Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.102%

Price spread now: HTX against Kraken Futures−0.125%7-day average −0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs−$263as in the Funding arb table

Net, price: spread back to 7d avg − costs−$232as in the Price arb table

costs, in and out, $10k−$2352.354% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.278%−$28 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.125%, 7d avg −0.155%

Together, before fees−0.309%−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and HTX is 0.030% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.155%. Mind the row above: over the last 7 days funding on this pair cost −0.278%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	314.79	0.0056	pay 0.0007% / 1h	7m 45s	$5.5M	$20.6M	50x
Short	HTX TAO-USDT	314.40	0.0100	get 0.0050% / 4h	7m 45s	$109K	$535K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Kraken Futures. 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 Kraken FuturesbpFee HTXbpOrdersPrice spread, now −0.125%Rate

Funding earned: $9.15
Price spread: −0.125% → −0.155%: $2.99
Slippage, 4 orders: −$213.38
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$223.24
Costs to cover: 2.354%
Break-even: 177.8 days

Slippage from Kraken Futures: live order book, 1 min ago; HTX: live order book, 51 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 Kraken Futures live order book, 1 min ago	6.67 bp	16.4 bp −$16	23.3 bp −$233	76.5 bp −$7,654	doesn't fit
Sell HTX live order book, 51 min ago	13.02 bp	93.1 bp −$93	doesn't fit	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
dYdX TAO-USD	0.0000%	1h	314.46	−0.104%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.57	−0.071%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0056%	1h	314.79	long leg	$5.5M	$20.6M	50x
Popdex TAOUSDT	+0.0096%	1h	314.72	−0.023%	$43K	$669K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.83	+0.012%	$1K	$800K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.74	−0.017%	$91.0M	$495.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.85	+0.018%	$67.9M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	−0.029%	$26.0M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.50	−0.093%	$12.9M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.78	−0.004%	$99.6M	$144.3M	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	314.59	−0.064%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.53	−0.083%	$35.2M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.78	−0.004%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.88	+0.027%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.41	−0.122%	$520K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.05	+0.082%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.58	−0.067%	$77K	$860K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.78	−0.002%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.71	−0.026%	$2K	$1.9M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	314.40	−0.125%	$109K	$535K	20x
Phemex TAOUSDT	+0.0100%	4h	314.81	+0.006%	$3.2M	$8.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.68	−0.036%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.84	+0.016%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.71	−0.026%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0144% / S +0.0123%	1h	314.52	−0.086%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0152%	8h	314.80	+0.002%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0164%	4h	314.80	+0.002%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0192%	1h	314.70	−0.029%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0214%	1h	314.68	−0.035%	$800K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0281%	1h	314.98	+0.061%	$92.7M	$106.5M	5x	as long as short
01 Exchange TAOUSD	+0.0336%	1h	314.92	+0.041%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.96	+0.053%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.15	+0.114%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0350%	1h	314.87	+0.025%	$315K	$912K	10x	as long as short
Pacifica TAO	+0.0365%	1h	314.85	+0.017%	$359K	$412K	10x	as long as short
Lighter TAO	+0.0368%	1h	315.13	+0.106%	$1.5M	$6.5M	5x	as long as short
Variational Omni TAO	+0.0450%	4h	315.00	+0.065%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0457%	1h	314.89	+0.032%	$23K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.90	+0.034%	$313K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.75	−0.014%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.87	+0.026%	$437K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.10	+0.098%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.079%	$23K	$2K	12x	as long as short