Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.001%

Price spread now: Popdex against SunX+0.207%7-day average +0.002% · you sell dearer than you buy

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

Long on SunX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.233%−$23 · spread now +0.207%, 7d avg +0.002%

Together, before fees−0.239%−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Popdex is 0.205% dearer against SunX than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	323.21	0.0100	pay 0.0050% / 4h	2h 04m	$1K	$2.0M	20x
Short	Popdex TAOUSDT	323.88	0.0112	get 0.0014% / 1h	4m 04s	$42K	$686K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.207%Rate

Funding earned: $2.52
Price spread: +0.207% → +0.002%: $20.5
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $8.62
Costs to cover: 0.144%
Break-even: from the start

Slippage unknown: SunX: live order book, 2 min ago; Popdex: live order book, 45 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	500.12 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 45 min ago	0.96 bp	9.0 bp −$9	74.9 bp −$749	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
Bulk TAO-USD	−0.1195%	1h	319.01	−1.298%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.31	+0.032%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0028%	1h	323.34	+0.041%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.30	+0.028%	$26.9M	$128.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.90	−0.096%	$14.2M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.59	+0.118%	$17.8M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.40	+0.059%	$36.5M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.67	+0.142%	$81K	$968K	5x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	323.21	long leg	$1K	$2.0M	20x
HTX TAO-USDT	+0.0100%	4h	323.35	+0.043%	$118K	$566K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.11	−0.031%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	323.57	+0.111%	$2K	$959K	5x	as long as short
Popdex TAOUSDTshort	+0.0112%	1h	323.88	+0.207%	$42K	$686K	20x
Aevo TAO-PERP	+0.0112%	1h	323.71	+0.156%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	323.57	+0.111%	$53K	$291K	10x	as long as short
edgeX TAOUSDC	+0.0123%	4h	321.43	−0.552%	$42K	$316K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0142%	1h	323.31	+0.030%	$435K	—	100x	as long as short
MEXC TAO_USDT	+0.0134%	4h	323.21	0.000%	$103.4M	$149.1M	300x	as long as short
Binance TAOUSDT	+0.0144%	4h	323.36	+0.048%	$93.4M	$517.5M	75x	as long as short
Pacifica TAO	+0.0233%	1h	323.82	+0.190%	$368K	$421K	10x	as long as short
Nado TAO-PERP	+0.0288%	1h	323.67	+0.142%	$817K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0294%	1h	323.65	+0.136%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0299%	8h	324.05	+0.261%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0300%	4h	323.50	+0.089%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USD	+0.0325%	1h	323.67	+0.142%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0375%	4h	322.90	−0.096%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	323.14	−0.022%	—	$34.0M	—	as long as short
Bybit TAOUSDT	+0.0446%	4h	323.54	+0.102%	$70.9M	$154.5M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.370%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	323.84	+0.195%	$111K	$377K	5x	as long as short
Extended TAO-USD	+0.0496%	1h	323.44	+0.071%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	+0.090%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	+0.114%	$5.7M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0529%	1h	321.20	−0.622%	$47K	$257K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0586%	1h	323.60	+0.120%	$25K	$1.9M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	323.32	+0.034%	$372	—	20x	as long as short
Lighter TAO	+0.0808%	1h	323.70	+0.153%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0811%	1h	323.31	+0.031%	$95.4M	$109.5M	5x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	324.52	+0.405%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0852%	1h	323.20	−0.003%	$320K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	324.00	+0.244%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.65	+0.136%	$465K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.127%	$24K	$2K	12x	as long as short