Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.4122%/8h= +451.4% APRpaid last 24h +0.613%

Price spread now: Injective against SunX+0.883%61s7-day average — · you sell dearer than you buy

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

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.378%+$338 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$124 a day on $10k at the current rate, and Injective is 0.883% dearer against SunX than usual: you sell high and buy low: +$88 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 61 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	SunX TAO-USDT	314.89	0.0100	pay 0.0050% / 4h	3h 59m	$1K	$1.9M	20x
Short	Injective TAO/USDC PERP	317.67	0.4222	get 0.0528% / 1h	59m 27s	$23K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.883%Rate

Funding earned: $865.67
Price spread: +0.883% → 0.000%: $88.28
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $945.94
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 7 min ago; Injective: no order-book sample. 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, 7 min ago	500.14 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
dYdX TAO-USD	0.0000%	1h	314.89	−0.001%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.61	−0.091%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.96	+0.021%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.98	+0.029%	$43K	$659K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.86	−0.010%	$2K	$800K	5x	as long as short
Nado TAO-PERP	+0.0100%	1h	315.10	+0.066%	$801K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0100%	1h	315.18	+0.093%	$92.7M	$106.7M	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.00	+0.036%	$91.0M	$495.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.05	+0.051%	$67.9M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.90	+0.003%	$26.0M	$120.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk TAO-USD	+0.0100%	1h	314.80	−0.029%	$167K	$2K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.80	−0.029%	$13.0M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.77	−0.038%	$100.9M	$143.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.83	−0.019%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.75	−0.044%	$35.2M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.20	+0.098%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.12	+0.072%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.30	+0.131%	$535K	$969K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.19	+0.095%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.80	−0.029%	$77K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.86	−0.009%	$12K	$18K	20x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	314.89	long leg	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	314.70	−0.060%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.90	+0.003%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.09	+0.062%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	315.02	+0.041%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0144% / S +0.0123%	1h	314.89	0.000%	$428K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0148%	8h	315.25	+0.113%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0155%	4h	315.09	+0.064%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0216%	1h	315.00	+0.034%	$923K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0296%	1h	315.07	+0.057%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.07	+0.057%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.47	+0.184%	$101K	$440K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.09	+0.064%	$359K	$412K	10x	as long as short
Backpack TAO_USDC_PERP	+0.0365%	1h	314.90	+0.003%	$313K	$913K	10x	as long as short
Lighter TAO	+0.0384%	1h	315.34	+0.144%	$1.5M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0396%	4h	315.16	+0.086%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0455%	1h	315.11	+0.070%	$22K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.194%	$314K	$695K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.95	+0.018%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	315.14	+0.081%	$439K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.59	+0.222%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERPshort	+0.4222%	1h	317.67	+0.883%	$23K	$2K	12x