Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against Phemex+0.516%78s7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as 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−$470.471% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.461%+$46 on $10k

Price spread, last 3 days (all we have)−0.586%−$59 · spread now +0.516%, 7d avg −0.011%

Together, before fees−0.125%+ Points / potential airdropedgeX: Active · farm board−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.527% dearer against Phemex than usual: you sell high and buy low, +$53 on $10k if it goes back to its 7-day average of −0.011%. The two prices were read 78 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	Phemex TAOUSDT	308.15	0.0100	pay 0.0050% / 4h	2h 09m	$3.3M	$7.9M	50x
Short	edgeX TAOUSDC	309.74	0.0100	get 0.0050% / 4h	2h 09m	$40K	$278K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.516%Rate

Funding earned: $0
Price spread: +0.516% → −0.011%: $52.75
Slippage, 4 orders: −$26.13
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $5.62
Costs to cover: 0.471%
Break-even: from the start

Slippage from Phemex: live order book, 4 min ago; edgeX: live order book, 13 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 Phemex live order book, 4 min ago	1.62 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 13 min ago	6.50 bp	11.0 bp −$11	24.4 bp −$244	doesn't fit	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	−0.0601%	1h	309.73	+0.513%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	308.16	+0.004%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	308.47	+0.103%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0033%	1h	308.32	+0.054%	$14K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.72	+0.185%	$41K	$530K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.59	+0.143%	$365K	$367K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.68	−0.152%	$86.2M	$405.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.84	−0.101%	$59.9M	$119.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.00	−0.049%	$25.4M	$93.6M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.85	+0.227%	$138K	$603K	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.60	−0.178%	$12.3M	$48.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.77	−0.123%	$117.9M	$125.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.73	−0.136%	$18.6M	$26.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.62	−0.172%	$34.5M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.75	−0.130%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.99	−0.053%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDCshort	+0.0100%	4h	309.74	+0.516%	$40K	$278K	10x
GRVT TAO_USDT_Perp	+0.0100%	4h	308.77	+0.203%	$549K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.90	+0.568%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.72	+0.185%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.63	+0.157%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.41	+0.084%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.54	+0.127%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	308.56	+0.133%	$122K	$353K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	308.15	long leg	$3.3M	$7.9M	50x
Aevo TAO-PERP	+0.0104%	1h	308.47	+0.102%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	308.68	+0.172%	$882	$449K	5x	as long as short
Aster TAOUSDT	+0.0154%	4h	307.92	−0.075%	$1.1M	$7.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0158%	8h	308.60	+0.147%	$14K	$1K	10x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	+0.211%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0303%	1h	308.51	+0.116%	$853K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	308.31	+0.052%	$4.3M	$9.5M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0485% / S −0.0184%	1h	308.38	+0.075%	$453K	—	100x	as long as short
01 Exchange TAOUSD	+0.0528%	1h	309.10	+0.308%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	308.59	+0.143%	$355	—	20x	as long as short
Extended TAO-USD	+0.0736%	1h	307.81	−0.111%	$907K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0935%	1h	308.20	+0.016%	$383K	$754K	10x	as long as short
Lighter TAO	+0.0936%	1h	308.76	+0.197%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	310.60	+0.795%	$1.5M	$5.5M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1022%	1h	308.56	+0.134%	$6.4M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	308.82	+0.217%	$413K	$542K	5x	as long as short
Hyperliquid TAO	+0.1821%	1h	308.47	+0.104%	$96.5M	$77.4M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	+0.188%	$22K	$271	12x	as long as short