Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0035%/8h= +3.9% APRpaid last 24h +0.032%

Price spread now: Aster against Arcus−0.145%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Arcus Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.129%+$13 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.145%, 7d avg −0.033%

Together, before fees+0.238%+ Points / potential airdropAster: Stage 5 · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.112% cheaper against Arcus than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of −0.033%). If the spread goes back, that is −$11 on $10k: about 11 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.129% in total) that is about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	321.48	0.0201	pay 0.0025% / 1h	34m 12s	$85K	$550K	5x
Short	Aster TAOUSDT	321.01	0.0237	get 0.0118% / 4h	3h 34m	$1.1M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Arcus. 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 ArcusbpFee AsterbpOrdersPrice spread, now −0.145%Rate

Funding earned: $7.41
Price spread: −0.145% → −0.033%: −$11.19
Slippage, 4 orders: −$32.11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$48.39
Costs to cover: 0.446%
Break-even: 52.7 days

Slippage from Arcus: live order book, 40 min ago; Aster: live order book, 5 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 Arcus live order book, 40 min ago	8.66 bp	11.4 bp −$11	21.4 bp −$214	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	1.73 bp	7.7 bp −$8	25.7 bp −$257	696.7 bp −$69.7K	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	−0.1322%	1h	319.84	−0.510%	$170K	$44K	10x	as long as short
Phemex TAOUSDT	−0.1078%	4h	319.49	−0.619%	$3.4M	$7.9M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	320.67	−0.252%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.34	−0.665%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.41	−0.333%	$42K	$587K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.58	−0.591%	$92.1M	$446.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.70	−0.554%	$26.2M	$108.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.60	−0.585%	$13.0M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.60	−0.585%	$108.1M	$134.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.60	−0.585%	$18.2M	$29.1M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	319.51	−0.613%	$35.7M	$50.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.20	−1.019%	$40K	$292K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.52	−1.542%	$524K	$960K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	319.55	−0.600%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.38	−0.653%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.62	−0.579%	$128K	$424K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.80	−0.523%	$176K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	320.43	−0.327%	$2K	$616K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0135%	1h	319.58	−0.590%	$18K	$1.6M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0089%	1h	319.27	−0.689%	$466K	—	100x	as long as short
Bullet TAO-USD	+0.0177%	1h	319.84	−0.510%	$12K	$18K	20x	as long as short
Pacifica TAO	+0.0185%	1h	321.07	−0.127%	$380K	$374K	10x	as long as short
Arcus TAO-USDlong	+0.0201%	1h	321.48	long leg	$85K	$550K	5x
Aster TAOUSDTshort	+0.0237%	4h	321.01	−0.145%	$1.1M	$8.3M	50x
Paradex TAO-USD-PERP	+0.0243%	8h	321.22	−0.081%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	319.99	−0.463%	$4.5M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0344%	1h	319.23	−0.700%	$48K	$266K	50x	as long as short
Polymarket Perps TAO-USD	+0.0349%	1h	320.24	−0.386%	$94K	$638K	5x	as long as short
Variational Omni TAO	+0.0398%	4h	320.33	−0.359%	$5.6M	$8.7M	—	as long as short
BingX TAO-USDT	+0.0428%	4h	319.62	−0.579%	—	$30.5M	—	as long as short
Bybit TAOUSDT	+0.0450%	4h	319.87	−0.501%	$65.7M	$132.9M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0479%	1h	319.72	−0.548%	$5.8M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.50	−1.238%	$332K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	319.79	−0.526%	$23K	$666	12x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	321.22	−0.081%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	319.63	−0.576%	$368	—	20x	as long as short
Nado TAO-PERP	+0.0757%	1h	319.71	−0.551%	$893K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0894%	1h	319.95	−0.476%	$323K	$819K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	320.73	−0.233%	$1.5M	$6.3M	50x	as long as short
Extended TAO-USD	+0.1136%	1h	319.71	−0.550%	$936K	$2.2M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	321.13	−0.109%	$427K	$600K	5x	as long as short
Lighter TAO	+0.1488%	1h	320.15	−0.412%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2361%	1h	320.48	−0.311%	$103.6M	$90.7M	5x	as long as short