Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0370%/8h= −40.5% APRpaid last 24h −0.635%

Price spread now: HTX against Injective−1.231%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 HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−3.447%−$345 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 −$11 a day on $10k at the current rate, and HTX is 1.231% cheaper against Injective than usual: you would sell low and buy high (−$123 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	316.84	0.0470	pay 0.0059% / 1h	58m 31s	$23K	$2K	12x
Short	HTX TAO-USDT	312.94	0.0100	get 0.0050% / 4h	2h 58m	$119K	$446K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −1.231%Rate

Funding earned: −$77.61
Price spread: −1.231% → 0.000%: −$123.09
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: −$212.72
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; HTX: live order book, 10 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 HTX live order book, 10 min ago	21.48 bp	73.2 bp −$73	doesn't fit	doesn't fit	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	−0.1228%	1h	316.14	−0.221%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	310.95	−1.860%	$124K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.02	−1.522%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.59	−1.341%	$44K	$610K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.28	−1.439%	$89.7M	$454.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.20	−1.464%	$25.4M	$108.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.10	−1.496%	$12.7M	$48.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.52	−1.363%	$99.9M	$134.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.59	−1.341%	$18.3M	$29.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.32	−1.427%	$34.8M	$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	−0.530%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.04	−1.199%	$522K	$962K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.60	−0.707%	$48K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.28	−1.439%	$57K	$318K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.22	−1.458%	$1K	$1.9M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	312.94	−1.231%	$119K	$446K	20x
Aevo TAO-PERP	+0.0104%	1h	312.44	−1.388%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	312.19	−1.468%	$639	$657K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0169%	1h	312.35	−1.418%	$5.6M	$20.3M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0171% / S +0.0110%	1h	312.10	−1.495%	$435K	—	100x	as long as short
Aster TAOUSDT	+0.0173%	4h	312.04	−1.516%	$1.3M	$9.0M	50x	as long as short
Bullet TAO-USD	+0.0179%	1h	312.59	−1.341%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0181%	1h	312.34	−1.420%	$16K	$1.5M	25x	as long as short
Paradex TAO-USD-PERP	+0.0233%	8h	311.67	−1.633%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0278%	1h	312.73	−1.297%	$91K	$619K	5x	as long as short
Pacifica TAO	+0.0285%	1h	311.74	−1.610%	$369K	$373K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	312.43	−1.392%	$83K	$550K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.04	−1.199%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERPlong	+0.0470%	1h	316.84	long leg	$23K	$2K	12x
Phoenix TAO	+0.0525%	1h	313.80	−0.959%	$328K	$620K	5x	as long as short
01 Exchange TAOUSD	+0.0568%	1h	312.56	−1.351%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0606%	4h	314.06	−0.877%	$5.4M	$8.7M	—	as long as short
Nado TAO-PERP	+0.0658%	1h	312.68	−1.314%	$776K	$2.1M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	312.61	−1.334%	$359	—	20x	as long as short
BingX TAO-USDT	+0.0704%	4h	312.29	−1.436%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0740%	4h	312.46	−1.382%	$63.6M	$134.8M	50x	as long as short
Phemex TAOUSDT	+0.0835%	4h	312.78	−1.281%	$3.4M	$7.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0907%	1h	312.77	−1.285%	$316K	$818K	10x	as long as short
Hyperliquid TAO	+0.0996%	1h	312.89	−1.247%	$99.7M	$92.2M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	313.97	−0.906%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1056%	1h	312.19	−1.468%	$898K	$2.4M	25x	as long as short
RISEx TAO/USDC	+0.1132%	1h	312.27	−1.441%	$414K	$602K	5x	as long as short
Lighter TAO	+0.1376%	1h	311.73	−1.612%	$1.6M	$6.0M	5x	as long as short