Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.068%

Price spread now: BloFin against ApeX Omni+0.098%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.379%+$38 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.098%, 7d avg +0.008%

Together, before fees+0.267%+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.091% dearer against ApeX Omni than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	314.94	0.0100	pay 0.0013% / 1h	37m 40s	$46K	$252K	50x
Short	BloFin TAO-USDT	315.25	0.0340	get 0.0170% / 4h	37m 40s	$4.5M	$10.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.098%Rate

Funding earned: $50.4
Price spread: +0.098% → +0.008%: $9.09
Slippage, 4 orders: −$15.75
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $21.74
Costs to cover: 0.377%
Break-even: 4.0 days

Slippage from ApeX Omni: live order book, 19 min ago; BloFin: live order book, 6 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 ApeX Omni live order book, 19 min ago	5.36 bp	12.2 bp −$12	123.0 bp −$1,230	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.32 bp	6.3 bp −$6	10.7 bp −$107	23.8 bp −$2,383	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	−0.0482%	1h	315.13	+0.060%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.34	+0.127%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.54	+0.192%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.47	+0.168%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.82	−0.038%	$42K	$688K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.45	+0.162%	$90.9M	$491.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.30	+0.114%	$26.0M	$119.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.10	+0.051%	$12.9M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.44	+0.159%	$106.2M	$142.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.29	+0.111%	$17.5M	$31.7M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.10	+0.051%	$35.2M	$55.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.41	+0.150%	$35K	$302K	10x	as long as short
ApeX Omni TAOUSDTlong	+0.0100%	1h	314.94	long leg	$46K	$252K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	315.72	+0.248%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.83	+0.282%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.72	+0.248%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.42	+0.152%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.53	+0.187%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	314.95	+0.003%	$645	$787K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0104%	4h	316.85	+0.607%	$528K	$944K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.68	+0.235%	$173K	$998	3x	as long as short
Bybit TAOUSDT	+0.0110%	4h	315.48	+0.171%	$68.5M	$146.9M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	315.70	+0.241%	$57K	$275K	10x	as long as short
BingX TAO-USDT	+0.0128%	4h	315.26	+0.102%	—	$30.0M	—	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0151% / S +0.0123%	1h	315.51	+0.182%	$420K	—	100x	as long as short
Nado TAO-PERP	+0.0178%	1h	315.69	+0.239%	$805K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0184%	8h	315.51	+0.180%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0207%	4h	315.46	+0.165%	$1.2M	$10.2M	50x	as long as short
01 Exchange TAOUSD	+0.0256%	1h	315.19	+0.079%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0268%	1h	315.62	+0.216%	$93.5M	$105.6M	5x	as long as short
Extended TAO-USD	+0.0280%	1h	315.09	+0.047%	$922K	$2.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0339%	1h	315.78	+0.267%	$316K	$913K	10x	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	315.25	+0.098%	$4.5M	$10.9M	100x
Arcus TAO-USD	+0.0345%	1h	315.49	+0.175%	$99K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.46	+0.164%	$360K	$411K	10x	as long as short
Lighter TAO	+0.0392%	1h	315.68	+0.235%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0395%	1h	315.90	+0.306%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	317.30	+0.749%	$316K	$697K	5x	as long as short
Variational Omni TAO	+0.0615%	4h	315.95	+0.320%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.85	+0.287%	$363	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.16	+0.070%	$437K	$656K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	318.13	+1.013%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.483%	$23K	$2K	12x	as long as short