Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Popdex against Aevo+0.051%7-day average −0.040% · 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−$216as in the Price arb table

costs, in and out, $10k−$2252.254% of the position

Long on Aevo Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.051%, 7d avg −0.040%

Together, before fees−0.111%−$11 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: Popdex is 0.091% dearer against Aevo than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	323.71	0.0112	pay 0.0014% / 1h	3m 42s	$178K	$998	3x
Short	Popdex TAOUSDT	323.88	0.0112	get 0.0014% / 1h	3m 42s	$42K	$686K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Aevo. 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 AevobpFee PopdexbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → −0.040%: $9.14
Slippage, 4 orders: −$203.02
Fee Aevo: 8 bp × 2 orders: −$16
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$216.29
Costs to cover: 2.254%
Break-even: never at this rate

Slippage from Aevo: live order book, 45 min ago; Popdex: live order book, 45 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 Aevo live order book, 45 min ago	72.17 bp	114.2 bp −$114	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 45 min ago	0.96 bp	9.0 bp −$9	74.9 bp −$749	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	−0.1195%	1h	319.01	−1.452%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.31	−0.124%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0027%	1h	323.34	−0.117%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.20	−0.159%	$26.9M	$128.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.20	−0.159%	$14.2M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.63	−0.026%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.99	−0.224%	$36.5M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.67	−0.014%	$81K	$968K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.21	−0.156%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	323.35	−0.113%	$118K	$566K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.11	−0.187%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	323.30	−0.128%	$3K	$962K	5x	as long as short
Popdex TAOUSDTshort	+0.0112%	1h	323.88	+0.051%	$42K	$686K	20x
Aevo TAO-PERPlong	+0.0112%	1h	323.71	long leg	$178K	$998	3x
Orderly PERP_TAO_USDC	+0.0119%	4h	323.57	−0.045%	$53K	$291K	10x	as long as short
edgeX TAOUSDC	+0.0123%	4h	321.43	−0.707%	$42K	$316K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0142%	1h	323.31	−0.126%	$435K	—	100x	as long as short
MEXC TAO_USDT	+0.0144%	4h	323.38	−0.103%	$103.5M	$149.1M	300x	as long as short
Binance TAOUSDT	+0.0144%	4h	323.49	−0.069%	$93.5M	$517.6M	75x	as long as short
Pacifica TAO	+0.0233%	1h	323.54	−0.054%	$368K	$421K	10x	as long as short
Nado TAO-PERP	+0.0288%	1h	323.67	−0.015%	$817K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0294%	1h	323.65	−0.020%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0295%	8h	323.38	−0.104%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0305%	4h	323.74	+0.008%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USD	+0.0325%	1h	323.67	−0.014%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0375%	4h	322.90	−0.252%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	323.25	−0.144%	—	$34.0M	—	as long as short
Bybit TAOUSDT	+0.0441%	4h	323.37	−0.107%	$70.9M	$154.5M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.525%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	323.71	−0.002%	$111K	$377K	5x	as long as short
Extended TAO-USD	+0.0496%	1h	323.12	−0.184%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	−0.066%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	−0.042%	$5.7M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0529%	1h	321.20	−0.777%	$47K	$257K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0586%	1h	323.60	−0.037%	$25K	$1.9M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	323.32	−0.122%	$372	—	20x	as long as short
Lighter TAO	+0.0808%	1h	323.81	+0.030%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0811%	1h	323.80	+0.026%	$95.5M	$109.5M	5x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	324.52	+0.249%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0852%	1h	323.20	−0.159%	$320K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	324.00	+0.088%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.40	−0.096%	$465K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	−0.029%	$24K	$2K	12x	as long as short