Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h 0.000%

Price spread now: HTX against dYdX+0.226%7-day average −0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$211as in the Funding arb table

Net, price: spread back to 7d avg − costs−$168as in the Price arb table

costs, in and out, $10k−$1961.964% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)−0.295%−$29 · spread now +0.226%, 7d avg −0.062%

Together, before fees−0.442%−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 0.288% dearer against dYdX than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.062%. Mind the row above: over the last 7 days funding on this pair cost −0.147%, 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	316.04	0.0036	pay 0.0004% / 1h	33m 59s	$126K	$85K	5x
Short	HTX TAO-USDT	316.75	0.0100	get 0.0050% / 4h	33m 59s	$115K	$604K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.226%Rate

Funding earned: $13.49
Price spread: +0.226% → −0.062%: $28.79
Slippage, 4 orders: −$174.4
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$154.12
Costs to cover: 1.964%
Break-even: 87.0 days

Slippage from dYdX: live order book, 5 min ago; HTX: live order book, 5 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, 5 min ago	27.37 bp	32.4 bp −$32	39.3 bp −$393	129.2 bp −$12.9K	563.6 bp −$281.8K
Sell HTX live order book, 5 min ago	8.86 bp	37.3 bp −$37	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.06	+0.325%	$22K	—	150x	as long as short
dYdX TAO-USDlong	+0.0036%	1h	316.04	long leg	$126K	$85K	5x
Popdex TAOUSDT	+0.0096%	1h	317.13	+0.346%	$44K	$712K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.10	+0.336%	$26.4M	$130.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.70	+0.210%	$14.5M	$51.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.20	+0.368%	$17.7M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.63	+0.188%	$35.6M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.70	+0.210%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.06	+0.324%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.94	+0.286%	$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-USDTshort	+0.0100%	4h	316.75	+0.226%	$115K	$604K	20x
Katana Perps TAO-USD	+0.0107%	8h	316.90	+0.273%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0107% / S +0.0136%	1h	316.78	+0.236%	$404K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	317.29	+0.397%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0150%	4h	317.14	+0.349%	$52K	$294K	10x	as long as short
MEXC TAO_USDT	+0.0166%	4h	316.86	+0.260%	$100.1M	$151.5M	300x	as long as short
Binance TAOUSDT	+0.0167%	4h	317.01	+0.308%	$91.8M	$530.8M	75x	as long as short
edgeX TAOUSDC	+0.0179%	4h	316.75	+0.225%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	316.47	+0.137%	$14K	$1K	10x	as long as short
Bullet TAO-USD	+0.0254%	1h	317.44	+0.444%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0264%	4h	317.11	+0.340%	$69.4M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0280%	4h	316.89	+0.270%	—	$37.1M	—	as long as short
Pacifica TAO	+0.0313%	1h	316.39	+0.112%	$371K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+1.010%	$170K	$0	10x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	317.09	+0.334%	$541K	$918K	10x	as long as short
Extended TAO-USD	+0.0320%	1h	317.12	+0.341%	$903K	$2.4M	25x	as long as short
Aster TAOUSDT	+0.0323%	4h	316.89	+0.269%	$1.3M	$11.0M	50x	as long as short
BloFin TAO-USDT	+0.0407%	4h	316.79	+0.238%	$4.7M	$10.9M	100x	as long as short
Nado TAO-PERP	+0.0473%	1h	317.06	+0.325%	$788K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.04	+0.317%	$100K	$384K	5x	as long as short
Phemex TAOUSDT	+0.0489%	4h	316.94	+0.286%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0504%	1h	317.40	+0.430%	$1.6M	$6.9M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0516%	1h	317.24	+0.382%	$15K	$1.9M	25x	as long as short
Variational Omni TAO	+0.0534%	4h	316.88	+0.268%	$5.5M	$10.2M	—	as long as short
Phoenix TAO	+0.0629%	1h	317.20	+0.368%	$316K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0671%	1h	317.03	+0.314%	$292K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	317.35	+0.416%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.12	+0.344%	$365	—	20x	as long as short
Hyperliquid TAO	+0.0737%	1h	317.05	+0.321%	$93.7M	$110.2M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.00	+0.305%	$444K	$673K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0835%	1h	317.29	+0.398%	$5.9M	$21.6M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.80	+0.558%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+2.184%	$23K	$2K	12x	as long as short