Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h +0.009%

Price spread now: dYdX against edgeX−0.247%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$980.978% of the position

Long on edgeX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 4 days (all we have)−0.225%−$23 · spread now −0.247%, 7d avg −0.044%

Together, before fees−0.089%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.203% cheaper against edgeX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.044%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.136%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TAOUSDC	313.34	0.0100	pay 0.0050% / 4h	3h 15m	$42K	$314K	10x
Short	dYdX TAO-USD	312.57	0.0011	get 0.0001% / 1h	15m 41s	$125K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against edgeX. 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 edgeXbpFee dYdXbpOrdersPrice spread, now −0.247%Rate

Funding earned: −$18.71
Price spread: −0.247% → −0.044%: −$20.29
Slippage, 4 orders: −$78.81
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$136.8
Costs to cover: 0.978%
Break-even: never at this rate

Slippage from edgeX: live order book, 37 min ago; dYdX: live order book, 38 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 edgeX live order book, 37 min ago	4.77 bp	9.3 bp −$9	24.3 bp −$243	doesn't fit	doesn't fit
Sell dYdX live order book, 38 min ago	31.65 bp	36.7 bp −$37	43.0 bp −$430	149.9 bp −$15.0K	558.3 bp −$279.1K

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
Kraken Futures PF_TAOUSD	−0.0347%	1h	312.44	−0.289%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.33	−0.323%	$20K	—	150x	as long as short
dYdX TAO-USDshort	+0.0011%	1h	312.57	−0.247%	$125K	$85K	5x
Popdex TAOUSDT	+0.0096%	1h	313.01	−0.106%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	312.88	−0.148%	$640	$845K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.95	−0.125%	$356K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.01	−0.106%	$89.6M	$501.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	−0.078%	$26.1M	$121.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.70	−0.205%	$13.3M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.11	−0.074%	$103.3M	$145.6M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	312.79	−0.177%	$17.8M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.82	−0.167%	$35.1M	$56.5M	50x	as long as short
edgeX TAOUSDClong	+0.0100%	4h	313.34	long leg	$42K	$314K	10x
ApeX Omni TAOUSDT	+0.0100%	1h	312.33	−0.323%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.40	−0.301%	$82K	$905K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.63	−0.228%	$12K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.33	−0.323%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.20	−0.365%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.63	−0.228%	$3.1M	$8.0M	50x	as long as short
BingX TAO-USDT	+0.0104%	4h	313.03	−0.100%	—	$33.7M	—	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.71	−0.200%	$172K	$998	3x	as long as short
Aster TAOUSDT	+0.0114%	4h	312.92	−0.135%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	312.53	−0.260%	$52K	$290K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0124%	4h	312.88	−0.149%	$531K	$956K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0136% / S +0.0132%	1h	312.30	−0.334%	$422K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0161%	8h	313.12	−0.070%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0187%	4h	313.05	−0.094%	$67.5M	$150.6M	50x	as long as short
Arcus TAO-USD	+0.0231%	1h	313.37	+0.009%	$101K	$394K	5x	as long as short
Extended TAO-USD	+0.0320%	1h	313.08	−0.082%	$914K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0323%	4h	312.65	−0.221%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0333%	1h	312.59	−0.241%	$789K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.40	+0.018%	$4.5M	$10.8M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0428%	1h	312.50	−0.268%	$13K	$1.8M	25x	as long as short
Phoenix TAO	+0.0457%	1h	313.70	+0.114%	$312K	$711K	5x	as long as short
Hyperliquid TAO	+0.0478%	1h	313.03	−0.100%	$91.9M	$107.8M	5x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	313.27	−0.023%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0505%	1h	312.63	−0.228%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0640%	1h	313.16	−0.058%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.52	−0.262%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	313.14	−0.066%	$444K	$647K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.773%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	313.56	+0.069%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	316.67	+1.062%	$23K	$2K	12x	as long as short