Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.314%

Price spread now: KuCoin against Bulk−1.047%7-day average +0.107% · 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−$161as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on Bulk Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.368%+$37 on $10k

Price spread, last 4 days (all we have)+1.301%+$130 · spread now −1.047%, 7d avg +0.107%

Together, before fees+1.668%+$167 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 1.154% cheaper against Bulk than usual: you would sell low and buy high, −$115 on $10k if it goes back to its 7-day average of +0.107%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	315.10	0.0100	pay 0.0013% / 1h	44m 07s	$167K	$2K	10x
Short	KuCoin TAOUSDTM	311.80	0.0100	get 0.0050% / 4h	3h 44m	$17.8M	$31.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bulk. 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 BulkbpFee KuCoinbpOrdersPrice spread, now −1.047%Rate

Funding earned: $0
Price spread: −1.047% → +0.107%: −$115.42
Slippage, 4 orders: −$26.57
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$160.99
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from Bulk: live order book, 10 min ago; KuCoin: live order book, 5 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 Bulk live order book, 10 min ago	2.39 bp	6.1 bp −$6	14.0 bp −$140	32.8 bp −$3,278	doesn't fit
Sell KuCoin live order book, 5 min ago	1.44 bp	17.8 bp −$18	28.3 bp −$283	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
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.84	−1.036%	$5.5M	$20.7M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	311.42	−1.168%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.72	−1.072%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.85	−1.031%	$45K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.87	−1.025%	$2K	$813K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.49	−1.146%	$355K	$413K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.71	−1.076%	$89.5M	$498.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.75	−1.063%	$67.0M	$150.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.60	−1.111%	$25.9M	$120.2M	50x	as long as short
Bulk TAO-USDlong	+0.0100%	1h	315.10	long leg	$167K	$2K	10x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	311.60	−1.111%	$13.0M	$49.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.90	−1.016%	$101.1M	$144.2M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	311.80	−1.047%	$17.8M	$31.3M	75x
Bitget TAOUSDT	+0.0100%	4h	311.60	−1.111%	$34.9M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.89	−1.019%	—	$33.1M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.19	−0.922%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.93	−1.007%	$529K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.96	−0.997%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.74	−1.066%	$82K	$870K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.03	−0.974%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.88	−1.022%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.42	−1.168%	$109K	$537K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.89	−1.019%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0114%	4h	311.78	−1.054%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0118%	4h	311.89	−1.020%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0141% / S +0.0131%	1h	311.71	−1.076%	$415K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0142%	8h	311.40	−1.174%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0184%	1h	311.83	−1.039%	$913K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.78	−1.054%	$101K	$392K	5x	as long as short
Hyperliquid TAO	+0.0235%	1h	312.08	−0.958%	$91.6M	$107.2M	5x	as long as short
Nado TAO-PERP	+0.0263%	1h	311.92	−1.008%	$790K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0324%	4h	312.10	−0.952%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.24	−0.908%	$4.5M	$10.8M	100x	as long as short
Phemex TAOUSDT	+0.0366%	4h	311.93	−1.006%	$3.2M	$8.1M	50x	as long as short
Lighter TAO	+0.0408%	1h	312.12	−0.944%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0409%	1h	312.04	−0.971%	$310K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	311.85	−1.031%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0457%	1h	312.50	−0.825%	$311K	$711K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0530%	1h	311.92	−1.009%	$29K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.94	−1.004%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.65	−1.096%	$433K	$650K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.52	−0.819%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+0.724%	$23K	$2K	12x	as long as short