Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0701%/8h= −76.8% APRpaid last 24h −0.252%

Price spread now: Bulk against BingX+0.408%7-day average −0.059% · 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+$19as in the Price arb table

costs, in and out, $10k−$270.275% of the position

Long on BingX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.288%−$29 on $10k

Price spread, last 4 days (all we have)−0.739%−$74 · spread now +0.408%, 7d avg −0.059%

Together, before fees−1.026%−$103 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bulk is 0.468% dearer against BingX than usual: you sell high and buy low (spread +0.408% now, against its 7-day average of −0.059%): +$47 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 3 days (−0.288% in total) that is about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	308.47	0.0100	pay 0.0050% / 4h	2h 06m	—	$30.4M	—
Short	Bulk TAO-USD	309.73	−0.0601	pay 0.0075% / 1h	6m 51s	$203K	$57K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against BingX. 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 BingXbpFee BulkbpOrdersPrice spread, now +0.408%Rate

Funding earned: −$147.23
Price spread: +0.408% → −0.059%: $46.77
Slippage, 4 orders: −$10.49
Fee BingX: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$127.95
Costs to cover: 0.275%
Break-even: from the start

Slippage from BingX: live order book, 2 min ago; Bulk: live order book, 17 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 BingX live order book, 2 min ago	2.41 bp	9.9 bp −$10	14.5 bp −$145	24.7 bp −$2,468	62.3 bp −$31.2K
Sell Bulk live order book, 17 min ago	0.16 bp	4.3 bp −$4	8.4 bp −$84	25.6 bp −$2,561	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-USDshort	−0.0601%	1h	309.73	+0.408%	$203K	$57K	10x
dYdX TAO-USD	0.0000%	1h	308.27	−0.065%	$129K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	309.03	+0.183%	$11K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	309.36	+0.288%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.65	+0.383%	$43K	$528K	20x	as long as short
Pacifica TAO	+0.0100%	1h	309.85	+0.447%	$366K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.38	−0.030%	$86.5M	$405.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.65	+0.058%	$60.0M	$119.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.50	+0.010%	$25.5M	$93.8M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	309.93	+0.473%	$138K	$604K	5x	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	308.50	+0.010%	$12.3M	$48.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.60	+0.042%	$119.0M	$126.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.54	+0.023%	$18.9M	$26.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.47	0.000%	$34.5M	$44.6M	50x	as long as short
BingX TAO-USDTlong	+0.0100%	4h	308.47	long leg	—	$30.4M	—
Variational Omni TAO	+0.0100%	4h	307.99	−0.156%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.32	−0.047%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.18	+0.230%	$550K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.84	−0.204%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	309.71	+0.402%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	309.59	+0.364%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	309.22	+0.243%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	309.38	+0.295%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.54	+0.347%	$122K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	309.01	+0.175%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	309.34	+0.283%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	309.82	+0.438%	$1K	$451K	5x	as long as short
Paradex TAO-USD-PERP	+0.0161%	8h	309.59	+0.364%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0162%	4h	308.66	+0.060%	$1.1M	$7.6M	50x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	+0.107%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0294%	1h	309.65	+0.383%	$855K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	309.54	+0.347%	$4.3M	$9.5M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0486% / S −0.0184%	1h	309.31	+0.273%	$454K	—	100x	as long as short
01 Exchange TAOUSD	+0.0544%	1h	310.12	+0.535%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	309.53	+0.343%	$356	—	20x	as long as short
Extended TAO-USD	+0.0768%	1h	308.57	+0.032%	$912K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0913%	1h	309.00	+0.172%	$384K	$754K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	311.63	+1.024%	$1.5M	$5.5M	50x	as long as short
Lighter TAO	+0.0976%	1h	308.69	+0.072%	$1.7M	$4.8M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1019%	1h	309.25	+0.253%	$6.4M	$19.0M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	309.81	+0.435%	$414K	$542K	5x	as long as short
Hyperliquid TAO	+0.1849%	1h	309.38	+0.295%	$96.9M	$77.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	+0.084%	$22K	$271	12x	as long as short