Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0155%/8h= +17.0% APRpaid last 24h +0.015%

Price spread now: Bullet against KuCoin−0.028%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Bullet is 0.028% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TAOUSDTM	315.81	0.0100	pay 0.0050% / 4h	1h 43m	$17.5M	$31.3M	75x
Short	Bullet TAO-USD	315.72	0.0255	get 0.0032% / 1h	43m 55s	$12K	$16K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against KuCoin. 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 KuCoinbpFee BulletbpOrdersPrice spread, now −0.028%Rate

Funding earned: $32.54
Price spread: −0.028% → 0.000%: −$2.85
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: $9.69
Costs to cover: 0.200%
Break-even: 4.9 days

Slippage unknown: KuCoin: live order book, 3 min ago; Bullet: no order-book sample. 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 KuCoin live order book, 3 min ago	1.42 bp	15.9 bp −$16	27.7 bp −$277	84.2 bp −$8,419	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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 exchanges

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	315.42	−0.124%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.46	−0.111%	$50K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.90	+0.028%	$26.8M	$127.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.60	−0.066%	$15.7M	$47.6M	50x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	315.81	long leg	$17.5M	$31.3M	75x
Bitget TAOUSDT	+0.0100%	4h	315.64	−0.054%	$35.8M	$55.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.83	+0.006%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.12	−0.218%	$81K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.09	−0.228%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.18	−0.199%	$112K	$567K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0104%	8h	315.29	−0.165%	$889	$1.3M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	315.71	−0.031%	$173K	$998	3x	as long as short
Bybit TAOUSDT	+0.0128%	4h	315.96	+0.047%	$69.1M	$155.6M	50x	as long as short
Binance TAOUSDT	+0.0133%	4h	315.88	+0.023%	$92.9M	$510.9M	75x	as long as short
MEXC TAO_USDT	+0.0134%	4h	315.97	+0.051%	$106.1M	$147.8M	300x	as long as short
edgeX TAOUSDC	+0.0136%	4h	315.81	0.000%	$42K	$324K	10x	as long as short
BingX TAO-USDT	+0.0138%	4h	315.88	+0.022%	—	$38.1M	—	as long as short
Lighter TAO	+0.0192%	1h	315.98	+0.055%	$1.6M	$6.6M	5x	as long as short
Paradex TAO-USD-PERP	+0.0199%	8h	315.39	−0.132%	$14K	$876	10x	as long as short
Extended TAO-USD	+0.0200%	1h	315.79	−0.006%	$954K	$2.1M	25x	as long as short
Pacifica TAO	+0.0240%	1h	315.45	−0.114%	$373K	$456K	10x	as long as short
Phemex TAOUSDT	+0.0243%	4h	315.81	0.000%	$3.2M	$8.2M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0246%	4h	316.07	+0.082%	$539K	$795K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0252%	4h	315.89	+0.025%	$53K	$262K	10x	as long as short
Bullet TAO-USDshort	+0.0255%	1h	315.72	−0.028%	$12K	$16K	20x
Aster TAOUSDT	+0.0298%	4h	315.82	+0.004%	$1.2M	$11.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0359% / S −0.0107%	1h	315.25	−0.177%	$371K	—	100x	as long as short
BloFin TAO-USDT	+0.0376%	4h	315.50	−0.098%	$4.9M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0379%	1h	315.44	−0.116%	$693K	$2.0M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0411%	1h	315.87	+0.020%	$15K	$1.9M	25x	as long as short
Variational Omni TAO	+0.0452%	4h	315.92	+0.036%	$5.6M	$9.9M	—	as long as short
Hyperliquid TAO	+0.0482%	1h	316.05	+0.076%	$95.1M	$107.1M	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	315.65	−0.051%	$3K	$2K	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	315.65	−0.051%	$99K	$310K	5x	as long as short
Bulk TAO-USD	+0.0627%	1h	316.13	+0.101%	$168K	$0	10x	as long as short
Phoenix TAO	+0.0650%	1h	316.10	+0.092%	$318K	$710K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0656%	1h	316.07	+0.082%	$297K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	315.20	−0.192%	$435K	$671K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	315.59	−0.070%	$1.1M	$7.6M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	315.53	−0.089%	$363	—	20x	as long as short
dYdX TAO-USD	+0.0774%	1h	315.21	−0.191%	$266K	$230K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0932%	1h	316.03	+0.069%	$6.2M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	320.28	+1.415%	$23K	$2K	12x	as long as short