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 −0.016%

Price spread now: OKX against dYdX+0.371%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$1081.079% of the position

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 4 days (all we have)−0.392%−$39 · spread now +0.371%, 7d avg +0.011%

Together, before fees−0.526%−$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.360% dearer against dYdX than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.011%. Mind the row above: over the last 7 days funding on this pair cost −0.134%, 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	310.95	0	get 0.0000% / 1h	58m 01s	$124K	$88K	5x
Short	OKX TAO-USDT-SWAP	312.10	0.0100	get 0.0100% / 8h	6h 58m	$25.3M	$108.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.371%Rate

Funding earned: $21
Price spread: +0.371% → +0.011%: $35.96
Slippage, 4 orders: −$87.92
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$50.95
Costs to cover: 1.079%
Break-even: 24.0 days

Slippage from dYdX: live order book, 11 min ago; OKX: live order book, 1 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, 11 min ago	36.33 bp	41.3 bp −$41	54.8 bp −$548	143.4 bp −$14.3K	582.5 bp −$291.3K
Sell OKX live order book, 1 min ago	1.61 bp	10.5 bp −$10	22.4 bp −$224	62.8 bp −$6,278	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	−0.1228%	1h	316.14	+1.670%	$168K	$40K	10x	as long as short
dYdX TAO-USDlong	0.0000%	1h	310.95	long leg	$124K	$88K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.02	+0.344%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.59	+0.528%	$44K	$610K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.98	+0.332%	$89.6M	$454.7M	75x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	312.10	+0.371%	$25.3M	$108.3M	50x
Gate TAO_USDT	+0.0100%	4h	311.70	+0.242%	$12.6M	$48.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.98	+0.332%	$99.7M	$134.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.19	+0.400%	$18.3M	$29.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.77	+0.265%	$34.7M	$52.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	315.16	+1.355%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.04	+0.674%	$522K	$962K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.60	+1.175%	$48K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.28	+0.429%	$57K	$318K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.04	+0.351%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.35	+0.451%	$119K	$446K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.04	+0.352%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	312.19	+0.400%	$639	$657K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0125%	1h	311.99	+0.336%	$16K	$1.5M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0169%	1h	311.96	+0.326%	$5.6M	$20.3M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0171% / S +0.0110%	1h	312.10	+0.372%	$435K	—	100x	as long as short
Aster TAOUSDT	+0.0173%	4h	312.02	+0.344%	$1.2M	$9.0M	50x	as long as short
Bullet TAO-USD	+0.0179%	1h	312.59	+0.528%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0233%	8h	311.67	+0.231%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0278%	1h	312.73	+0.573%	$91K	$619K	5x	as long as short
Pacifica TAO	+0.0285%	1h	311.74	+0.255%	$369K	$373K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	312.43	+0.477%	$83K	$550K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.04	+0.673%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	316.84	+1.895%	$23K	$2K	12x	as long as short
Phoenix TAO	+0.0525%	1h	313.80	+0.917%	$328K	$620K	5x	as long as short
01 Exchange TAOUSD	+0.0568%	1h	312.56	+0.519%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0606%	4h	314.06	+1.001%	$5.4M	$8.7M	—	as long as short
Nado TAO-PERP	+0.0658%	1h	312.68	+0.556%	$776K	$2.1M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	312.61	+0.536%	$359	—	20x	as long as short
BingX TAO-USDT	+0.0704%	4h	311.97	+0.329%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0740%	4h	312.21	+0.406%	$63.6M	$134.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0816%	1h	312.08	+0.364%	$315K	$818K	10x	as long as short
Phemex TAOUSDT	+0.0905%	4h	312.28	+0.429%	$3.4M	$7.8M	50x	as long as short
Hyperliquid TAO	+0.0969%	1h	312.38	+0.461%	$99.6M	$92.2M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	312.42	+0.474%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1048%	1h	311.87	+0.297%	$898K	$2.4M	25x	as long as short
RISEx TAO/USDC	+0.1132%	1h	312.27	+0.427%	$414K	$602K	5x	as long as short
Lighter TAO	+0.1328%	1h	312.44	+0.479%	$1.6M	$6.0M	5x	as long as short