Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.4072%/8h= +445.9% APRpaid last 24h +0.582%

Price spread now: Injective against OKX+1.843%68s7-day average — · you sell dearer than you buy

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.410%+$341 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$122 a day on $10k at the current rate, and Injective is 1.843% dearer against OKX than usual: you sell high and buy low: +$184 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 68 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	315.80	0.0100	pay 0.0100% / 8h	5h 04m	$26.0M	$119.6M	50x
Short	Injective TAO/USDC PERP	321.62	0.4172	get 0.0521% / 1h	4m 12s	$23K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.843%Rate

Funding earned: $855.09
Price spread: +1.843% → 0.000%: $184.29
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,029.37
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 5 min ago; Injective: 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 OKX live order book, 5 min ago	1.58 bp	11.0 bp −$11	23.2 bp −$232	62.9 bp −$6,293	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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
Bulk TAO-USD	−0.0766%	1h	316.69	+0.280%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.53	+0.230%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.69	−0.035%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.05	+0.079%	$41K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.80	−0.001%	$91.8M	$490.5M	75x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	315.80	long leg	$26.0M	$119.6M	50x
Gate TAO_USDT	+0.0100%	4h	315.80	0.000%	$12.9M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.71	−0.028%	$104.5M	$144.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.71	−0.028%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.69	−0.035%	$35.2M	$56.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.32	+0.164%	$35K	$303K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.88	+0.025%	$88K	$794K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.55	−0.079%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.33	−0.149%	$109K	$529K	20x	as long as short
Phemex TAOUSDT	+0.0103%	4h	315.55	−0.079%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.75	−0.017%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	315.95	+0.047%	$673	$778K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	315.73	−0.022%	$57K	$275K	10x	as long as short
Bullet TAO-USD	+0.0129%	1h	315.89	+0.027%	$12K	$18K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0156% / S +0.0113%	1h	315.70	−0.032%	$428K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0178%	4h	317.27	+0.466%	$528K	$965K	10x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	316.39	+0.187%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.73	−0.023%	$5.6M	$20.8M	50x	as long as short
Aster TAOUSDT	+0.0265%	4h	315.86	+0.020%	$1.2M	$10.1M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0274%	1h	315.75	−0.017%	$15K	$1.7M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.31	+0.161%	$4.6M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0349%	1h	316.96	+0.367%	$47K	$252K	50x	as long as short
Bybit TAOUSDT	+0.0367%	4h	315.95	+0.047%	$69.2M	$146.0M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	315.85	+0.016%	—	$30.4M	—	as long as short
Pacifica TAO	+0.0448%	1h	316.56	+0.241%	$372K	$413K	10x	as long as short
Phoenix TAO	+0.0504%	1h	316.50	+0.222%	$331K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.48	+0.215%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0560%	1h	315.75	−0.017%	$824K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0560%	1h	315.72	−0.026%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	316.26	+0.146%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.86	+0.020%	$363	—	20x	as long as short
Lighter TAO	+0.0704%	1h	316.09	+0.092%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0758%	4h	315.94	+0.045%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0814%	1h	315.89	+0.028%	$314K	$926K	10x	as long as short
Hyperliquid TAO	+0.0925%	1h	316.03	+0.073%	$95.3M	$104.2M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.405%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.21	+0.131%	$436K	$659K	5x	as long as short
Injective TAO/USDC PERPshort	+0.4172%	1h	321.62	+1.843%	$23K	$2K	12x