Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0253%/8h= −27.7% APRpaid last 24h −0.067%

Price spread now: ApeX Omni against BloFin−0.054%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.406%−$41 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now −0.054%, 7d avg −0.015%

Together, before fees−0.388%−$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and ApeX Omni is 0.039% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	315.36	0.0387	pay 0.0194% / 4h	3h 37m	$4.8M	$10.8M	100x
Short	ApeX Omni TAOUSDT	315.19	0.0134	get 0.0017% / 1h	37m 14s	$45K	$257K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.054%Rate

Funding earned: −$53.13
Price spread: −0.054% → −0.015%: −$3.86
Slippage, 4 orders: −$19.68
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$98.67
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; ApeX Omni: live order book, 60 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 BloFin live order book, 7 min ago	0.95 bp	8.7 bp −$9	14.0 bp −$140	33.4 bp −$3,343	doesn't fit
Sell ApeX Omni live order book, 60 min ago	4.90 bp	12.7 bp −$13	119.1 bp −$1,191	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	315.05	−0.098%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.54	+0.057%	$49K	$705K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	315.28	−0.025%	$2K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.50	+0.044%	$26.3M	$129.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	−0.051%	$14.8M	$49.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.41	+0.016%	$17.7M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.13	−0.073%	$35.5M	$57.5M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.30	−0.019%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.06	−0.095%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.48	−0.279%	$115K	$590K	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	315.19	−0.054%	$3.2M	$8.1M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0118%	4h	315.10	−0.081%	$539K	$877K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	315.47	+0.035%	$173K	$998	3x	as long as short
Bulk TAO-USD	+0.0125%	1h	316.13	+0.244%	$168K	$0	10x	as long as short
ApeX Omni TAOUSDTshort	+0.0134%	1h	315.19	−0.054%	$45K	$257K	50x
MEXC TAO_USDT	+0.0146%	4h	315.49	+0.041%	$104.4M	$151.8M	300x	as long as short
Binance TAOUSDT	+0.0147%	4h	315.36	0.000%	$92.0M	$528.4M	75x	as long as short
edgeX TAOUSDC	+0.0154%	4h	315.22	−0.044%	$42K	$320K	10x	as long as short
dYdX TAO-USD	+0.0209%	1h	315.45	+0.027%	$127K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0210%	4h	315.30	−0.019%	$54K	$298K	10x	as long as short
Bullet TAO-USD	+0.0222%	1h	315.46	+0.033%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0241%	8h	315.66	+0.095%	$14K	$876	10x	as long as short
BingX TAO-USDT	+0.0308%	4h	315.38	+0.006%	—	$37.3M	—	as long as short
Aster TAOUSDT	+0.0311%	4h	315.43	+0.022%	$1.2M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	315.70	+0.108%	$370K	$440K	10x	as long as short
Extended TAO-USD	+0.0352%	1h	315.27	−0.028%	$894K	$2.4M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	315.01	−0.110%	$370K	—	100x	as long as short
Bybit TAOUSDT	+0.0369%	4h	315.47	+0.035%	$69.4M	$155.1M	50x	as long as short
BloFin TAO-USDTlong	+0.0387%	4h	315.36	long leg	$4.8M	$10.8M	100x
Arcus TAO-USD	+0.0404%	1h	315.77	+0.130%	$99K	$368K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0406%	1h	315.31	−0.017%	$15K	$1.9M	25x	as long as short
Hyperliquid TAO	+0.0492%	1h	315.62	+0.082%	$93.0M	$108.5M	5x	as long as short
Nado TAO-PERP	+0.0510%	1h	315.58	+0.069%	$768K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	316.20	+0.266%	$318K	$714K	5x	as long as short
Lighter TAO	+0.0592%	1h	315.58	+0.068%	$1.6M	$6.6M	5x	as long as short
Variational Omni TAO	+0.0602%	4h	315.71	+0.112%	$5.6M	$10.1M	—	as long as short
01 Exchange TAOUSD	+0.0608%	1h	315.84	+0.152%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0686%	1h	315.87	+0.162%	$316K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	315.41	+0.015%	$363	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0789%	1h	315.44	+0.025%	$6.0M	$21.2M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	315.49	+0.042%	$437K	$683K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	316.02	+0.209%	$1.2M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	319.36	+1.268%	$23K	$2K	12x	as long as short