Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.033%

Price spread now: Pacifica against Aster+0.132%7-day average −0.034% · 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−$21as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Aster Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.160%−$16 on $10k

Price spread, last 4 days (all we have)−0.194%−$19 · spread now +0.132%, 7d avg −0.034%

Together, before fees−0.355%+ Points / potential airdropAster: Stage 5 · Pacifica: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.166% dearer against Aster than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of −0.034%): +$17 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 24 days. At the pace of the last 5 days (−0.160% in total) that is about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	316.97	0.0207	pay 0.0104% / 4h	3h 06m	$1.3M	$8.8M	50x
Short	Pacifica TAO	317.39	0.0185	get 0.0023% / 1h	6m 26s	$376K	$376K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PacificabpOrdersPrice spread, now +0.132%Rate

Funding earned: −$4.77
Price spread: +0.132% → −0.034%: $16.6
Slippage, 4 orders: −$21.22
Fee Aster: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$25.39
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; Pacifica: live order book, 2 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, 2 min ago	2.21 bp	9.3 bp −$9	20.6 bp −$206	157.6 bp −$15.8K	doesn't fit
Sell Pacifica live order book, 2 min ago	3.00 bp	9.3 bp −$9	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	−0.1228%	1h	316.14	−0.262%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.00	+0.010%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.31	−0.210%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.20	+0.072%	$43K	$603K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.66	−0.097%	$90.7M	$450.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.50	−0.148%	$25.8M	$109.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.70	−0.085%	$12.9M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.95	−0.006%	$99.6M	$136.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.09	+0.038%	$18.0M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.92	−0.016%	$35.2M	$51.5M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.12	−0.269%	$40K	$293K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.81	−0.366%	$523K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.43	−0.170%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.70	−0.085%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.76	+0.249%	$127K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.76	+0.249%	$3.4M	$7.8M	50x	as long as short
Bullet TAO-USD	+0.0101%	1h	317.01	+0.012%	$12K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.97	0.000%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0124%	8h	317.07	+0.031%	$1K	$644K	5x	as long as short
ApeX Omni TAOUSDT	+0.0154%	1h	316.14	−0.262%	$48K	$267K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	316.54	−0.135%	$449K	—	100x	as long as short
Pacifica TAOshort	+0.0185%	1h	317.39	+0.132%	$376K	$376K	10x
Arcus TAO-USD	+0.0201%	1h	317.39	+0.132%	$84K	$550K	5x	as long as short
Aster TAOUSDTlong	+0.0207%	4h	316.97	long leg	$1.3M	$8.8M	50x
Paradex TAO-USD-PERP	+0.0237%	8h	317.05	+0.026%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0262%	1h	317.32	+0.110%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0292%	1h	317.77	+0.252%	$17K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.23	+0.397%	$4.5M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0482%	1h	317.90	+0.292%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	316.20	−0.243%	$331K	$624K	5x	as long as short
Variational Omni TAO	+0.0546%	4h	316.94	−0.009%	$5.5M	$8.7M	—	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.25	+0.088%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	316.59	−0.120%	$23K	$902	12x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.13	+0.051%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	316.70	−0.085%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0705%	4h	316.84	−0.041%	$65.2M	$133.5M	50x	as long as short
Nado TAO-PERP	+0.0749%	1h	317.24	+0.084%	$873K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0805%	1h	318.28	+0.413%	$322K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.23	+0.082%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1112%	1h	316.89	−0.024%	$884K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	317.24	+0.083%	$421K	$593K	5x	as long as short
Lighter TAO	+0.1424%	1h	317.65	+0.214%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1780%	1h	317.50	+0.169%	$101.6M	$91.6M	5x	as long as short