Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0162%/8h= +17.7% APRpaid last 24h +0.049%

Price spread now: Deribit against KuCoin+0.042%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$510.505% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.042%, 7d avg +0.017%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.026% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.017%. Mind the row above: over the last 7 days funding on this pair cost −0.092%, 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	KuCoin TAOUSDTM	313.40	0.0100	pay 0.0050% / 4h	1h 26m	$17.2M	$31.2M	75x
Short	Deribit TAO_USDC-PERPETUAL	313.53	0.0262	get 0.0033% / 1h	26m 34s	$31K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.042%Rate

Funding earned: $34.02
Price spread: +0.042% → +0.017%: $2.57
Slippage, 4 orders: −$31.52
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$13.94
Costs to cover: 0.505%
Break-even: 9.9 days

Slippage from KuCoin: live order book, 5 min ago; Deribit: live order book, 1 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 KuCoin live order book, 5 min ago	2.07 bp	15.3 bp −$15	31.7 bp −$317	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	4.94 bp	11.7 bp −$12	doesn't fit	doesn't fit	doesn't fit

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	314.00	+0.192%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.47	+0.022%	$52K	$633K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.30	−0.032%	$26.6M	$126.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.20	−0.064%	$15.8M	$48.2M	50x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	313.40	long leg	$17.2M	$31.2M	75x
Bitget TAOUSDT	+0.0100%	4h	313.10	−0.096%	$35.5M	$55.7M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.37	+0.310%	$44K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.56	+0.051%	$69K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.32	−0.026%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.72	+0.102%	$111K	$556K	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	+0.0103%	8h	313.38	−0.006%	$884	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	313.21	−0.060%	$949K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0112%	1h	313.61	+0.067%	$172K	$998	3x	as long as short
Lighter TAO	+0.0120%	1h	313.42	+0.007%	$1.6M	$6.7M	5x	as long as short
Binance TAOUSDT	+0.0123%	4h	313.47	+0.022%	$92.3M	$511.0M	75x	as long as short
MEXC TAO_USDT	+0.0124%	4h	313.35	−0.016%	$109.2M	$149.4M	300x	as long as short
edgeX TAOUSDC	+0.0126%	4h	314.15	+0.239%	$42K	$323K	10x	as long as short
BingX TAO-USDT	+0.0130%	4h	313.29	−0.035%	—	$38.1M	—	as long as short
Bybit TAOUSDT	+0.0135%	4h	313.43	+0.010%	$68.6M	$155.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0184%	8h	313.39	−0.003%	$14K	$876	10x	as long as short
GRVT TAO_USDT_Perp	+0.0218%	4h	313.65	+0.081%	$535K	$795K	10x	as long as short
Bullet TAO-USD	+0.0235%	1h	313.64	+0.076%	$12K	$16K	20x	as long as short
Pacifica TAO	+0.0240%	1h	313.46	+0.018%	$371K	$456K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0247%	4h	313.52	+0.038%	$52K	$262K	10x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0262%	1h	313.53	+0.042%	$31K	$1.9M	25x
Phemex TAOUSDT	+0.0272%	4h	313.66	+0.083%	$3.2M	$8.2M	50x	as long as short
Aster TAOUSDT	+0.0280%	4h	313.32	−0.026%	$1.2M	$11.3M	50x	as long as short
Nado TAO-PERP	+0.0346%	1h	313.82	+0.136%	$669K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0358% / S −0.0107%	1h	313.30	−0.031%	$368K	—	100x	as long as short
BloFin TAO-USDT	+0.0365%	4h	313.63	+0.073%	$4.8M	$10.5M	100x	as long as short
Variational Omni TAO	+0.0466%	4h	313.94	+0.173%	$5.6M	$9.9M	—	as long as short
Hyperliquid TAO	+0.0480%	1h	313.62	+0.070%	$94.3M	$106.7M	5x	as long as short
01 Exchange TAOUSD	+0.0496%	1h	313.65	+0.080%	$3K	$2K	5x	as long as short
dYdX TAO-USD	+0.0564%	1h	313.36	−0.014%	$264K	$230K	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	313.67	+0.086%	$100K	$311K	5x	as long as short
Phoenix TAO	+0.0650%	1h	314.10	+0.223%	$316K	$710K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0665%	1h	313.65	+0.080%	$299K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	313.52	+0.040%	$428K	$671K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	313.80	+0.128%	$1.1M	$7.5M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	313.51	+0.036%	$361	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0939%	1h	313.63	+0.075%	$6.3M	$19.6M	50x	as long as short
Bulk TAO-USD	+0.1104%	1h	314.29	+0.284%	$167K	$662	10x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	318.52	+1.634%	$23K	$2K	12x	as long as short