Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.3601%/8h= +394.3% APRpaid last 24h +0.671%

Price spread now: Injective against edgeX+1.367%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.517%+$352 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$108 a day on $10k at the current rate, and Injective is 1.367% dearer against edgeX than usual: you sell high and buy low: +$137 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TAOUSDC	319.26	0.0110	pay 0.0055% / 4h	2h 07m	$42K	$315K	10x
Short	Injective TAO/USDC PERP	323.62	0.3711	get 0.0464% / 1h	7m 02s	$24K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.367%Rate

Funding earned: $756.2
Price spread: +1.367% → 0.000%: $136.66
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $883.84
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 41 min ago; Injective: no order-book sample. Net counts fees only.

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, 41 min ago	6.37 bp	10.9 bp −$11	24.5 bp −$245	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1195%	1h	319.01	−0.076%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	321.63	+0.742%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0029%	1h	320.43	+0.368%	$128K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	321.90	+0.828%	$26.8M	$127.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.60	+0.734%	$14.4M	$51.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.04	+0.872%	$17.7M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.70	+0.765%	$36.3M	$57.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	321.62	+0.740%	$79K	$958K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	321.62	+0.740%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	321.66	+0.753%	$117K	$564K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	321.66	+0.753%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	321.59	+0.731%	$658	$952K	5x	as long as short
edgeX TAOUSDClong	+0.0110%	4h	319.26	long leg	$42K	$315K	10x
Aevo TAO-PERP	+0.0112%	1h	322.16	+0.908%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	321.95	+0.844%	$53K	$291K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	321.66	+0.753%	$55K	$672K	20x	as long as short
MEXC TAO_USDT	+0.0122%	4h	322.02	+0.865%	$102.9M	$148.6M	300x	as long as short
Binance TAOUSDT	+0.0124%	4h	322.06	+0.878%	$93.1M	$515.2M	75x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0142%	1h	321.62	+0.740%	$432K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	320.85	+0.499%	$365K	$421K	10x	as long as short
Aster TAOUSDT	+0.0282%	4h	321.92	+0.834%	$1.3M	$10.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0291%	8h	320.82	+0.490%	$15K	$1K	10x	as long as short
Nado TAO-PERP	+0.0292%	1h	321.72	+0.772%	$814K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0296%	1h	322.35	+0.969%	$6.1M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0324%	1h	322.04	+0.870%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0364%	4h	321.98	+0.853%	$4.6M	$11.1M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	321.95	+0.844%	—	$33.9M	—	as long as short
Bybit TAOUSDT	+0.0438%	4h	322.13	+0.900%	$70.7M	$154.0M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0440%	4h	319.60	+0.107%	$545K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	321.32	+0.646%	$104K	$358K	5x	as long as short
Variational Omni TAO	+0.0485%	4h	319.46	+0.063%	$5.6M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0487%	1h	319.47	+0.067%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0504%	1h	321.93	+0.837%	$916K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	320.60	+0.421%	$319K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	321.85	+0.814%	$370	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0759%	1h	322.07	+0.880%	$15K	$1.8M	25x	as long as short
Lighter TAO	+0.0800%	1h	322.35	+0.969%	$1.5M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	321.97	+0.850%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0813%	1h	322.14	+0.903%	$94.8M	$109.3M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0844%	1h	322.12	+0.897%	$319K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	322.27	+0.944%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	321.45	+0.687%	$463K	$649K	5x	as long as short
Injective TAO/USDC PERPshort	+0.3711%	1h	323.62	+1.367%	$24K	$2K	12x