Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0449%/8h= −49.1% APRpaid last 24h +0.092%

Price spread now: Kraken Futures against KuCoin−0.023%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$590.592% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.240%+$24 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.023%, 7d avg +0.045%

Together, before fees+0.351%+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Kraken Futures is 0.068% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.045%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.240%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.240% in total (about 12.5% 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	KuCoin TAOUSDTM	311.40	0.0100	pay 0.0050% / 4h	3h 38m	$17.7M	$31.3M	75x
Short	Kraken Futures PF_TAOUSD	311.33	−0.0349	pay 0.0044% / 1h	38m 58s	$5.5M	$20.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$94.22
Price spread: −0.023% → +0.045%: −$6.8
Slippage, 4 orders: −$37.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$160.27
Costs to cover: 0.592%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Kraken Futures: live order book, 5 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	0.80 bp	18.9 bp −$19	32.0 bp −$320	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	5.78 bp	13.3 bp −$13	22.6 bp −$226	95.0 bp −$9,502	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
Kraken Futures PF_TAOUSDshort	−0.0349%	1h	311.33	−0.023%	$5.5M	$20.7M	50x
dYdX TAO-USD	0.0000%	1h	310.87	−0.171%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.11	−0.092%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.47	+0.022%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.21	−0.061%	$1K	$818K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.36	−0.013%	$355K	$414K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.50	+0.032%	$89.4M	$499.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.60	+0.064%	$67.0M	$150.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.50	+0.032%	$25.9M	$120.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.10	−0.096%	$13.0M	$49.8M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	311.59	+0.061%	$101.5M	$144.5M	300x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	311.40	long leg	$17.7M	$31.3M	75x
Bitget TAOUSDT	+0.0100%	4h	311.37	−0.010%	$34.8M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.32	−0.026%	—	$33.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.22	−0.058%	$41K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.58	+0.057%	$528K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.53	+0.042%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.25	−0.048%	$81K	$889K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.42	+0.007%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.20	−0.064%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.73	−0.215%	$109K	$539K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.42	+0.008%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0106%	4h	311.32	−0.024%	$1.2M	$10.4M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0116%	4h	311.33	−0.022%	$52K	$277K	10x	as long as short
Bulk TAO-USD	+0.0125%	1h	311.89	+0.158%	$166K	$333	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0140% / S +0.0132%	1h	311.07	−0.106%	$413K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0150%	8h	311.26	−0.044%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0224%	1h	311.50	+0.031%	$904K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.64	+0.077%	$101K	$394K	5x	as long as short
Nado TAO-PERP	+0.0294%	1h	311.30	−0.031%	$790K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0297%	1h	311.48	+0.026%	$91.4M	$107.2M	5x	as long as short
Variational Omni TAO	+0.0303%	4h	311.43	+0.010%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.31	−0.029%	$4.5M	$10.8M	100x	as long as short
01 Exchange TAOUSD	+0.0448%	1h	311.66	+0.083%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0452%	1h	311.42	+0.006%	$309K	$886K	10x	as long as short
Phemex TAOUSDT	+0.0452%	4h	311.39	−0.003%	$3.2M	$8.0M	50x	as long as short
Phoenix TAO	+0.0457%	1h	311.50	+0.032%	$310K	$711K	5x	as long as short
Lighter TAO	+0.0480%	1h	311.68	+0.089%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0640%	1h	311.36	−0.013%	$19K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.44	+0.013%	$358	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.45	+0.017%	$441K	$660K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	311.92	+0.167%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	314.53	+1.005%	$23K	$2K	12x	as long as short