Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.001%

Price spread now: Arcus against OKX+0.288%7-day average +0.103% · 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−$28as in the Price arb table

costs, in and out, $10k−$460.465% of the position

Long on OKX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.288%, 7d avg +0.103%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Arcus is 0.185% dearer against OKX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TAO-USDT-SWAP	316.10	0.0100	pay 0.0100% / 8h	7h 10m	$25.8M	$108.8M	50x
Short	Arcus TAO-USD	317.01	0.0201	get 0.0025% / 1h	10m 07s	$84K	$550K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against OKX. 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 OKXbpFee ArcusbpOrdersPrice spread, now +0.288%Rate

Funding earned: $21.28
Price spread: +0.288% → +0.103%: $18.46
Slippage, 4 orders: −$31.99
Fee OKX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$6.76
Costs to cover: 0.465%
Break-even: 9.2 days

Slippage from OKX: live order book, 4 min ago; Arcus: live order book, 64 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 OKX live order book, 4 min ago	1.58 bp	11.0 bp −$11	20.4 bp −$204	65.6 bp −$6,562	doesn't fit
Sell Arcus live order book, 64 min ago	8.66 bp	13.7 bp −$14	28.4 bp −$284	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	−0.1821%	1h	318.67	+0.813%	$169K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.38	+0.088%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.20	+0.032%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.83	+0.231%	$43K	$598K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.23	+0.041%	$90.7M	$450.1M	75x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	316.10	long leg	$25.8M	$108.8M	50x
Gate TAO_USDT	+0.0100%	4h	315.90	−0.063%	$12.8M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.26	+0.051%	$99.0M	$136.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.15	+0.016%	$17.9M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.72	−0.120%	$35.1M	$51.4M	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	316.13	+0.010%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.09	−0.002%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.39	+0.092%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.22	+0.038%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.77	+0.212%	$127K	$422K	20x	as long as short
Bullet TAO-USD	+0.0103%	1h	316.51	+0.130%	$12K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.68	+0.182%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0120%	8h	316.87	+0.244%	$1K	$643K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0101%	1h	316.17	+0.021%	$449K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	316.79	+0.218%	$375K	$375K	10x	as long as short
Arcus TAO-USDshort	+0.0201%	1h	317.01	+0.288%	$84K	$550K	5x
Aster TAOUSDT	+0.0207%	4h	316.33	+0.072%	$1.3M	$8.8M	50x	as long as short
Phemex TAOUSDT	+0.0224%	4h	316.39	+0.092%	$3.4M	$7.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0236%	8h	316.50	+0.126%	$14K	$1K	10x	as long as short
ApeX Omni TAOUSDT	+0.0247%	1h	316.20	+0.032%	$48K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0276%	1h	316.82	+0.228%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0285%	1h	316.30	+0.065%	$17K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.66	+0.177%	$4.5M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0485%	1h	316.31	+0.066%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	316.60	+0.158%	$331K	$624K	5x	as long as short
Variational Omni TAO	+0.0546%	4h	316.94	+0.267%	$5.5M	$8.7M	—	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.06	+0.304%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.77	+0.528%	$23K	$802	12x	as long as short
BingX TAO-USDT	+0.0628%	4h	316.16	+0.019%	—	$30.5M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.44	+0.109%	$364	—	20x	as long as short
Bybit TAOUSDT	+0.0724%	4h	316.44	+0.108%	$65.1M	$133.4M	50x	as long as short
Nado TAO-PERP	+0.0754%	1h	316.48	+0.119%	$876K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0806%	1h	316.27	+0.054%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.71	+0.509%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1120%	1h	316.28	+0.056%	$886K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	316.80	+0.221%	$420K	$593K	5x	as long as short
Lighter TAO	+0.1424%	1h	316.88	+0.248%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1828%	1h	316.53	+0.136%	$101.3M	$91.9M	5x	as long as short