Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0152%/8h= +16.7% APRpaid last 24h −0.002%

Price spread now: edgeX against dYdX+0.206%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1181.183% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now +0.206%, 7d avg +0.041%

Together, before fees−0.062%+ Points / potential airdropedgeX: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and edgeX is 0.165% dearer against dYdX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.041%. Mind the row above: over the last 7 days funding on this pair cost −0.137%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TAO-USD	319.38	0	get 0.0000% / 1h	41m 12s	$127K	$85K	5x
Short	edgeX TAOUSDC	320.03	0.0152	get 0.0076% / 4h	1h 41m	$42K	$318K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against dYdX. 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 dYdXbpFee edgeXbpOrdersPrice spread, now +0.206%Rate

Funding earned: $31.95
Price spread: +0.206% → +0.041%: $16.48
Slippage, 4 orders: −$99.26
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$69.83
Costs to cover: 1.183%
Break-even: 22.3 days

Slippage from dYdX: live order book, 3 min ago; edgeX: live order book, 2 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 dYdX live order book, 3 min ago	44.87 bp	49.9 bp −$50	74.8 bp −$748	137.8 bp −$13.8K	466.4 bp −$233.2K
Sell edgeX live order book, 2 min ago	4.70 bp	9.3 bp −$9	26.3 bp −$263	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-USD	−0.2019%	1h	319.65	+0.086%	$170K	$333	10x	as long as short
dYdX TAO-USDlong	0.0000%	1h	319.38	long leg	$127K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.36	−0.005%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.83	+0.142%	$41K	$696K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.60	+0.070%	$26.6M	$129.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.60	+0.070%	$14.2M	$51.6M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.64	+0.083%	$17.8M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.48	+0.033%	$35.8M	$58.3M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.81	+0.136%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.70	+0.101%	$79K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	319.47	+0.029%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.35	−0.008%	$118K	$589K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	319.62	+0.076%	$725	$1.0M	5x	as long as short
Phemex TAOUSDT	+0.0113%	4h	319.90	+0.164%	$3.3M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.78	+0.126%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0121% / S +0.0157%	1h	319.41	+0.011%	$432K	—	100x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	319.62	+0.076%	$53K	$292K	10x	as long as short
edgeX TAOUSDCshort	+0.0152%	4h	320.03	+0.206%	$42K	$318K	10x
Binance TAOUSDT	+0.0158%	4h	319.79	+0.130%	$92.5M	$527.2M	75x	as long as short
MEXC TAO_USDT	+0.0158%	4h	319.93	+0.173%	$105.1M	$149.6M	300x	as long as short
Paradex TAO-USD-PERP	+0.0263%	8h	319.78	+0.128%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0313%	4h	319.97	+0.186%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0382%	4h	319.68	+0.095%	$69.7M	$155.8M	50x	as long as short
Bullet TAO-USD	+0.0391%	1h	319.97	+0.187%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0398%	4h	319.77	+0.123%	$4.7M	$11.1M	100x	as long as short
BingX TAO-USDT	+0.0398%	4h	319.68	+0.095%	—	$34.4M	—	as long as short
GRVT TAO_USDT_Perp	+0.0408%	4h	319.70	+0.101%	$544K	$940K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	319.60	+0.071%	$917K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	319.86	+0.153%	$364K	$423K	10x	as long as short
Variational Omni TAO	+0.0538%	4h	319.36	−0.005%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	320.30	+0.289%	$319K	$709K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0605%	1h	319.60	+0.070%	$14K	$1.9M	25x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	319.94	+0.177%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.31	+0.292%	$103K	$394K	5x	as long as short
Nado TAO-PERP	+0.0651%	1h	319.79	+0.129%	$801K	$2.2M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0660%	1h	319.75	+0.117%	$300K	$904K	10x	as long as short
Hyperliquid TAO	+0.0671%	1h	320.07	+0.217%	$94.5M	$110.1M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.92	+0.169%	$368	—	20x	as long as short
Lighter TAO	+0.0864%	1h	319.96	+0.184%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	321.04	+0.521%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	319.76	+0.122%	$462K	$662K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1154%	1h	319.81	+0.135%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.63	+1.332%	$24K	$2K	12x	as long as short