Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0852%/8h= +93.3% APRpaid last 24h +0.246%

Price spread now: Coinbase International against SunX+0.202%7-day average +0.188% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.545%+$54 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.202%, 7d avg +0.188%

Together, before fees+0.547%+$55 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.188%, so right now this pair is about funding alone: +$26 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.545% in total (about 28.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	311.70	0.0100	pay 0.0050% / 4h	3h 47m	$1K	$1.9M	20x
Short	Coinbase International TAO-PERP-INTX	312.33	0.0952	get 0.0119% / 1h	47m 42s	$1.5M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.202%Rate

Funding earned: $178.92
Price spread: +0.202% → +0.188%: $1.39
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $162.31
Costs to cover: 0.180%
Break-even: 0.6 days

Slippage unknown: SunX: live order book, 8 min ago; Coinbase International: live order book, 1 min ago. Net counts fees only.

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 SunX live order book, 8 min ago	500.26 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	4.32 bp	9.6 bp −$10	15.8 bp −$158	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
Kraken Futures PF_TAOUSD	−0.0348%	1h	312.38	+0.218%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	312.20	+0.160%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.66	−0.012%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.16	+0.148%	$45K	$655K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.94	+0.077%	$639	$812K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.35	+0.209%	$356K	$413K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.26	+0.179%	$89.7M	$497.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.22	+0.167%	$67.3M	$149.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.10	+0.128%	$25.9M	$120.2M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.10	+1.091%	$167K	$2K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	311.90	+0.064%	$13.0M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.10	+0.128%	$101.1M	$144.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.30	+0.192%	$17.7M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.99	+0.093%	$34.9M	$56.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.09	+0.125%	—	$33.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.18	+0.795%	$42K	$312K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.25	+0.818%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.13	+0.138%	$81K	$867K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.96	+0.083%	$11K	$18K	20x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	311.70	long leg	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	311.20	−0.160%	$108K	$536K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.33	+0.202%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.97	+0.086%	$171K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0112%	4h	314.50	+0.899%	$533K	$955K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	311.79	+0.029%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0122%	4h	312.41	+0.228%	$1.2M	$10.4M	50x	as long as short
Paradex TAO-USD-PERP	+0.0141%	8h	312.16	+0.148%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0142% / S +0.0130%	1h	311.65	−0.017%	$416K	—	100x	as long as short
Hyperliquid TAO	+0.0146%	1h	312.57	+0.279%	$91.7M	$107.0M	5x	as long as short
Extended TAO-USD	+0.0184%	1h	312.01	+0.100%	$913K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.42	+0.231%	$101K	$391K	5x	as long as short
Nado TAO-PERP	+0.0245%	1h	312.42	+0.229%	$786K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.09	+0.125%	$4.5M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0346%	4h	312.61	+0.292%	$5.6M	$10.0M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0377%	1h	311.91	+0.068%	$21K	$1.7M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0390%	1h	312.58	+0.282%	$310K	$912K	10x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	312.25	+0.176%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0432%	1h	312.64	+0.302%	$1.5M	$6.4M	5x	as long as short
Phoenix TAO	+0.0457%	1h	313.90	+0.706%	$312K	$711K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.24	+0.174%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.15	+0.146%	$432K	$650K	5x	as long as short
Coinbase International TAO-PERP-INTXshort	+0.0952%	1h	312.33	+0.202%	$1.5M	$6.6M	50x
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+1.822%	$23K	$2K	12x	as long as short