Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0924%/8h= −101.2% APRpaid last 24h −0.230%

Price spread now: SunX against Coinbase International+0.120%7-day average −0.188% · you sell dearer than you buy

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

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.511%−$51 on $10k

Price spread, last 3 days (all we have)−0.243%−$24 · spread now +0.120%, 7d avg −0.188%

Together, before fees−0.754%−$75 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.308% dearer against Coinbase International than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of −0.188%): +$31 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 27 hours. At the pace of the last 7 days (−0.511% in total) that is about 4.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.511% in total (about -26.7% 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	Coinbase International TAO-PERP-INTX	308.25	0.1024	pay 0.0128% / 1h	39m 19s	$1.4M	$6.3M	50x
Short	SunX TAO-USDT	308.62	0.0100	get 0.0050% / 4h	2h 39m	$1K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee SunXbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$194.04
Price spread: +0.120% → −0.188%: $30.76
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$181.28
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Coinbase International: live order book, 5 min ago; SunX: live order book, 7 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 Coinbase International live order book, 5 min ago	8.38 bp	14.9 bp −$15	19.9 bp −$199	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	500.06 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
dYdX TAO-USD	0.0000%	1h	307.69	−0.180%	$123K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	308.02	−0.074%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.68	−0.185%	$36K	$616K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.29	+0.011%	$88.5M	$460.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.40	+0.049%	$25.2M	$108.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	307.90	−0.114%	$12.5M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.15	−0.032%	$103.7M	$137.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.77	−0.156%	$17.9M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.55	+0.097%	$34.4M	$53.0M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.15	+0.291%	$34K	$298K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	308.37	+0.038%	$508K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.11	+0.279%	$46K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.35	+0.032%	$56K	$283K	10x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	308.62	+0.120%	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	307.33	−0.298%	$126K	$471K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.20	−0.018%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0115%	8h	307.58	−0.217%	$689	$680K	5x	as long as short
Aster TAOUSDT	+0.0165%	4h	307.86	−0.128%	$1.2M	$9.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0102%	1h	307.98	−0.089%	$414K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0171%	1h	308.64	+0.128%	$5.5M	$20.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0203%	1h	308.22	−0.010%	$77K	$644K	5x	as long as short
Bullet TAO-USD	+0.0218%	1h	308.25	+0.001%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0274%	8h	308.01	−0.079%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	308.07	−0.058%	$364K	$381K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	308.10	−0.049%	$81K	$547K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+0.944%	$4.4M	$10.7M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0461%	1h	308.69	+0.143%	$15K	$1.5M	25x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+2.394%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0586%	1h	308.32	+0.024%	$750K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	308.80	+0.178%	$323K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	307.91	−0.110%	$3K	$4K	5x	as long as short
Phemex TAOUSDT	+0.0639%	4h	307.50	−0.243%	$3.3M	$8.0M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	308.33	+0.026%	$355	—	20x	as long as short
Variational Omni TAO	+0.0734%	4h	308.15	−0.033%	$5.3M	$8.9M	—	as long as short
BingX TAO-USDT	+0.0736%	4h	308.33	+0.026%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0741%	4h	308.49	+0.078%	$63.0M	$135.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0841%	1h	307.80	−0.146%	$311K	$814K	10x	as long as short
Extended TAO-USD	+0.0944%	1h	308.38	+0.042%	$885K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.1024%	1h	308.25	long leg	$1.4M	$6.3M	50x
RISEx TAO/USDC	+0.1132%	1h	307.88	−0.118%	$410K	$606K	5x	as long as short
Hyperliquid TAO	+0.1235%	1h	308.57	+0.104%	$97.3M	$93.3M	5x	as long as short
Lighter TAO	+0.1360%	1h	308.17	−0.025%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+1.346%	$166K	$40K	10x	as long as short