Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h −0.030%

Price spread now: dYdX against Aster−0.091%49s7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$950.953% of the position

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.053%−$5 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now −0.091%, 7d avg −0.080%

Together, before fees−0.110%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.080%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 49 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	Aster TAOUSDT	313.02	0.0149	pay 0.0075% / 4h	2h 49m	$1.3M	$10.5M	50x
Short	dYdX TAO-USD	312.73	0	get 0.0000% / 1h	49m 54s	$125K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Aster. 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 AsterbpFee dYdXbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$31.29
Price spread: −0.091% → −0.080%: −$1.07
Slippage, 4 orders: −$77.26
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$127.62
Costs to cover: 0.953%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; dYdX: live order book, 64 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 Aster live order book, 4 min ago	1.92 bp	8.0 bp −$8	19.2 bp −$192	166.3 bp −$16.6K	doesn't fit
Sell dYdX live order book, 64 min ago	31.65 bp	36.7 bp −$37	43.0 bp −$430	149.9 bp −$15.0K	558.3 bp −$279.1K

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
dYdX TAO-USDshort	0.0000%	1h	312.73	−0.091%	$125K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.94	−0.023%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	313.26	+0.078%	$641	$879K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.28	+0.085%	$89.6M	$504.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.30	+0.091%	$26.2M	$121.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.00	−0.005%	$13.6M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.26	+0.078%	$104.5M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.10	+0.027%	$17.5M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.10	+0.027%	$35.3M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.14	−0.280%	$41K	$314K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	313.12	+0.033%	$81K	$908K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.92	−0.030%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.72	−0.094%	$111K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.30	+0.091%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	313.18	+0.053%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0132% / S +0.0137%	1h	312.88	−0.043%	$419K	—	100x	as long as short
Bulk TAO-USD	+0.0138%	1h	312.42	−0.189%	$166K	$333	10x	as long as short
Aster TAOUSDTlong	+0.0149%	4h	313.02	long leg	$1.3M	$10.5M	50x
Paradex TAO-USD-PERP	+0.0220%	8h	313.29	+0.089%	$14K	$1K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0232%	4h	312.47	−0.176%	$531K	$942K	10x	as long as short
Pacifica TAO	+0.0233%	1h	313.40	+0.122%	$357K	$419K	10x	as long as short
Popdex TAOUSDT	+0.0248%	1h	313.43	+0.132%	$49K	$662K	20x	as long as short
Nado TAO-PERP	+0.0259%	1h	313.35	+0.108%	$779K	$2.2M	10x	as long as short
ApeX Omni TAOUSDT	+0.0265%	1h	312.08	−0.299%	$46K	$255K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0305%	1h	312.92	−0.031%	$5.5M	$20.7M	50x	as long as short
Bullet TAO-USD	+0.0328%	1h	313.25	+0.076%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.00	−0.005%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0358%	4h	313.26	+0.078%	—	$33.7M	—	as long as short
Phemex TAOUSDT	+0.0359%	4h	313.09	+0.024%	$3.1M	$7.9M	50x	as long as short
Bybit TAOUSDT	+0.0370%	4h	313.40	+0.123%	$67.9M	$151.2M	50x	as long as short
Variational Omni TAO	+0.0371%	4h	313.10	+0.027%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0384%	1h	313.24	+0.071%	$902K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0483%	1h	313.56	+0.174%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	312.50	−0.165%	$311K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0529%	1h	313.17	+0.050%	$11K	$1.8M	25x	as long as short
Hyperliquid TAO	+0.0697%	1h	313.30	+0.091%	$91.7M	$108.3M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.33	+0.101%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	313.87	+0.273%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0827%	1h	313.24	+0.072%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0888%	1h	313.27	+0.082%	$1.5M	$6.5M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	313.67	+0.209%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	313.37	+0.112%	$450K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	316.07	+0.976%	$23K	$2K	12x	as long as short