Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0717%/8h= −78.5% APRpaid last 24h +0.314%

Price spread now: MEXC against Bulk+0.430%7-day average +0.100% · 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+$16as in the Price arb table

costs, in and out, $10k−$170.173% of the position

Long on Bulk Short on MEXC

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)−0.202%−$20 · spread now +0.430%, 7d avg +0.100%

Together, before fees+0.165%+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.331% dearer against Bulk than usual: you sell high and buy low (spread +0.430% now, against its 7-day average of +0.100%): +$33 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 37 hours. Mind the row above: over the last 4 days funding on this pair paid +0.368%, 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	Bulk TAO-USD	310.92	0.0817	pay 0.0102% / 1h	18m 39s	$165K	$333	10x
Short	MEXC TAO_USDT	312.26	0.0100	get 0.0050% / 4h	3h 18m	$102.5M	$145.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.430%Rate

Funding earned: −$150.55
Price spread: +0.430% → +0.100%: $33.08
Slippage, 4 orders: −$10.26
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$134.72
Costs to cover: 0.173%
Break-even: from the start

Slippage from Bulk: live order book, 35 min ago; MEXC: 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, 35 min ago	2.39 bp	6.1 bp −$6	14.0 bp −$140	32.8 bp −$3,278	doesn't fit
Sell MEXC live order book, 5 min ago	0.97 bp	2.8 bp −$3	13.9 bp −$139	31.2 bp −$3,122	100.4 bp −$50.2K

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	−0.0347%	1h	312.56	+0.526%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.10	+0.379%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0012%	1h	312.14	+0.391%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.49	+0.504%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	311.95	+0.331%	$639	$842K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.39	+0.471%	$356K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.38	+0.470%	$89.5M	$501.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.30	+0.443%	$26.0M	$120.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.10	+0.379%	$13.3M	$50.3M	50x	as long as short
MEXC TAO_USDTshort	+0.0100%	4h	312.26	+0.430%	$102.5M	$145.3M	300x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	312.20	+0.411%	$17.8M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.91	+0.318%	$35.0M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.23	+0.421%	—	$33.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.63	+0.227%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.55	+0.201%	$529K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.69	+0.247%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.33	+0.453%	$79K	$901K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.31	+0.447%	$11K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.46	+0.495%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.74	+0.263%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.40	+0.475%	$3.1M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.45	+0.492%	$172K	$998	3x	as long as short
Aster TAOUSDT	+0.0107%	4h	312.34	+0.456%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	312.28	+0.437%	$52K	$290K	10x	as long as short
Bybit TAOUSDT	+0.0131%	4h	312.34	+0.456%	$67.3M	$150.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0137% / S +0.0135%	1h	312.03	+0.358%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0153%	8h	312.21	+0.414%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.50	+0.508%	$101K	$394K	5x	as long as short
Extended TAO-USD	+0.0304%	1h	312.14	+0.392%	$909K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0308%	4h	311.97	+0.337%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0336%	1h	312.54	+0.521%	$789K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.69	+0.569%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	312.30	+0.443%	$311K	$711K	5x	as long as short
Hyperliquid TAO	+0.0463%	1h	312.47	+0.498%	$91.8M	$107.8M	5x	as long as short
01 Exchange TAOUSD	+0.0480%	1h	312.67	+0.562%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0498%	1h	312.65	+0.556%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0600%	1h	312.60	+0.539%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0624%	1h	312.47	+0.499%	$14K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.42	+0.482%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.26	+0.431%	$443K	$647K	5x	as long as short
Bulk TAO-USDlong	+0.0817%	1h	310.92	long leg	$165K	$333	10x
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.08	+0.373%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	315.24	+1.389%	$23K	$2K	12x	as long as short