Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: KuCoin against Popdex−0.041%7-day average +0.005% · 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−$58as in the Price arb table

costs, in and out, $10k−$540.535% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.041%, 7d avg +0.005%

Together, before fees+0.053%+$5 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: KuCoin is 0.045% cheaper against Popdex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	318.70	0.0096	pay 0.0012% / 1h	5m 56s	$49K	$716K	20x
Short	KuCoin TAOUSDTM	318.57	0.0100	get 0.0050% / 4h	5m 56s	$17.9M	$32.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0.84
Price spread: −0.041% → +0.005%: −$4.54
Slippage, 4 orders: −$35.11
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$57.21
Costs to cover: 0.535%
Break-even: 483.8 days

Slippage from Popdex: live order book, 33 min ago; KuCoin: 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, 33 min ago	2.21 bp	10.1 bp −$10	72.5 bp −$725	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.72 bp	16.1 bp −$16	33.9 bp −$339	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	318.24	−0.144%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0065%	1h	318.55	−0.047%	$128K	$86K	5x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	318.70	long leg	$49K	$716K	20x
OKX TAO-USDT-SWAP	+0.0100%	8h	318.70	0.000%	$26.5M	$132.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.40	−0.094%	$14.8M	$52.4M	50x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	318.57	−0.041%	$17.9M	$32.5M	75x
Bitget TAOUSDT	+0.0100%	4h	318.42	−0.088%	$35.9M	$58.1M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.50	−0.063%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.38	−0.100%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.61	−0.028%	$117K	$592K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX TAO/USD [WBTC.b-USDC]	L +0.0103% / S +0.0138%	1h	318.40	−0.093%	$411K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	318.64	−0.019%	$652	$1.2M	5x	as long as short
ApeX Omni TAOUSDT	+0.0121%	1h	319.65	+0.298%	$46K	$259K	50x	as long as short
Aevo TAO-PERP	+0.0128%	1h	318.81	+0.033%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0180%	4h	318.57	−0.041%	$52K	$295K	10x	as long as short
edgeX TAOUSDC	+0.0189%	4h	319.75	+0.328%	$42K	$319K	10x	as long as short
Binance TAOUSDT	+0.0192%	4h	318.69	−0.002%	$93.2M	$533.6M	75x	as long as short
MEXC TAO_USDT	+0.0194%	4h	318.64	−0.019%	$104.2M	$152.9M	300x	as long as short
Bulk TAO-USD	+0.0217%	1h	317.92	−0.243%	$169K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0264%	8h	318.83	+0.039%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0278%	4h	318.53	−0.053%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0285%	4h	318.84	+0.044%	$70.1M	$157.3M	50x	as long as short
Bullet TAO-USD	+0.0305%	1h	318.56	−0.044%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	318.89	+0.060%	$374K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	319.67	+0.303%	$544K	$896K	10x	as long as short
Aster TAOUSDT	+0.0353%	4h	318.69	−0.003%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0392%	1h	318.67	−0.011%	$906K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0435%	4h	319.14	+0.138%	$4.7M	$11.0M	100x	as long as short
Phemex TAOUSDT	+0.0447%	4h	318.55	−0.047%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0471%	1h	318.59	−0.034%	$779K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	319.01	+0.097%	$100K	$384K	5x	as long as short
Variational Omni TAO	+0.0568%	4h	319.84	+0.358%	$5.6M	$10.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0601%	1h	318.62	−0.026%	$15K	$1.9M	25x	as long as short
Phoenix TAO	+0.0629%	1h	319.90	+0.377%	$322K	$703K	5x	as long as short
Lighter TAO	+0.0648%	1h	318.98	+0.088%	$1.6M	$6.9M	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	319.00	+0.094%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0697%	1h	318.70	0.000%	$94.3M	$110.1M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	318.55	−0.046%	$366	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0713%	1h	318.82	+0.038%	$440K	$981K	10x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.62	−0.024%	$452K	$662K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0831%	1h	318.79	+0.028%	$6.0M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.76	+0.333%	$1.3M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.44	+1.174%	$23K	$2K	12x	as long as short