Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0332%/8h= +36.4% APRpaid last 24h +0.081%

Price spread now: 01 Exchange against Phemex−0.028%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 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. 01 Exchange is 0.028% cheaper against Phemex than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	316.90	0.0100	pay 0.0050% / 4h	1h 59m	$3.4M	$7.9M	50x
Short	01 Exchange TAOUSD	316.81	0.0432	get 0.0054% / 1h	59m 13s	$3K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.028%Rate

Funding earned: $69.72
Price spread: −0.028% → 0.000%: −$2.84
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $47.88
Costs to cover: 0.190%
Break-even: 2.2 days

Slippage unknown: Phemex: live order book, 5 min ago; 01 Exchange: 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, 5 min ago	6.59 bp	22.4 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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 42 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	−0.0185%	1h	315.28	−0.511%	$167K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.37	−0.168%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.53	−0.118%	$10K	—	150x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.11	+0.066%	$91.6M	$466.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.30	+0.126%	$26.3M	$114.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.80	−0.032%	$12.9M	$48.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.25	+0.110%	$103.9M	$137.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.97	+0.022%	$18.0M	$30.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.94	+0.013%	$35.4M	$53.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	317.02	+0.037%	$36K	$302K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TAO_USDC	+0.0100%	4h	316.83	−0.022%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.72	−0.057%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.81	−0.028%	$129K	$472K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	316.90	long leg	$3.4M	$7.9M	50x
Aevo TAO-PERP	+0.0104%	1h	317.17	+0.084%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	316.47	−0.136%	$673	$727K	5x	as long as short
ApeX Omni TAOUSDT	+0.0164%	1h	316.78	−0.038%	$47K	$252K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0166% / S +0.0103%	1h	316.52	−0.120%	$429K	—	100x	as long as short
Polymarket Perps TAO-USD	+0.0175%	1h	316.38	−0.164%	$76K	$721K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0198%	4h	317.41	+0.161%	$528K	$957K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0248%	1h	316.80	−0.032%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0275%	4h	316.57	−0.104%	$1.2M	$9.3M	50x	as long as short
Pacifica TAO	+0.0285%	1h	316.60	−0.096%	$374K	$393K	10x	as long as short
Popdex TAOUSDT	+0.0304%	1h	316.62	−0.088%	$43K	$642K	20x	as long as short
Arcus TAO-USD	+0.0337%	1h	317.08	+0.057%	$100K	$489K	5x	as long as short
Paradex TAO-USD-PERP	+0.0348%	8h	316.61	−0.092%	$14K	$1K	10x	as long as short
01 Exchange TAOUSDshort	+0.0432%	1h	316.81	−0.028%	$3K	$4K	5x
Bullet TAO-USD	+0.0450%	1h	316.88	−0.006%	$12K	$18K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0533%	1h	316.85	−0.016%	$14K	$1.6M	25x	as long as short
Phoenix TAO	+0.0588%	1h	318.30	+0.442%	$334K	$672K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0686%	1h	317.36	+0.145%	$321K	$805K	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.48	−0.133%	$364	—	20x	as long as short
BingX TAO-USDT	+0.0720%	4h	317.07	+0.054%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0722%	4h	317.09	+0.060%	$67.3M	$138.0M	50x	as long as short
Variational Omni TAO	+0.0848%	4h	316.96	+0.019%	$6.1M	$9.5M	—	as long as short
Extended TAO-USD	+0.0888%	1h	316.90	+0.001%	$896K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.057%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.63	−0.085%	$447K	$626K	5x	as long as short
Hyperliquid TAO	+0.1267%	1h	317.51	+0.192%	$100.0M	$97.3M	5x	as long as short
Nado TAO-PERP	+0.1313%	1h	316.67	−0.072%	$758K	$2.1M	10x	as long as short
Lighter TAO	+0.1424%	1h	317.31	+0.130%	$1.6M	$6.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.275%	$23K	$2K	12x	as long as short