Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX+0.143%7-day average +0.012% · you sell dearer than you buy

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

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.524%−$52 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.143%, 7d avg +0.012%

Together, before fees−0.632%−$63 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: Phemex is 0.131% dearer against SunX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	320.64	0.0100	pay 0.0050% / 4h	1h 37m	$1K	$1.9M	20x
Short	Phemex TAOUSDT	321.10	0.0100	get 0.0050% / 4h	1h 37m	$3.5M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → +0.012%: $13.14
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$6.86
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; Phemex: live order book, 2 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, 8 min ago	500.26 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	15.77 bp	32.2 bp −$32	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	−0.3652%	1h	316.49	−1.294%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.87	−0.240%	$128K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.43	−0.066%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.74	+0.031%	$45K	$657K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	320.82	+0.056%	$92.9M	$473.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.80	+0.050%	$26.4M	$117.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.60	−0.012%	$13.1M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	320.84	+0.062%	$109.5M	$139.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.79	+0.047%	$18.1M	$30.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.65	+0.003%	$35.8M	$54.0M	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	319.73	−0.283%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.70	+0.019%	$88K	$789K	5x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	320.64	long leg	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	320.50	−0.044%	$130K	$479K	20x	as long as short
Phemex TAOUSDTshort	+0.0100%	4h	321.10	+0.143%	$3.5M	$7.8M	50x
Aevo TAO-PERP	+0.0104%	1h	321.02	+0.120%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0106%	4h	320.91	+0.084%	$58K	$281K	10x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	320.61	−0.009%	$681	$759K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0163% / S +0.0106%	1h	320.42	−0.069%	$435K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0238%	4h	319.35	−0.404%	$531K	$957K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0245%	1h	320.86	+0.068%	$5.7M	$20.5M	50x	as long as short
Bullet TAO-USD	+0.0305%	1h	320.71	+0.022%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0322%	8h	320.56	−0.026%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0335%	4h	320.77	+0.040%	$1.2M	$9.3M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	319.17	−0.458%	$4.5M	$10.7M	100x	as long as short
Pacifica TAO	+0.0448%	1h	320.40	−0.074%	$378K	$396K	10x	as long as short
Phoenix TAO	+0.0504%	1h	320.50	−0.044%	$335K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	320.95	+0.097%	$101K	$489K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0513%	1h	320.89	+0.077%	$17K	$1.6M	25x	as long as short
Nado TAO-PERP	+0.0545%	1h	320.89	+0.079%	$778K	$2.1M	10x	as long as short
BingX TAO-USDT	+0.0608%	4h	320.76	+0.037%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0613%	4h	321.00	+0.112%	$68.5M	$140.6M	50x	as long as short
ApeX Omni TAOUSDT	+0.0686%	1h	319.20	−0.449%	$47K	$254K	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	320.79	+0.046%	$369	—	20x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	320.82	+0.056%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0878%	4h	320.22	−0.132%	$5.9M	$9.7M	—	as long as short
Lighter TAO	+0.0896%	1h	320.83	+0.061%	$1.6M	$6.3M	5x	as long as short
Extended TAO-USD	+0.0912%	1h	320.74	+0.030%	$939K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.1008%	1h	319.89	−0.234%	$440K	$860K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	321.24	+0.187%	$1.5M	$6.6M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	320.76	+0.037%	$456K	$628K	5x	as long as short
Hyperliquid TAO	+0.1380%	1h	321.14	+0.156%	$100.9M	$98.5M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	323.37	+0.851%	$24K	$2K	12x	as long as short