Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0245%/8h= −26.9% APRpaid last 24h −0.010%

Price spread now: SunX against Arcus−0.274%7-day average −0.077% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Arcus Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.270%+$27 · spread now −0.274%, 7d avg −0.077%

Together, before fees+0.249%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and SunX is 0.197% cheaper against Arcus than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.077%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.021% in total (about -2.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	317.79	0.0345	pay 0.0043% / 1h	39m 53s	$100K	$488K	5x
Short	SunX TAO-USDT	316.92	0.0100	get 0.0050% / 4h	39m 53s	$1K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.274%Rate

Funding earned: −$51.54
Price spread: −0.274% → −0.077%: −$19.68
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$83.72
Costs to cover: 0.125%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 19 min ago; SunX: live order book, 6 min ago. Net counts fees only.

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, 19 min ago	9.98 bp	12.3 bp −$12	21.7 bp −$217	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	500.22 bp	doesn't fit	doesn't fit	doesn't fit	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	−0.0482%	1h	315.13	−0.837%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.52	−0.400%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.86	−0.293%	$21K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	316.76	−0.323%	$5.6M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.59	−0.063%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.58	−0.382%	$91.2M	$490.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.50	−0.406%	$26.0M	$120.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.50	−0.406%	$13.0M	$49.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.99	−0.252%	$106.4M	$142.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.46	−0.419%	$17.6M	$31.6M	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	316.65	−0.359%	$35.4M	$55.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.41	−0.748%	$35K	$302K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.07	−0.541%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.37	−0.132%	$90K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	317.30	−0.154%	$12K	$18K	20x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	316.92	−0.274%	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	317.05	−0.233%	$110K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.66	−0.356%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	317.25	−0.170%	$1K	$787K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.07	−0.225%	$174K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	316.10	−0.531%	$526K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	316.96	−0.261%	$57K	$275K	10x	as long as short
Bybit TAOUSDT	+0.0128%	4h	316.69	−0.346%	$68.9M	$146.7M	50x	as long as short
BingX TAO-USDT	+0.0146%	4h	316.85	−0.296%	—	$30.1M	—	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0151% / S +0.0122%	1h	316.99	−0.251%	$422K	—	100x	as long as short
Nado TAO-PERP	+0.0162%	1h	317.42	−0.116%	$809K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0188%	8h	316.66	−0.354%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0215%	4h	316.45	−0.422%	$1.2M	$10.2M	50x	as long as short
01 Exchange TAOUSD	+0.0240%	1h	317.86	+0.022%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0282%	1h	316.64	−0.362%	$94.0M	$105.5M	5x	as long as short
Extended TAO-USD	+0.0296%	1h	317.00	−0.248%	$927K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	−0.563%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USDlong	+0.0345%	1h	317.79	long leg	$100K	$488K	5x
Backpack TAO_USDC_PERP	+0.0354%	1h	316.87	−0.289%	$317K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	316.93	−0.272%	$363K	$409K	10x	as long as short
Lighter TAO	+0.0400%	1h	316.83	−0.302%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0485%	1h	317.07	−0.227%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	316.10	−0.532%	$315K	$697K	5x	as long as short
Variational Omni TAO	+0.0615%	4h	315.95	−0.580%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.32	−0.147%	$365	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	317.61	−0.058%	$440K	$659K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	318.13	+0.107%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+0.573%	$23K	$2K	12x	as long as short