Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0806%/8h= +88.3% APRpaid last 24h +0.335%

Price spread now: BloFin against Bulk−0.810%7-day average +0.074% · 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−$118as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Bulk Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.531%+$53 on $10k

Price spread, last 3 days (all we have)+0.816%+$82 · spread now −0.810%, 7d avg +0.074%

Together, before fees+1.347%+$135 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.884% cheaper against Bulk than usual: you would sell low and buy high (spread −0.810% now, against its 7-day average of +0.074%). If the spread goes back, that is −$88 on $10k: about 3.7 days of funding at the current rate (+$24 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	307.38	−0.0466	get 0.0058% / 1h	50m 09s	$202K	$17K	10x
Short	BloFin TAO-USDT	304.89	0.0340	get 0.0170% / 4h	1h 50m	$4.3M	$9.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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

Position, each leg$Hold fordaysFee BulkbpFee BloFinbpOrdersPrice spread, now −0.810%Rate

Funding earned: $169.35
Price spread: −0.810% → +0.074%: −$88.41
Slippage, 4 orders: −$10.18
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $51.76
Costs to cover: 0.292%
Break-even: 4.9 days

Slippage from Bulk: live order book, 34 min ago; BloFin: live order book, 4 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 Bulk live order book, 34 min ago	0.16 bp	3.7 bp −$4	5.1 bp −$51	10.6 bp −$1,063	39.7 bp −$19.8K
Sell BloFin live order book, 4 min ago	0.33 bp	11.9 bp −$12	17.1 bp −$171	33.2 bp −$3,323	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-USDlong	−0.0466%	1h	307.38	long leg	$202K	$17K	10x
dYdX TAO-USD	0.0000%	1h	304.37	−0.979%	$125K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.95	−1.116%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	304.74	−0.859%	$42K	$532K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.97	−1.110%	$85.3M	$409.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	304.11	−1.064%	$59.1M	$120.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	304.00	−1.100%	$24.5M	$94.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	305.02	−0.768%	$136K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.90	−1.132%	$12.2M	$48.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	304.02	−1.093%	$119.5M	$123.6M	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	303.94	−1.119%	$18.2M	$26.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.85	−1.148%	$34.0M	$45.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	304.00	−1.100%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.07	−0.752%	$3.6M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.44	−0.307%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	306.54	−0.272%	$545K	$937K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	306.50	−0.286%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	304.76	−0.852%	$78K	$607K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	304.15	−1.051%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	304.11	−1.064%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.00	−1.100%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.26	−1.015%	$120K	$355K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	304.10	−1.067%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	304.23	−1.025%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	304.95	−0.791%	$2K	$485K	5x	as long as short
Aster TAOUSDT	+0.0125%	4h	304.04	−1.086%	$1.1M	$7.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0157%	8h	304.42	−0.962%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	304.52	−0.930%	$360K	$369K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.98	−1.105%	$434K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0283%	1h	304.19	−1.037%	$22K	$1.4M	25x	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	304.89	−0.810%	$4.3M	$9.4M	100x
Backpack TAO_USDC_PERP	+0.0368%	1h	304.11	−1.064%	$376K	$756K	10x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	304.97	−0.784%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0472%	1h	304.17	−1.046%	$1.7M	$5.1M	5x	as long as short
Nado TAO-PERP	+0.0511%	1h	304.69	−0.874%	$836K	$1.9M	10x	as long as short
Phoenix TAO	+0.0521%	1h	307.40	+0.007%	$326K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	304.20	−1.034%	$350	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	304.03	−1.090%	$888K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.27	−0.686%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1039%	1h	304.05	−1.082%	$5.8M	$19.8M	50x	as long as short
RISEx TAO/USDC	+0.1155%	1h	305.08	−0.749%	$411K	$545K	5x	as long as short
Hyperliquid TAO	+0.1449%	1h	304.35	−0.986%	$93.6M	$78.5M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.439%	$22K	$264	12x	as long as short