Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.4314%/8h= +472.4% APRpaid last 24h +0.624%

Price spread now: Injective against BloFin+1.179%114s7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.091%+$309 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$129 a day on $10k at the current rate, and Injective is 1.179% dearer against BloFin than usual: you sell high and buy low: +$118 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 114 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	319.67	0.0409	pay 0.0204% / 4h	1h 29m	$4.7M	$11.1M	100x
Short	Injective TAO/USDC PERP	323.44	0.4723	get 0.0590% / 1h	29m 19s	$24K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.179%Rate

Funding earned: $905.9
Price spread: +1.179% → 0.000%: $117.93
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,011.81
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 4 min ago; Injective: no order-book sample. 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, 4 min ago	2.03 bp	8.9 bp −$9	13.0 bp −$130	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1995%	1h	319.47	−0.063%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.13	−0.169%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	319.23	−0.139%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.09	+0.131%	$42K	$706K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.10	−0.178%	$26.7M	$129.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.10	−0.178%	$14.2M	$51.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.32	−0.109%	$17.9M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.96	−0.222%	$35.8M	$58.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.35	+0.213%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.94	+0.084%	$96K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	319.71	+0.013%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.56	−0.347%	$119K	$590K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	319.87	+0.063%	$1K	$1.0M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0118% / S +0.0149%	1h	319.56	−0.034%	$427K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.43	−0.075%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0122%	4h	319.22	−0.141%	$53K	$292K	10x	as long as short
edgeX TAOUSDC	+0.0165%	4h	319.82	+0.045%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0170%	4h	319.23	−0.138%	$105.6M	$150.1M	300x	as long as short
Binance TAOUSDT	+0.0170%	4h	319.29	−0.119%	$92.4M	$529.2M	75x	as long as short
Paradex TAO-USD-PERP	+0.0264%	8h	320.09	+0.131%	$15K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0298%	4h	319.37	−0.094%	$3.2M	$8.1M	50x	as long as short
Bybit TAOUSDT	+0.0325%	4h	319.31	−0.113%	$69.9M	$156.1M	50x	as long as short
Aster TAOUSDT	+0.0333%	4h	319.26	−0.128%	$1.3M	$10.9M	50x	as long as short
BingX TAO-USDT	+0.0350%	4h	319.19	−0.150%	—	$34.5M	—	as long as short
Bullet TAO-USD	+0.0384%	1h	319.27	−0.125%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0396%	4h	319.57	−0.030%	$544K	$940K	10x	as long as short
BloFin TAO-USDTlong	+0.0409%	4h	319.67	long leg	$4.7M	$11.1M	100x
Extended TAO-USD	+0.0456%	1h	319.22	−0.142%	$916K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	320.07	+0.125%	$364K	$423K	10x	as long as short
Variational Omni TAO	+0.0541%	4h	320.05	+0.119%	$5.7M	$10.2M	—	as long as short
Nado TAO-PERP	+0.0551%	1h	319.98	+0.096%	$799K	$2.0M	10x	as long as short
Phoenix TAO	+0.0567%	1h	319.20	−0.147%	$318K	$709K	5x	as long as short
Hyperliquid TAO	+0.0627%	1h	319.85	+0.056%	$94.5M	$110.3M	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	320.34	+0.210%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.31	+0.200%	$103K	$394K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0698%	1h	319.75	+0.025%	$298K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.25	−0.133%	$367	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0703%	1h	319.21	−0.145%	$15K	$1.9M	25x	as long as short
Lighter TAO	+0.0768%	1h	319.97	+0.094%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.68	+0.316%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	319.41	−0.081%	$457K	$666K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1156%	1h	319.32	−0.111%	$5.9M	$21.8M	50x	as long as short
Injective TAO/USDC PERPshort	+0.4723%	1h	323.44	+1.179%	$24K	$2K	12x