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Funding arb · Price arb /

TAO

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0540%/8h= +59.1% APRpaid last 24h 0.000%
Price spread now: Bybit against OKX+0.006%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$430.428% of the position
Long on OKXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.043%+$4 on $10k
Price spread, last 7 days+0.022%+$2 · spread now +0.006%, 7d avg +0.045%
Together, before fees+0.065%+$6 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bybit is 0.038% cheaper against OKX than usual: you would sell low and buy high (spread +0.006% now, against its 7-day average of +0.045%). If the spread goes back, that is −$4 on $10k: about 6 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.043% in total) that is about 6.3 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX TAO-USDT-SWAP319.100.0100pay 0.0100% / 8h5h 39m$26.3M$116.7M50x
ShortBybit TAOUSDT319.120.0640get 0.0320% / 4h1h 39m$68.0M$140.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
$113.33
Price spread: +0.006% → +0.045%
−$3.84
Slippage, 4 orders
−$21.85
Fee OKX: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$66.65
Costs to cover
0.428%
Break-even
2.9 days
Slippage from OKX: live order book, 5 min ago; Bybit: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 5 min ago1.57 bp9.4 bp −$917.0 bp −$17058.8 bp −$5,885doesn't fit
Sell Bybit live order book, 5 min ago0.16 bp10.1 bp −$1017.5 bp −$17536.4 bp −$3,643doesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.3652%1h316.49−0.818%$168K$1K10xas long as short
dYdX TAO-USD0.0000%1h319.31+0.066%$128K$84K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h318.31−0.248%$21K—150xas long as short
Popdex TAOUSDT+0.0096%1h319.20+0.031%$44K$655K20xas long as short
Binance TAOUSDT+0.0100%4h319.17+0.022%$92.5M$472.3M75xas long as short
OKX TAO-USDT-SWAPlong+0.0100%8h319.10long leg$26.3M$116.7M50x
Gate TAO_USDT+0.0100%4h319.100.000%$13.0M$49.4M50xas long as short
MEXC TAO_USDT+0.0100%4h318.12−0.307%$106.5M$139.4M300xas long as short
KuCoin TAOUSDTM+0.0100%4h318.59−0.160%$18.0M$30.9M75xas long as short
Bitget TAOUSDT+0.0100%4h318.96−0.044%$35.6M$53.9M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX TAOUSDC+0.0100%4h319.73+0.198%$36K$300K10xas long as short
Polymarket Perps TAO-USD+0.0100%1h319.01−0.028%$72K$771K5xas long as short
SunX TAO-USDT+0.0100%4h319.92+0.257%$1K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h320.49+0.436%$131K$478K20xas long as short
Phemex TAOUSDT+0.0100%4h320.16+0.332%$3.4M$7.8M50xas long as short
Orderly PERP_TAO_USDC+0.0101%4h320.18+0.338%$58K$282K10xas long as short
Aevo TAO-PERP+0.0104%1h320.26+0.362%$176K$9983xas long as short
Katana Perps TAO-USD+0.0117%8h319.23+0.041%$2K$754K5xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0163% / S +0.0106%1h318.26−0.262%$433K—100xas long as short
GRVT TAO_USDT_Perp+0.0224%4h318.95−0.046%$526K$955K10xas long as short
Kraken Futures PF_TAOUSD+0.0245%1h320.19+0.340%$5.6M$20.5M50xas long as short
Bullet TAO-USD+0.0303%1h318.38−0.227%$12K$18K20xas long as short
Paradex TAO-USD-PERP+0.0328%8h319.24+0.043%$14K$1K10xas long as short
Aster TAOUSDT+0.0330%4h319.12+0.006%$1.2M$9.3M50xas long as short
BloFin TAO-USDT+0.0340%4h320.59+0.467%$4.5M$10.7M100xas long as short
Deribit TAO_USDC-PERPETUAL+0.0343%1h319.91+0.253%$17K$1.6M25xas long as short
Pacifica TAO+0.0448%1h319.48+0.119%$377K$396K10xas long as short
Phoenix TAO+0.0504%1h318.90−0.063%$333K$707K5xas long as short
Arcus TAO-USD+0.0509%1h319.67+0.179%$101K$489K5xas long as short
Nado TAO-PERP+0.0558%1h319.25+0.046%$771K$2.1M10xas long as short
Bybit TAOUSDTshort+0.0640%4h319.12+0.006%$68.0M$140.2M50x
BingX TAO-USDT+0.0642%4h318.54−0.175%—$30.3M—as long as short
Reya TAORUSDPERP+0.0696%1h319.11+0.002%$367—20xas long as short
01 Exchange TAOUSD+0.0792%1h319.48+0.119%$3K$4K5xas long as short
Variational Omni TAO+0.0878%4h320.22+0.350%$5.9M$9.7M—as long as short
ApeX Omni TAOUSDT+0.0883%1h318.78−0.100%$47K$253K50xas long as short
Lighter TAO+0.0904%1h319.41+0.097%$1.6M$6.3M5xas long as short
Extended TAO-USD+0.0920%1h319.21+0.036%$937K$2.3M25xas long as short
Backpack TAO_USDC_PERP+0.1005%1h320.57+0.461%$441K$860K10xas long as short
Coinbase International TAO-PERP-INTX+0.1024%1h320.58+0.464%$1.5M$6.5M50xas long as short
RISEx TAO/USDC+0.1159%1h319.31+0.066%$454K$627K5xas long as short
Hyperliquid TAO+0.1386%1h319.48+0.119%$100.3M$98.4M5xas long as short
Injective TAO/USDC PERP+0.4172%1h319.69+0.185%$23K$2K12xas long as short