Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Binance against Popdex+0.033%7-day average 0.000% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Popdex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.033%, 7d avg 0.000%

Together, before fees−0.121%−$12 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: Binance is 0.033% dearer against Popdex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	318.03	0.0096	pay 0.0012% / 1h	15m 56s	$53K	$672K	20x
Short	Binance TAOUSDT	318.13	0.0100	get 0.0050% / 4h	2h 15m	$91.3M	$512.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.033%Rate

Funding earned: $0.84
Price spread: +0.033% → 0.000%: $3.27
Slippage, 4 orders: −$14.55
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$26.84
Costs to cover: 0.309%
Break-even: 230.7 days

Slippage from Popdex: live order book, 33 min ago; Binance: live order book, 13 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, 33 min ago	0.96 bp	7.4 bp −$7	68.8 bp −$688	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.16 bp	6.3 bp −$6	14.8 bp −$148	35.9 bp −$3,593	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	−0.0038%	1h	313.74	−1.349%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.64	−0.123%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0035%	1h	317.64	−0.124%	$127K	$85K	5x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	318.03	long leg	$53K	$672K	20x
Binance TAOUSDTshort	+0.0100%	4h	318.13	+0.033%	$91.3M	$512.5M	75x
OKX TAO-USDT-SWAP	+0.0100%	8h	317.80	−0.072%	$26.6M	$125.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.60	−0.135%	$14.1M	$51.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	318.12	+0.028%	$100.5M	$147.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.85	−0.057%	$17.5M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.73	−0.094%	$35.8M	$57.4M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	318.55	+0.164%	$42K	$316K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.82	−0.066%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.56	−0.148%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.04	−0.311%	$116K	$565K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.80	−0.072%	$3.2M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.02	−0.002%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	318.03	0.000%	$2K	$942K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0117%	4h	317.93	−0.031%	$53K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0127% / S +0.0141%	1h	317.59	−0.139%	$425K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	318.03	+0.001%	$363K	$420K	10x	as long as short
Aster TAOUSDT	+0.0260%	4h	317.97	−0.019%	$1.3M	$10.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0273%	8h	317.97	−0.018%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0279%	1h	318.01	−0.007%	$799K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0299%	1h	318.27	+0.074%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0329%	1h	317.95	−0.024%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.89	−0.044%	$4.6M	$11.0M	100x	as long as short
Bybit TAOUSDT	+0.0393%	4h	318.27	+0.075%	$69.4M	$153.5M	50x	as long as short
BingX TAO-USDT	+0.0400%	4h	318.07	+0.013%	—	$33.7M	—	as long as short
GRVT TAO_USDT_Perp	+0.0448%	4h	318.95	+0.290%	$545K	$935K	10x	as long as short
Variational Omni TAO	+0.0459%	4h	318.52	+0.154%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	318.34	+0.097%	$103K	$345K	5x	as long as short
Extended TAO-USD	+0.0496%	1h	318.03	+0.001%	$906K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	319.50	+0.462%	$318K	$713K	5x	as long as short
ApeX Omni TAOUSDT	+0.0520%	1h	319.52	+0.469%	$45K	$256K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0606%	1h	318.01	−0.005%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	317.92	−0.034%	$366	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	318.22	+0.060%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	318.12	+0.027%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0820%	1h	318.05	+0.006%	$93.4M	$109.4M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0835%	1h	317.99	−0.013%	$315K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	318.49	+0.145%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	318.06	+0.011%	$459K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+1.544%	$23K	$2K	12x	as long as short