Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.035%

Price spread now: Aster against Popdex−0.057%52s7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.361% of the position

Long on Popdex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.140%+$14 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.057%, 7d avg +0.039%

Together, before fees+0.169%+ Points / potential airdropAster: Stage 5 · farm board+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.097% cheaper against Popdex than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of +0.039%). If the spread goes back, that is −$10 on $10k: about 2.7 days of funding at the current rate (+$4 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	315.10	0.0096	pay 0.0012% / 1h	47m 41s	$42K	$685K	20x
Short	Aster TAOUSDT	314.92	0.0214	get 0.0107% / 4h	47m 41s	$1.2M	$10.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Popdex. 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 PopdexbpFee AsterbpOrdersPrice spread, now −0.057%Rate

Funding earned: $24.75
Price spread: −0.057% → +0.039%: −$9.66
Slippage, 4 orders: −$21.71
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Aster: 4 bp × 2 orders: −$8
Net: −$21.02
Costs to cover: 0.361%
Break-even: 12.9 days

Slippage from Popdex: live order book, 11 min ago; Aster: live order book, 1 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 Popdex live order book, 11 min ago	1.26 bp	8.8 bp −$9	71.1 bp −$711	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	0.16 bp	6.3 bp −$6	17.6 bp −$176	133.8 bp −$13.4K	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
Bulk TAO-USD	−0.0499%	1h	315.15	+0.016%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.21	+0.036%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.52	−0.184%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.40	−0.221%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	315.10	long leg	$42K	$685K	20x
Binance TAOUSDT	+0.0100%	4h	315.72	+0.197%	$91.0M	$489.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	+0.286%	$26.0M	$119.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.10	0.000%	$12.9M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.08	−0.006%	$105.0M	$142.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.99	−0.035%	$17.5M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.39	+0.092%	$35.2M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.19	+0.345%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.46	−0.203%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.77	−0.105%	$89K	$789K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.79	−0.099%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.33	−0.244%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.48	−0.197%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.36	−0.235%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.57	−0.170%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	314.70	−0.127%	$2K	$784K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0122%	4h	316.28	+0.373%	$527K	$952K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.63	−0.149%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0153% / S +0.0116%	1h	314.51	−0.187%	$427K	—	100x	as long as short
Bybit TAOUSDT	+0.0159%	4h	316.11	+0.321%	$68.8M	$146.2M	50x	as long as short
01 Exchange TAOUSD	+0.0184%	1h	315.08	−0.006%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0197%	8h	314.59	−0.161%	$14K	$1K	10x	as long as short
Aster TAOUSDTshort	+0.0214%	4h	314.92	−0.057%	$1.2M	$10.1M	50x
BingX TAO-USDT	+0.0220%	4h	315.43	+0.105%	—	$30.1M	—	as long as short
Nado TAO-PERP	+0.0235%	1h	314.89	−0.067%	$816K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0238%	1h	315.65	+0.175%	$94.2M	$104.8M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0290%	1h	314.95	−0.048%	$315K	$910K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0340%	1h	314.54	−0.177%	$12K	$1.6M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.22	−0.279%	$4.5M	$10.8M	100x	as long as short
Extended TAO-USD	+0.0344%	1h	314.93	−0.055%	$922K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.12	+0.006%	$99K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.68	+0.184%	$362K	$409K	10x	as long as short
Lighter TAO	+0.0392%	1h	315.74	+0.204%	$1.5M	$6.4M	5x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.190%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0651%	4h	314.33	−0.244%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.75	−0.110%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.18	+0.027%	$434K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.77	+0.213%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.431%	$23K	$2K	12x	as long as short