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: KuCoin against Phemex+0.086%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$810.808% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.413%+$41 on $10k

Price spread, last 4 days (all we have)−0.282%−$28 · spread now +0.086%, 7d avg −0.005%

Together, before fees+0.131%+$13 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: KuCoin is 0.091% dearer against Phemex than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	313.47	0.0100	pay 0.0050% / 4h	3h 28m	$3.1M	$8.1M	50x
Short	KuCoin TAOUSDTM	313.74	0.0100	get 0.0050% / 4h	3h 28m	$17.4M	$32.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → −0.005%: $9.12
Slippage, 4 orders: −$56.81
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$71.69
Costs to cover: 0.808%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; KuCoin: live order book, 11 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, 6 min ago	14.48 bp	25.3 bp −$25	45.2 bp −$452	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	1.27 bp	16.9 bp −$17	32.3 bp −$323	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	313.11	−0.115%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.14	−0.105%	$49K	$698K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.58	+0.035%	$68.5M	$155.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.60	+0.041%	$26.1M	$128.8M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.14	+0.533%	$167K	$0	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.20	−0.086%	$14.9M	$49.7M	50x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	313.74	+0.086%	$17.4M	$32.3M	75x
Bitget TAOUSDT	+0.0100%	4h	313.37	−0.032%	$35.2M	$57.1M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.50	−0.309%	$535K	$833K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.73	−0.236%	$45K	$255K	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	313.20	−0.086%	$86K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.95	−0.166%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.20	−0.086%	$115K	$588K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	313.47	long leg	$3.1M	$8.1M	50x
Katana Perps TAO-USD	+0.0101%	8h	312.92	−0.175%	$2K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	313.14	−0.106%	$172K	$998	3x	as long as short
MEXC TAO_USDT	+0.0128%	4h	313.58	+0.035%	$105.4M	$152.5M	300x	as long as short
Binance TAOUSDT	+0.0131%	4h	313.58	+0.035%	$91.3M	$525.5M	75x	as long as short
edgeX TAOUSDC	+0.0140%	4h	312.92	−0.177%	$41K	$322K	10x	as long as short
dYdX TAO-USD	+0.0193%	1h	312.95	−0.167%	$126K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0217%	4h	313.73	+0.083%	$53K	$298K	10x	as long as short
Paradex TAO-USD-PERP	+0.0232%	8h	313.30	−0.053%	$14K	$876	10x	as long as short
Bullet TAO-USD	+0.0245%	1h	313.60	+0.041%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0296%	4h	313.49	+0.005%	$1.2M	$11.2M	50x	as long as short
Extended TAO-USD	+0.0344%	1h	313.63	+0.051%	$887K	$2.3M	25x	as long as short
Pacifica TAO	+0.0349%	1h	313.22	−0.079%	$361K	$445K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0359% / S −0.0107%	1h	313.12	−0.112%	$368K	—	100x	as long as short
BloFin TAO-USDT	+0.0368%	4h	313.54	+0.022%	$4.8M	$10.7M	100x	as long as short
BingX TAO-USDT	+0.0386%	4h	313.47	0.000%	—	$38.4M	—	as long as short
Arcus TAO-USD	+0.0404%	1h	313.43	−0.013%	$99K	$362K	5x	as long as short
Hyperliquid TAO	+0.0477%	1h	313.43	−0.013%	$91.9M	$109.3M	5x	as long as short
Nado TAO-PERP	+0.0492%	1h	313.28	−0.061%	$759K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	313.60	+0.041%	$315K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	313.30	−0.054%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0593%	4h	312.65	−0.260%	$5.5M	$10.1M	—	as long as short
Lighter TAO	+0.0632%	1h	313.77	+0.096%	$1.6M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0666%	1h	313.66	+0.061%	$309K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	313.49	+0.006%	$361	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0712%	1h	313.76	+0.093%	$11K	$1.9M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0794%	1h	313.56	+0.030%	$6.0M	$21.3M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	313.04	−0.139%	$441K	$689K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	313.79	+0.102%	$1.1M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	318.23	+1.518%	$23K	$2K	12x	as long as short