Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0561%/8h= +61.4% APRpaid last 24h −0.004%

Price spread now: Phemex against ApeX Omni−0.099%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$810.812% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.482%−$48 on $10k

Price spread, last 4 days (all we have)+0.105%+$10 · spread now −0.099%, 7d avg −0.006%

Together, before fees−0.378%−$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.094% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.099% now, against its 7-day average of −0.006%). If the spread goes back, that is −$9 on $10k: about 13 hours of funding at the current rate (+$17 a day). Mind the row above: over the last 7 days funding on this pair cost −0.482%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	311.85	0.0100	pay 0.0013% / 1h	43m 16s	$46K	$254K	50x
Short	Phemex TAOUSDT	311.54	0.0661	get 0.0330% / 4h	3h 43m	$3.2M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.099%Rate

Funding earned: $117.81
Price spread: −0.099% → −0.006%: −$9.37
Slippage, 4 orders: −$59.18
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $27.25
Costs to cover: 0.812%
Break-even: 5.4 days

Slippage from ApeX Omni: live order book, 8 min ago; Phemex: 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, 8 min ago	5.43 bp	13.1 bp −$13	115.2 bp −$1,152	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	13.46 bp	25.1 bp −$25	39.0 bp −$390	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
Kraken Futures PF_TAOUSD	−0.0349%	1h	311.35	−0.159%	$5.5M	$20.7M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	311.44	−0.132%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.12	−0.234%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.79	−0.019%	$45K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.48	−0.119%	$638	$818K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.72	−0.041%	$356K	$413K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.53	−0.103%	$89.4M	$498.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.61	−0.077%	$67.0M	$150.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.40	−0.144%	$25.8M	$120.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.30	−0.176%	$13.0M	$49.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	311.56	−0.093%	$101.1M	$144.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.36	−0.157%	$17.7M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.94	−0.292%	$34.8M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.45	−0.128%	—	$33.1M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.19	+0.110%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.95	+0.031%	$529K	$955K	10x	as long as short
ApeX Omni TAOUSDTlong	+0.0100%	1h	311.85	long leg	$46K	$254K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	311.38	−0.151%	$82K	$870K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.47	−0.120%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.33	−0.167%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.93	−0.295%	$109K	$537K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.47	−0.122%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0114%	4h	311.27	−0.186%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0115%	4h	311.49	−0.114%	$1.2M	$10.4M	50x	as long as short
Bulk TAO-USD	+0.0125%	1h	311.89	+0.013%	$166K	$333	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0141% / S +0.0131%	1h	311.08	−0.247%	$415K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0143%	8h	311.53	−0.104%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0192%	1h	311.30	−0.176%	$913K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.97	+0.038%	$101K	$392K	5x	as long as short
Hyperliquid TAO	+0.0237%	1h	311.59	−0.083%	$91.4M	$107.3M	5x	as long as short
Nado TAO-PERP	+0.0264%	1h	311.58	−0.087%	$789K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0324%	4h	312.10	+0.080%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.44	−0.131%	$4.5M	$10.7M	100x	as long as short
Lighter TAO	+0.0408%	1h	311.71	−0.044%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0415%	1h	311.56	−0.093%	$309K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0424%	1h	311.98	+0.042%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0452%	1h	311.39	−0.147%	$24K	$1.8M	25x	as long as short
Phoenix TAO	+0.0457%	1h	312.50	+0.208%	$311K	$711K	5x	as long as short
Phemex TAOUSDTshort	+0.0661%	4h	311.54	−0.099%	$3.2M	$8.1M	50x
Reya TAORUSDPERP	+0.0697%	1h	311.43	−0.136%	$358	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.75	−0.032%	$435K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.01	+0.051%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+1.773%	$23K	$2K	12x	as long as short