Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0652%/8h= −71.4% APRpaid last 24h −0.101%

Price spread now: OKX against 01 Exchange−0.022%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and OKX is 0.022% cheaper against 01 Exchange than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange TAOUSD	317.27	0.0752	pay 0.0094% / 1h	40m 02s	$3K	$4K	5x
Short	OKX TAO-USDT-SWAP	317.20	0.0100	get 0.0100% / 8h	40m 02s	$26.3M	$130.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against 01 Exchange. 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 01 ExchangebpFee OKXbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$136.92
Price spread: −0.022% → 0.000%: −$2.21
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$156.13
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; OKX: live order book, 4 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 01 Exchange no order-book sample	—	—	—	—	—
Sell OKX live order book, 4 min ago	1.57 bp	6.6 bp −$7	14.7 bp −$147	55.6 bp −$5,561	doesn't fit

01 Exchange: 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.22	−0.016%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0047%	1h	317.86	+0.184%	$127K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.17	−0.032%	$44K	$709K	20x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	317.20	−0.022%	$26.3M	$130.2M	50x
Gate TAO_USDT	+0.0100%	4h	317.00	−0.085%	$14.4M	$51.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.32	+0.016%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.10	−0.054%	$35.7M	$57.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.04	−0.072%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.16	−0.035%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.95	−0.101%	$116K	$604K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0107%	8h	317.02	−0.079%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0108% / S +0.0133%	1h	317.16	−0.035%	$408K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	317.50	+0.073%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0149%	4h	317.48	+0.066%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0183%	4h	318.77	+0.474%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0184%	4h	317.30	+0.009%	$100.0M	$151.3M	300x	as long as short
Binance TAOUSDT	+0.0185%	4h	317.09	−0.055%	$92.0M	$529.9M	75x	as long as short
Paradex TAO-USD-PERP	+0.0248%	8h	318.17	+0.284%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0287%	4h	317.40	+0.041%	$69.5M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0298%	4h	317.23	−0.013%	—	$37.0M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0306%	1h	317.41	+0.045%	$15K	$2.0M	25x	as long as short
ApeX Omni TAOUSDT	+0.0309%	1h	318.62	+0.426%	$46K	$260K	50x	as long as short
Pacifica TAO	+0.0313%	1h	317.76	+0.153%	$361K	$429K	10x	as long as short
Bulk TAO-USD	+0.0314%	1h	317.73	+0.145%	$169K	$333	10x	as long as short
Bullet TAO-USD	+0.0324%	1h	317.30	+0.009%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0334%	4h	318.97	+0.537%	$544K	$926K	10x	as long as short
Aster TAOUSDT	+0.0342%	4h	317.31	+0.013%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0352%	1h	317.26	−0.004%	$903K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0424%	4h	318.98	+0.539%	$4.7M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.49	+0.069%	$102K	$381K	5x	as long as short
Nado TAO-PERP	+0.0530%	1h	317.13	−0.045%	$786K	$2.0M	10x	as long as short
Phemex TAOUSDT	+0.0537%	4h	317.20	−0.022%	$3.2M	$8.2M	50x	as long as short
Variational Omni TAO	+0.0537%	4h	318.96	+0.534%	$5.6M	$10.2M	—	as long as short
Lighter TAO	+0.0584%	1h	317.49	+0.068%	$1.6M	$6.9M	5x	as long as short
Phoenix TAO	+0.0629%	1h	319.50	+0.703%	$318K	$703K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.24	−0.009%	$365	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0731%	1h	317.33	+0.019%	$292K	$906K	10x	as long as short
01 Exchange TAOUSDlong	+0.0752%	1h	317.27	long leg	$3K	$4K	5x
Hyperliquid TAO	+0.0769%	1h	317.45	+0.057%	$93.9M	$110.2M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.04	−0.073%	$447K	$670K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0835%	1h	317.39	+0.038%	$5.9M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.03	+0.555%	$1.5M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+1.787%	$23K	$2K	12x	as long as short