Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.074%

Price spread now: Extended against BingX−0.044%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 7 days+0.034%+$3 · spread now −0.044%, 7d avg −0.031%

Together, before fees+0.130%+ Points / potential airdropExtended: Active · farm board+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	317.58	0.0256	pay 0.0128% / 4h	59m 15s	—	$36.7M	—
Short	Extended TAO-USD	317.44	0.0336	get 0.0042% / 1h	59m 15s	$904K	$2.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.044%Rate

Funding earned: $16.8
Price spread: −0.044% → −0.031%: −$1.35
Slippage, 4 orders: −$8.21
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$7.76
Costs to cover: 0.232%
Break-even: 10.2 days

Slippage from BingX: live order book, 10 min ago; Extended: live order book, 4 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, 10 min ago	0.79 bp	6.3 bp −$6	10.9 bp −$109	26.1 bp −$2,609	77.3 bp −$38.7K
Sell Extended live order book, 4 min ago	2.20 bp	6.4 bp −$6	8.7 bp −$87	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
dYdX TAO-USD	0.0000%	1h	317.27	−0.099%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.32	−0.083%	$22K	—	150x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.30	−0.088%	$26.6M	$129.6M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	317.85	+0.085%	$169K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.30	−0.088%	$14.3M	$50.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.40	−0.057%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.28	−0.094%	$35.7M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.02	−0.176%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.48	−0.031%	$84K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.34	−0.076%	$1K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	317.29	−0.091%	$116K	$602K	20x	as long as short
Katana Perps TAO-USD	+0.0108%	8h	317.42	−0.050%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0112% / S +0.0155%	1h	317.36	−0.070%	$424K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	317.61	+0.008%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0134%	4h	317.59	+0.003%	$53K	$293K	10x	as long as short
MEXC TAO_USDT	+0.0168%	4h	317.64	+0.019%	$107.4M	$150.3M	300x	as long as short
Binance TAOUSDT	+0.0171%	4h	317.52	−0.019%	$92.1M	$528.9M	75x	as long as short
Bullet TAO-USD	+0.0178%	1h	317.69	+0.035%	$12K	$17K	20x	as long as short
edgeX TAOUSDC	+0.0178%	4h	317.16	−0.131%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0230%	8h	317.57	−0.004%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0248%	4h	317.59	+0.003%	$69.6M	$156.1M	50x	as long as short
BingX TAO-USDTlong	+0.0256%	4h	317.58	long leg	—	$36.7M	—
GRVT TAO_USDT_Perp	+0.0328%	4h	317.36	−0.071%	$541K	$926K	10x	as long as short
Aster TAOUSDT	+0.0331%	4h	317.46	−0.037%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USDshort	+0.0336%	1h	317.44	−0.044%	$904K	$2.4M	25x
Hyperliquid TAO	+0.0359%	1h	317.82	+0.076%	$94.0M	$110.1M	5x	as long as short
BloFin TAO-USDT	+0.0411%	4h	317.50	−0.025%	$4.7M	$10.9M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0468%	1h	317.54	−0.012%	$15K	$2.0M	25x	as long as short
Popdex TAOUSDT	+0.0480%	1h	317.63	+0.016%	$43K	$706K	20x	as long as short
Variational Omni TAO	+0.0502%	4h	317.43	−0.047%	$5.6M	$10.2M	—	as long as short
Pacifica TAO	+0.0525%	1h	317.59	+0.002%	$361K	$427K	10x	as long as short
Nado TAO-PERP	+0.0545%	1h	317.83	+0.078%	$788K	$2.0M	10x	as long as short
Lighter TAO	+0.0560%	1h	317.71	+0.040%	$1.6M	$6.8M	5x	as long as short
Phoenix TAO	+0.0567%	1h	317.40	−0.057%	$316K	$701K	5x	as long as short
Phemex TAOUSDT	+0.0632%	4h	317.70	+0.038%	$3.2M	$8.2M	50x	as long as short
Arcus TAO-USD	+0.0641%	1h	317.95	+0.117%	$102K	$389K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0666%	1h	317.66	+0.025%	$296K	$905K	10x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	317.94	+0.113%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.49	−0.030%	$365	—	20x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.64	+0.020%	$438K	$677K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0834%	1h	317.59	+0.002%	$5.9M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.45	+0.274%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	323.52	+1.870%	$24K	$2K	12x	as long as short