Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h +0.053%

Price spread now: BloFin against Pacifica+0.083%94s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.388% of the position

Long on Pacifica Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.371%+$37 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.083%, 7d avg +0.012%

Together, before fees+0.374%+ Points / potential airdropPacifica: Active · farm board+$37 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 BloFin is 0.071% dearer against Pacifica than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.012%. The two prices were read 94 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	318.95	0.0313	pay 0.0039% / 1h	41m 33s	$362K	$429K	10x
Short	BloFin TAO-USDT	319.21	0.0426	get 0.0213% / 4h	41m 33s	$4.7M	$10.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.083%Rate

Funding earned: $23.78
Price spread: +0.083% → +0.012%: $7.12
Slippage, 4 orders: −$18.76
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$7.86
Costs to cover: 0.388%
Break-even: 9.3 days

Slippage from Pacifica: live order book, 62 min ago; BloFin: live order book, 2 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, 62 min ago	2.97 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.63 bp	12.0 bp −$12	19.4 bp −$194	37.1 bp −$3,713	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	318.42	−0.165%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0050%	1h	318.66	−0.090%	$127K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.00	+0.017%	$44K	$709K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.90	−0.014%	$26.5M	$130.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.60	−0.108%	$14.5M	$51.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.82	−0.040%	$17.9M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.45	−0.156%	$35.8M	$57.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.50	−0.140%	$89K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.27	−0.212%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.36	−0.184%	$116K	$604K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0107%	8h	318.61	−0.105%	$3K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0108% / S +0.0133%	1h	318.36	−0.183%	$410K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	318.81	−0.043%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0150%	4h	318.61	−0.105%	$53K	$293K	10x	as long as short
edgeX TAOUSDC	+0.0183%	4h	318.77	−0.054%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0184%	4h	318.83	−0.036%	$100.4M	$151.2M	300x	as long as short
Binance TAOUSDT	+0.0184%	4h	318.94	−0.003%	$92.5M	$529.7M	75x	as long as short
Paradex TAO-USD-PERP	+0.0250%	8h	318.89	−0.018%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0290%	4h	318.95	+0.001%	$69.9M	$156.5M	50x	as long as short
BingX TAO-USDT	+0.0298%	4h	318.73	−0.068%	—	$37.0M	—	as long as short
ApeX Omni TAOUSDT	+0.0309%	1h	318.62	−0.102%	$46K	$260K	50x	as long as short
Pacifica TAOlong	+0.0313%	1h	318.95	long leg	$362K	$429K	10x
Bulk TAO-USD	+0.0314%	1h	317.73	−0.381%	$169K	$333	10x	as long as short
GRVT TAO_USDT_Perp	+0.0334%	4h	318.97	+0.009%	$544K	$926K	10x	as long as short
Aster TAOUSDT	+0.0342%	4h	318.92	−0.008%	$1.3M	$11.0M	50x	as long as short
Bullet TAO-USD	+0.0351%	1h	318.66	−0.088%	$12K	$17K	20x	as long as short
Extended TAO-USD	+0.0368%	1h	318.62	−0.101%	$908K	$2.4M	25x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0409%	1h	318.70	−0.078%	$15K	$2.0M	25x	as long as short
BloFin TAO-USDTshort	+0.0426%	4h	319.21	+0.083%	$4.7M	$10.9M	100x
Arcus TAO-USD	+0.0473%	1h	319.02	+0.023%	$103K	$381K	5x	as long as short
Nado TAO-PERP	+0.0509%	1h	318.78	−0.053%	$790K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0534%	4h	319.26	+0.099%	$5.6M	$10.3M	—	as long as short
Phemex TAOUSDT	+0.0543%	4h	318.75	−0.061%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0560%	1h	319.17	+0.070%	$1.6M	$6.9M	5x	as long as short
Phoenix TAO	+0.0629%	1h	319.10	+0.048%	$318K	$703K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	318.55	−0.125%	$366	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0757%	1h	319.19	+0.077%	$297K	$904K	10x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	319.15	+0.064%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0787%	1h	319.37	+0.133%	$94.5M	$110.2M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0831%	1h	318.96	+0.005%	$6.0M	$21.6M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.61	−0.106%	$450K	$670K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.26	+0.098%	$1.5M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+1.252%	$23K	$2K	12x	as long as short