Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0288%/8h= −31.5% APRpaid last 24h 0.000%

Price spread now: OKX against BingX−0.028%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$320.325% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 7 days+0.009%+$1 · spread now −0.028%, 7d avg −0.026%

Together, before fees−0.057%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.066% in total (about -3.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	320.39	0.0388	pay 0.0194% / 4h	2h 08m	—	$33.9M	—
Short	OKX TAO-USDT-SWAP	320.30	0.0100	get 0.0100% / 8h	2h 08m	$26.7M	$126.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$60.48
Price spread: −0.028% → −0.026%: −$0.18
Slippage, 4 orders: −$12.49
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$93.16
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from BingX: live order book, 15 min ago; OKX: 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 BingX live order book, 15 min ago	0.79 bp	6.0 bp −$6	12.4 bp −$124	28.0 bp −$2,798	66.2 bp −$33.1K
Sell OKX live order book, 5 min ago	1.57 bp	9.2 bp −$9	16.6 bp −$166	68.2 bp −$6,822	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	−0.1195%	1h	319.01	−0.430%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.35	−0.014%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0030%	1h	319.84	−0.173%	$128K	$85K	5x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	320.30	−0.028%	$26.7M	$126.4M	50x
Gate TAO_USDT	+0.0100%	4h	320.20	−0.059%	$14.3M	$51.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.20	−0.059%	$17.6M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.19	−0.062%	$36.1M	$57.3M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.66	+0.084%	$81K	$946K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	320.07	−0.100%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.39	0.000%	$117K	$563K	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	320.01	−0.119%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	320.48	+0.028%	$1K	$949K	5x	as long as short
edgeX TAOUSDC	+0.0110%	4h	319.26	−0.354%	$42K	$315K	10x	as long as short
Aevo TAO-PERP	+0.0112%	1h	320.69	+0.092%	$176K	$998	3x	as long as short
MEXC TAO_USDT	+0.0114%	4h	320.44	+0.016%	$102.1M	$148.3M	300x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	320.66	+0.084%	$53K	$291K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	320.82	+0.134%	$54K	$671K	20x	as long as short
Binance TAOUSDT	+0.0123%	4h	320.47	+0.026%	$91.9M	$514.6M	75x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0142%	1h	320.48	+0.028%	$431K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	320.50	+0.034%	$365K	$421K	10x	as long as short
Aster TAOUSDT	+0.0282%	4h	320.55	+0.050%	$1.3M	$10.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0287%	8h	320.45	+0.020%	$15K	$1K	10x	as long as short
Nado TAO-PERP	+0.0291%	1h	320.63	+0.076%	$811K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0297%	1h	320.51	+0.036%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0322%	1h	320.94	+0.172%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0354%	4h	320.11	−0.087%	$4.6M	$11.0M	100x	as long as short
BingX TAO-USDTlong	+0.0388%	4h	320.39	long leg	—	$33.9M	—
Bybit TAOUSDT	+0.0421%	4h	320.56	+0.053%	$70.4M	$153.9M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0440%	4h	319.60	−0.247%	$545K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	320.74	+0.109%	$103K	$358K	5x	as long as short
Variational Omni TAO	+0.0485%	4h	319.46	−0.291%	$5.6M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0487%	1h	319.47	−0.287%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0504%	1h	320.32	−0.022%	$911K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	320.60	+0.066%	$319K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0633%	1h	320.64	+0.078%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	320.88	+0.153%	$369	—	20x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	321.06	+0.209%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0807%	1h	320.48	+0.028%	$94.3M	$109.3M	5x	as long as short
Lighter TAO	+0.0808%	1h	320.75	+0.112%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0841%	1h	320.20	−0.059%	$317K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	321.31	+0.287%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	320.47	+0.025%	$461K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+0.796%	$23K	$2K	12x	as long as short