Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1328%/8h= +145.4% APRpaid last 24h +0.305%

Price spread now: SunX against Bulk−0.405%7-day average +0.114% · you buy dearer than you sell

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

Long on Bulk Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.337%+$34 on $10k

Price spread, last 3 days (all we have)+0.678%+$68 · spread now −0.405%, 7d avg +0.114%

Together, before fees+1.015%+$101 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.519% cheaper against Bulk than usual: you would sell low and buy high (spread −0.405% now, against its 7-day average of +0.114%). If the spread goes back, that is −$52 on $10k: about 31 hours of funding at the current rate (+$40 a day). At the pace of the last 3 days (+0.337% in total) that is about 5.3 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.337% in total (about 35.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	316.14	−0.1228	get 0.0154% / 1h	2m 48s	$168K	$40K	10x
Short	SunX TAO-USDT	314.86	0.0100	get 0.0050% / 4h	3h 02m	$2K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.405%Rate

Funding earned: $278.89
Price spread: −0.405% → +0.114%: −$51.87
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: $212.01
Costs to cover: 0.150%
Break-even: 1.7 days

Slippage unknown: Bulk: live order book, 6 min ago; SunX: live order book, 13 min ago. 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 Bulk live order book, 6 min ago	0.16 bp	4.3 bp −$4	5.0 bp −$50	21.1 bp −$2,113	47.3 bp −$23.6K
Sell SunX live order book, 13 min ago	500.19 bp	doesn't fit	doesn't fit	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
Bulk TAO-USDlong	−0.1228%	1h	316.14	long leg	$168K	$40K	10x
dYdX TAO-USD	0.0000%	1h	314.55	−0.503%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	314.56	−0.500%	$14K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.85	−0.408%	$43K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.33	−0.256%	$90.4M	$452.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.40	−0.234%	$25.7M	$108.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.40	−0.234%	$12.8M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.85	−0.092%	$100.2M	$137.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.70	−0.139%	$18.3M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.72	−0.449%	$35.0M	$51.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.06	+0.289%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.35	+0.067%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.92	−0.386%	$57K	$316K	10x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	314.86	−0.405%	$2K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	315.14	−0.316%	$126K	$422K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.22	−0.291%	$173K	$998	3x	as long as short
Bullet TAO-USD	+0.0106%	1h	314.59	−0.490%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0117%	1h	316.47	+0.104%	$48K	$267K	50x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	314.82	−0.418%	$1K	$647K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	314.37	−0.559%	$446K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	314.69	−0.459%	$373K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	314.88	−0.399%	$83K	$550K	5x	as long as short
Aster TAOUSDT	+0.0204%	4h	314.81	−0.422%	$1.3M	$8.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	314.64	−0.473%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0255%	1h	314.68	−0.462%	$92K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.26	−0.595%	$4.4M	$10.7M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0370%	1h	314.85	−0.409%	$17K	$1.5M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0487%	1h	314.57	−0.498%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.00	+0.272%	$332K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	315.19	−0.301%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.46	+1.366%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	+0.201%	$5.5M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.46	−0.531%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	315.30	−0.266%	—	$30.7M	—	as long as short
Phemex TAOUSDT	+0.0706%	4h	314.49	−0.522%	$3.4M	$7.8M	50x	as long as short
Bybit TAOUSDT	+0.0752%	4h	315.52	−0.196%	$65.0M	$133.9M	50x	as long as short
Nado TAO-PERP	+0.0754%	1h	314.80	−0.424%	$779K	$2.1M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0796%	1h	315.21	−0.294%	$319K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	314.95	−0.376%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1088%	1h	315.86	−0.087%	$879K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	314.67	−0.464%	$418K	$593K	5x	as long as short
Lighter TAO	+0.1400%	1h	314.96	−0.373%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1734%	1h	315.50	−0.202%	$100.9M	$91.7M	5x	as long as short