Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0231%/8h= −25.3% APRpaid last 24h −0.002%

Price spread now: OKX against Bullet+0.022%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. OKX is 0.022% dearer against Bullet than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	314.33	0.0331	pay 0.0041% / 1h	44m 22s	$12K	$17K	20x
Short	OKX TAO-USDT-SWAP	314.40	0.0100	get 0.0100% / 8h	2h 44m	$26.2M	$122.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$48.54
Price spread: +0.022% → 0.000%: $2.23
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$64.32
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; OKX: 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 OKX live order book, 5 min ago	1.60 bp	8.5 bp −$8	14.8 bp −$148	67.1 bp −$6,711	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
dYdX TAO-USD	0.0000%	1h	313.73	−0.191%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	313.95	−0.121%	$22K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	314.14	−0.060%	$1K	$890K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.41	+0.024%	$89.9M	$505.4M	75x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	314.40	+0.022%	$26.2M	$122.5M	50x
Gate TAO_USDT	+0.0100%	4h	314.00	−0.105%	$13.7M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.19	−0.045%	$105.9M	$144.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.94	−0.124%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.11	−0.070%	$35.4M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.67	−0.209%	$41K	$315K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	314.05	−0.089%	$81K	$910K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.02	−0.099%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.30	−0.328%	$111K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.49	+0.050%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	314.29	−0.013%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0132% / S +0.0137%	1h	313.96	−0.119%	$420K	—	100x	as long as short
Bulk TAO-USD	+0.0138%	1h	312.42	−0.607%	$166K	$333	10x	as long as short
Aster TAOUSDT	+0.0166%	4h	314.34	+0.003%	$1.3M	$10.5M	50x	as long as short
Pacifica TAO	+0.0233%	1h	314.39	+0.018%	$358K	$419K	10x	as long as short
Paradex TAO-USD-PERP	+0.0241%	8h	314.18	−0.047%	$14K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0251%	4h	313.86	−0.150%	$3.2M	$7.9M	50x	as long as short
Nado TAO-PERP	+0.0260%	1h	314.07	−0.082%	$781K	$2.2M	10x	as long as short
Popdex TAOUSDT	+0.0264%	1h	314.20	−0.041%	$49K	$662K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0286%	4h	313.59	−0.235%	$533K	$942K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0303%	1h	314.45	+0.038%	$5.7M	$21.2M	50x	as long as short
ApeX Omni TAOUSDT	+0.0317%	1h	313.78	−0.175%	$44K	$256K	50x	as long as short
Bullet TAO-USDlong	+0.0331%	1h	314.33	long leg	$12K	$17K	20x
BloFin TAO-USDT	+0.0340%	4h	314.18	−0.048%	$4.5M	$10.9M	100x	as long as short
BingX TAO-USDT	+0.0384%	4h	314.27	−0.019%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0390%	4h	313.71	−0.197%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0416%	1h	314.32	−0.004%	$903K	$2.4M	25x	as long as short
Bybit TAOUSDT	+0.0423%	4h	314.42	+0.029%	$68.2M	$151.4M	50x	as long as short
Arcus TAO-USD	+0.0483%	1h	314.36	+0.010%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.00	−0.105%	$312K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0529%	1h	314.34	+0.003%	$11K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.22	−0.035%	$361	—	20x	as long as short
Hyperliquid TAO	+0.0751%	1h	314.41	+0.025%	$92.0M	$108.6M	5x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	314.46	+0.041%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0810%	1h	314.28	−0.016%	$310K	$886K	10x	as long as short
Lighter TAO	+0.0880%	1h	314.53	+0.065%	$1.5M	$6.5M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	315.00	+0.213%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	314.08	−0.078%	$453K	$651K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	316.07	+0.554%	$23K	$2K	12x	as long as short