Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0140%/8h= −15.4% APRpaid last 24h −0.027%

Price spread now: HTX against Pacifica−0.196%7-day average −0.115% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1411.415% of the position

Long on Pacifica Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.196%, 7d avg −0.115%

Together, before fees+0.037%+ Points / potential airdropPacifica: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and HTX is 0.081% cheaper against Pacifica than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.115%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	316.06	0.0240	pay 0.0030% / 1h	46m 54s	$374K	$456K	10x
Short	HTX TAO-USDT	315.44	0.0100	get 0.0050% / 4h	1h 46m	$112K	$564K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.196%Rate

Funding earned: −$29.5
Price spread: −0.196% → −0.115%: −$8.13
Slippage, 4 orders: −$121.45
Fee Pacifica: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$179.09
Costs to cover: 1.415%
Break-even: never at this rate

Slippage from Pacifica: live order book, 64 min ago; HTX: live order book, 64 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, 64 min ago	2.67 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 64 min ago	12.58 bp	40.3 bp −$40	doesn't fit	doesn't fit	doesn't fit

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	315.39	−0.210%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.80	−0.082%	$50K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	−0.019%	$26.8M	$128.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.80	−0.082%	$15.7M	$47.5M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.96	−0.032%	$17.5M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.80	−0.082%	$35.8M	$56.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.75	+0.218%	$45K	$253K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.50	−0.177%	$81K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.36	−0.221%	$2K	$1.8M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	315.44	−0.196%	$112K	$564K	20x

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0104%	8h	315.52	−0.171%	$890	$1.3M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	315.76	−0.093%	$173K	$998	3x	as long as short
Bybit TAOUSDT	+0.0126%	4h	316.19	+0.041%	$69.2M	$155.7M	50x	as long as short
MEXC TAO_USDT	+0.0134%	4h	316.12	+0.019%	$106.0M	$147.6M	300x	as long as short
Binance TAOUSDT	+0.0136%	4h	316.10	+0.014%	$93.0M	$511.1M	75x	as long as short
BingX TAO-USDT	+0.0140%	4h	316.06	0.000%	—	$38.0M	—	as long as short
edgeX TAOUSDC	+0.0141%	4h	316.70	+0.203%	$42K	$324K	10x	as long as short
Lighter TAO	+0.0176%	1h	315.82	−0.077%	$1.6M	$6.6M	5x	as long as short
Phemex TAOUSDT	+0.0200%	4h	315.75	−0.098%	$3.2M	$8.1M	50x	as long as short
Paradex TAO-USD-PERP	+0.0203%	8h	315.99	−0.024%	$14K	$876	10x	as long as short
Extended TAO-USD	+0.0208%	1h	315.98	−0.026%	$954K	$2.1M	25x	as long as short
Pacifica TAOlong	+0.0240%	1h	316.06	long leg	$374K	$456K	10x
GRVT TAO_USDT_Perp	+0.0248%	4h	315.96	−0.033%	$539K	$805K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0255%	4h	315.64	−0.133%	$53K	$262K	10x	as long as short
Bullet TAO-USD	+0.0263%	1h	315.74	−0.102%	$12K	$16K	20x	as long as short
Aster TAOUSDT	+0.0301%	4h	316.08	+0.006%	$1.2M	$11.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0359% / S −0.0107%	1h	315.34	−0.227%	$371K	—	100x	as long as short
BloFin TAO-USDT	+0.0376%	4h	315.91	−0.047%	$4.9M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0393%	1h	315.74	−0.100%	$694K	$2.0M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0404%	1h	315.68	−0.121%	$15K	$1.9M	25x	as long as short
Variational Omni TAO	+0.0444%	4h	316.43	+0.118%	$5.7M	$9.8M	—	as long as short
Hyperliquid TAO	+0.0485%	1h	315.93	−0.041%	$95.0M	$107.1M	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	316.17	+0.035%	$100K	$310K	5x	as long as short
01 Exchange TAOUSD	+0.0616%	1h	315.86	−0.063%	$3K	$2K	5x	as long as short
Phoenix TAO	+0.0650%	1h	316.90	+0.266%	$319K	$710K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0663%	1h	315.87	−0.060%	$297K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	315.77	−0.092%	$436K	$672K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	316.00	−0.019%	$1.1M	$7.6M	50x	as long as short
dYdX TAO-USD	+0.0696%	1h	315.77	−0.092%	$266K	$230K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	315.58	−0.151%	$363	—	20x	as long as short
Bulk TAO-USD	+0.0807%	1h	318.75	+0.851%	$169K	$0	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0933%	1h	315.81	−0.079%	$6.2M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	320.28	+1.335%	$23K	$2K	12x	as long as short