Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h −0.035%

Price spread now: Popdex against Aster+0.130%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−$17as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on Aster Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.141%−$14 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now +0.130%, 7d avg −0.040%

Together, before fees+0.005%+ Points / potential airdropAster: Stage 5 · farm board+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.170% dearer against Aster than usual: you sell high and buy low (spread +0.130% now, against its 7-day average of −0.040%): +$17 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 4 days (−0.141% in total) that is about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	322.62	0.0372	pay 0.0186% / 4h	1h 28m	$1.1M	$9.6M	50x
Short	Popdex TAOUSDT	323.04	0.0096	get 0.0012% / 1h	28m 50s	$33K	$674K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.130%Rate

Funding earned: −$57.96
Price spread: +0.130% → −0.040%: $16.96
Slippage, 4 orders: −$19.84
Fee Aster: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$75.24
Costs to cover: 0.342%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Popdex: live order book, 35 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, 5 min ago	1.85 bp	8.4 bp −$8	25.2 bp −$252	doesn't fit	doesn't fit
Sell Popdex live order book, 35 min ago	2.04 bp	10.2 bp −$10	81.2 bp −$812	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	−0.5583%	1h	316.49	−1.900%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	322.80	+0.054%	$129K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	322.61	−0.004%	$21K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	323.04	+0.130%	$33K	$674K	20x
Binance TAOUSDT	+0.0100%	4h	323.60	+0.304%	$94.6M	$479.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.50	+0.273%	$26.6M	$119.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.30	+0.211%	$13.3M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	323.62	+0.310%	$99.8M	$141.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.25	−0.115%	$18.1M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.34	+0.223%	$36.2M	$54.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	324.24	+0.502%	$37K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.03	+0.127%	$87K	$790K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.93	+0.096%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	323.29	+0.207%	$131K	$482K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.20	+0.180%	$3.5M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	323.50	+0.271%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0112%	4h	323.12	+0.155%	$58K	$282K	10x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	323.05	+0.133%	$687	$776K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0161% / S +0.0125%	1h	322.57	−0.017%	$449K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0243%	1h	322.90	+0.088%	$5.7M	$20.6M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0264%	4h	323.95	+0.412%	$537K	$964K	10x	as long as short
Bullet TAO-USD	+0.0294%	1h	322.97	+0.108%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0311%	8h	323.27	+0.200%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	322.64	+0.006%	$4.6M	$11.2M	100x	as long as short
Aster TAOUSDTlong	+0.0372%	4h	322.62	long leg	$1.1M	$9.6M	50x
Pacifica TAO	+0.0448%	1h	322.95	+0.103%	$382K	$402K	10x	as long as short
Phoenix TAO	+0.0504%	1h	324.60	+0.614%	$339K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	323.47	+0.263%	$101K	$487K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0529%	1h	323.28	+0.204%	$21K	$1.6M	25x	as long as short
BingX TAO-USDT	+0.0566%	4h	323.77	+0.356%	—	$30.3M	—	as long as short
Nado TAO-PERP	+0.0579%	1h	323.15	+0.165%	$793K	$2.2M	10x	as long as short
Bybit TAOUSDT	+0.0588%	4h	323.71	+0.338%	$70.9M	$143.6M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	322.92	+0.094%	$371	—	20x	as long as short
ApeX Omni TAOUSDT	+0.0723%	1h	323.82	+0.372%	$48K	$253K	50x	as long as short
01 Exchange TAOUSD	+0.0784%	1h	323.32	+0.217%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0864%	1h	323.41	+0.243%	$944K	$2.3M	25x	as long as short
Variational Omni TAO	+0.0868%	4h	323.85	+0.381%	$6.0M	$9.8M	—	as long as short
Lighter TAO	+0.0904%	1h	323.19	+0.176%	$1.6M	$6.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	323.38	+0.235%	$1.5M	$6.7M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1060%	1h	322.97	+0.108%	$444K	$860K	10x	as long as short
RISEx TAO/USDC	+0.1159%	1h	323.01	+0.122%	$459K	$638K	5x	as long as short
Hyperliquid TAO	+0.1284%	1h	323.03	+0.127%	$101.5M	$99.0M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	323.37	+0.232%	$24K	$2K	12x	as long as short