Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.033%

Price spread now: dYdX against BingX−0.181%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1141.135% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.181% cheaper against BingX than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.069%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	314.35	0.0100	pay 0.0050% / 4h	3h 31m	—	$29.9M	—
Short	dYdX TAO-USD	313.78	0	get 0.0000% / 1h	31m 37s	$132K	$95K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BingX. 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 BingXbpFee dYdXbpOrdersPrice spread, now −0.181%Rate

Funding earned: −$21
Price spread: −0.181% → 0.000%: −$18.13
Slippage, 4 orders: −$93.52
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$152.65
Costs to cover: 1.135%
Break-even: never at this rate

Slippage from BingX: live order book, 17 min ago; dYdX: live order book, 8 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 BingX live order book, 17 min ago	0.81 bp	7.4 bp −$7	13.3 bp −$133	27.0 bp −$2,700	82.1 bp −$41.0K
Sell dYdX live order book, 8 min ago	44.90 bp	50.0 bp −$50	68.5 bp −$685	329.4 bp −$32.9K	1682.0 bp −$841.0K

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	−1.0220%	1h	313.13	−0.387%	$209K	$54K	10x	as long as short
dYdX TAO-USDshort	0.0000%	1h	313.78	−0.181%	$132K	$95K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	313.02	−0.422%	$27K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.26	−0.029%	$37K	$507K	20x	as long as short
Pacifica TAO	+0.0100%	1h	314.14	−0.068%	$365K	$396K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.23	−0.039%	$89.0M	$381.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.38	+0.010%	$60.3M	$112.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.10	−0.080%	$25.8M	$89.2M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	314.49	+0.045%	$142K	$585K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.20	−0.048%	$12.5M	$47.3M	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	314.26	−0.029%	$106.4M	$115.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.02	−0.105%	$20.2M	$24.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.09	−0.083%	$35.3M	$42.1M	50x	as long as short
BingX TAO-USDTlong	+0.0100%	4h	314.35	long leg	—	$29.9M	—
Variational Omni TAO	+0.0100%	4h	313.60	−0.239%	$3.5M	$6.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.87	−0.153%	$41K	$275K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.87	+0.167%	$561K	$947K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.08	−0.086%	$48K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.15	−0.381%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.28	−0.340%	$60K	$277K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.55	−0.254%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.26	−0.029%	$125K	$354K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.12	−0.073%	$3.3M	$7.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.34	−0.321%	$90K	$636K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.74	−0.193%	$172K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0119%	1h	313.38	−0.310%	$17K	$1.3M	25x	as long as short
Katana Perps TAO-USD	+0.0120%	8h	314.33	−0.006%	$898	$378K	5x	as long as short
Paradex TAO-USD-PERP	+0.0195%	8h	314.32	−0.010%	$15K	$992	10x	as long as short
Aster TAOUSDT	+0.0213%	4h	313.90	−0.144%	$1.7M	$7.1M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.14	−0.067%	$4.3M	$9.4M	100x	as long as short
Phoenix TAO	+0.0365%	1h	313.20	−0.366%	$332K	$326K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0392%	1h	314.14	−0.068%	$6.3M	$17.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0490% / S −0.0188%	1h	312.93	−0.453%	$463K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0576%	1h	314.81	+0.146%	$403K	$555K	10x	as long as short
Extended TAO-USD	+0.0584%	1h	314.41	+0.019%	$937K	$1.8M	25x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	314.82	+0.150%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0683%	1h	314.36	+0.002%	$1.1M	$1.5M	10x	as long as short
RISEx TAO/USDC	+0.0688%	1h	314.52	+0.056%	$412K	$526K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	313.15	−0.382%	$360	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0936%	1h	313.71	−0.204%	$1.5M	$5.4M	50x	as long as short
Lighter TAO	+0.2016%	1h	314.74	+0.123%	$2.0M	$3.6M	5x	as long as short
Hyperliquid TAO	+0.2505%	1h	314.94	+0.188%	$95.8M	$66.9M	5x	as long as short
Injective TAO/USDC PERP	+0.3384%	1h	316.14	+0.569%	$23K	$137	12x	as long as short