Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.009%

Price spread now: SunX against ApeX Omni+0.135%73s7-day average −0.011% · you sell dearer than you buy

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

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.135%, 7d avg −0.011%

Together, before fees−0.015%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.146% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.135% now, against its 7-day average of −0.011%): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days. At the pace of the last 7 days (−0.002% in total) that is about 18 months. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	319.58	0.0139	pay 0.0017% / 1h	9m 51s	$46K	$259K	50x
Short	SunX TAO-USDT	320.01	0.0100	get 0.0050% / 4h	9m 51s	$1K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$8.25
Price spread: +0.135% → −0.011%: $14.58
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$11.67
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 27 min ago; SunX: live order book, 6 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 ApeX Omni live order book, 27 min ago	4.90 bp	12.2 bp −$12	126.9 bp −$1,269	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	500.16 bp	doesn't fit	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	319.93	+0.110%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0070%	1h	319.31	−0.084%	$128K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.68	+0.031%	$47K	$714K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.80	+0.069%	$26.6M	$132.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.60	+0.006%	$14.8M	$52.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.71	+0.041%	$17.9M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.32	−0.081%	$36.0M	$58.0M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.74	+0.050%	$88K	$1.2M	5x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	320.01	+0.135%	$1K	$2.0M	20x
HTX TAO-USDT	+0.0100%	4h	319.91	+0.103%	$117K	$602K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX TAO/USD [WBTC.b-USDC]	L +0.0103% / S +0.0137%	1h	319.93	+0.111%	$412K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	319.55	−0.009%	$838	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	320.59	+0.317%	$176K	$998	3x	as long as short
ApeX Omni TAOUSDTlong	+0.0139%	1h	319.58	long leg	$46K	$259K	50x
Orderly PERP_TAO_USDC	+0.0176%	4h	320.34	+0.238%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0184%	4h	317.44	−0.670%	$42K	$321K	10x	as long as short
MEXC TAO_USDT	+0.0188%	4h	319.87	+0.091%	$104.6M	$152.8M	300x	as long as short
Binance TAOUSDT	+0.0193%	4h	319.91	+0.103%	$92.6M	$533.8M	75x	as long as short
Paradex TAO-USD-PERP	+0.0265%	8h	319.56	−0.006%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0272%	4h	319.84	+0.081%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0274%	4h	319.96	+0.119%	$70.4M	$157.2M	50x	as long as short
Bullet TAO-USD	+0.0300%	1h	320.36	+0.243%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	319.56	−0.005%	$375K	$466K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0322%	4h	319.53	−0.016%	$544K	$907K	10x	as long as short
Phemex TAOUSDT	+0.0352%	4h	320.22	+0.200%	$3.2M	$8.2M	50x	as long as short
Aster TAOUSDT	+0.0356%	4h	319.95	+0.117%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	319.73	+0.048%	$911K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0429%	4h	319.96	+0.119%	$4.7M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0458%	1h	320.42	+0.264%	$788K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	320.01	+0.135%	$101K	$384K	5x	as long as short
Variational Omni TAO	+0.0568%	4h	319.84	+0.081%	$5.6M	$10.1M	—	as long as short
Phoenix TAO	+0.0629%	1h	319.90	+0.100%	$321K	$703K	5x	as long as short
Lighter TAO	+0.0632%	1h	320.66	+0.337%	$1.6M	$6.9M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0679%	1h	320.46	+0.276%	$15K	$1.9M	25x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	320.34	+0.238%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0698%	1h	320.27	+0.216%	$299K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	320.59	+0.314%	$369	—	20x	as long as short
Hyperliquid TAO	+0.0707%	1h	319.75	+0.053%	$94.7M	$110.0M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0827%	1h	320.54	+0.301%	$6.0M	$21.7M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	319.81	+0.071%	$454K	$662K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	320.39	+0.253%	$1.3M	$7.2M	50x	as long as short
Bulk TAO-USD	+0.1572%	1h	317.17	−0.754%	$169K	$0	10x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	318.80	−0.244%	$23K	$2K	12x	as long as short