Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against OKX+0.205%73s7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs+$8as in the Funding arb table

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

costs, in and out, $10k−$380.377% of the position

Long on OKX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.456%+$46 on $10k

Price spread, last 4 days (all we have)−0.153%−$15 · spread now +0.205%, 7d avg +0.044%

Together, before fees+0.303%+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.162% dearer against OKX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.044%. The two prices were read 73 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	OKX TAO-USDT-SWAP	311.60	0.0100	pay 0.0100% / 8h	3h 44m	$25.9M	$120.2M	50x
Short	BloFin TAO-USDT	312.24	0.0340	get 0.0170% / 4h	3h 44m	$4.5M	$10.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against OKX. 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 OKXbpFee BloFinbpOrdersPrice spread, now +0.205%Rate

Funding earned: $50.4
Price spread: +0.205% → +0.044%: $16.17
Slippage, 4 orders: −$15.66
Fee OKX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $28.9
Costs to cover: 0.377%
Break-even: 3.0 days

Slippage from OKX: live order book, 5 min ago; BloFin: 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 OKX live order book, 5 min ago	1.60 bp	6.6 bp −$7	13.7 bp −$137	58.3 bp −$5,826	doesn't fit
Sell BloFin live order book, 5 min ago	3.52 bp	11.3 bp −$11	18.5 bp −$185	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	311.84	+0.075%	$5.5M	$20.7M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	311.42	−0.058%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.72	+0.039%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.85	+0.080%	$45K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.87	+0.087%	$2K	$813K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.49	−0.036%	$355K	$413K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.71	+0.035%	$89.5M	$498.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.75	+0.048%	$67.0M	$150.0M	50x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	311.60	long leg	$25.9M	$120.2M	50x
Bulk TAO-USD	+0.0100%	1h	315.10	+1.123%	$167K	$2K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	311.60	0.000%	$13.0M	$49.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.90	+0.096%	$101.1M	$144.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.80	+0.064%	$17.8M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.60	0.000%	$34.9M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.89	+0.093%	—	$33.1M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.19	+0.191%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.93	+0.105%	$529K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.96	+0.116%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.74	+0.045%	$82K	$870K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.03	+0.138%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.88	+0.090%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.42	−0.058%	$109K	$537K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.89	+0.093%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0114%	4h	311.78	+0.058%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0118%	4h	311.89	+0.092%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0141% / S +0.0131%	1h	311.71	+0.036%	$415K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0142%	8h	311.40	−0.064%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0184%	1h	311.83	+0.073%	$913K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.78	+0.058%	$101K	$392K	5x	as long as short
Hyperliquid TAO	+0.0235%	1h	312.08	+0.154%	$91.6M	$107.2M	5x	as long as short
Nado TAO-PERP	+0.0263%	1h	311.92	+0.103%	$790K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0324%	4h	312.10	+0.161%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	312.24	+0.205%	$4.5M	$10.8M	100x
Phemex TAOUSDT	+0.0366%	4h	311.93	+0.106%	$3.2M	$8.1M	50x	as long as short
Lighter TAO	+0.0408%	1h	312.12	+0.168%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0409%	1h	312.04	+0.141%	$310K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	311.85	+0.080%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0457%	1h	312.50	+0.289%	$311K	$711K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0530%	1h	311.92	+0.103%	$29K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.94	+0.108%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.65	+0.015%	$433K	$650K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.52	+0.295%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+1.855%	$23K	$2K	12x	as long as short