Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0217%/8h= −23.8% APRpaid last 24h +0.037%

Price spread now: BloFin against Arcus0.000%7-day average −0.059% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.232%+$23 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now 0.000%, 7d avg −0.059%

Together, before fees+0.252%+$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.059% dearer against Arcus than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.059%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 4 days funding on this pair paid +0.232%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	314.86	0.0610	pay 0.0076% / 1h	5m 12s	$99K	$312K	5x
Short	BloFin TAO-USDT	314.86	0.0393	get 0.0196% / 4h	1h 05m	$4.9M	$10.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$45.57
Price spread: 0.000% → −0.059%: $5.85
Slippage, 4 orders: −$23.28
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$79.5
Costs to cover: 0.398%
Break-even: never at this rate

Slippage from Arcus: live order book, 41 min ago; BloFin: live order book, 7 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, 41 min ago	5.06 bp	14.0 bp −$14	29.1 bp −$291	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	1.91 bp	8.7 bp −$9	13.8 bp −$138	26.9 bp −$2,694	doesn't fit

TAO on 43 exchanges

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	314.20	−0.210%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.75	−0.035%	$54K	$634K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	−0.051%	$26.8M	$126.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.40	−0.146%	$16.1M	$48.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.75	−0.035%	$17.4M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.44	−0.133%	$35.6M	$55.3M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.02	+0.051%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.70	−0.051%	$69K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.52	−0.108%	$2K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.29	−0.181%	$112K	$547K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0102%	8h	314.48	−0.121%	$2K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	314.61	−0.079%	$947K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0120%	1h	314.81	−0.015%	$173K	$998	3x	as long as short
MEXC TAO_USDT	+0.0152%	4h	314.65	−0.067%	$110.6M	$150.7M	300x	as long as short
edgeX TAOUSDC	+0.0152%	4h	314.18	−0.214%	$42K	$324K	10x	as long as short
Binance TAOUSDT	+0.0155%	4h	314.91	+0.015%	$93.3M	$510.5M	75x	as long as short
Lighter TAO	+0.0232%	1h	314.97	+0.035%	$1.5M	$6.8M	5x	as long as short
Pacifica TAO	+0.0240%	1h	314.50	−0.116%	$372K	$455K	10x	as long as short
Phemex TAOUSDT	+0.0247%	4h	314.71	−0.048%	$3.2M	$8.2M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0256%	4h	314.85	−0.003%	$535K	$786K	10x	as long as short
BingX TAO-USDT	+0.0264%	4h	314.73	−0.041%	—	$37.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0267%	8h	314.40	−0.147%	$14K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0268%	4h	314.63	−0.073%	$53K	$262K	10x	as long as short
Bybit TAOUSDT	+0.0297%	4h	315.00	+0.044%	$69.3M	$155.1M	50x	as long as short
Bullet TAO-USD	+0.0308%	1h	314.74	−0.037%	$12K	$16K	20x	as long as short
Aster TAOUSDT	+0.0319%	4h	314.92	+0.019%	$1.2M	$11.4M	50x	as long as short
Nado TAO-PERP	+0.0347%	1h	314.77	−0.028%	$670K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0359% / S −0.0107%	1h	314.52	−0.108%	$369K	—	100x	as long as short
BloFin TAO-USDTshort	+0.0393%	4h	314.86	0.000%	$4.9M	$10.5M	100x
dYdX TAO-USD	+0.0403%	1h	314.17	−0.221%	$265K	$230K	5x	as long as short
Hyperliquid TAO	+0.0533%	1h	314.88	+0.006%	$94.4M	$104.9M	5x	as long as short
Variational Omni TAO	+0.0539%	4h	314.94	+0.026%	$5.8M	$9.9M	—	as long as short
01 Exchange TAOUSD	+0.0608%	1h	315.16	+0.095%	$3K	$2K	5x	as long as short
Arcus TAO-USDlong	+0.0610%	1h	314.86	long leg	$99K	$312K	5x
Phoenix TAO	+0.0650%	1h	315.00	+0.044%	$317K	$710K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0655%	1h	314.65	−0.066%	$30K	$1.9M	25x	as long as short
RISEx TAO/USDC	+0.0666%	1h	314.52	−0.108%	$439K	$655K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	315.38	+0.165%	$1.1M	$7.5M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	314.71	−0.048%	$362	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0758%	1h	314.70	−0.051%	$296K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.0916%	1h	314.85	−0.005%	$167K	$662	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0936%	1h	314.87	+0.002%	$6.3M	$19.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	319.29	+1.407%	$23K	$2K	12x	as long as short