Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against KuCoin+0.116%55s7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.479% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.116%, 7d avg −0.008%

Together, before fees−0.141%−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.123% dearer against KuCoin than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.008%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TAOUSDTM	311.58	0.0100	pay 0.0050% / 4h	3h 03m	$17.4M	$31.4M	75x
Short	Popdex TAOUSDT	311.94	0.0096	get 0.0012% / 1h	3m 37s	$48K	$662K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.116%Rate

Funding earned: −$0.84
Price spread: +0.116% → −0.008%: $12.32
Slippage, 4 orders: −$29.49
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$36.41
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Popdex: live order book, 50 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, 10 min ago	1.76 bp	12.6 bp −$13	32.2 bp −$322	doesn't fit	doesn't fit
Sell Popdex live order book, 50 min ago	1.75 bp	9.5 bp −$9	83.9 bp −$839	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
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.81	+0.073%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.53	−0.017%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0018%	1h	310.95	−0.202%	$124K	$85K	5x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	311.94	+0.116%	$48K	$662K	20x
Katana Perps TAO-USD	+0.0100%	8h	311.85	+0.087%	$638	$862K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.24	−0.109%	$354K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.18	−0.128%	$88.9M	$502.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.20	−0.122%	$25.9M	$120.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	310.90	−0.218%	$13.3M	$50.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.24	−0.109%	$103.0M	$145.8M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTMlong	+0.0100%	4h	311.58	long leg	$17.4M	$31.4M	75x
Bitget TAOUSDT	+0.0100%	4h	310.85	−0.234%	$35.0M	$56.7M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.50	−0.027%	$41K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.18	+0.194%	$530K	$942K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.06	+0.154%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.66	+0.026%	$81K	$905K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.83	+0.080%	$12K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.80	+0.071%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.64	+0.019%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.86	+0.090%	$3.1M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.95	+0.117%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0112%	4h	311.26	−0.103%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	311.77	+0.061%	$51K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0134% / S +0.0137%	1h	311.43	−0.049%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0175%	8h	311.10	−0.154%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.47	−0.035%	$101K	$369K	5x	as long as short
BingX TAO-USDT	+0.0256%	4h	311.13	−0.144%	—	$33.8M	—	as long as short
Bybit TAOUSDT	+0.0282%	4h	311.25	−0.106%	$67.3M	$150.9M	50x	as long as short
Nado TAO-PERP	+0.0305%	1h	311.91	+0.105%	$787K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0312%	1h	311.09	−0.158%	$908K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0338%	4h	312.45	+0.279%	$5.5M	$10.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.08	+0.160%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	312.40	+0.263%	$311K	$711K	5x	as long as short
Hyperliquid TAO	+0.0459%	1h	311.79	+0.067%	$91.4M	$108.0M	5x	as long as short
Bulk TAO-USD	+0.0468%	1h	310.75	−0.266%	$165K	$333	10x	as long as short
Backpack TAO_USDC_PERP	+0.0479%	1h	311.92	+0.109%	$310K	$885K	10x	as long as short
01 Exchange TAOUSD	+0.0496%	1h	312.20	+0.199%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0563%	1h	311.80	+0.071%	$12K	$1.8M	25x	as long as short
Lighter TAO	+0.0600%	1h	311.40	−0.058%	$1.5M	$6.6M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.90	+0.103%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.11	−0.152%	$441K	$647K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.20	+0.199%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	315.73	+1.332%	$23K	$2K	12x	as long as short