Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bullet against Phemex−0.017%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	303.62	0.0100	pay 0.0050% / 4h	1h 26m	$3.2M	$7.9M	50x
Short	Bullet TAO-USD	303.57	0.0100	get 0.0013% / 1h	26m 01s	$11K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Phemex. 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 PhemexbpFee BulletbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → 0.000%: −$1.7
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$21.7
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Bullet: no order-book sample. Net counts fees only.

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 Phemex live order book, 3 min ago	6.91 bp	18.6 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0007%	1h	303.31	−0.103%	$26K	—	150x	as long as short
dYdX TAO-USD	+0.0020%	1h	303.22	−0.132%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.65	+0.010%	$45K	$538K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	303.56	−0.020%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.58	−0.013%	$84.9M	$414.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.59	−0.010%	$58.7M	$121.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.50	−0.040%	$24.4M	$95.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.69	+0.023%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	303.38	−0.080%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.30	−0.105%	$12.1M	$48.9M	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	303.51	−0.036%	$111.4M	$125.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	303.61	−0.003%	$18.4M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.24	−0.125%	$33.9M	$46.1M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.50	−0.040%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.79	+0.055%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.78	+0.054%	$39K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.76	+0.045%	$502K	$967K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.79	+0.056%	$74K	$580K	5x	as long as short
Bullet TAO-USDshort	+0.0100%	1h	303.57	−0.017%	$11K	$18K	20x
Orderly PERP_TAO_USDC	+0.0100%	4h	303.68	+0.020%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.61	−0.003%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.77	+0.049%	$122K	$364K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	303.62	long leg	$3.2M	$7.9M	50x
Aevo TAO-PERP	+0.0104%	1h	303.72	+0.035%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	303.56	−0.020%	$622	$501K	5x	as long as short
ApeX Omni TAOUSDT	+0.0112%	1h	303.77	+0.049%	$46K	$269K	50x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	303.06	−0.184%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.26	−0.119%	$358K	$372K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.30	−0.104%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0339%	1h	303.71	+0.031%	$22K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0340%	1h	303.48	−0.045%	$819K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.15	−0.155%	$4.2M	$9.3M	100x	as long as short
Lighter TAO	+0.0376%	1h	303.85	+0.076%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	303.75	+0.043%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0440%	1h	303.58	−0.013%	$292K	$799K	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.50	−0.040%	$321K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.68	+0.019%	$349	—	20x	as long as short
Extended TAO-USD	+0.0816%	1h	303.39	−0.074%	$825K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	304.46	+0.277%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1040%	1h	303.64	+0.007%	$5.7M	$19.7M	50x	as long as short
Hyperliquid TAO	+0.1055%	1h	303.87	+0.083%	$92.3M	$80.5M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.63	+0.002%	$411K	$544K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.683%	$22K	$264	12x	as long as short