Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.015%

Price spread now: MEXC against dYdX−0.213%47s7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$910.912% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.152%−$15 on $10k

Price spread, last 4 days (all we have)+0.303%+$30 · spread now −0.213%, 7d avg +0.041%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.254% cheaper against dYdX than usual: you would sell low and buy high (spread −0.213% now, against its 7-day average of +0.041%). If the spread goes back, that is −$25 on $10k: about 8.5 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.152%, so the current rate has only just turned in your favour. The two prices were read 47 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	dYdX TAO-USD	317.69	0	get 0.0000% / 1h	13m 55s	$127K	$84K	5x
Short	MEXC TAO_USDT	317.01	0.0100	get 0.0050% / 4h	2h 13m	$112.7M	$139.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.213%Rate

Funding earned: $21
Price spread: −0.213% → +0.041%: −$25.41
Slippage, 4 orders: −$81.23
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$95.64
Costs to cover: 0.912%
Break-even: 38.9 days

Slippage from dYdX: live order book, 55 min ago; MEXC: 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, 55 min ago	36.33 bp	41.3 bp −$41	54.8 bp −$548	143.4 bp −$14.3K	582.5 bp −$291.3K
Sell MEXC live order book, 5 min ago	0.79 bp	2.3 bp −$2	6.7 bp −$67	28.1 bp −$2,807	116.8 bp −$58.4K

TAO on 42 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-USDlong	0.0000%	1h	317.69	long leg	$127K	$84K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.13	−0.176%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.80	+0.036%	$43K	$637K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.90	−0.247%	$91.3M	$469.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.00	−0.216%	$26.2M	$114.2M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.28	−0.757%	$167K	$40K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.70	−0.311%	$12.9M	$50.6M	50x	as long as short
MEXC TAO_USDTshort	+0.0100%	4h	317.01	−0.213%	$112.7M	$139.8M	300x
KuCoin TAOUSDTM	+0.0100%	4h	316.82	−0.273%	$18.0M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.56	−0.355%	$35.4M	$54.0M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	314.93	−0.868%	$35K	$300K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.80	−0.909%	$47K	$253K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.52	−0.052%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.15	−0.169%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.39	−0.093%	$130K	$474K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.07	−0.194%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.64	−0.016%	$174K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0119%	1h	317.56	−0.040%	$79K	$683K	5x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	317.88	+0.061%	$675	$715K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0166%	1h	317.25	−0.138%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0099%	1h	317.15	−0.168%	$434K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0176%	4h	315.62	−0.650%	$520K	$954K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0250%	1h	317.18	−0.160%	$22K	$1.5M	25x	as long as short
Bullet TAO-USD	+0.0259%	1h	317.57	−0.037%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0279%	4h	316.96	−0.229%	$1.2M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	317.86	+0.055%	$373K	$384K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	317.96	+0.086%	$100K	$529K	5x	as long as short
Paradex TAO-USD-PERP	+0.0379%	8h	317.48	−0.066%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	318.67	+0.310%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0513%	1h	317.66	−0.007%	$793K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	316.00	−0.531%	$330K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	318.28	+0.187%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.66	−0.008%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0800%	4h	316.87	−0.257%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0853%	4h	317.05	−0.200%	$67.3M	$138.7M	50x	as long as short
Variational Omni TAO	+0.0864%	4h	317.32	−0.117%	$5.5M	$8.9M	—	as long as short
Extended TAO-USD	+0.0944%	1h	316.75	−0.295%	$908K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0953%	1h	317.30	−0.122%	$321K	$810K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	318.98	+0.407%	$1.5M	$6.6M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	317.62	−0.021%	$454K	$631K	5x	as long as short
Hyperliquid TAO	+0.1366%	1h	317.62	−0.021%	$100.9M	$95.3M	5x	as long as short
Lighter TAO	+0.1432%	1h	317.69	+0.001%	$1.7M	$6.1M	5x	as long as short