Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0286%/8h= −31.3% APRpaid last 24h −0.263%

Price spread now: Bulk against OKX+0.135%7-day average −0.026% · 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−$10as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on OKX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.291%−$29 on $10k

Price spread, last 4 days (all we have)−0.195%−$20 · spread now +0.135%, 7d avg −0.026%

Together, before fees−0.487%−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bulk is 0.161% dearer against OKX than usual: you sell high and buy low (spread +0.135% now, against its 7-day average of −0.026%): +$16 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TAO-USDT-SWAP	303.40	0.0100	pay 0.0100% / 8h	1h 33m	$24.4M	$95.1M	50x
Short	Bulk TAO-USD	303.81	−0.0186	pay 0.0023% / 1h	33m 31s	$162K	$54K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$59.96
Price spread: +0.135% → −0.026%: $16.09
Slippage, 4 orders: −$8.81
Fee OKX: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$69.68
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Bulk: live order book, 50 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, 5 min ago	1.65 bp	9.6 bp −$10	15.6 bp −$156	54.1 bp −$5,405	doesn't fit
Sell Bulk live order book, 50 min ago	0.16 bp	4.3 bp −$4	8.4 bp −$84	25.6 bp −$2,561	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-USDshort	−0.0186%	1h	303.81	+0.135%	$162K	$54K	10x
dYdX TAO-USD	0.0000%	1h	303.13	−0.089%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	302.59	−0.268%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.38	−0.007%	$44K	$536K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	303.21	−0.063%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.35	−0.016%	$84.8M	$412.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.47	+0.023%	$58.7M	$121.0M	50x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	303.40	long leg	$24.4M	$95.1M	50x
Arcus TAO-USD	+0.0100%	1h	303.54	+0.046%	$79K	$643K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.00	−0.132%	$12.1M	$48.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	303.27	−0.043%	$110.2M	$124.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	303.50	+0.033%	$18.5M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.12	−0.092%	$33.8M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.29	−0.036%	—	$30.3M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.56	+0.053%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	302.63	−0.253%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	302.58	−0.269%	$500K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	302.62	−0.257%	$45K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	302.73	−0.221%	$74K	$604K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	302.57	−0.273%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	302.88	−0.171%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	302.87	−0.175%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.16	−0.079%	$121K	$363K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.25	−0.049%	$3.2M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	302.97	−0.142%	$166K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	303.35	−0.016%	$3K	$493K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	303.27	−0.042%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.42	+0.006%	$358K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	302.52	−0.291%	$432K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0251%	1h	302.98	−0.139%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	302.76	−0.211%	$4.2M	$9.3M	100x	as long as short
Lighter TAO	+0.0344%	1h	303.51	+0.036%	$1.6M	$5.3M	5x	as long as short
Nado TAO-PERP	+0.0360%	1h	302.54	−0.284%	$816K	$1.9M	10x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	303.62	+0.073%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0426%	1h	303.30	−0.033%	$377K	$757K	10x	as long as short
Phoenix TAO	+0.0521%	1h	302.70	−0.231%	$321K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	302.50	−0.298%	$348	—	20x	as long as short
Extended TAO-USD	+0.0840%	1h	303.22	−0.058%	$825K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	303.64	+0.079%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1041%	1h	303.33	−0.023%	$5.7M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1068%	1h	303.87	+0.155%	$92.2M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.52	+0.039%	$411K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.757%	$22K	$264	12x	as long as short