Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0582%/8h= −63.7% APRpaid last 24h −0.317%

Price spread now: Bulk against KuCoin+0.178%7-day average −0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$410.411% of the position

Long on KuCoin Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.364%−$36 on $10k

Price spread, last 4 days (all we have)−0.481%−$48 · spread now +0.178%, 7d avg −0.107%

Together, before fees−0.844%−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bulk is 0.285% dearer against KuCoin than usual: you sell high and buy low (spread +0.178% now, against its 7-day average of −0.107%): +$29 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TAOUSDTM	314.57	0.0100	pay 0.0050% / 4h	42m 05s	$17.5M	$31.7M	75x
Short	Bulk TAO-USD	315.13	−0.0482	pay 0.0060% / 1h	42m 05s	$167K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against KuCoin. 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 KuCoinbpFee BulkbpOrdersPrice spread, now +0.178%Rate

Funding earned: −$122.2
Price spread: +0.178% → −0.107%: $28.54
Slippage, 4 orders: −$22.05
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$134.71
Costs to cover: 0.411%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Bulk: live order book, 17 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 KuCoin live order book, 2 min ago	0.79 bp	17.4 bp −$17	30.2 bp −$302	doesn't fit	doesn't fit
Sell Bulk live order book, 17 min ago	0.16 bp	4.8 bp −$5	9.4 bp −$94	21.9 bp −$2,186	33.1 bp −$16.6K

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-USDshort	−0.0482%	1h	315.13	+0.178%	$167K	$1K	10x
dYdX TAO-USD	0.0000%	1h	314.76	+0.060%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.62	+0.015%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.61	+0.013%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.89	+0.102%	$42K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.72	+0.048%	$90.7M	$489.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.50	−0.022%	$25.9M	$119.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.40	−0.054%	$12.9M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.67	+0.032%	$105.5M	$142.5M	300x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	314.57	long leg	$17.5M	$31.7M	75x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	314.43	−0.045%	$35.1M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.77	+0.381%	$35K	$304K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.07	+0.477%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.77	+0.064%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.90	+0.106%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.64	+0.022%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.75	+0.057%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.61	+0.013%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	314.64	+0.022%	$644	$786K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.67	+0.032%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	316.10	+0.487%	$526K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.78	+0.067%	$57K	$275K	10x	as long as short
Bybit TAOUSDT	+0.0134%	4h	314.74	+0.054%	$68.5M	$146.5M	50x	as long as short
BingX TAO-USDT	+0.0146%	4h	314.64	+0.022%	—	$30.1M	—	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0151% / S +0.0122%	1h	314.54	−0.010%	$419K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	315.03	+0.146%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0197%	1h	315.02	+0.143%	$798K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0220%	4h	314.68	+0.035%	$1.2M	$10.1M	50x	as long as short
01 Exchange TAOUSD	+0.0232%	1h	314.85	+0.089%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0265%	1h	314.85	+0.089%	$93.7M	$105.2M	5x	as long as short
Extended TAO-USD	+0.0304%	1h	314.63	+0.019%	$922K	$2.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0309%	1h	314.73	+0.051%	$315K	$913K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.07	+0.159%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.18	+0.194%	$99K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.05	+0.152%	$361K	$409K	10x	as long as short
Lighter TAO	+0.0408%	1h	314.97	+0.127%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0435%	1h	314.73	+0.050%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	316.10	+0.486%	$315K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	+0.434%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.85	+0.090%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.92	+0.112%	$436K	$659K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.38	+0.575%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.602%	$23K	$2K	12x	as long as short