Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.3337%/8h= −365.4% APRpaid last 24h −0.599%

Price spread now: BloFin against Injective−0.222%7-day average — · you buy dearer than you sell

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−3.059%−$306 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$100 a day on $10k at the current rate, and BloFin is 0.222% cheaper against Injective than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	323.62	0.3711	pay 0.0464% / 1h	4m 32s	$24K	$2K	12x
Short	BloFin TAO-USDT	322.90	0.0375	get 0.0187% / 4h	2h 04m	$4.6M	$11.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now −0.222%Rate

Funding earned: −$700.73
Price spread: −0.222% → 0.000%: −$22.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$735
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 4 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	1.09 bp	11.8 bp −$12	17.6 bp −$176	32.1 bp −$3,211	doesn't fit

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	−1.424%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	322.61	−0.313%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0028%	1h	323.34	−0.086%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.60	−0.006%	$26.9M	$128.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.50	−0.037%	$14.2M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.16	+0.167%	$17.8M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.41	−0.065%	$36.5M	$57.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.63	−0.306%	$83K	$965K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.65	−0.300%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	322.15	−0.454%	$118K	$566K	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	322.81	−0.250%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	323.57	−0.015%	$2K	$959K	5x	as long as short
Popdex TAOUSDT	+0.0112%	1h	323.88	+0.080%	$42K	$686K	20x	as long as short
Aevo TAO-PERP	+0.0112%	1h	322.90	−0.222%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	322.87	−0.232%	$53K	$291K	10x	as long as short
edgeX TAOUSDC	+0.0123%	4h	321.43	−0.678%	$42K	$316K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0142%	1h	322.67	−0.294%	$433K	—	100x	as long as short
MEXC TAO_USDT	+0.0134%	4h	323.81	+0.059%	$103.6M	$149.0M	300x	as long as short
Binance TAOUSDT	+0.0144%	4h	323.82	+0.062%	$93.6M	$517.3M	75x	as long as short
Pacifica TAO	+0.0233%	1h	323.82	+0.063%	$368K	$421K	10x	as long as short
Nado TAO-PERP	+0.0288%	1h	323.67	+0.015%	$817K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0295%	1h	323.08	−0.166%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0299%	8h	324.05	+0.134%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0300%	4h	323.81	+0.059%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USD	+0.0326%	1h	323.12	−0.155%	$12K	$17K	20x	as long as short
BloFin TAO-USDTshort	+0.0375%	4h	322.90	−0.222%	$4.6M	$11.2M	100x
BingX TAO-USDT	+0.0394%	4h	323.60	−0.006%	—	$34.0M	—	as long as short
Bybit TAOUSDT	+0.0446%	4h	323.55	−0.022%	$70.9M	$154.4M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0448%	1h	322.85	−0.239%	$14K	$1.8M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.496%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	323.84	+0.068%	$111K	$377K	5x	as long as short
Extended TAO-USD	+0.0504%	1h	323.38	−0.076%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	−0.037%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	−0.013%	$5.7M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0529%	1h	321.20	−0.748%	$47K	$257K	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	322.51	−0.343%	$371	—	20x	as long as short
Lighter TAO	+0.0816%	1h	324.46	+0.259%	$1.5M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	324.52	+0.278%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0819%	1h	324.38	+0.235%	$95.6M	$109.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0852%	1h	323.10	−0.161%	$320K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	325.00	+0.426%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.65	+0.009%	$465K	$650K	5x	as long as short
Injective TAO/USDC PERPlong	+0.3711%	1h	323.62	long leg	$24K	$2K	12x