Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0131%/8h= −14.4% APRpaid last 24h −0.052%

Price spread now: Deribit against Aster−0.133%7-day average −0.016% · 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−$50as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.242%−$24 on $10k

Price spread, last 3 days (all we have)+0.190%+$19 · spread now −0.133%, 7d avg −0.016%

Together, before fees−0.052%+ Points / potential airdropAster: Stage 5 · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.117% cheaper against Aster than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	310.85	0.0178	pay 0.0089% / 4h	23m 47s	$1.1M	$7.9M	50x
Short	Deribit TAO_USDC-PERPETUAL	310.44	0.0047	get 0.0006% / 1h	23m 47s	$20K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$27.58
Price spread: −0.133% → −0.016%: −$11.75
Slippage, 4 orders: −$23
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$77.32
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Deribit: 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 Aster live order book, 5 min ago	1.75 bp	7.7 bp −$8	33.7 bp −$337	266.9 bp −$26.7K	doesn't fit
Sell Deribit live order book, 5 min ago	6.22 bp	10.2 bp −$10	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	−0.4493%	1h	315.57	+1.518%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	311.08	+0.074%	$124K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	310.88	+0.010%	$20K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+1.318%	$23K	$361	12x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0047%	1h	310.44	−0.133%	$20K	$1.5M	25x
Popdex TAOUSDT	+0.0096%	1h	311.12	+0.086%	$35K	$564K	20x	as long as short
Pacifica TAO	+0.0100%	1h	311.50	+0.209%	$369K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	310.91	+0.020%	$88.1M	$427.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.08	+0.074%	$61.0M	$125.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	310.80	−0.017%	$25.0M	$100.9M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	310.70	−0.049%	$12.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	310.71	−0.046%	$109.1M	$130.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	310.96	+0.035%	$18.4M	$27.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.75	−0.033%	$34.6M	$46.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	310.99	+0.045%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.93	+0.991%	$41K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.92	+0.986%	$521K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.77	+0.939%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.22	+0.119%	$76K	$476K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.09	+0.077%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	310.69	−0.052%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	310.68	−0.055%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.10	+0.080%	$127K	$408K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	310.69	−0.052%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.75	−0.033%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	311.04	+0.061%	$3K	$555K	5x	as long as short
Aster TAOUSDTlong	+0.0178%	4h	310.85	long leg	$1.1M	$7.9M	50x
Arcus TAO-USD	+0.0186%	1h	311.76	+0.292%	$82K	$565K	5x	as long as short
Paradex TAO-USD-PERP	+0.0188%	8h	311.45	+0.192%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0199%	4h	312.46	+0.517%	$4.0M	$7.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.00	+0.369%	$4.4M	$10.5M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0453%	1h	310.44	−0.133%	$5.7M	$19.9M	50x	as long as short
Nado TAO-PERP	+0.0459%	1h	311.01	+0.050%	$818K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0474% / S −0.0175%	1h	310.80	−0.016%	$446K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0515%	1h	310.70	−0.049%	$290K	$804K	10x	as long as short
Phoenix TAO	+0.0537%	1h	314.20	+1.077%	$329K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	311.27	+0.135%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.11	+0.083%	$358	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	310.87	+0.007%	$855K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.04	+0.704%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	311.19	+0.107%	$433K	$567K	5x	as long as short
Lighter TAO	+0.1240%	1h	311.43	+0.185%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.1688%	1h	311.30	+0.144%	$96.9M	$83.9M	5x	as long as short