Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: HTX against Polymarket Perps+0.031%7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1341.338% of the position

Long on Polymarket Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.031%, 7d avg −0.092%

Together, before fees+0.044%+$4 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: HTX is 0.123% dearer against Polymarket Perps than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TAO-USD	322.94	0.0100	pay 0.0013% / 1h	56m 36s	$89K	$1.1M	5x
Short	HTX TAO-USDT	323.04	0.0100	get 0.0050% / 4h	2h 56m	$118K	$554K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Polymarket Perps. 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 Polymarket PerpsbpFee HTXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → −0.092%: $12.31
Slippage, 4 orders: −$113.84
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$121.53
Costs to cover: 1.338%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; HTX: live order book, 37 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 Polymarket Perps live order book, 2 min ago	5.59 bp	9.6 bp −$10	20.6 bp −$206	doesn't fit	doesn't fit
Sell HTX live order book, 37 min ago	16.57 bp	22.8 bp −$23	doesn't fit	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
Bulk TAO-USD	−0.0985%	1h	321.65	−0.399%	$171K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	+0.393%	$20K	—	150x	as long as short
Bybit TAOUSDT	+0.0100%	4h	323.01	+0.022%	$71.0M	$155.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	322.90	−0.012%	$27.0M	$131.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.50	−0.136%	$15.4M	$47.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.76	−0.056%	$17.6M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.56	−0.118%	$36.4M	$56.7M	50x	as long as short
Polymarket Perps TAO-USDlong	+0.0100%	1h	322.94	long leg	$89K	$1.1M	5x
SunX TAO-USDT	+0.0100%	4h	322.84	−0.031%	$2K	$1.9M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	323.04	+0.031%	$118K	$554K	20x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	322.86	−0.025%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0115%	8h	322.67	−0.084%	$1K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	323.17	+0.073%	$177K	$998	3x	as long as short
MEXC TAO_USDT	+0.0154%	4h	323.03	+0.028%	$107.1M	$149.1M	300x	as long as short
Binance TAOUSDT	+0.0156%	4h	322.84	−0.031%	$95.0M	$519.7M	75x	as long as short
BingX TAO-USDT	+0.0158%	4h	322.94	0.000%	—	$39.0M	—	as long as short
edgeX TAOUSDC	+0.0158%	4h	323.48	+0.167%	$43K	$321K	10x	as long as short
Paradex TAO-USD-PERP	+0.0225%	8h	323.01	+0.020%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0247%	4h	323.26	+0.099%	$54K	$274K	10x	as long as short
Popdex TAOUSDT	+0.0256%	1h	322.85	−0.028%	$50K	$703K	20x	as long as short
Extended TAO-USD	+0.0288%	1h	322.84	−0.030%	$973K	$2.2M	25x	as long as short
Pacifica TAO	+0.0301%	1h	322.98	+0.014%	$376K	$439K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0304%	4h	323.87	+0.287%	$550K	$826K	10x	as long as short
Aster TAOUSDT	+0.0320%	4h	322.94	0.000%	$1.3M	$11.2M	50x	as long as short
Arcus TAO-USD	+0.0364%	1h	323.20	+0.081%	$102K	$329K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0369% / S −0.0109%	1h	323.08	+0.043%	$383K	—	100x	as long as short
ApeX Omni TAOUSDT	+0.0392%	1h	323.88	+0.291%	$46K	$256K	50x	as long as short
BloFin TAO-USDT	+0.0396%	4h	323.31	+0.115%	$4.9M	$11.0M	100x	as long as short
Lighter TAO	+0.0456%	1h	323.05	+0.033%	$1.6M	$6.6M	5x	as long as short
Nado TAO-PERP	+0.0515%	1h	322.94	+0.002%	$740K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0522%	4h	323.77	+0.255%	$5.7M	$9.8M	—	as long as short
Phoenix TAO	+0.0578%	1h	323.80	+0.266%	$326K	$712K	5x	as long as short
Bullet TAO-USD	+0.0583%	1h	323.01	+0.023%	$13K	$17K	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0672%	1h	323.45	+0.158%	$6.3M	$20.9M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	322.85	−0.027%	$371	—	20x	as long as short
RISEx TAO/USDC	+0.0701%	1h	322.74	−0.062%	$446K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	323.28	+0.105%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0796%	1h	323.22	+0.087%	$301K	$1.1M	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	322.51	−0.133%	$1.1M	$7.5M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0865%	1h	323.31	+0.113%	$20K	$1.9M	25x	as long as short
dYdX TAO-USD	+0.1078%	1h	321.77	−0.362%	$271K	$232K	5x	as long as short
Hyperliquid TAO	+0.1244%	1h	323.26	+0.099%	$97.7M	$110.1M	5x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	327.96	+1.554%	$24K	$2K	12x	as long as short