Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0193%/8h= −21.1% APRpaid last 24h −0.085%

Price spread now: KuCoin against Kraken Futures−0.346%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$770.772% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.240%−$24 on $10k

Price spread, last 4 days (all we have)+0.282%+$28 · spread now −0.346%, 7d avg −0.044%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and KuCoin is 0.302% cheaper against Kraken Futures than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	325.11	0.0293	pay 0.0037% / 1h	1m 33s	$6.1M	$21.6M	50x
Short	KuCoin TAOUSDTM	323.98	0.0100	get 0.0050% / 4h	2h 01m	$17.7M	$31.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now −0.346%Rate

Funding earned: −$40.56
Price spread: −0.346% → −0.044%: −$30.22
Slippage, 4 orders: −$55.19
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$147.97
Costs to cover: 0.772%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; KuCoin: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 3 min ago	6.80 bp	19.6 bp −$20	28.6 bp −$286	89.9 bp −$8,989	doesn't fit
Sell KuCoin live order book, 7 min ago	1.40 bp	22.4 bp −$22	35.5 bp −$355	doesn't fit	doesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk TAO-USD	−0.1440%	1h	322.10	−0.926%	$171K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	324.66	−0.137%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0026%	1h	323.84	−0.390%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.40	−0.524%	$27.0M	$129.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.70	−0.432%	$14.3M	$52.3M	50x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	323.98	−0.346%	$17.7M	$31.7M	75x
Bitget TAOUSDT	+0.0100%	4h	323.33	−0.546%	$36.5M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.47	−0.503%	$83K	$974K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	324.72	−0.118%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	324.35	−0.232%	$121K	$576K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	324.51	−0.183%	$3.3M	$8.1M	50x	as long as short
Popdex TAOUSDT	+0.0104%	1h	323.72	−0.426%	$42K	$687K	20x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	323.89	−0.374%	$669	$964K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	324.67	−0.134%	$54K	$292K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	324.91	−0.061%	$178K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0143%	1h	324.71	−0.122%	$436K	—	100x	as long as short
edgeX TAOUSDC	+0.0144%	4h	323.49	−0.497%	$43K	$317K	10x	as long as short
MEXC TAO_USDT	+0.0148%	4h	324.09	−0.312%	$104.1M	$149.4M	300x	as long as short
Binance TAOUSDT	+0.0156%	4h	323.72	−0.426%	$94.3M	$518.9M	75x	as long as short
Pacifica TAO	+0.0233%	1h	324.01	−0.338%	$369K	$421K	10x	as long as short
Paradex TAO-USD-PERP	+0.0288%	8h	324.07	−0.317%	$15K	$1K	10x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0293%	1h	325.11	long leg	$6.1M	$21.6M	50x
Nado TAO-PERP	+0.0300%	1h	323.72	−0.427%	$820K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0311%	4h	324.16	−0.289%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USD	+0.0321%	1h	325.09	−0.004%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0384%	4h	323.38	−0.531%	$4.6M	$11.2M	100x	as long as short
Bybit TAOUSDT	+0.0413%	4h	323.65	−0.448%	$70.9M	$154.8M	50x	as long as short
BingX TAO-USDT	+0.0424%	4h	323.95	−0.355%	—	$34.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	324.30	−0.248%	$111K	$377K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0490%	4h	324.22	−0.271%	$553K	$948K	10x	as long as short
ApeX Omni TAOUSDT	+0.0495%	1h	323.55	−0.478%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0496%	1h	323.85	−0.385%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	−0.494%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	−0.470%	$5.7M	$10.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0553%	1h	324.86	−0.076%	$23K	$1.9M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	323.44	−0.511%	$372	—	20x	as long as short
Lighter TAO	+0.0784%	1h	324.21	−0.276%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0802%	1h	324.33	−0.238%	$95.9M	$109.8M	5x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	323.92	−0.365%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0853%	1h	324.93	−0.054%	$322K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	325.87	+0.235%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.89	−0.372%	$465K	$651K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	−0.457%	$24K	$2K	12x	as long as short