Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h −0.001%

Price spread now: OKX against Arcus−0.404%7-day average −0.103% · 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−$89as in the Price arb table

costs, in and out, $10k−$590.588% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.227%+$23 · spread now −0.404%, 7d avg −0.103%

Together, before fees+0.224%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.301% cheaper against Arcus than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.103%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	314.17	0.0201	pay 0.0025% / 1h	1m 06s	$83K	$550K	5x
Short	OKX TAO-USDT-SWAP	312.90	0.0100	get 0.0100% / 8h	7h 01m	$25.4M	$108.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.404%Rate

Funding earned: −$21.28
Price spread: −0.404% → −0.103%: −$30.09
Slippage, 4 orders: −$44.25
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$110.12
Costs to cover: 0.588%
Break-even: never at this rate

Slippage from Arcus: live order book, 8 min ago; OKX: live order book, 3 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, 8 min ago	8.37 bp	14.8 bp −$15	27.7 bp −$277	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.59 bp	10.6 bp −$11	22.7 bp −$227	67.4 bp −$6,741	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	−0.1228%	1h	316.14	+0.627%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.92	−0.080%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	313.53	−0.205%	$12K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0037%	1h	313.45	−0.229%	$16K	$1.5M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.76	−0.131%	$42K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.98	−0.380%	$89.9M	$453.3M	75x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	312.90	−0.404%	$25.4M	$108.2M	50x
Gate TAO_USDT	+0.0100%	4h	312.80	−0.436%	$12.7M	$51.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.29	−0.280%	$100.5M	$137.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.27	−0.286%	$18.2M	$29.8M	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	312.56	−0.512%	$34.8M	$51.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.16	+0.315%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.35	+0.694%	$524K	$958K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.60	+0.137%	$48K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.55	−0.197%	$56K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.42	−0.239%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.00	−0.054%	$125K	$422K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.05	−0.039%	$172K	$998	3x	as long as short
Bullet TAO-USD	+0.0112%	1h	313.83	−0.108%	$12K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	313.76	−0.131%	$1K	$648K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0105%	1h	313.46	−0.225%	$442K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	314.21	+0.013%	$372K	$376K	10x	as long as short
Aster TAOUSDT	+0.0191%	4h	313.42	−0.238%	$1.3M	$9.0M	50x	as long as short
Arcus TAO-USDlong	+0.0201%	1h	314.17	long leg	$83K	$550K	5x
Paradex TAO-USD-PERP	+0.0239%	8h	314.07	−0.030%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0259%	1h	313.93	−0.076%	$92K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.38	−0.251%	$4.4M	$10.7M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0489%	1h	313.40	−0.245%	$5.6M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	313.80	−0.118%	$328K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	313.96	−0.067%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	316.84	+0.850%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0606%	4h	314.06	−0.035%	$5.4M	$8.7M	—	as long as short
Phemex TAOUSDT	+0.0668%	4h	313.70	−0.150%	$3.4M	$7.8M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	313.94	−0.075%	$361	—	20x	as long as short
BingX TAO-USDT	+0.0704%	4h	312.74	−0.455%	—	$30.8M	—	as long as short
Nado TAO-PERP	+0.0749%	1h	313.98	−0.060%	$778K	$2.1M	10x	as long as short
Bybit TAOUSDT	+0.0772%	4h	313.18	−0.315%	$63.9M	$134.5M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0797%	1h	313.01	−0.369%	$316K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	314.47	+0.095%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1080%	1h	313.52	−0.207%	$910K	$2.4M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	313.82	−0.112%	$416K	$602K	5x	as long as short
Lighter TAO	+0.1432%	1h	313.96	−0.067%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1713%	1h	313.17	−0.318%	$100.2M	$91.8M	5x	as long as short