Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.043%

Price spread now: Arcus against Aster+0.050%7-day average +0.029% · 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−$40as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.125%−$13 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now +0.050%, 7d avg +0.029%

Together, before fees−0.066%+ Points / potential airdropAster: Stage 5 · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.021% dearer against Aster than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of +0.029%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 3 days (−0.125% in total) that is about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	310.29	0.0152	pay 0.0076% / 4h	2h 07m	$1.1M	$7.6M	50x
Short	Arcus TAO-USD	310.45	0.0100	get 0.0013% / 1h	7m 58s	$139K	$604K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Aster. 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 AsterbpFee ArcusbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$10.89
Price spread: +0.050% → +0.029%: $2.09
Slippage, 4 orders: −$29.82
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$51.12
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from Aster: live order book, 6 min ago; Arcus: live order book, 16 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 Aster live order book, 6 min ago	0.97 bp	8.8 bp −$9	23.1 bp −$231	206.8 bp −$20.7K	doesn't fit
Sell Arcus live order book, 16 min ago	4.70 bp	9.7 bp −$10	20.3 bp −$203	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	−0.0601%	1h	309.73	−0.182%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	310.21	−0.027%	$130K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	310.56	+0.087%	$27K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	310.34	+0.015%	$43K	$530K	20x	as long as short
Pacifica TAO	+0.0100%	1h	310.40	+0.034%	$366K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	310.13	−0.054%	$87.0M	$405.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	310.17	−0.040%	$60.3M	$119.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	310.00	−0.095%	$25.6M	$94.3M	50x	as long as short
Arcus TAO-USDshort	+0.0100%	1h	310.45	+0.050%	$139K	$604K	5x
Gate TAO_USDT	+0.0100%	4h	310.10	−0.063%	$12.3M	$48.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	310.07	−0.072%	$119.7M	$126.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	310.54	+0.079%	$18.9M	$26.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.93	−0.117%	$34.7M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	310.15	−0.047%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.99	−0.743%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.08	−0.714%	$40K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	308.51	−0.575%	$549K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.80	−0.804%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	310.62	+0.105%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	310.77	+0.153%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	310.65	+0.115%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	310.48	+0.060%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.36	+0.021%	$122K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	310.10	−0.063%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.74	+0.144%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	310.54	+0.079%	$1K	$451K	5x	as long as short
Aster TAOUSDTlong	+0.0152%	4h	310.29	long leg	$1.1M	$7.6M	50x
Paradex TAO-USD-PERP	+0.0161%	8h	310.30	+0.001%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	310.53	+0.075%	$443K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	−0.482%	$327K	$462K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0287%	1h	310.53	+0.075%	$12K	$1.3M	25x	as long as short
Nado TAO-PERP	+0.0288%	1h	310.65	+0.114%	$858K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	308.69	−0.517%	$4.3M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0536%	1h	310.85	+0.179%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	310.75	+0.147%	$357	—	20x	as long as short
Extended TAO-USD	+0.0752%	1h	309.97	−0.104%	$912K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0923%	1h	310.31	+0.005%	$386K	$754K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	311.63	+0.430%	$1.5M	$5.5M	50x	as long as short
Lighter TAO	+0.0968%	1h	310.95	+0.212%	$1.7M	$4.8M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1014%	1h	310.73	+0.140%	$6.4M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	310.46	+0.055%	$415K	$542K	5x	as long as short
Hyperliquid TAO	+0.1846%	1h	310.79	+0.160%	$97.4M	$77.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	−0.504%	$22K	$271	12x	as long as short