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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.4593%/8h= +502.9% APRpaid last 24h +0.276%
Price spread now: BingX against Bulk−1.214%7-day average +0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$153as in the Price arb table
costs, in and out, $10k−$230.235% of the position
Long on BulkShort on BingX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.305%+$31 on $10k
Price spread, last 4 days (all we have)+1.370%+$137 · spread now −1.214%, 7d avg +0.083%
Together, before fees+1.675%+$168 on $10k · with fees, hour by hour
Funding pays, the price is against you. BingX is 1.297% cheaper against Bulk than usual: you would sell low and buy high (spread −1.214% now, against its 7-day average of +0.083%). If the spread goes back, that is −$130 on $10k: about 23 hours of funding at the current rate (+$138 a day). At the pace of the last 3 days (+0.305% in total) that is about 14 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.305% in total (about 32.8% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk TAO-USD315.57−0.4493get 0.0562% / 1h23m 26s$169K$47K10x
ShortBingX TAO-USDT311.740.0100get 0.0050% / 4h23m 26s—$30.3M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Bulk. 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

Funding earned
$964.45
Price spread: −1.214% → +0.083%
−$129.65
Slippage, 4 orders
−$6.45
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee BingX: 5 bp × 2 orders
−$10
Net
$811.34
Costs to cover
0.235%
Break-even
1.1 days
Slippage from Bulk: live order book, 55 min ago; BingX: live order book, 15 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bulk live order book, 55 min ago0.17 bp4.1 bp −$47.9 bp −$7926.7 bp −$2,66954.0 bp −$27.0K
Sell BingX live order book, 15 min ago0.64 bp9.5 bp −$915.9 bp −$15924.1 bp −$2,41560.9 bp −$30.5K

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USDlong−0.4493%1h315.57long leg$169K$47K10x
dYdX TAO-USD0.0000%1h310.91−1.475%$124K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h311.54−1.276%$20K—150xas long as short
Injective TAO/USDC PERP+0.0033%1h314.95−0.196%$23K$36112xas long as short
Deribit TAO_USDC-PERPETUAL+0.0047%1h310.44−1.627%$20K$1.5M25xas long as short
Popdex TAOUSDT+0.0096%1h311.46−1.302%$35K$563K20xas long as short
Pacifica TAO+0.0100%1h311.15−1.400%$368K$363K10xas long as short
Binance TAOUSDT+0.0100%4h311.71−1.225%$88.4M$427.4M75xas long as short
Bybit TAOUSDT+0.0100%4h311.92−1.157%$61.2M$125.1M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h311.20−1.385%$25.0M$101.1M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate TAO_USDT+0.0100%4h311.30−1.353%$12.4M$50.0M50xas long as short
MEXC TAO_USDT+0.0100%4h311.54−1.277%$109.3M$130.6M300xas long as short
KuCoin TAOUSDTM+0.0100%4h311.41−1.318%$18.4M$27.8M75xas long as short
Bitget TAOUSDT+0.0100%4h311.21−1.382%$34.7M$46.7M50xas long as short
BingX TAO-USDTshort+0.0100%4h311.74−1.214%—$30.3M—
edgeX TAOUSDC+0.0100%4h312.02−1.125%$40K$280K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h313.92−0.524%$521K$956K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h311.97−1.141%$47K$268K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h311.66−1.239%$76K$466K5xas long as short
Bullet TAO-USD+0.0100%1h311.74−1.214%$11K$17K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h311.92−1.157%$60K$275K10xas long as short
SunX TAO-USDT+0.0100%4h310.68−1.550%$1K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h311.10−1.416%$127K$408K20xas long as short
Phemex TAOUSDT+0.0100%4h310.69−1.546%$3.3M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h310.75−1.527%$171K$9983xas long as short
Katana Perps TAO-USD+0.0109%8h311.35−1.337%$3K$555K5xas long as short
Aster TAOUSDT+0.0169%4h311.30−1.353%$1.1M$7.9M50xas long as short
Arcus TAO-USD+0.0186%1h311.61−1.255%$82K$565K5xas long as short
Paradex TAO-USD-PERP+0.0187%8h311.36−1.334%$14K$1K10xas long as short
Variational Omni TAO+0.0199%4h312.46−0.986%$4.0M$7.0M—as long as short
BloFin TAO-USDT+0.0340%4h312.00−1.131%$4.4M$10.5M100xas long as short
Kraken Futures PF_TAOUSD+0.0453%1h310.44−1.627%$5.7M$19.9M50xas long as short
Nado TAO-PERP+0.0467%1h311.33−1.344%$819K$2.0M10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0475% / S −0.0175%1h311.47−1.300%$446K—100xas long as short
Backpack TAO_USDC_PERP+0.0515%1h310.70−1.543%$290K$804K10xas long as short
Phoenix TAO+0.0537%1h312.50−0.973%$327K$521K5xas long as short
01 Exchange TAOUSD+0.0608%1h311.60−1.258%$3K$4K5xas long as short
Reya TAORUSDPERP+0.0695%1h311.36−1.334%$358—20xas long as short
Extended TAO-USD+0.0848%1h311.43−1.313%$855K$2.1M25xas long as short
Coinbase International TAO-PERP-INTX+0.0960%1h313.04−0.802%$1.5M$5.8M50xas long as short
RISEx TAO/USDC+0.1238%1h311.50−1.290%$433K$567K5xas long as short
Lighter TAO+0.1240%1h311.43−1.313%$1.6M$5.8M5xas long as short
Hyperliquid TAO+0.1686%1h311.71−1.223%$97.0M$83.9M5xas long as short