Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against Gate+0.103%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$570.566% of the position

Long on Gate Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.103%, 7d avg +0.032%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.071% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	320.30	0.0100	pay 0.0050% / 4h	3h 51m	$12.9M	$49.6M	50x
Short	Popdex TAOUSDT	320.63	0.0096	get 0.0012% / 1h	51m 39s	$40K	$578K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Gate. 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 GatebpFee PopdexbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$0.84
Price spread: +0.103% → +0.032%: $7.1
Slippage, 4 orders: −$35.25
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$50.38
Costs to cover: 0.566%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Popdex: live order book, 22 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 Gate live order book, 2 min ago	3.14 bp	19.1 bp −$19	35.3 bp −$353	64.5 bp −$6,455	103.1 bp −$51.6K
Sell Popdex live order book, 22 min ago	1.12 bp	11.3 bp −$11	89.1 bp −$891	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
Bulk TAO-USD	−0.1799%	1h	311.96	−2.604%	$167K	$44K	10x	as long as short
Phemex TAOUSDT	−0.1370%	4h	320.20	−0.031%	$3.5M	$7.9M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	320.40	+0.031%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.92	+0.194%	$21K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	320.63	+0.103%	$40K	$578K	20x
Katana Perps TAO-USD	+0.0100%	8h	320.48	+0.056%	$857	$591K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	320.49	+0.058%	$92.2M	$439.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.00	−0.094%	$26.0M	$106.9M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	320.30	long leg	$12.9M	$49.6M	50x
MEXC TAO_USDT	+0.0100%	4h	320.20	−0.031%	$105.6M	$131.6M	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	320.62	+0.100%	$19.0M	$28.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.19	−0.034%	$35.8M	$48.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	319.37	−0.289%	$36K	$287K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	320.51	+0.066%	$58K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	320.29	−0.003%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.60	+0.094%	$128K	$422K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	321.87	+0.490%	$177K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0142%	4h	319.47	−0.260%	$531K	$945K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0085%	1h	320.79	+0.152%	$464K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	320.52	+0.067%	$379K	$371K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	320.51	+0.066%	$85K	$545K	5x	as long as short
Aster TAOUSDT	+0.0222%	4h	320.52	+0.069%	$1.1M	$8.1M	50x	as long as short
Paradex TAO-USD-PERP	+0.0226%	8h	320.04	−0.081%	$15K	$1K	10x	as long as short
Bullet TAO-USD	+0.0262%	1h	321.12	+0.256%	$12K	$17K	20x	as long as short
Variational Omni TAO	+0.0291%	4h	319.01	−0.402%	$5.5M	$8.6M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	319.44	−0.268%	$4.4M	$10.9M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0341%	1h	320.38	+0.025%	$22K	$1.5M	25x	as long as short
Polymarket Perps TAO-USD	+0.0362%	1h	320.70	+0.125%	$100K	$633K	5x	as long as short
BingX TAO-USDT	+0.0398%	4h	320.64	+0.106%	—	$30.7M	—	as long as short
ApeX Omni TAOUSDT	+0.0476%	1h	318.98	−0.412%	$48K	$268K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0479%	1h	320.34	+0.012%	$5.8M	$20.2M	50x	as long as short
Phoenix TAO	+0.0525%	1h	319.30	−0.312%	$334K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.85	−0.765%	$23K	$370	12x	as long as short
Bybit TAOUSDT	+0.0636%	4h	320.33	+0.009%	$65.9M	$130.1M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	320.25	−0.015%	$368	—	20x	as long as short
Nado TAO-PERP	+0.0772%	1h	320.43	+0.041%	$892K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	321.10	+0.250%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	320.83	+0.165%	$1.5M	$6.1M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1021%	1h	320.77	+0.147%	$320K	$820K	10x	as long as short
Extended TAO-USD	+0.1032%	1h	320.93	+0.198%	$933K	$2.2M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	320.44	+0.044%	$422K	$586K	5x	as long as short
Lighter TAO	+0.1880%	1h	321.34	+0.326%	$1.7M	$5.9M	5x	as long as short
Hyperliquid TAO	+0.2925%	1h	321.18	+0.275%	$105.0M	$88.6M	5x	as long as short