Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.071%

Price spread now: BloFin against Aevo−0.755%53s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1201.201% of the position

Long on Aevo Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.390%+$39 on $10k

Price spread, last 3 days (all we have)+0.763%+$76 · spread now −0.755%, 7d avg −0.014%

Together, before fees+1.152%+$115 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.741% cheaper against Aevo than usual: you would sell low and buy high (spread −0.755% now, against its 7-day average of −0.014%). If the spread goes back, that is −$74 on $10k: about 10 days of funding at the current rate (+$7 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	321.87	0.0104	pay 0.0013% / 1h	51m 36s	$177K	$998	3x
Short	BloFin TAO-USDT	319.44	0.0340	get 0.0170% / 4h	3h 51m	$4.4M	$10.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Aevo. 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 AevobpFee BloFinbpOrdersPrice spread, now −0.755%Rate

Funding earned: $49.56
Price spread: −0.755% → −0.014%: −$74.08
Slippage, 4 orders: −$92.14
Fee Aevo: 8 bp × 2 orders: −$16
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$144.66
Costs to cover: 1.201%
Break-even: 27.4 days

Slippage from Aevo: live order book, 22 min ago; BloFin: live order book, 2 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 Aevo live order book, 22 min ago	34.18 bp	48.7 bp −$49	299.5 bp −$2,995	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	1.41 bp	8.8 bp −$9	15.6 bp −$156	35.4 bp −$3,543	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	−0.1799%	1h	311.96	−3.079%	$167K	$44K	10x	as long as short
Phemex TAOUSDT	−0.1370%	4h	320.20	−0.519%	$3.5M	$7.9M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	320.40	−0.457%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.92	−0.295%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.80	−0.643%	$42K	$578K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	319.79	−0.646%	$654	$594K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.90	−0.612%	$92.0M	$440.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.20	−0.519%	$26.0M	$107.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.70	−0.674%	$12.9M	$49.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	320.20	−0.519%	$105.6M	$131.6M	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	320.62	−0.388%	$19.0M	$28.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.36	−0.780%	$35.7M	$48.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.79	−0.956%	$36K	$288K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	318.51	−1.044%	$48K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	320.51	−0.423%	$58K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	320.29	−0.491%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.60	−0.395%	$128K	$422K	20x	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	321.87	long leg	$177K	$998	3x
GRVT TAO_USDT_Perp	+0.0168%	4h	320.12	−0.544%	$532K	$945K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0085%	1h	320.79	−0.336%	$464K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	320.52	−0.421%	$379K	$371K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.66	−0.687%	$84K	$545K	5x	as long as short
Aster TAOUSDT	+0.0222%	4h	320.30	−0.488%	$1.1M	$8.1M	50x	as long as short
Paradex TAO-USD-PERP	+0.0226%	8h	320.04	−0.568%	$15K	$1K	10x	as long as short
Bullet TAO-USD	+0.0262%	1h	321.12	−0.233%	$12K	$17K	20x	as long as short
Variational Omni TAO	+0.0291%	4h	319.01	−0.888%	$5.5M	$8.6M	—	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	319.44	−0.755%	$4.4M	$10.9M	100x
Deribit TAO_USDC-PERPETUAL	+0.0341%	1h	320.38	−0.463%	$22K	$1.5M	25x	as long as short
Polymarket Perps TAO-USD	+0.0362%	1h	320.70	−0.364%	$100K	$633K	5x	as long as short
BingX TAO-USDT	+0.0386%	4h	319.46	−0.749%	—	$30.7M	—	as long as short
Kraken Futures PF_TAOUSD	+0.0479%	1h	320.34	−0.475%	$5.8M	$20.2M	50x	as long as short
Phoenix TAO	+0.0525%	1h	319.30	−0.798%	$334K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.85	−1.249%	$23K	$370	12x	as long as short
Bybit TAOUSDT	+0.0636%	4h	320.29	−0.491%	$65.9M	$130.2M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	320.25	−0.503%	$368	—	20x	as long as short
Nado TAO-PERP	+0.0762%	1h	320.36	−0.471%	$892K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0832%	1h	320.08	−0.556%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	320.83	−0.323%	$1.5M	$6.1M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1021%	1h	320.77	−0.342%	$320K	$820K	10x	as long as short
Extended TAO-USD	+0.1032%	1h	319.27	−0.809%	$933K	$2.2M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	319.39	−0.770%	$422K	$586K	5x	as long as short
Lighter TAO	+0.1880%	1h	321.34	−0.163%	$1.7M	$5.9M	5x	as long as short
Hyperliquid TAO	+0.2925%	1h	321.18	−0.214%	$105.0M	$88.6M	5x	as long as short