Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3412%/8h= −373.6% APRpaid last 24h −0.773%

Price spread now: OKX against Injective+0.481%7-day average — · you sell dearer than you buy

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

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−3.605%−$360 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. OKX is 0.481% dearer against Injective than usual: you sell high and buy low (spread +0.481% now, against zero (this spread has no 7-day history yet)): +$48 on $10k if it goes back. Holding the pair costs −$102 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	317.77	0.3512	pay 0.0439% / 1h	21m 16s	$23K	$2K	12x
Short	OKX TAO-USDT-SWAP	319.30	0.0100	get 0.0100% / 8h	7h 21m	$26.6M	$131.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.481%Rate

Funding earned: −$716.55
Price spread: +0.481% → 0.000%: $48.15
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$678.42
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	1.57 bp	9.3 bp −$9	16.0 bp −$160	60.3 bp −$6,027	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	318.70	+0.291%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.27	+0.472%	$49K	$699K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	319.38	+0.507%	$69.8M	$155.1M	50x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	319.30	+0.481%	$26.6M	$131.0M	50x
Bulk TAO-USD	+0.0100%	1h	315.14	−0.828%	$167K	$0	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.10	+0.419%	$15.2M	$50.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.35	+0.497%	$17.6M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.04	+0.400%	$36.0M	$57.1M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.85	+0.340%	$88K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.29	+0.478%	$1K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	319.10	+0.419%	$116K	$573K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.17	+0.441%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0105%	8h	319.03	+0.397%	$2K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.61	+0.579%	$176K	$998	3x	as long as short
BingX TAO-USDT	+0.0140%	4h	319.29	+0.478%	—	$38.8M	—	as long as short
edgeX TAOUSDC	+0.0141%	4h	318.39	+0.195%	$42K	$321K	10x	as long as short
MEXC TAO_USDT	+0.0152%	4h	319.33	+0.491%	$110.0M	$153.4M	300x	as long as short
Binance TAOUSDT	+0.0161%	4h	319.42	+0.519%	$93.0M	$523.7M	75x	as long as short
Orderly PERP_TAO_USDC	+0.0231%	4h	319.65	+0.592%	$54K	$293K	10x	as long as short
Paradex TAO-USD-PERP	+0.0242%	8h	319.32	+0.488%	$14K	$876	10x	as long as short
dYdX TAO-USD	+0.0271%	1h	318.81	+0.328%	$128K	$88K	5x	as long as short
ApeX Omni TAOUSDT	+0.0282%	1h	318.62	+0.267%	$45K	$257K	50x	as long as short
Bullet TAO-USD	+0.0288%	1h	319.43	+0.523%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0327%	4h	319.70	+0.607%	$1.2M	$11.1M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0332%	4h	317.64	−0.040%	$538K	$838K	10x	as long as short
Pacifica TAO	+0.0349%	1h	319.27	+0.472%	$368K	$445K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0367% / S −0.0109%	1h	319.01	+0.389%	$378K	—	100x	as long as short
Extended TAO-USD	+0.0400%	1h	319.50	+0.545%	$897K	$2.3M	25x	as long as short
BloFin TAO-USDT	+0.0401%	4h	319.50	+0.544%	$4.8M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	319.44	+0.526%	$101K	$360K	5x	as long as short
Nado TAO-PERP	+0.0443%	1h	319.17	+0.441%	$773K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0555%	1h	319.56	+0.563%	$94.8M	$109.0M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0578%	1h	319.61	+0.578%	$9K	$1.9M	25x	as long as short
Phoenix TAO	+0.0578%	1h	319.20	+0.450%	$321K	$714K	5x	as long as short
Variational Omni TAO	+0.0597%	4h	313.84	−1.236%	$5.5M	$10.1M	—	as long as short
01 Exchange TAOUSD	+0.0616%	1h	319.80	+0.639%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0680%	1h	319.55	+0.561%	$1.6M	$6.7M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.19	+0.447%	$367	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0730%	1h	319.64	+0.588%	$315K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0779%	1h	319.47	+0.534%	$6.1M	$21.2M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	318.31	+0.171%	$453K	$706K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	319.75	+0.623%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERPlong	+0.3512%	1h	317.77	long leg	$23K	$2K	12x