Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0833%/8h= −91.2% APRpaid last 24h +0.317%

Price spread now: edgeX against Bulk+0.271%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Bulk Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.364%+$36 on $10k

Price spread, last 4 days (all we have)+0.289%+$29 · spread now +0.271%, 7d avg +0.101%

Together, before fees+0.652%+ Points / potential airdropedgeX: Active · farm board+$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.170% dearer against Bulk than usual: you sell high and buy low (spread +0.271% now, against its 7-day average of +0.101%): +$17 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 16 hours. Mind the row above: over the last 4 days funding on this pair paid +0.364%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	314.34	0.0933	pay 0.0117% / 1h	15m 00s	$167K	$2K	10x
Short	edgeX TAOUSDC	315.19	0.0100	get 0.0050% / 4h	15m 00s	$42K	$313K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.271%Rate

Funding earned: −$174.92
Price spread: +0.271% → +0.101%: $17.01
Slippage, 4 orders: −$14.38
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$188.29
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from Bulk: live order book, 44 min ago; edgeX: live order book, 43 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, 44 min ago	0.16 bp	3.8 bp −$4	7.1 bp −$71	10.5 bp −$1,053	doesn't fit
Sell edgeX live order book, 43 min ago	6.36 bp	10.9 bp −$11	26.1 bp −$261	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
dYdX TAO-USD	0.0000%	1h	315.14	+0.256%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.72	+0.120%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.80	+0.146%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.48	+0.363%	$43K	$669K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.21	+0.277%	$645	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.73	+0.125%	$90.9M	$494.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.80	+0.146%	$67.7M	$148.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.60	+0.083%	$26.0M	$120.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.60	+0.083%	$12.9M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.88	+0.172%	$110.7M	$144.1M	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	314.74	+0.127%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.51	+0.054%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.68	+0.108%	—	$32.9M	—	as long as short
edgeX TAOUSDCshort	+0.0100%	4h	315.19	+0.271%	$42K	$313K	10x
GRVT TAO_USDT_Perp	+0.0100%	4h	315.53	+0.380%	$522K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.11	+0.245%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.24	+0.286%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.07	+0.234%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.95	+0.194%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.21	−0.041%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.81	+0.150%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.00	+0.208%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.73	+0.124%	$52K	$270K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0146% / S +0.0122%	1h	314.72	+0.122%	$428K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0158%	8h	315.54	+0.383%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0181%	4h	314.88	+0.173%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	314.74	+0.126%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0209%	1h	315.21	+0.278%	$801K	$2.2M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0218%	1h	314.94	+0.191%	$25K	$1.7M	25x	as long as short
Hyperliquid TAO	+0.0265%	1h	314.89	+0.175%	$92.6M	$106.5M	5x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	315.59	+0.398%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.96	+0.197%	$4.6M	$10.9M	100x	as long as short
Lighter TAO	+0.0344%	1h	315.12	+0.249%	$1.5M	$6.5M	5x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.72	+0.439%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0347%	1h	314.76	+0.134%	$315K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.36	+0.324%	$360K	$412K	10x	as long as short
Variational Omni TAO	+0.0461%	4h	315.17	+0.264%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.40	+0.337%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.02	+0.216%	$362	—	20x	as long as short
Bulk TAO-USDlong	+0.0933%	1h	314.34	long leg	$167K	$2K	10x
RISEx TAO/USDC	+0.0991%	1h	315.48	+0.361%	$436K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.12	+0.566%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.225%	$23K	$2K	12x	as long as short