Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.016%

Price spread now: HTX against Phemex−0.105%7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1451.448% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.363%+$36 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.105%, 7d avg −0.112%

Together, before fees+0.304%+$30 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	315.34	0.0100	pay 0.0050% / 4h	3h 24m	$3.2M	$8.1M	50x
Short	HTX TAO-USDT	315.01	0.0100	get 0.0050% / 4h	3h 24m	$114K	$575K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → −0.112%: $0.78
Slippage, 4 orders: −$120.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$144.02
Costs to cover: 1.448%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; HTX: live order book, 9 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, 5 min ago	3.03 bp	19.2 bp −$19	44.0 bp −$440	doesn't fit	doesn't fit
Sell HTX live order book, 9 min ago	16.57 bp	22.8 bp −$23	doesn't fit	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	313.51	−0.579%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.63	−0.225%	$50K	$698K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	316.28	+0.298%	$69.0M	$154.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	+0.241%	$26.3M	$129.3M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.14	−0.063%	$167K	$0	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.10	+0.241%	$15.0M	$49.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.51	+0.054%	$17.5M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.42	+0.342%	$35.6M	$56.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.76	−0.501%	$45K	$256K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.33	−0.320%	$86K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	315.43	+0.029%	$2K	$1.9M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	315.01	−0.105%	$114K	$575K	20x
Phemex TAOUSDTlong	+0.0100%	4h	315.34	long leg	$3.2M	$8.1M	50x
Katana Perps TAO-USD	+0.0106%	8h	314.36	−0.311%	$2K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	314.50	−0.267%	$173K	$998	3x	as long as short
edgeX TAOUSDC	+0.0131%	4h	313.79	−0.493%	$41K	$320K	10x	as long as short
BingX TAO-USDT	+0.0136%	4h	316.17	+0.263%	—	$38.9M	—	as long as short
MEXC TAO_USDT	+0.0138%	4h	316.22	+0.279%	$106.6M	$152.7M	300x	as long as short
Binance TAOUSDT	+0.0141%	4h	317.38	+0.647%	$92.7M	$523.5M	75x	as long as short
GRVT TAO_USDT_Perp	+0.0176%	4h	314.00	−0.426%	$532K	$838K	10x	as long as short
dYdX TAO-USD	+0.0204%	1h	313.52	−0.577%	$126K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0224%	4h	315.30	−0.013%	$54K	$298K	10x	as long as short
Paradex TAO-USD-PERP	+0.0232%	8h	314.59	−0.239%	$14K	$876	10x	as long as short
Bullet TAO-USD	+0.0267%	1h	314.89	−0.143%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0306%	4h	317.00	+0.526%	$1.2M	$11.2M	50x	as long as short
Pacifica TAO	+0.0349%	1h	313.98	−0.432%	$362K	$445K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	314.52	−0.262%	$369K	—	100x	as long as short
Extended TAO-USD	+0.0368%	1h	315.55	+0.066%	$891K	$2.3M	25x	as long as short
BloFin TAO-USDT	+0.0379%	4h	314.19	−0.365%	$4.8M	$10.8M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	314.91	−0.136%	$99K	$360K	5x	as long as short
Nado TAO-PERP	+0.0487%	1h	314.43	−0.288%	$757K	$1.9M	10x	as long as short
Hyperliquid TAO	+0.0490%	1h	316.28	+0.298%	$92.7M	$107.6M	5x	as long as short
Phoenix TAO	+0.0578%	1h	313.60	−0.552%	$315K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	314.99	−0.111%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0597%	4h	313.84	−0.474%	$5.5M	$10.1M	—	as long as short
Lighter TAO	+0.0688%	1h	315.69	+0.112%	$1.6M	$6.7M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0698%	1h	317.03	+0.536%	$312K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	315.57	+0.074%	$363	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0789%	1h	315.52	+0.057%	$6.1M	$21.3M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0794%	1h	315.60	+0.082%	$11K	$1.9M	25x	as long as short
RISEx TAO/USDC	+0.0840%	1h	314.66	−0.216%	$448K	$686K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	315.54	+0.063%	$1.1M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	318.23	+0.916%	$23K	$2K	12x	as long as short