Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0221%/8h= −24.2% APRpaid last 24h −0.082%

Price spread now: Deribit against BloFin−0.243%57s7-day average +0.004% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.602%−$60 on $10k

Price spread, last 3 days (all we have)+0.282%+$28 · spread now −0.243%, 7d avg +0.004%

Together, before fees−0.320%−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Deribit is 0.247% cheaper against BloFin than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.004%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	314.14	0.0340	pay 0.0170% / 4h	3h 32m	$4.3M	$9.4M	100x
Short	Deribit TAO_USDC-PERPETUAL	313.38	0.0119	get 0.0015% / 1h	32m 08s	$17K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.243%Rate

Funding earned: −$46.41
Price spread: −0.243% → +0.004%: −$24.71
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$90.12
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 min ago; Deribit: live order book, 2 min ago. Net counts fees only.

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, 2 min ago	5.75 bp	13.2 bp −$13	20.7 bp −$207	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	11.98 bp	15.5 bp −$15	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	−1.0220%	1h	313.13	−0.321%	$209K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.15	−0.315%	$131K	$95K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	313.02	−0.356%	$27K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.31	−0.264%	$36K	$507K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.56	−0.185%	$365K	$396K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.18	+0.012%	$89.0M	$381.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.00	−0.045%	$25.8M	$89.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	313.84	−0.095%	$141K	$585K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.30	+0.051%	$12.5M	$47.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.29	+0.048%	$106.2M	$115.2M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	313.93	−0.067%	$20.2M	$24.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.31	+0.054%	$35.4M	$42.1M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.42	+0.089%	—	$29.9M	—	as long as short
Variational Omni TAO	+0.0100%	4h	313.60	−0.172%	$3.5M	$6.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.30	−0.586%	$40K	$274K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.48	−0.211%	$551K	$933K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.28	−0.592%	$48K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.15	−0.314%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.28	−0.274%	$60K	$277K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.55	−0.188%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.26	+0.038%	$125K	$354K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.12	−0.006%	$3.3M	$7.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.34	−0.255%	$90K	$636K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.74	−0.126%	$172K	$998	3x	as long as short
Bybit TAOUSDT	+0.0106%	4h	314.18	+0.013%	$60.3M	$112.0M	50x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0119%	1h	313.38	−0.243%	$17K	$1.3M	25x
Katana Perps TAO-USD	+0.0121%	8h	313.44	−0.223%	$896	$378K	5x	as long as short
Paradex TAO-USD-PERP	+0.0196%	8h	313.29	−0.272%	$15K	$992	10x	as long as short
Aster TAOUSDT	+0.0215%	4h	313.73	−0.129%	$1.7M	$7.1M	50x	as long as short
BloFin TAO-USDTlong	+0.0340%	4h	314.14	long leg	$4.3M	$9.4M	100x
Phoenix TAO	+0.0365%	1h	313.20	−0.299%	$332K	$326K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0392%	1h	314.14	−0.001%	$6.3M	$17.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0490% / S −0.0188%	1h	312.93	−0.386%	$463K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0576%	1h	314.81	+0.213%	$403K	$555K	10x	as long as short
Extended TAO-USD	+0.0584%	1h	313.59	−0.175%	$937K	$1.8M	25x	as long as short
01 Exchange TAOUSD	+0.0616%	1h	313.84	−0.095%	$3K	$4K	5x	as long as short
RISEx TAO/USDC	+0.0688%	1h	313.54	−0.191%	$411K	$526K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	313.15	−0.315%	$360	—	20x	as long as short
Nado TAO-PERP	+0.0699%	1h	313.23	−0.290%	$1.1M	$1.5M	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0936%	1h	313.71	−0.137%	$1.5M	$5.4M	50x	as long as short
Lighter TAO	+0.2016%	1h	315.14	+0.319%	$2.0M	$3.5M	5x	as long as short
Hyperliquid TAO	+0.2508%	1h	315.57	+0.455%	$96.0M	$66.8M	5x	as long as short
Injective TAO/USDC PERP	+0.3384%	1h	316.14	+0.637%	$23K	$137	12x	as long as short