Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h 0.000%

Price spread now: BingX against OKX−0.038%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.038%, 7d avg +0.027%

Together, before fees+0.124%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.065% cheaper against OKX than usual: you would sell low and buy high (spread −0.038% now, against its 7-day average of +0.027%). If the spread goes back, that is −$6 on $10k: about 2.6 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.066% in total) that is about 6.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TAO-USDT-SWAP	316.40	0.0100	pay 0.0100% / 8h	4h 46m	$26.0M	$119.7M	50x
Short	BingX TAO-USDT	316.28	0.0184	get 0.0092% / 4h	46m 06s	—	$30.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.038%Rate

Funding earned: $17.64
Price spread: −0.038% → +0.027%: −$6.45
Slippage, 4 orders: −$13.94
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$22.75
Costs to cover: 0.339%
Break-even: 16.0 days

Slippage from OKX: live order book, 3 min ago; BingX: live order book, 8 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, 3 min ago	1.59 bp	8.4 bp −$8	20.8 bp −$208	64.8 bp −$6,481	doesn't fit
Sell BingX live order book, 8 min ago	0.95 bp	8.0 bp −$8	14.6 bp −$146	24.6 bp −$2,459	46.6 bp −$23.3K

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	−0.0499%	1h	315.15	−0.395%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.31	−0.343%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.50	−0.284%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	316.03	−0.116%	$5.6M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.54	−0.272%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.17	−0.071%	$91.2M	$489.6M	75x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	316.40	long leg	$26.0M	$119.7M	50x
Gate TAO_USDT	+0.0100%	4h	316.00	−0.126%	$13.0M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.22	−0.057%	$105.6M	$142.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.04	−0.114%	$17.6M	$31.6M	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	316.12	−0.088%	$35.3M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.23	−0.685%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.21	−0.692%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.49	−0.288%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.71	−0.218%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.84	−0.177%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.53	−0.275%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.97	−0.136%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.76	−0.203%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	315.31	−0.345%	$645	$785K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	−0.495%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	315.88	−0.164%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.44	−0.303%	$428K	—	100x	as long as short
Bybit TAOUSDT	+0.0154%	4h	316.40	0.000%	$68.8M	$146.5M	50x	as long as short
BingX TAO-USDTshort	+0.0184%	4h	316.28	−0.038%	—	$30.1M	—
Paradex TAO-USD-PERP	+0.0195%	8h	315.58	−0.259%	$14K	$1K	10x	as long as short
01 Exchange TAOUSD	+0.0200%	1h	315.50	−0.284%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0210%	1h	315.61	−0.249%	$807K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0221%	4h	315.82	−0.183%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0250%	1h	316.46	+0.019%	$94.4M	$104.9M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0301%	1h	316.41	+0.003%	$317K	$910K	10x	as long as short
Extended TAO-USD	+0.0328%	1h	315.97	−0.137%	$922K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.93	−0.149%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.84	−0.177%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.53	−0.275%	$362K	$409K	10x	as long as short
Lighter TAO	+0.0376%	1h	316.23	−0.054%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0553%	1h	316.17	−0.071%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.601%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	−0.146%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.57	−0.261%	$363	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.60	−0.254%	$436K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.48	+0.025%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.015%	$23K	$2K	12x	as long as short