Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX−0.044%7-day average +0.012% · you buy dearer than you sell

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

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.524%−$52 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.044%, 7d avg +0.012%

Together, before fees−0.456%−$46 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: Phemex is 0.057% cheaper against SunX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	314.75	0.0100	pay 0.0050% / 4h	14m 12s	$2K	$1.9M	20x
Short	Phemex TAOUSDT	314.61	0.0100	get 0.0050% / 4h	14m 12s	$3.2M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → +0.012%: −$5.67
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$25.67
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 2 min ago; Phemex: live order book, 5 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, 2 min ago	500.38 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.11 bp	20.0 bp −$20	35.3 bp −$353	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
dYdX TAO-USD	0.0000%	1h	314.54	−0.067%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.49	−0.083%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.59	−0.051%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.84	+0.029%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.71	−0.013%	$644	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.67	−0.025%	$90.9M	$495.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.77	+0.006%	$67.7M	$148.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	−0.016%	$26.0M	$120.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.30	−0.143%	$12.9M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.60	−0.048%	$110.6M	$144.1M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.55	−0.064%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.40	−0.111%	$35.1M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.57	−0.057%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.19	+0.140%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.53	+0.249%	$522K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.11	+0.114%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.60	−0.048%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.72	−0.010%	$12K	$18K	20x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	314.75	long leg	$2K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	313.63	−0.356%	$109K	$535K	20x	as long as short
Phemex TAOUSDTshort	+0.0100%	4h	314.61	−0.044%	$3.2M	$8.1M	50x
Bulk TAO-USD	+0.0100%	1h	314.68	−0.022%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.71	−0.012%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.59	−0.051%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0145% / S +0.0122%	1h	314.46	−0.093%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0157%	8h	314.97	+0.071%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0176%	4h	314.69	−0.018%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	314.49	−0.082%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0215%	1h	314.71	−0.014%	$800K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0266%	1h	314.82	+0.024%	$92.6M	$106.5M	5x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	314.92	+0.054%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.96	+0.067%	$4.6M	$10.9M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0344%	1h	314.73	−0.006%	$315K	$913K	10x	as long as short
Lighter TAO	+0.0344%	1h	314.92	+0.054%	$1.5M	$6.5M	5x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.12	+0.118%	$99K	$438K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0354%	1h	314.62	−0.040%	$23K	$1.7M	25x	as long as short
Pacifica TAO	+0.0365%	1h	314.82	+0.023%	$359K	$412K	10x	as long as short
Variational Omni TAO	+0.0461%	4h	315.17	+0.133%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.40	+0.207%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.76	+0.002%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.85	+0.030%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.12	+0.435%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.093%	$23K	$2K	12x	as long as short