Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against Aevo+0.119%50s7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as 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−$1301.298% of the position

Long on Aevo Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 3 days (all we have)−0.145%−$14 · spread now +0.119%, 7d avg −0.065%

Together, before fees−0.198%−$20 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: OKX is 0.183% dearer against Aevo than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.065%. The two prices were read 50 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	312.93	0.0104	pay 0.0013% / 1h	44m 39s	$172K	$998	3x
Short	OKX TAO-USDT-SWAP	313.30	0.0100	get 0.0100% / 8h	44m 39s	$25.1M	$100.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.119%Rate

Funding earned: −$0.84
Price spread: +0.119% → −0.065%: $18.35
Slippage, 4 orders: −$103.75
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$112.24
Costs to cover: 1.298%
Break-even: never at this rate

Slippage from Aevo: live order book, 34 min ago; OKX: live order book, 4 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, 34 min ago	38.86 bp	55.6 bp −$56	295.0 bp −$2,950	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.60 bp	9.7 bp −$10	15.2 bp −$152	52.5 bp −$5,253	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	−0.4722%	1h	314.01	+0.346%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.82	−0.035%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.55	−0.122%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.467%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.94	+0.323%	$40K	$550K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.41	+0.153%	$371K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.58	+0.208%	$88.8M	$423.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.50	+0.182%	$61.4M	$123.6M	50x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	313.30	+0.119%	$25.1M	$100.3M	50x
Gate TAO_USDT	+0.0100%	4h	313.10	+0.055%	$12.7M	$49.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.40	+0.150%	$119.9M	$127.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.10	+0.055%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.12	+0.061%	$35.0M	$46.3M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.36	+0.138%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.65	+0.229%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.17	+0.398%	$519K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.82	−0.035%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.67	−0.083%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.92	−0.003%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.93	0.000%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	312.93	long leg	$172K	$998	3x
Katana Perps TAO-USD	+0.0110%	8h	313.74	+0.259%	$830	$539K	5x	as long as short
Polymarket Perps TAO-USD	+0.0137%	1h	312.93	0.000%	$77K	$522K	5x	as long as short
Bullet TAO-USD	+0.0150%	1h	312.91	−0.007%	$11K	$17K	20x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.79	+0.275%	$83K	$626K	5x	as long as short
Variational Omni TAO	+0.0188%	4h	313.49	+0.178%	$3.9M	$7.0M	—	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	313.40	+0.149%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0205%	4h	313.28	+0.112%	$1.1M	$7.8M	50x	as long as short
ApeX Omni TAOUSDT	+0.0212%	1h	314.14	+0.387%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.23	−0.223%	$4.3M	$9.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.84	−0.030%	$5.8M	$19.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0473%	1h	312.86	−0.021%	$18K	$1.4M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.57	−0.115%	$448K	—	100x	as long as short
Nado TAO-PERP	+0.0532%	1h	312.99	+0.019%	$833K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	−0.105%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0575%	1h	313.50	+0.182%	$301K	$799K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.79	−0.046%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	314.11	+0.377%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	313.31	+0.120%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.29	+0.115%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.89	+0.306%	$432K	$536K	5x	as long as short
Lighter TAO	+0.1472%	1h	313.60	+0.214%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2107%	1h	313.76	+0.266%	$98.3M	$82.9M	5x	as long as short