Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0292%/8h= +31.9% APRpaid last 24h +0.073%

Price spread now: BloFin against Popdex−0.146%100s7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$380.376% of the position

Long on Popdex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.270%+$27 on $10k

Price spread, last 4 days (all we have)+0.205%+$21 · spread now −0.146%, 7d avg +0.021%

Together, before fees+0.475%+$47 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.167% cheaper against Popdex than usual: you would sell low and buy high (spread −0.146% now, against its 7-day average of +0.021%). If the spread goes back, that is −$17 on $10k: about 46 hours of funding at the current rate (+$9 a day). The two prices were read 100 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	Popdex TAOUSDT	321.34	0.0096	pay 0.0012% / 1h	51m 17s	$40K	$694K	20x
Short	BloFin TAO-USDT	320.87	0.0388	get 0.0194% / 4h	1h 51m	$4.7M	$11.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Popdex. 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 PopdexbpFee BloFinbpOrdersPrice spread, now −0.146%Rate

Funding earned: $61.27
Price spread: −0.146% → +0.021%: −$16.72
Slippage, 4 orders: −$19.22
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BloFin: 6 bp × 2 orders: −$12
Net: $6.93
Costs to cover: 0.376%
Break-even: 6.2 days

Slippage from Popdex: live order book, 58 min ago; BloFin: 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 Popdex live order book, 58 min ago	0.96 bp	7.4 bp −$7	68.8 bp −$688	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	2.65 bp	10.2 bp −$10	14.1 bp −$141	26.7 bp −$2,667	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	−0.2101%	1h	320.87	−0.146%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	320.55	−0.246%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	321.22	−0.038%	$21K	—	150x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	321.34	long leg	$40K	$694K	20x
OKX TAO-USDT-SWAP	+0.0100%	8h	321.50	+0.050%	$26.7M	$129.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.20	−0.044%	$14.2M	$51.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.21	−0.040%	$17.6M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.38	+0.012%	$36.2M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.78	−0.174%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	321.36	+0.006%	$77K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	321.25	−0.028%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.97	−0.115%	$118K	$584K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.86	−0.149%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	321.18	−0.050%	$1K	$985K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	321.42	+0.026%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	321.62	+0.087%	$53K	$292K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0123% / S +0.0155%	1h	321.17	−0.054%	$434K	—	100x	as long as short
edgeX TAOUSDC	+0.0148%	4h	320.94	−0.124%	$42K	$316K	10x	as long as short
Binance TAOUSDT	+0.0148%	4h	321.54	+0.062%	$93.8M	$525.0M	75x	as long as short
MEXC TAO_USDT	+0.0148%	4h	321.50	+0.050%	$105.5M	$149.3M	300x	as long as short
Paradex TAO-USD-PERP	+0.0265%	8h	321.09	−0.076%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0301%	4h	321.19	−0.047%	$1.3M	$10.9M	50x	as long as short
BingX TAO-USDT	+0.0366%	4h	321.56	+0.068%	—	$34.3M	—	as long as short
Bullet TAO-USD	+0.0367%	1h	321.59	+0.077%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0384%	4h	321.60	+0.081%	$70.2M	$155.7M	50x	as long as short
BloFin TAO-USDTshort	+0.0388%	4h	320.87	−0.146%	$4.7M	$11.1M	100x
GRVT TAO_USDT_Perp	+0.0420%	4h	320.79	−0.171%	$546K	$948K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	321.66	+0.100%	$914K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0506%	4h	323.50	+0.672%	$5.7M	$10.1M	—	as long as short
Pacifica TAO	+0.0525%	1h	321.24	−0.030%	$365K	$422K	10x	as long as short
Phoenix TAO	+0.0567%	1h	321.70	+0.112%	$320K	$709K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0599%	1h	320.80	−0.168%	$319K	$899K	10x	as long as short
Nado TAO-PERP	+0.0617%	1h	321.21	−0.040%	$803K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0624%	1h	321.61	+0.084%	$95.1M	$109.9M	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	321.62	+0.087%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	321.50	+0.050%	$103K	$394K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0688%	1h	321.64	+0.093%	$14K	$1.9M	25x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	321.48	+0.044%	$370	—	20x	as long as short
Lighter TAO	+0.0856%	1h	321.44	+0.030%	$1.5M	$6.6M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	321.95	+0.190%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	321.29	−0.017%	$463K	$665K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1146%	1h	322.04	+0.217%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+2.150%	$24K	$2K	12x	as long as short