Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0311%/8h= −34.1% APRpaid last 24h −0.072%

Price spread now: OKX against BloFin+0.199%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$340.335% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.456%−$46 on $10k

Price spread, last 4 days (all we have)−0.222%−$22 · spread now +0.199%, 7d avg −0.044%

Together, before fees−0.678%−$68 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.243% dearer against BloFin than usual: you sell high and buy low (spread +0.199% now, against its 7-day average of −0.044%): +$24 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	321.16	0.0411	pay 0.0205% / 4h	1h 26m	$4.7M	$11.1M	100x
Short	OKX TAO-USDT-SWAP	321.80	0.0100	get 0.0100% / 8h	1h 26m	$26.8M	$130.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.199%Rate

Funding earned: −$65.31
Price spread: +0.199% → −0.044%: $24.29
Slippage, 4 orders: −$11.5
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$74.52
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	0.16 bp	8.5 bp −$9	16.4 bp −$164	31.7 bp −$3,173	doesn't fit
Sell OKX live order book, 2 min ago	1.57 bp	9.5 bp −$9	14.1 bp −$141	63.9 bp −$6,392	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	−0.1995%	1h	319.47	−0.526%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.13	−0.631%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	319.02	−0.667%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.24	+0.336%	$43K	$705K	20x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	321.80	+0.199%	$26.8M	$130.7M	50x
Gate TAO_USDT	+0.0100%	4h	321.40	+0.075%	$14.4M	$52.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.17	+0.003%	$18.0M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.91	+0.234%	$36.2M	$58.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.84	−0.411%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.89	−0.084%	$89K	$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	321.03	−0.040%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.00	−0.361%	$119K	$597K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	322.14	+0.305%	$731	$1.0M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0118% / S +0.0150%	1h	320.83	−0.102%	$429K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	321.15	−0.005%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	321.22	+0.019%	$53K	$292K	10x	as long as short
MEXC TAO_USDT	+0.0170%	4h	321.69	+0.165%	$106.6M	$150.2M	300x	as long as short
edgeX TAOUSDC	+0.0170%	4h	319.71	−0.452%	$42K	$316K	10x	as long as short
Binance TAOUSDT	+0.0171%	4h	321.55	+0.121%	$93.1M	$529.1M	75x	as long as short
Paradex TAO-USD-PERP	+0.0278%	8h	321.99	+0.257%	$15K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0278%	4h	320.92	−0.075%	$3.3M	$8.1M	50x	as long as short
BingX TAO-USDT	+0.0324%	4h	322.03	+0.271%	—	$34.5M	—	as long as short
Aster TAOUSDT	+0.0347%	4h	321.19	+0.011%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0350%	4h	321.92	+0.237%	$70.6M	$156.2M	50x	as long as short
Bullet TAO-USD	+0.0395%	1h	321.24	+0.025%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0396%	4h	319.57	−0.494%	$544K	$940K	10x	as long as short
BloFin TAO-USDTlong	+0.0411%	4h	321.16	long leg	$4.7M	$11.1M	100x
Extended TAO-USD	+0.0464%	1h	322.03	+0.271%	$913K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	321.51	+0.108%	$366K	$423K	10x	as long as short
Variational Omni TAO	+0.0541%	4h	320.05	−0.346%	$5.7M	$10.2M	—	as long as short
Nado TAO-PERP	+0.0548%	1h	320.88	−0.086%	$801K	$2.0M	10x	as long as short
Phoenix TAO	+0.0567%	1h	319.40	−0.548%	$318K	$709K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	322.21	+0.327%	$104K	$389K	5x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	322.81	+0.514%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0651%	1h	321.40	+0.075%	$94.9M	$110.4M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.25	−0.596%	$367	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0718%	1h	321.37	+0.065%	$299K	$905K	10x	as long as short
Lighter TAO	+0.0760%	1h	321.51	+0.110%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	321.15	−0.003%	$1.5M	$6.9M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0952%	1h	321.24	+0.026%	$15K	$1.9M	25x	as long as short
RISEx TAO/USDC	+0.1077%	1h	321.14	−0.005%	$460K	$666K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1149%	1h	321.36	+0.062%	$6.0M	$21.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.44	+0.710%	$24K	$2K	12x	as long as short