Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against KuCoin+0.025%7-day average −0.006% · 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−$51as in the Price arb table

costs, in and out, $10k−$540.539% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.025%, 7d avg −0.006%

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.031% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TAOUSDTM	316.96	0.0100	pay 0.0050% / 4h	1h 01m	$17.7M	$32.4M	75x
Short	Popdex TAOUSDT	317.04	0.0096	get 0.0012% / 1h	1m 21s	$43K	$707K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$0.84
Price spread: +0.025% → −0.006%: $3.08
Slippage, 4 orders: −$35.48
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$51.65
Costs to cover: 0.539%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Popdex: live order book, 43 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, 8 min ago	2.51 bp	20.3 bp −$20	37.2 bp −$372	doesn't fit	doesn't fit
Sell Popdex live order book, 43 min ago	0.47 bp	9.8 bp −$10	75.0 bp −$750	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	−0.0237%	1h	320.94	+1.256%	$171K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.74	−0.070%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.52	−0.140%	$22K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	317.04	+0.025%	$43K	$707K	20x
OKX TAO-USDT-SWAP	+0.0100%	8h	317.20	+0.076%	$26.5M	$129.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.80	−0.050%	$14.3M	$52.5M	50x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	316.96	long leg	$17.7M	$32.4M	75x
Bitget TAOUSDT	+0.0100%	4h	316.77	−0.060%	$35.6M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.23	+0.716%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.98	+0.006%	$84K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	316.74	−0.069%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.66	−0.095%	$115K	$600K	20x	as long as short
Katana Perps TAO-USD	+0.0108%	8h	316.98	+0.006%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0112% / S +0.0154%	1h	316.57	−0.123%	$423K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	317.11	+0.048%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0133%	4h	317.20	+0.076%	$53K	$293K	10x	as long as short
Binance TAOUSDT	+0.0172%	4h	317.14	+0.056%	$92.1M	$528.8M	75x	as long as short
MEXC TAO_USDT	+0.0178%	4h	317.05	+0.028%	$107.1M	$152.0M	300x	as long as short
edgeX TAOUSDC	+0.0185%	4h	317.44	+0.153%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0232%	8h	317.31	+0.110%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0253%	4h	317.35	+0.123%	$69.6M	$156.0M	50x	as long as short
BingX TAO-USDT	+0.0256%	4h	317.07	+0.035%	—	$36.7M	—	as long as short
Bullet TAO-USD	+0.0300%	1h	316.96	+0.001%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0331%	4h	316.92	−0.014%	$1.3M	$11.0M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0336%	4h	316.65	−0.099%	$540K	$926K	10x	as long as short
Extended TAO-USD	+0.0344%	1h	317.01	+0.017%	$904K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0418%	4h	317.35	+0.123%	$4.7M	$11.0M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0505%	1h	316.84	−0.039%	$15K	$2.0M	25x	as long as short
Variational Omni TAO	+0.0514%	4h	319.69	+0.861%	$5.7M	$10.2M	—	as long as short
Nado TAO-PERP	+0.0514%	1h	317.28	+0.100%	$786K	$2.0M	10x	as long as short
Pacifica TAO	+0.0525%	1h	317.35	+0.124%	$360K	$429K	10x	as long as short
Phoenix TAO	+0.0567%	1h	317.40	+0.139%	$316K	$709K	5x	as long as short
Lighter TAO	+0.0568%	1h	317.40	+0.139%	$1.6M	$6.9M	5x	as long as short
Hyperliquid TAO	+0.0581%	1h	317.17	+0.066%	$93.8M	$110.1M	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	317.17	+0.066%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	317.44	+0.151%	$102K	$389K	5x	as long as short
Phemex TAOUSDT	+0.0664%	4h	317.01	+0.016%	$3.2M	$8.2M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0664%	1h	316.97	+0.003%	$295K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.07	+0.033%	$365	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	317.68	+0.227%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	317.07	+0.035%	$437K	$678K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1164%	1h	316.98	+0.008%	$5.9M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.52	+2.070%	$24K	$2K	12x	as long as short