Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against Popdex−0.086%7-day average −0.032% · 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−$63as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Popdex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now −0.086%, 7d avg −0.032%

Together, before fees+0.094%+$9 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: Gate is 0.054% cheaper against Popdex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	315.77	0.0096	pay 0.0012% / 1h	1m 49s	$39K	$568K	20x
Short	Gate TAO_USDT	315.50	0.0100	get 0.0050% / 4h	1m 49s	$12.6M	$50.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.086%Rate

Funding earned: $0.84
Price spread: −0.086% → −0.032%: −$5.35
Slippage, 4 orders: −$35.98
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$61.89
Costs to cover: 0.574%
Break-even: 522.8 days

Slippage from Popdex: live order book, 12 min ago; Gate: live order book, 2 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, 12 min ago	1.12 bp	11.8 bp −$12	103.9 bp −$1,039	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	3.16 bp	17.8 bp −$18	30.7 bp −$307	68.7 bp −$6,873	116.4 bp −$58.2K

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	−0.2086%	1h	311.96	−1.207%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.75	−0.323%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.55	−0.069%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	315.12	−0.206%	$23K	$374	12x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	315.77	long leg	$39K	$568K	20x
Pacifica TAO	+0.0100%	1h	315.35	−0.133%	$373K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.35	−0.133%	$89.5M	$431.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.54	−0.073%	$64.9M	$128.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.40	−0.117%	$25.4M	$103.5M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	315.50	−0.086%	$12.6M	$50.7M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	315.71	−0.019%	$111.6M	$132.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.64	−0.041%	$18.8M	$28.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.18	−0.187%	$35.2M	$47.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.29	−0.152%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.07	−0.855%	$41K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.90	−0.910%	$524K	$952K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.33	−1.089%	$47K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.85	+0.025%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.72	−0.016%	$61K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.61	−0.051%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.47	−0.095%	$129K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.87	+0.032%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.23	+0.147%	$174K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0111%	1h	315.94	+0.054%	$77K	$450K	5x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	315.77	0.000%	$1K	$577K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	315.57	−0.065%	$450K	—	100x	as long as short
Arcus TAO-USD	+0.0186%	1h	315.76	−0.003%	$83K	$545K	5x	as long as short
Aster TAOUSDT	+0.0187%	4h	315.50	−0.087%	$1.1M	$7.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0198%	8h	315.39	−0.120%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0220%	4h	312.31	−1.095%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.59	−0.057%	$4.4M	$10.6M	100x	as long as short
Nado TAO-PERP	+0.0431%	1h	315.72	−0.015%	$857K	$2.0M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0443%	1h	315.89	+0.039%	$25K	$1.5M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0444%	1h	316.13	+0.115%	$5.8M	$19.9M	50x	as long as short
Phoenix TAO	+0.0537%	1h	315.70	−0.022%	$330K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0546%	1h	315.95	+0.057%	$314K	$813K	10x	as long as short
01 Exchange TAOUSD	+0.0592%	1h	316.01	+0.076%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	315.77	+0.001%	$363	—	20x	as long as short
Extended TAO-USD	+0.0888%	1h	315.64	−0.042%	$926K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	317.76	+0.630%	$1.5M	$5.9M	50x	as long as short
Lighter TAO	+0.1192%	1h	316.45	+0.217%	$1.7M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	315.82	+0.015%	$418K	$585K	5x	as long as short
Hyperliquid TAO	+0.1589%	1h	316.29	+0.165%	$99.1M	$84.8M	5x	as long as short