Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h −0.002%

Price spread now: MEXC against Pacifica−0.001%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.001%, 7d avg −0.008%

Together, before fees−0.055%+ Points / potential airdropPacifica: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.082% in total (about -4.3% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	315.50	0.0285	pay 0.0036% / 1h	26m 22s	$371K	$381K	10x
Short	MEXC TAO_USDT	315.50	0.0100	get 0.0050% / 4h	2h 26m	$109.3M	$138.6M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$38.91
Price spread: −0.001% → −0.008%: $0.72
Slippage, 4 orders: −$16.05
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$62.24
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Pacifica: live order book, 42 min ago; MEXC: live order book, 3 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, 42 min ago	3.00 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.32 bp	1.7 bp −$2	9.0 bp −$90	23.6 bp −$2,362	111.6 bp −$55.8K

TAO on 42 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
dYdX TAO-USD	0.0000%	1h	315.19	−0.100%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.12	−0.122%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.43	−0.023%	$39K	$626K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.43	−0.023%	$90.4M	$464.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.40	−0.033%	$25.9M	$112.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	−0.096%	$12.8M	$50.2M	50x	as long as short
MEXC TAO_USDTshort	+0.0100%	4h	315.50	−0.001%	$109.3M	$138.6M	300x
KuCoin TAOUSDTM	+0.0100%	4h	315.29	−0.067%	$18.1M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.26	−0.077%	$35.2M	$53.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.67	−0.897%	$35K	$298K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	313.06	−0.774%	$47K	$256K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.43	−0.023%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.35	−0.365%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.34	−0.369%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.26	−0.394%	$3.4M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.85	+0.108%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0116%	4h	313.32	−0.693%	$516K	$966K	10x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	315.57	+0.021%	$1K	$700K	5x	as long as short
Polymarket Perps TAO-USD	+0.0148%	1h	315.38	−0.039%	$83K	$679K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0168%	1h	314.46	−0.329%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0091%	1h	315.04	−0.146%	$441K	—	100x	as long as short
Bullet TAO-USD	+0.0227%	1h	315.43	−0.023%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0238%	4h	315.47	−0.010%	$1.3M	$9.4M	50x	as long as short
Pacifica TAOlong	+0.0285%	1h	315.50	long leg	$371K	$381K	10x
Paradex TAO-USD-PERP	+0.0332%	8h	315.42	−0.026%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.73	+0.072%	$99K	$529K	5x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	312.28	−1.021%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0503%	1h	315.31	−0.061%	$780K	$2.1M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0574%	1h	314.52	−0.312%	$24K	$1.5M	25x	as long as short
Phoenix TAO	+0.0588%	1h	312.30	−1.015%	$326K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	315.74	+0.075%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.34	−0.051%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0760%	4h	315.42	−0.026%	—	$31.0M	—	as long as short
Variational Omni TAO	+0.0822%	4h	315.55	+0.016%	$5.5M	$8.9M	—	as long as short
Bybit TAOUSDT	+0.0832%	4h	315.70	+0.063%	$66.1M	$137.6M	50x	as long as short
Extended TAO-USD	+0.0896%	1h	315.28	−0.072%	$903K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0897%	1h	314.73	−0.245%	$318K	$814K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	315.37	−0.042%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	315.46	−0.014%	$451K	$630K	5x	as long as short
Hyperliquid TAO	+0.1238%	1h	315.87	+0.116%	$99.9M	$94.8M	5x	as long as short
Lighter TAO	+0.1424%	1h	315.82	+0.102%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−2.078%	$164K	$40K	10x	as long as short