Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Popdex+0.042%7-day average −0.114% · 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−$139as in the Price arb table

costs, in and out, $10k−$1551.548% of the position

Long on Popdex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 3 days (all we have)−0.116%−$12 · spread now +0.042%, 7d avg −0.114%

Together, before fees−0.135%−$13 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: HTX is 0.156% dearer against Popdex than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	307.10	0.0096	pay 0.0012% / 1h	7m 22s	$45K	$540K	20x
Short	HTX TAO-USDT	307.23	0.0100	get 0.0050% / 4h	1h 07m	$123K	$369K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $0.84
Price spread: +0.042% → −0.114%: $15.63
Slippage, 4 orders: −$136.37
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$138.3
Costs to cover: 1.548%
Break-even: 1159.5 days

Slippage from Popdex: live order book, 12 min ago; HTX: live order book, 11 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	3.43 bp	10.9 bp −$11	73.0 bp −$730	doesn't fit	doesn't fit
Sell HTX live order book, 11 min ago	25.13 bp	45.1 bp −$45	doesn't fit	doesn't fit	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	−0.0396%	1h	305.88	−0.399%	$163K	$52K	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	306.84	−0.085%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0012%	1h	306.74	−0.117%	$126K	$85K	5x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	307.10	long leg	$45K	$540K	20x
Binance TAOUSDT	+0.0100%	4h	307.08	−0.007%	$86.0M	$414.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.09	−0.003%	$59.6M	$121.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.00	−0.033%	$24.7M	$95.9M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.36	+0.085%	$80K	$643K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	307.00	−0.033%	$12.2M	$49.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.03	−0.023%	$114.8M	$126.1M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	307.13	+0.010%	$18.5M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	306.93	−0.055%	$34.2M	$45.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.09	−0.003%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.62	−0.157%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.22	+0.038%	$508K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	306.60	−0.163%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	307.20	+0.033%	$75K	$550K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.11	+0.003%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	306.95	−0.049%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.06	−0.013%	$2K	$1.8M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	307.23	+0.042%	$123K	$369K	20x
Phemex TAOUSDT	+0.0100%	4h	307.07	−0.010%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.31	+0.067%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	307.03	−0.023%	$2K	$511K	5x	as long as short
Variational Omni TAO	+0.0110%	4h	306.68	−0.136%	$3.7M	$6.7M	—	as long as short
Aster TAOUSDT	+0.0131%	4h	307.10	0.000%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	307.04	−0.019%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	307.16	+0.020%	$363K	$369K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	306.96	−0.044%	$438K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0275%	1h	307.17	+0.023%	$19K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0315%	1h	306.98	−0.038%	$829K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.89	−0.068%	$4.2M	$9.5M	100x	as long as short
Lighter TAO	+0.0360%	1h	307.17	+0.022%	$1.6M	$5.4M	5x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	307.33	+0.075%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0458%	1h	307.41	+0.101%	$295K	$800K	10x	as long as short
Phoenix TAO	+0.0521%	1h	307.10	0.000%	$321K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	307.06	−0.015%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.07	−0.009%	$834K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	307.79	+0.225%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1028%	1h	307.16	+0.020%	$5.8M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1145%	1h	307.61	+0.166%	$93.8M	$80.8M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	307.24	+0.046%	$418K	$533K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.531%	$22K	$264	12x	as long as short