Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0154%/8h= −16.9% APRpaid last 24h −0.007%

Price spread now: KuCoin against Bullet−0.079%46s7-day average — · you buy dearer than you sell

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

Long on Bullet Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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 −$5 a day on $10k at the current rate, and KuCoin is 0.079% cheaper against Bullet than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	317.44	0.0254	pay 0.0032% / 1h	33m 33s	$12K	$17K	20x
Short	KuCoin TAOUSDTM	317.19	0.0100	get 0.0050% / 4h	33m 33s	$17.7M	$32.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bullet. 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 BulletbpFee KuCoinbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$32.41
Price spread: −0.079% → 0.000%: −$7.88
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$60.29
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; KuCoin: live order book, 5 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 Bullet no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	1.73 bp	16.3 bp −$16	28.5 bp −$285	doesn't fit	doesn't fit

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.06	−0.118%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0034%	1h	316.93	−0.161%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.03	−0.129%	$44K	$713K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.50	−0.296%	$26.4M	$130.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.00	−0.139%	$14.5M	$51.4M	50x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	317.19	−0.079%	$17.7M	$32.4M	75x
Bitget TAOUSDT	+0.0100%	4h	316.28	−0.365%	$35.6M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.56	−0.277%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.85	−0.186%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.94	−0.158%	$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	316.75	−0.217%	$115K	$604K	20x	as long as short
Katana Perps TAO-USD	+0.0107%	8h	317.11	−0.104%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0107% / S +0.0136%	1h	316.78	−0.207%	$404K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	317.29	−0.047%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0150%	4h	317.14	−0.095%	$52K	$294K	10x	as long as short
Binance TAOUSDT	+0.0164%	4h	317.01	−0.135%	$91.8M	$530.9M	75x	as long as short
MEXC TAO_USDT	+0.0166%	4h	317.24	−0.063%	$100.3M	$151.5M	300x	as long as short
edgeX TAOUSDC	+0.0179%	4h	316.75	−0.218%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	317.21	−0.073%	$14K	$1K	10x	as long as short
Bullet TAO-USDlong	+0.0254%	1h	317.44	long leg	$12K	$17K	20x
Bybit TAOUSDT	+0.0256%	4h	317.03	−0.129%	$69.4M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0280%	4h	317.03	−0.129%	—	$37.0M	—	as long as short
GRVT TAO_USDT_Perp	+0.0306%	4h	316.89	−0.174%	$540K	$910K	10x	as long as short
Pacifica TAO	+0.0313%	1h	317.43	−0.003%	$372K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.564%	$170K	$0	10x	as long as short
Extended TAO-USD	+0.0320%	1h	317.03	−0.129%	$903K	$2.4M	25x	as long as short
Aster TAOUSDT	+0.0324%	4h	317.04	−0.126%	$1.3M	$11.0M	50x	as long as short
BloFin TAO-USDT	+0.0407%	4h	316.79	−0.205%	$4.7M	$10.9M	100x	as long as short
Nado TAO-PERP	+0.0465%	1h	316.68	−0.241%	$787K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.19	−0.079%	$100K	$384K	5x	as long as short
Phemex TAOUSDT	+0.0489%	4h	316.94	−0.158%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0504%	1h	317.52	+0.026%	$1.6M	$6.9M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0516%	1h	317.24	−0.062%	$15K	$1.9M	25x	as long as short
Variational Omni TAO	+0.0534%	4h	316.88	−0.175%	$5.5M	$10.2M	—	as long as short
Phoenix TAO	+0.0629%	1h	317.20	−0.076%	$316K	$703K	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	317.47	+0.009%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0671%	1h	317.03	−0.129%	$292K	$906K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.54	−0.283%	$364	—	20x	as long as short
Hyperliquid TAO	+0.0739%	1h	317.42	−0.006%	$93.8M	$110.2M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.15	−0.090%	$444K	$674K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0835%	1h	317.29	−0.046%	$5.9M	$21.6M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.80	+0.113%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+1.733%	$23K	$2K	12x	as long as short