Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.4325%/8h= −473.6% APRpaid last 24h −0.733%

Price spread now: MEXC against Injective−1.520%100s7-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 MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−3.591%−$359 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 −$130 a day on $10k at the current rate, and MEXC is 1.520% cheaper against Injective than usual: you would sell low and buy high (−$152 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 100 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	322.44	0.4513	pay 0.0564% / 1h	3m 40s	$23K	$2K	12x
Short	MEXC TAO_USDT	317.54	0.0188	get 0.0094% / 4h	3m 40s	$104.0M	$152.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −1.520%Rate

Funding earned: −$908.22
Price spread: −1.520% → 0.000%: −$151.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: −$1,060.21
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.16 bp	3.6 bp −$4	12.9 bp −$129	34.2 bp −$3,422	119.5 bp −$59.7K

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.64	−1.487%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0061%	1h	317.34	−1.583%	$127K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.54	−1.520%	$48K	$716K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.60	−1.501%	$26.4M	$131.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.30	−1.594%	$14.8M	$52.5M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.51	−1.529%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.29	−1.597%	$35.8M	$57.8M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.88	−1.414%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.71	−1.467%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.86	−1.731%	$116K	$590K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX TAO/USD [WBTC.b-USDC]	L +0.0103% / S +0.0138%	1h	317.59	−1.503%	$410K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	317.38	−1.569%	$649	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	317.98	−1.383%	$175K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0138%	1h	318.99	−1.070%	$46K	$259K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0181%	4h	317.81	−1.436%	$52K	$295K	10x	as long as short
MEXC TAO_USDTshort	+0.0188%	4h	317.54	−1.520%	$104.0M	$152.9M	300x
Binance TAOUSDT	+0.0189%	4h	317.57	−1.511%	$92.9M	$532.9M	75x	as long as short
edgeX TAOUSDC	+0.0195%	4h	319.07	−1.045%	$42K	$320K	10x	as long as short
Bulk TAO-USD	+0.0217%	1h	317.92	−1.400%	$169K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0259%	8h	317.73	−1.461%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0278%	4h	317.60	−1.501%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0284%	4h	317.76	−1.451%	$69.8M	$157.1M	50x	as long as short
Bullet TAO-USD	+0.0304%	1h	317.85	−1.424%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	317.62	−1.495%	$373K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0314%	4h	318.68	−1.167%	$542K	$896K	10x	as long as short
Aster TAOUSDT	+0.0345%	4h	317.60	−1.501%	$1.3M	$11.1M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0378%	1h	317.88	−1.414%	$15K	$1.9M	25x	as long as short
Extended TAO-USD	+0.0384%	1h	317.54	−1.521%	$906K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0429%	4h	318.88	−1.104%	$4.7M	$11.0M	100x	as long as short
Phemex TAOUSDT	+0.0449%	4h	317.86	−1.420%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0473%	1h	318.20	−1.314%	$776K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.95	−1.393%	$100K	$383K	5x	as long as short
Variational Omni TAO	+0.0574%	4h	318.65	−1.175%	$5.6M	$10.1M	—	as long as short
Phoenix TAO	+0.0629%	1h	319.30	−0.974%	$321K	$703K	5x	as long as short
Lighter TAO	+0.0648%	1h	317.87	−1.417%	$1.6M	$6.9M	5x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	317.67	−1.479%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0686%	1h	317.69	−1.473%	$94.0M	$110.2M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.89	−1.411%	$366	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0722%	1h	317.87	−1.417%	$439K	$981K	10x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.67	−1.479%	$450K	$661K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0834%	1h	317.92	−1.402%	$6.0M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.64	−1.179%	$1.3M	$7.2M	50x	as long as short
Injective TAO/USDC PERPlong	+0.4513%	1h	322.44	long leg	$23K	$2K	12x