Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0707%/8h= −77.5% APRpaid last 24h +0.292%

Price spread now: SunX against Bulk−0.976%7-day average +0.113% · you buy dearer than you sell

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

Long on Bulk Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.378%+$38 on $10k

Price spread, last 4 days (all we have)+0.948%+$95 · spread now −0.976%, 7d avg +0.113%

Together, before fees+1.326%+$133 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and SunX is 1.089% cheaper against Bulk than usual: you would sell low and buy high (−$109 if the spread goes back to its 7-day average of +0.113%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.378%, 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	318.75	0.0807	pay 0.0101% / 1h	48m 59s	$169K	$0	10x
Short	SunX TAO-USDT	315.64	0.0100	get 0.0050% / 4h	1h 48m	$2K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.976%Rate

Funding earned: −$148.57
Price spread: −0.976% → +0.113%: −$108.88
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$272.44
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 63 min ago; SunX: live order book, 11 min ago. 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 Bulk live order book, 63 min ago	0.47 bp	5.5 bp −$6	9.4 bp −$94	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	500.16 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

TAO on 43 exchanges

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	316.86	−0.593%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.98	−0.869%	$50K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.80	−0.925%	$26.8M	$128.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.70	−0.957%	$15.7M	$47.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.77	−0.935%	$17.5M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.67	−0.966%	$35.8M	$56.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.75	−0.627%	$45K	$253K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.56	−1.001%	$81K	$1.1M	5x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	315.64	−0.976%	$2K	$1.8M	20x
HTX TAO-USDT	+0.0100%	4h	315.87	−0.904%	$112K	$564K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0104%	8h	315.83	−0.916%	$3K	$1.3M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	315.98	−0.868%	$174K	$998	3x	as long as short
Bybit TAOUSDT	+0.0118%	4h	315.97	−0.872%	$69.2M	$155.6M	50x	as long as short
Binance TAOUSDT	+0.0138%	4h	315.91	−0.891%	$92.9M	$511.1M	75x	as long as short
MEXC TAO_USDT	+0.0138%	4h	316.02	−0.856%	$105.4M	$147.5M	300x	as long as short
edgeX TAOUSDC	+0.0141%	4h	316.70	−0.643%	$42K	$324K	10x	as long as short
BingX TAO-USDT	+0.0146%	4h	316.03	−0.853%	—	$38.0M	—	as long as short
Lighter TAO	+0.0176%	1h	316.06	−0.845%	$1.6M	$6.6M	5x	as long as short
Paradex TAO-USD-PERP	+0.0204%	8h	316.08	−0.837%	$14K	$876	10x	as long as short
Phemex TAOUSDT	+0.0209%	4h	316.02	−0.856%	$3.2M	$8.1M	50x	as long as short
Extended TAO-USD	+0.0216%	1h	315.79	−0.928%	$954K	$2.1M	25x	as long as short
Pacifica TAO	+0.0240%	1h	316.03	−0.853%	$374K	$456K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0254%	4h	315.81	−0.922%	$53K	$262K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0262%	4h	317.12	−0.511%	$541K	$805K	10x	as long as short
Bullet TAO-USD	+0.0264%	1h	315.92	−0.888%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0305%	4h	315.89	−0.897%	$1.2M	$11.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	316.55	−0.691%	$372K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0364%	1h	315.79	−0.928%	$15K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0380%	4h	316.03	−0.853%	$4.9M	$10.4M	100x	as long as short
Nado TAO-PERP	+0.0392%	1h	315.98	−0.870%	$694K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0444%	4h	316.43	−0.726%	$5.7M	$9.8M	—	as long as short
Hyperliquid TAO	+0.0474%	1h	316.14	−0.819%	$95.1M	$107.1M	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	316.38	−0.744%	$100K	$310K	5x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	316.09	−0.835%	$3K	$2K	5x	as long as short
Phoenix TAO	+0.0650%	1h	316.90	−0.580%	$319K	$710K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0659%	1h	316.10	−0.831%	$297K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	315.98	−0.869%	$436K	$672K	5x	as long as short
dYdX TAO-USD	+0.0667%	1h	315.77	−0.935%	$266K	$230K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	316.32	−0.762%	$1.1M	$7.6M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	316.25	−0.783%	$364	—	20x	as long as short
Bulk TAO-USDlong	+0.0807%	1h	318.75	long leg	$169K	$0	10x
Kraken Futures PF_TAOUSD	+0.0932%	1h	316.00	−0.864%	$6.2M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	320.28	+0.480%	$23K	$2K	12x	as long as short