Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0543%/8h= +59.5% APRpaid last 24h +0.021%

Price spread now: Deribit against SunX+0.035%7-day average +0.028% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.163%−$16 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now +0.035%, 7d avg +0.028%

Together, before fees−0.169%−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: +$16 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.163%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.163% in total (about -8.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	318.85	0.0100	pay 0.0050% / 4h	1h 36m	$1K	$2.0M	20x
Short	Deribit TAO_USDC-PERPETUAL	318.96	0.0643	get 0.0080% / 1h	36m 25s	$11K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now +0.035%Rate

Funding earned: $114.03
Price spread: +0.035% → +0.028%: $0.67
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $99.7
Costs to cover: 0.150%
Break-even: 0.9 days

Slippage unknown: SunX: live order book, 10 min ago; Deribit: live order book, 3 min ago. Net counts fees only.

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 SunX live order book, 10 min ago	500.22 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	4.85 bp	8.4 bp −$8	14.6 bp −$146	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	−0.2019%	1h	319.65	+0.251%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.44	−0.128%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.52	−0.103%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.86	+0.003%	$42K	$703K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.50	−0.110%	$26.7M	$129.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.50	−0.110%	$14.2M	$51.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.71	−0.044%	$17.8M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.51	−0.107%	$35.7M	$58.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.72	+0.273%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.74	−0.034%	$80K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDTlong	+0.0100%	4h	318.85	long leg	$1K	$2.0M	20x
HTX TAO-USDT	+0.0100%	4h	318.70	−0.047%	$118K	$589K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	318.85	0.000%	$723	$1.0M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0120% / S +0.0157%	1h	318.50	−0.111%	$430K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.09	+0.074%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	318.53	−0.100%	$53K	$292K	10x	as long as short
edgeX TAOUSDC	+0.0158%	4h	319.79	+0.296%	$42K	$317K	10x	as long as short
MEXC TAO_USDT	+0.0160%	4h	318.93	+0.025%	$104.7M	$149.8M	300x	as long as short
Binance TAOUSDT	+0.0161%	4h	318.86	+0.002%	$92.2M	$527.8M	75x	as long as short
Paradex TAO-USD-PERP	+0.0257%	8h	318.78	−0.021%	$14K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0257%	4h	318.93	+0.025%	$3.2M	$8.1M	50x	as long as short
Aster TAOUSDT	+0.0314%	4h	318.71	−0.044%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0362%	4h	318.60	−0.078%	$69.6M	$155.9M	50x	as long as short
BingX TAO-USDT	+0.0370%	4h	318.78	−0.022%	—	$34.5M	—	as long as short
Bullet TAO-USD	+0.0384%	1h	318.89	+0.012%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0401%	4h	319.27	+0.132%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0402%	4h	319.74	+0.280%	$544K	$940K	10x	as long as short
Extended TAO-USD	+0.0480%	1h	318.84	−0.003%	$912K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	318.86	+0.004%	$363K	$423K	10x	as long as short
Variational Omni TAO	+0.0535%	4h	319.70	+0.266%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	319.70	+0.267%	$318K	$709K	5x	as long as short
Hyperliquid TAO	+0.0621%	1h	318.99	+0.044%	$94.3M	$110.1M	5x	as long as short
Nado TAO-PERP	+0.0628%	1h	318.98	+0.042%	$796K	$2.1M	10x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	319.15	+0.094%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	319.86	+0.317%	$103K	$394K	5x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0643%	1h	318.96	+0.035%	$11K	$1.9M	25x
Backpack TAO_USDC_PERP	+0.0670%	1h	318.93	+0.025%	$299K	$904K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	318.91	+0.018%	$367	—	20x	as long as short
Lighter TAO	+0.0824%	1h	319.05	+0.063%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.89	+0.640%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	318.82	−0.010%	$457K	$664K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1157%	1h	319.03	+0.058%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.63	+1.499%	$24K	$2K	12x	as long as short