Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0637%/8h= −69.7% APRpaid last 24h −0.091%

Price spread now: MEXC against Kraken Futures−0.093%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$470.465% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.303%−$30 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now −0.093%, 7d avg −0.052%

Together, before fees−0.285%−$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and MEXC is 0.042% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.052%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.303% in total (about -15.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	319.06	0.0831	pay 0.0104% / 1h	6m 49s	$6.0M	$21.7M	50x
Short	MEXC TAO_USDT	318.76	0.0194	get 0.0097% / 4h	6m 49s	$104.3M	$152.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$133.7
Price spread: −0.093% → −0.052%: −$4.19
Slippage, 4 orders: −$36.53
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$184.42
Costs to cover: 0.465%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago	12.35 bp	17.8 bp −$18	22.7 bp −$227	99.8 bp −$9,981	doesn't fit
Sell MEXC live order book, 2 min ago	0.16 bp	3.6 bp −$4	12.9 bp −$129	34.2 bp −$3,422	119.5 bp −$59.7K

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	318.64	−0.132%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0066%	1h	318.86	−0.062%	$128K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.23	+0.054%	$49K	$716K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.60	−0.144%	$26.5M	$132.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.40	−0.206%	$14.8M	$52.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.52	−0.169%	$17.9M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.39	−0.209%	$35.9M	$58.1M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.02	−0.012%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.73	−0.103%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.08	−0.307%	$116K	$592K	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 +0.0137%	1h	318.64	−0.132%	$411K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	318.98	−0.024%	$653	$1.2M	5x	as long as short
ApeX Omni TAOUSDT	+0.0121%	1h	319.65	+0.185%	$46K	$259K	50x	as long as short
Aevo TAO-PERP	+0.0128%	1h	319.08	+0.008%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0180%	4h	318.97	−0.028%	$52K	$295K	10x	as long as short
edgeX TAOUSDC	+0.0189%	4h	319.75	+0.215%	$42K	$319K	10x	as long as short
MEXC TAO_USDTshort	+0.0194%	4h	318.76	−0.093%	$104.3M	$152.8M	300x
Binance TAOUSDT	+0.0195%	4h	318.74	−0.100%	$93.2M	$533.7M	75x	as long as short
Bulk TAO-USD	+0.0217%	1h	317.92	−0.355%	$169K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0265%	8h	319.00	−0.019%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0278%	4h	318.67	−0.122%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0285%	4h	318.79	−0.084%	$70.1M	$157.2M	50x	as long as short
Bullet TAO-USD	+0.0306%	1h	319.06	+0.001%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	319.00	−0.018%	$374K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	319.67	+0.191%	$544K	$896K	10x	as long as short
Aster TAOUSDT	+0.0356%	4h	318.78	−0.087%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0392%	1h	318.61	−0.141%	$906K	$2.4M	25x	as long as short
Phemex TAOUSDT	+0.0434%	4h	318.88	−0.056%	$3.2M	$8.1M	50x	as long as short
BloFin TAO-USDT	+0.0435%	4h	319.14	+0.026%	$4.7M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0467%	1h	319.13	+0.023%	$782K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	319.46	+0.126%	$101K	$384K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0562%	1h	318.93	−0.040%	$15K	$1.9M	25x	as long as short
Variational Omni TAO	+0.0568%	4h	319.84	+0.245%	$5.6M	$10.1M	—	as long as short
Phoenix TAO	+0.0629%	1h	319.90	+0.264%	$322K	$703K	5x	as long as short
Lighter TAO	+0.0632%	1h	319.19	+0.042%	$1.6M	$6.9M	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	319.56	+0.157%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.06	0.000%	$367	—	20x	as long as short
Hyperliquid TAO	+0.0699%	1h	319.13	+0.023%	$94.5M	$110.1M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0706%	1h	319.11	+0.016%	$417K	$969K	10x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0831%	1h	319.06	long leg	$6.0M	$21.7M	50x
RISEx TAO/USDC	+0.0831%	1h	319.19	+0.041%	$452K	$662K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.76	+0.220%	$1.3M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.44	+1.060%	$23K	$2K	12x	as long as short