Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.016%

Price spread now: dYdX against MEXC−0.572%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1011.005% of the position

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 4 days (all we have)+0.489%+$49 · spread now −0.572%, 7d avg −0.041%

Together, before fees+0.641%+$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.531% cheaper against MEXC than usual: you would sell low and buy high (−$53 if the spread goes back to its 7-day average of −0.041%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.152%, 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	MEXC TAO_USDT	319.44	0.0100	pay 0.0050% / 4h	3h 32m	$108.5M	$134.5M	300x
Short	dYdX TAO-USD	317.61	0	get 0.0000% / 1h	32m 09s	$127K	$88K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against MEXC. 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 MEXCbpFee dYdXbpOrdersPrice spread, now −0.572%Rate

Funding earned: −$21
Price spread: −0.572% → −0.041%: −$53.13
Slippage, 4 orders: −$90.53
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$174.67
Costs to cover: 1.005%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; dYdX: live order book, 42 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 MEXC live order book, 2 min ago	2.04 bp	2.9 bp −$3	10.6 bp −$106	32.0 bp −$3,201	111.4 bp −$55.7K
Sell dYdX live order book, 42 min ago	40.38 bp	48.6 bp −$49	63.2 bp −$632	187.7 bp −$18.8K	608.1 bp −$304.0K

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	−0.1322%	1h	319.84	+0.125%	$170K	$44K	10x	as long as short
Phemex TAOUSDT	−0.0287%	4h	318.03	−0.441%	$3.4M	$7.8M	50x	as long as short
dYdX TAO-USDshort	0.0000%	1h	317.61	−0.572%	$127K	$88K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.38	−0.332%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.52	−0.601%	$41K	$589K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.60	−0.264%	$91.8M	$446.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.10	−0.106%	$26.1M	$108.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.90	−0.169%	$13.0M	$50.5M	50x	as long as short
MEXC TAO_USDTlong	+0.0100%	4h	319.44	long leg	$108.5M	$134.5M	300x
KuCoin TAOUSDTM	+0.0100%	4h	318.54	−0.282%	$18.2M	$29.2M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	318.94	−0.157%	$35.6M	$50.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	319.52	+0.024%	$40K	$293K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.62	−0.257%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.37	−0.335%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.76	−0.526%	$127K	$424K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0104%	4h	320.01	+0.177%	$529K	$969K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.70	−0.232%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0115%	8h	317.51	−0.604%	$1K	$621K	5x	as long as short
Bullet TAO-USD	+0.0165%	1h	318.53	−0.285%	$12K	$17K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0089%	1h	318.30	−0.356%	$461K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.05	−0.435%	$377K	$374K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	317.73	−0.535%	$84K	$550K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0222%	1h	318.58	−0.270%	$17K	$1.5M	25x	as long as short
Aster TAOUSDT	+0.0236%	4h	318.28	−0.362%	$1.1M	$8.4M	50x	as long as short
Paradex TAO-USD-PERP	+0.0240%	8h	317.60	−0.576%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0325%	1h	318.35	−0.341%	$93K	$638K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	319.76	+0.100%	$4.5M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0344%	1h	319.23	−0.066%	$48K	$266K	50x	as long as short
Variational Omni TAO	+0.0398%	4h	320.33	+0.277%	$5.6M	$8.7M	—	as long as short
BingX TAO-USDT	+0.0428%	4h	319.16	−0.088%	—	$30.5M	—	as long as short
Bybit TAOUSDT	+0.0471%	4h	319.34	−0.031%	$65.6M	$132.9M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0481%	1h	318.61	−0.260%	$5.8M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	320.00	+0.175%	$335K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	322.97	+1.105%	$23K	$678	12x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	317.68	−0.551%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	318.07	−0.428%	$366	—	20x	as long as short
Nado TAO-PERP	+0.0795%	1h	317.86	−0.494%	$887K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0892%	1h	319.41	−0.009%	$323K	$819K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.54	+0.031%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1141%	1h	317.43	−0.628%	$422K	$600K	5x	as long as short
Extended TAO-USD	+0.1144%	1h	318.62	−0.256%	$930K	$2.2M	25x	as long as short
Lighter TAO	+0.1432%	1h	319.09	−0.111%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2275%	1h	319.61	+0.053%	$103.2M	$90.8M	5x	as long as short