Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0018%/8h= −1.9% APRpaid last 24h −0.332%

Price spread now: Bulk against Binance+0.525%7-day average −0.097% · 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+$36as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Binance Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.387%−$39 on $10k

Price spread, last 4 days (all we have)−0.386%−$39 · spread now +0.525%, 7d avg −0.097%

Together, before fees−0.774%−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bulk is 0.623% dearer against Binance than usual: you sell high and buy low (spread +0.525% now, against its 7-day average of −0.097%): +$62 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 4 days (−0.387% in total) that is about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TAOUSDT	314.48	0.0143	pay 0.0071% / 4h	3h 33m	$91.6M	$525.7M	75x
Short	Bulk TAO-USD	316.13	0.0125	get 0.0016% / 1h	33m 20s	$168K	$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Binance. 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 BinancebpFee BulkbpOrdersPrice spread, now +0.525%Rate

Funding earned: −$3.71
Price spread: +0.525% → −0.097%: $62.28
Slippage, 4 orders: −$9.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $32.27
Costs to cover: 0.263%
Break-even: from the start

Slippage from Binance: live order book, 10 min ago; Bulk: live order book, just now.

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 Binance live order book, 10 min ago	0.16 bp	8.4 bp −$8	14.9 bp −$149	38.5 bp −$3,845	doesn't fit
Sell Bulk live order book, just now	0.48 bp	6.1 bp −$6	8.0 bp −$80	16.0 bp −$1,605	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	315.02	+0.173%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.45	−0.009%	$50K	$699K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	314.13	−0.111%	$643	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.50	+0.007%	$26.2M	$128.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.30	−0.057%	$14.9M	$49.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.46	−0.006%	$17.7M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.46	−0.006%	$35.4M	$57.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.25	−0.072%	$86K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.24	−0.076%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.26	−0.069%	$115K	$588K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	314.61	+0.042%	$3.1M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	314.50	+0.006%	$173K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0124%	1h	315.68	+0.382%	$45K	$257K	50x	as long as short
Bulk TAO-USDshort	+0.0125%	1h	316.13	+0.525%	$168K	$0	10x
MEXC TAO_USDT	+0.0142%	4h	314.60	+0.039%	$104.6M	$152.0M	300x	as long as short
Binance TAOUSDTlong	+0.0143%	4h	314.48	long leg	$91.6M	$525.7M	75x
GRVT TAO_USDT_Perp	+0.0144%	4h	315.40	+0.293%	$540K	$876K	10x	as long as short
edgeX TAOUSDC	+0.0147%	4h	315.34	+0.275%	$42K	$321K	10x	as long as short
dYdX TAO-USD	+0.0188%	1h	314.05	−0.136%	$126K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0212%	4h	314.44	−0.012%	$53K	$298K	10x	as long as short
Bullet TAO-USD	+0.0224%	1h	314.55	+0.024%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0239%	8h	314.38	−0.032%	$14K	$876	10x	as long as short
BingX TAO-USDT	+0.0308%	4h	314.49	+0.004%	—	$37.2M	—	as long as short
Aster TAOUSDT	+0.0309%	4h	314.55	+0.022%	$1.2M	$11.1M	50x	as long as short
Extended TAO-USD	+0.0344%	1h	314.42	−0.018%	$894K	$2.3M	25x	as long as short
Bybit TAOUSDT	+0.0346%	4h	314.54	+0.020%	$69.0M	$154.9M	50x	as long as short
Pacifica TAO	+0.0349%	1h	314.62	+0.045%	$369K	$440K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	314.22	−0.082%	$369K	—	100x	as long as short
BloFin TAO-USDT	+0.0383%	4h	314.59	+0.036%	$4.8M	$10.7M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	314.64	+0.052%	$99K	$362K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0422%	1h	314.49	+0.005%	$15K	$1.9M	25x	as long as short
Nado TAO-PERP	+0.0497%	1h	314.57	+0.030%	$761K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0519%	1h	314.67	+0.061%	$92.7M	$108.6M	5x	as long as short
Phoenix TAO	+0.0578%	1h	315.80	+0.420%	$318K	$714K	5x	as long as short
Lighter TAO	+0.0592%	1h	315.08	+0.193%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	314.54	+0.020%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0614%	4h	315.43	+0.304%	$5.6M	$10.1M	—	as long as short
Backpack TAO_USDC_PERP	+0.0680%	1h	315.50	+0.325%	$311K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	315.34	+0.273%	$363	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0790%	1h	314.90	+0.133%	$5.9M	$21.1M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	314.25	−0.071%	$435K	$678K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	314.94	+0.147%	$1.1M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	318.23	+1.193%	$23K	$2K	12x	as long as short