Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0062%/8h= +6.7% APRpaid last 24h +0.042%

Price spread now: Aster against Pacifica+0.144%48s7-day average +0.035% · 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—prices read too far apart to compare

costs, in and out, $10k−$370.368% of the position

Long on Pacifica Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.152%+$15 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.144%, 7d avg +0.035%

Together, before fees+0.073%+ Points / potential airdropPacifica: Active · Aster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aster is 0.109% dearer against Pacifica than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.035%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	313.06	0.0100	pay 0.0013% / 1h	9m 51s	$370K	$363K	10x
Short	Aster TAOUSDT	313.51	0.0162	get 0.0081% / 4h	9m 51s	$1.1M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Pacifica. 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 PacificabpFee AsterbpOrdersPrice spread, now +0.144%Rate

Funding earned: $12.94
Price spread: +0.144% → +0.035%: $10.9
Slippage, 4 orders: −$20.77
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$12.93
Costs to cover: 0.368%
Break-even: 14.0 days

Slippage from Pacifica: live order book, 4 min ago; Aster: live order book, 4 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 Pacifica live order book, 4 min ago	3.53 bp	9.2 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	1.12 bp	9.5 bp −$9	19.8 bp −$198	263.5 bp −$26.4K	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	−0.2753%	1h	312.56	−0.160%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.55	−0.162%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	313.24	+0.056%	$27K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	312.08	−0.313%	$23K	$362	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.44	+0.121%	$37K	$566K	20x	as long as short
Pacifica TAOlong	+0.0100%	1h	313.06	long leg	$370K	$363K	10x
Binance TAOUSDT	+0.0100%	4h	313.68	+0.197%	$89.0M	$428.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.87	+0.258%	$61.9M	$125.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.40	+0.108%	$25.2M	$101.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.50	+0.140%	$12.5M	$50.3M	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	313.56	+0.159%	$111.1M	$131.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.59	+0.169%	$18.5M	$27.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.40	+0.108%	$35.0M	$46.9M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.56	+0.159%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.46	−0.511%	$40K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.99	−0.343%	$518K	$944K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.38	−0.537%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.60	+0.172%	$77K	$450K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.40	+0.108%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.24	+0.057%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.09	+0.009%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.75	+0.540%	$128K	$415K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.14	+0.025%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.59	+0.169%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	313.29	+0.073%	$1K	$564K	5x	as long as short
Aster TAOUSDTshort	+0.0162%	4h	313.51	+0.144%	$1.1M	$7.9M	50x
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	313.10	+0.012%	$446K	—	100x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.48	+0.134%	$83K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	313.23	+0.054%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0216%	4h	312.58	−0.154%	$3.9M	$7.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0218%	1h	313.25	+0.059%	$20K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.30	−0.243%	$4.3M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0436%	1h	313.43	+0.119%	$824K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.25	+0.061%	$5.7M	$19.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0522%	1h	313.59	+0.169%	$293K	$803K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.40	−0.211%	$327K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	313.68	+0.198%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.40	+0.109%	$360	—	20x	as long as short
Extended TAO-USD	+0.0840%	1h	313.52	+0.147%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.20	+0.044%	$1.5M	$5.7M	50x	as long as short
Lighter TAO	+0.1224%	1h	313.72	+0.209%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.44	+0.121%	$415K	$585K	5x	as long as short
Hyperliquid TAO	+0.1590%	1h	313.96	+0.287%	$98.4M	$84.7M	5x	as long as short