Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.010%

Price spread now: dYdX against KuCoin−0.041%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1281.281% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)−0.437%−$44 · spread now −0.041%, 7d avg −0.049%

Together, before fees−0.323%−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.114%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TAOUSDTM	316.14	0.0100	pay 0.0050% / 4h	1h 04m	$17.5M	$31.7M	75x
Short	dYdX TAO-USD	316.01	0	get 0.0000% / 1h	4m 58s	$126K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$21
Price spread: −0.041% → −0.049%: $0.82
Slippage, 4 orders: −$106.1
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$148.28
Costs to cover: 1.281%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; dYdX: live order book, 59 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, 4 min ago	1.73 bp	17.8 bp −$18	26.3 bp −$263	doesn't fit	doesn't fit
Sell dYdX live order book, 59 min ago	38.70 bp	43.7 bp −$44	58.9 bp −$589	210.2 bp −$21.0K	437.5 bp −$218.8K

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	−0.1916%	1h	325.17	+2.856%	$172K	$1K	10x	as long as short
dYdX TAO-USDshort	0.0000%	1h	316.01	−0.041%	$126K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.96	−0.057%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.46	+0.101%	$41K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.71	+0.180%	$92.0M	$490.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.70	+0.177%	$26.1M	$120.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.50	+0.114%	$13.0M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.72	+0.183%	$104.8M	$144.2M	300x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	316.14	long leg	$17.5M	$31.7M	75x
Bitget TAOUSDT	+0.0100%	4h	316.53	+0.123%	$35.3M	$56.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.32	+0.056%	$35K	$303K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.26	+0.038%	$88K	$793K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.16	+0.006%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.11	−0.009%	$109K	$529K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.34	+0.062%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	316.15	+0.003%	$673	$778K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	316.15	+0.003%	$57K	$275K	10x	as long as short
Bullet TAO-USD	+0.0136%	1h	316.36	+0.070%	$12K	$18K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0156% / S +0.0113%	1h	315.91	−0.072%	$429K	—	100x	as long as short
Phemex TAOUSDT	+0.0163%	4h	316.53	+0.123%	$3.3M	$8.1M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0178%	4h	317.27	+0.358%	$528K	$965K	10x	as long as short
Paradex TAO-USD-PERP	+0.0237%	8h	316.48	+0.107%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0248%	1h	316.30	+0.050%	$5.6M	$20.8M	50x	as long as short
Aster TAOUSDT	+0.0264%	4h	316.24	+0.031%	$1.2M	$10.1M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0283%	1h	316.20	+0.020%	$15K	$1.7M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.31	+0.054%	$4.6M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0349%	1h	316.96	+0.259%	$47K	$252K	50x	as long as short
Bybit TAOUSDT	+0.0376%	4h	316.89	+0.237%	$69.5M	$146.1M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	316.61	+0.149%	—	$30.4M	—	as long as short
Pacifica TAO	+0.0448%	1h	316.27	+0.042%	$372K	$413K	10x	as long as short
Phoenix TAO	+0.0504%	1h	316.50	+0.114%	$331K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.81	+0.212%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0569%	1h	316.48	+0.107%	$826K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0584%	1h	316.60	+0.146%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	316.77	+0.199%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.36	+0.068%	$364	—	20x	as long as short
Lighter TAO	+0.0712%	1h	316.82	+0.215%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0758%	4h	315.94	−0.062%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0824%	1h	316.75	+0.193%	$315K	$926K	10x	as long as short
Hyperliquid TAO	+0.0942%	1h	316.75	+0.193%	$95.6M	$104.2M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.297%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.72	+0.183%	$437K	$659K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.733%	$23K	$2K	12x	as long as short