Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.004%

Price spread now: BingX against ApeX Omni+0.288%53s7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as 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−$410.409% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.563%−$56 · spread now +0.288%, 7d avg −0.035%

Together, before fees−0.558%−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.323% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.288% now, against its 7-day average of −0.035%): +$32 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 11 days. 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	ApeX Omni TAOUSDT	319.47	0.0487	pay 0.0061% / 1h	8m 36s	$47K	$257K	50x
Short	BingX TAO-USDT	320.39	0.0388	get 0.0194% / 4h	2h 08m	—	$33.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now +0.288%Rate

Funding earned: −$20.8
Price spread: +0.288% → −0.035%: $32.32
Slippage, 4 orders: −$20.86
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$29.34
Costs to cover: 0.409%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 38 min ago; BingX: live order book, 15 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 ApeX Omni live order book, 38 min ago	5.58 bp	13.0 bp −$13	111.1 bp −$1,111	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	0.79 bp	8.8 bp −$9	13.2 bp −$132	23.9 bp −$2,393	50.6 bp −$25.3K

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	−0.143%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.35	+0.274%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0030%	1h	319.84	+0.115%	$128K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.30	+0.260%	$26.7M	$126.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.20	+0.229%	$14.3M	$51.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.20	+0.229%	$17.6M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.19	+0.225%	$36.1M	$57.3M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.66	+0.372%	$81K	$946K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	320.07	+0.188%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.39	+0.288%	$117K	$563K	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	320.01	+0.169%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	320.48	+0.316%	$1K	$949K	5x	as long as short
edgeX TAOUSDC	+0.0110%	4h	319.26	−0.067%	$42K	$315K	10x	as long as short
Aevo TAO-PERP	+0.0112%	1h	320.69	+0.380%	$176K	$998	3x	as long as short
MEXC TAO_USDT	+0.0114%	4h	320.44	+0.304%	$102.1M	$148.3M	300x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	320.66	+0.372%	$53K	$291K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	320.82	+0.423%	$54K	$671K	20x	as long as short
Binance TAOUSDT	+0.0123%	4h	320.47	+0.314%	$91.9M	$514.6M	75x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0142%	1h	320.48	+0.316%	$431K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	320.50	+0.322%	$365K	$421K	10x	as long as short
Aster TAOUSDT	+0.0282%	4h	320.55	+0.338%	$1.3M	$10.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0287%	8h	320.45	+0.308%	$15K	$1K	10x	as long as short
Nado TAO-PERP	+0.0291%	1h	320.63	+0.364%	$811K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0297%	1h	320.51	+0.324%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0322%	1h	320.94	+0.460%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0354%	4h	320.11	+0.200%	$4.6M	$11.0M	100x	as long as short
BingX TAO-USDTshort	+0.0388%	4h	320.39	+0.288%	—	$33.9M	—
Bybit TAOUSDT	+0.0421%	4h	320.56	+0.341%	$70.4M	$153.9M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0440%	4h	319.60	+0.040%	$545K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	320.74	+0.398%	$103K	$358K	5x	as long as short
Variational Omni TAO	+0.0485%	4h	319.46	−0.003%	$5.6M	$10.1M	—	as long as short
ApeX Omni TAOUSDTlong	+0.0487%	1h	319.47	long leg	$47K	$257K	50x
Extended TAO-USD	+0.0504%	1h	320.32	+0.266%	$911K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	320.60	+0.354%	$319K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0633%	1h	320.64	+0.366%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	320.88	+0.441%	$369	—	20x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	321.06	+0.498%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0807%	1h	320.48	+0.316%	$94.3M	$109.3M	5x	as long as short
Lighter TAO	+0.0808%	1h	320.75	+0.401%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0841%	1h	320.20	+0.229%	$317K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	321.31	+0.576%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	320.47	+0.313%	$461K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+1.086%	$23K	$2K	12x	as long as short