Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0716%/8h= +78.4% APRpaid last 24h +0.020%

Price spread now: Extended against Phemex+0.347%7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.591%+$59 on $10k

Price spread, last 3 days (all we have)−0.479%−$48 · spread now +0.347%, 7d avg −0.051%

Together, before fees+0.112%+ Points / potential airdropExtended: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Extended is 0.397% dearer against Phemex than usual: you sell high and buy low: +$40 more if the spread goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	303.06	0.0100	pay 0.0050% / 4h	1h 29m	$3.2M	$7.9M	50x
Short	Extended TAO-USD	304.11	0.0816	get 0.0102% / 1h	29m 43s	$825K	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.347%Rate

Funding earned: $150.36
Price spread: +0.347% → −0.051%: $39.71
Slippage, 4 orders: −$32.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $140.97
Costs to cover: 0.491%
Break-even: 0.4 days

Slippage from Phemex: live order book, 4 min ago; Extended: 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 Phemex live order book, 4 min ago	5.11 bp	19.7 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	3.30 bp	6.1 bp −$6	8.2 bp −$82	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
dYdX TAO-USD	0.0000%	1h	303.40	+0.112%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	302.95	−0.036%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.04	−0.007%	$45K	$537K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	303.55	+0.162%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.86	+0.263%	$85.0M	$413.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	304.12	+0.350%	$58.8M	$121.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	304.20	+0.376%	$24.4M	$95.6M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	304.10	+0.343%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	303.38	+0.104%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.90	+0.277%	$12.1M	$48.8M	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	304.07	+0.333%	$111.2M	$125.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	303.76	+0.231%	$18.4M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	304.03	+0.320%	$33.9M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	304.12	+0.350%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.79	+0.240%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.27	+0.068%	$39K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	302.58	−0.158%	$500K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.45	+0.129%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.30	+0.079%	$74K	$595K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.27	+0.069%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.01	−0.016%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	302.98	−0.026%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.25	+0.063%	$122K	$364K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	303.06	long leg	$3.2M	$7.9M	50x
Aevo TAO-PERP	+0.0104%	1h	303.22	+0.051%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	303.60	+0.178%	$621	$496K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	303.77	+0.235%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.89	+0.273%	$359K	$372K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	302.95	−0.036%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0276%	1h	303.05	−0.003%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.24	+0.059%	$4.2M	$9.3M	100x	as long as short
Nado TAO-PERP	+0.0344%	1h	302.91	−0.049%	$817K	$1.9M	10x	as long as short
Lighter TAO	+0.0376%	1h	303.95	+0.295%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	303.94	+0.290%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0435%	1h	303.53	+0.155%	$378K	$756K	10x	as long as short
Phoenix TAO	+0.0521%	1h	304.00	+0.310%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.07	+0.003%	$349	—	20x	as long as short
Extended TAO-USDshort	+0.0816%	1h	304.11	+0.347%	$825K	$2.0M	25x
Coinbase International TAO-PERP-INTX	+0.1008%	1h	303.21	+0.049%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.09	+0.009%	$5.7M	$19.7M	50x	as long as short
Hyperliquid TAO	+0.1058%	1h	303.88	+0.271%	$92.2M	$80.5M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.93	+0.287%	$411K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.871%	$22K	$264	12x	as long as short