Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.3354%/8h= +367.2% APRpaid last 24h +0.769%

Price spread now: Injective against Binance+1.006%67s7-day average — · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.611%+$361 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$101 a day on $10k at the current rate, and Injective is 1.006% dearer against Binance than usual: you sell high and buy low: +$101 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 67 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	Binance TAOUSDT	316.18	0.0158	pay 0.0079% / 4h	3h 42m	$92.3M	$530.3M	75x
Short	Injective TAO/USDC PERP	319.36	0.3512	get 0.0439% / 1h	42m 08s	$23K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +1.006%Rate

Funding earned: $704.31
Price spread: +1.006% → 0.000%: $100.58
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $794.86
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 2 min ago; Injective: no order-book sample. 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 Binance live order book, 2 min ago	0.16 bp	8.4 bp −$8	14.9 bp −$149	38.5 bp −$3,845	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	315.88	−0.096%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.22	+0.013%	$50K	$714K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	315.91	−0.085%	$646	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	−0.025%	$26.3M	$130.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.90	−0.089%	$14.8M	$49.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.14	−0.013%	$17.7M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.88	−0.095%	$35.6M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.05	−0.041%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.06	−0.038%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.86	−0.101%	$116K	$589K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	316.19	+0.003%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.36	+0.058%	$174K	$998	3x	as long as short
dYdX TAO-USD	+0.0123%	1h	315.84	−0.108%	$127K	$86K	5x	as long as short
Binance TAOUSDTlong	+0.0158%	4h	316.18	long leg	$92.3M	$530.3M	75x
MEXC TAO_USDT	+0.0162%	4h	316.14	−0.013%	$104.3M	$151.6M	300x	as long as short
edgeX TAOUSDC	+0.0165%	4h	316.46	+0.088%	$42K	$322K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0209%	4h	316.16	−0.006%	$54K	$299K	10x	as long as short
Bullet TAO-USD	+0.0211%	1h	316.28	+0.033%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0232%	4h	316.11	−0.022%	$69.6M	$155.8M	50x	as long as short
Bulk TAO-USD	+0.0233%	1h	316.19	+0.003%	$168K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0241%	8h	316.28	+0.033%	$14K	$876	10x	as long as short
ApeX Omni TAOUSDT	+0.0254%	1h	316.32	+0.044%	$45K	$257K	50x	as long as short
GRVT TAO_USDT_Perp	+0.0286%	4h	316.28	+0.032%	$541K	$877K	10x	as long as short
Aster TAOUSDT	+0.0320%	4h	316.17	−0.003%	$1.2M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	316.20	+0.006%	$371K	$442K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0361% / S −0.0107%	1h	315.92	−0.083%	$371K	—	100x	as long as short
Extended TAO-USD	+0.0368%	1h	316.19	+0.004%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0402%	4h	316.30	+0.038%	$4.8M	$10.8M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	316.48	+0.095%	$100K	$371K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0416%	1h	316.14	−0.014%	$15K	$1.9M	25x	as long as short
BingX TAO-USDT	+0.0424%	4h	316.09	−0.028%	—	$37.4M	—	as long as short
Hyperliquid TAO	+0.0479%	1h	316.34	+0.051%	$93.2M	$110.2M	5x	as long as short
Nado TAO-PERP	+0.0537%	1h	316.29	+0.036%	$768K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	316.80	+0.196%	$319K	$714K	5x	as long as short
Lighter TAO	+0.0592%	1h	316.37	+0.060%	$1.6M	$6.6M	5x	as long as short
Variational Omni TAO	+0.0622%	4h	316.65	+0.150%	$5.6M	$10.1M	—	as long as short
01 Exchange TAOUSD	+0.0624%	1h	316.49	+0.098%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.23	+0.015%	$364	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0728%	1h	316.14	−0.013%	$316K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0787%	1h	316.28	+0.032%	$6.0M	$21.3M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	316.15	−0.010%	$437K	$682K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	316.48	+0.095%	$1.2M	$7.2M	50x	as long as short
Injective TAO/USDC PERPshort	+0.3512%	1h	319.36	+1.006%	$23K	$2K	12x