Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h −0.018%

Price spread now: BingX against Pacifica−0.028%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.185%+$18 · spread now −0.028%, 7d avg −0.010%

Together, before fees+0.166%+ Points / potential airdropPacifica: Active · farm board+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	317.26	0.0240	pay 0.0030% / 1h	53m 37s	$376K	$456K	10x
Short	BingX TAO-USDT	317.17	0.0152	get 0.0076% / 4h	1h 53m	—	$37.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Pacifica. 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 PacificabpFee BingXbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$18.58
Price spread: −0.028% → −0.010%: −$1.8
Slippage, 4 orders: −$15.85
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$54.23
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Pacifica: live order book, 58 min ago; BingX: live order book, 3 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 Pacifica live order book, 58 min ago	2.67 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	0.63 bp	7.0 bp −$7	10.2 bp −$102	22.5 bp −$2,251	57.1 bp −$28.6K

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	316.99	−0.084%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.23	−0.009%	$50K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.20	−0.019%	$26.9M	$128.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.90	−0.113%	$15.8M	$47.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.09	−0.053%	$17.6M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.97	−0.091%	$35.9M	$56.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.79	+0.167%	$45K	$253K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.86	−0.126%	$81K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.14	−0.038%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.28	+0.007%	$113K	$563K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	317.28	+0.007%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	316.98	−0.088%	$3K	$1.3M	5x	as long as short
Bybit TAOUSDT	+0.0106%	4h	317.21	−0.015%	$69.5M	$155.5M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	317.35	+0.030%	$174K	$998	3x	as long as short
Binance TAOUSDT	+0.0141%	4h	317.25	−0.003%	$93.3M	$511.5M	75x	as long as short
MEXC TAO_USDT	+0.0146%	4h	317.29	+0.010%	$103.7M	$146.9M	300x	as long as short
BingX TAO-USDTshort	+0.0152%	4h	317.17	−0.028%	—	$37.9M	—
edgeX TAOUSDC	+0.0153%	4h	318.61	+0.425%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0208%	8h	317.28	+0.007%	$14K	$876	10x	as long as short
Lighter TAO	+0.0208%	1h	317.26	−0.001%	$1.6M	$6.6M	5x	as long as short
Extended TAO-USD	+0.0208%	1h	317.16	−0.032%	$953K	$2.1M	25x	as long as short
Bullet TAO-USD	+0.0215%	1h	317.45	+0.059%	$12K	$17K	20x	as long as short
Pacifica TAOlong	+0.0240%	1h	317.26	long leg	$376K	$456K	10x
Orderly PERP_TAO_USDC	+0.0256%	4h	317.25	−0.003%	$53K	$262K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0268%	4h	317.35	+0.027%	$541K	$805K	10x	as long as short
Aster TAOUSDT	+0.0310%	4h	317.18	−0.026%	$1.2M	$11.2M	50x	as long as short
Nado TAO-PERP	+0.0355%	1h	317.12	−0.043%	$699K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	316.89	−0.116%	$373K	—	100x	as long as short
BloFin TAO-USDT	+0.0390%	4h	317.48	+0.070%	$4.8M	$10.4M	100x	as long as short
Hyperliquid TAO	+0.0431%	1h	317.31	+0.016%	$95.6M	$107.0M	5x	as long as short
Variational Omni TAO	+0.0445%	4h	318.15	+0.282%	$5.7M	$9.8M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0461%	1h	317.27	+0.003%	$15K	$1.9M	25x	as long as short
dYdX TAO-USD	+0.0555%	1h	316.92	−0.107%	$267K	$230K	5x	as long as short
Phoenix TAO	+0.0567%	1h	319.60	+0.738%	$321K	$710K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0590%	1h	317.35	+0.029%	$298K	$1.1M	10x	as long as short
Arcus TAO-USD	+0.0610%	1h	317.52	+0.082%	$100K	$310K	5x	as long as short
RISEx TAO/USDC	+0.0666%	1h	317.29	+0.010%	$431K	$683K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	317.33	+0.022%	$3K	$2K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	317.47	+0.067%	$1.1M	$7.6M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	317.14	−0.038%	$365	—	20x	as long as short
Bulk TAO-USD	+0.0807%	1h	318.75	+0.470%	$169K	$0	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0928%	1h	317.41	+0.047%	$6.2M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	322.67	+1.706%	$23K	$2K	12x	as long as short