Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Gate against Popdex+0.051%7-day average −0.032% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$580.582% of the position

Long on Popdex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.051%, 7d avg −0.032%

Together, before fees−0.042%−$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: Gate is 0.083% dearer against Popdex than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	312.94	0.0096	pay 0.0012% / 1h	45m 07s	$40K	$549K	20x
Short	Gate TAO_USDT	313.10	0.0100	get 0.0050% / 4h	45m 07s	$12.7M	$49.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.051%Rate

Funding earned: $0.84
Price spread: +0.051% → −0.032%: $8.31
Slippage, 4 orders: −$36.76
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$49.01
Costs to cover: 0.582%
Break-even: 415.4 days

Slippage from Popdex: live order book, 34 min ago; Gate: live order book, 4 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, 34 min ago	3.43 bp	10.9 bp −$11	73.0 bp −$730	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.19 bp	14.5 bp −$14	28.1 bp −$281	63.7 bp −$6,367	111.0 bp −$55.5K

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	−0.4722%	1h	314.01	+0.342%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.51	−0.137%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.55	−0.126%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.463%	$23K	$260	12x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	312.94	long leg	$40K	$549K	20x
Pacifica TAO	+0.0100%	1h	312.88	−0.019%	$370K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.95	+0.005%	$88.6M	$423.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.55	+0.195%	$61.4M	$123.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.40	+0.147%	$25.1M	$100.3M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	313.10	+0.051%	$12.7M	$49.1M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.40	+0.147%	$119.9M	$127.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.90	−0.013%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.21	+0.086%	$35.0M	$46.3M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.36	+0.134%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.65	+0.226%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.17	+0.394%	$519K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.82	−0.038%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.67	−0.086%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.92	−0.006%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.93	−0.003%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.93	−0.003%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	312.89	−0.016%	$828	$539K	5x	as long as short
Polymarket Perps TAO-USD	+0.0137%	1h	312.93	−0.003%	$77K	$522K	5x	as long as short
Bullet TAO-USD	+0.0150%	1h	312.91	−0.010%	$11K	$17K	20x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.20	+0.083%	$83K	$626K	5x	as long as short
Paradex TAO-USD-PERP	+0.0187%	8h	312.83	−0.036%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0188%	4h	313.49	+0.174%	$3.9M	$7.0M	—	as long as short
Aster TAOUSDT	+0.0206%	4h	312.81	−0.040%	$1.1M	$7.8M	50x	as long as short
ApeX Omni TAOUSDT	+0.0212%	1h	314.14	+0.383%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.23	−0.227%	$4.3M	$9.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.84	−0.033%	$5.8M	$19.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0473%	1h	312.86	−0.025%	$18K	$1.4M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.57	−0.118%	$448K	—	100x	as long as short
Nado TAO-PERP	+0.0532%	1h	312.99	+0.015%	$833K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	−0.109%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0575%	1h	313.50	+0.179%	$301K	$799K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.79	−0.049%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	313.23	+0.093%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	312.84	−0.033%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.29	+0.112%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.11	+0.055%	$431K	$536K	5x	as long as short
Lighter TAO	+0.1472%	1h	313.29	+0.112%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2118%	1h	313.96	+0.326%	$98.3M	$82.9M	5x	as long as short