Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Polymarket Perps−0.066%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 3 days (all we have)−0.189%−$19 · spread now −0.066%, 7d avg −0.012%

Together, before fees−0.050%−$5 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: BingX is 0.054% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TAO-USD	302.74	0.0100	pay 0.0013% / 1h	35m 38s	$77K	$601K	5x
Short	BingX TAO-USDT	302.54	0.0100	get 0.0050% / 4h	1h 35m	—	$30.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Polymarket Perps. 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 Polymarket PerpsbpFee BingXbpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → −0.012%: −$5.4
Slippage, 4 orders: −$8.12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$31.52
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 47 min ago; BingX: live order book, 3 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 Polymarket Perps live order book, 47 min ago	2.28 bp	6.3 bp −$6	7.5 bp −$75	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	0.66 bp	7.3 bp −$7	9.1 bp −$91	23.7 bp −$2,367	51.6 bp −$25.8K

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	−0.0186%	1h	303.81	+0.353%	$162K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	302.17	−0.188%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	302.25	−0.161%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	302.59	−0.050%	$44K	$535K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	302.54	−0.066%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	302.57	−0.056%	$84.8M	$412.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	302.65	−0.030%	$58.5M	$121.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	302.70	−0.013%	$24.3M	$94.8M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	302.72	−0.007%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	302.30	−0.145%	$12.1M	$48.7M	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	302.52	−0.073%	$110.0M	$124.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	302.27	−0.155%	$18.4M	$27.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	302.51	−0.076%	$33.8M	$46.0M	50x	as long as short
BingX TAO-USDTshort	+0.0100%	4h	302.54	−0.066%	—	$30.3M	—
Variational Omni TAO	+0.0100%	4h	303.66	+0.304%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.35	+0.202%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.49	+0.248%	$502K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.30	+0.185%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USDlong	+0.0100%	1h	302.74	long leg	$77K	$601K	5x
Bullet TAO-USD	+0.0100%	1h	302.51	−0.076%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	302.38	−0.119%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	302.27	−0.155%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	302.44	−0.099%	$121K	$363K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	302.27	−0.155%	$3.2M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	302.73	−0.002%	$166K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	302.59	−0.050%	$619	$491K	5x	as long as short
Paradex TAO-USD-PERP	+0.0154%	8h	302.44	−0.098%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	302.58	−0.053%	$357K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	302.23	−0.167%	$431K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0208%	1h	302.39	−0.116%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.21	+0.155%	$4.2M	$9.3M	100x	as long as short
Lighter TAO	+0.0344%	1h	302.72	−0.006%	$1.6M	$5.3M	5x	as long as short
Nado TAO-PERP	+0.0373%	1h	302.56	−0.059%	$816K	$1.9M	10x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	302.67	−0.023%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0425%	1h	302.32	−0.139%	$376K	$757K	10x	as long as short
Phoenix TAO	+0.0521%	1h	304.10	+0.449%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	302.66	−0.025%	$348	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	302.39	−0.115%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	302.58	−0.053%	$1.4M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1045%	1h	302.28	−0.153%	$5.7M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1081%	1h	302.81	+0.023%	$91.9M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	302.78	+0.013%	$410K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.979%	$22K	$264	12x	as long as short