Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0287%/8h= −31.4% APRpaid last 24h −0.004%

Price spread now: OKX against Bullet+0.025%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. OKX is 0.025% dearer against Bullet than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	320.22	0.0387	pay 0.0048% / 1h	43m 33s	$12K	$17K	20x
Short	OKX TAO-USDT-SWAP	320.30	0.0100	get 0.0100% / 8h	1h 43m	$26.6M	$129.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bullet. 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 BulletbpFee OKXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$60.18
Price spread: +0.025% → 0.000%: $2.5
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$75.68
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; OKX: live order book, 5 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 Bullet no order-book sample	—	—	—	—	—
Sell OKX live order book, 5 min ago	1.56 bp	9.1 bp −$9	15.8 bp −$158	56.5 bp −$5,654	doesn't fit

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.2101%	1h	320.87	+0.203%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.64	−0.180%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.84	−0.120%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.16	−0.019%	$41K	$696K	20x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	320.30	+0.025%	$26.6M	$129.4M	50x
Gate TAO_USDT	+0.0100%	4h	319.90	−0.100%	$14.2M	$51.6M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.25	+0.009%	$17.8M	$32.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.99	−0.072%	$35.9M	$58.3M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.44	+0.069%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.10	−0.037%	$75K	$1.1M	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	319.93	−0.091%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.75	−0.147%	$118K	$589K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.21	−0.003%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.06	−0.050%	$726	$992K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.06	−0.048%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0121% / S +0.0156%	1h	319.84	−0.120%	$433K	—	100x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	320.04	−0.056%	$53K	$293K	10x	as long as short
edgeX TAOUSDC	+0.0152%	4h	320.03	−0.058%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0156%	4h	320.38	+0.050%	$105.3M	$149.6M	300x	as long as short
Binance TAOUSDT	+0.0156%	4h	320.09	−0.041%	$92.6M	$527.0M	75x	as long as short
Paradex TAO-USD-PERP	+0.0263%	8h	320.11	−0.033%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0312%	4h	320.06	−0.050%	$1.3M	$10.9M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	320.28	+0.019%	—	$34.4M	—	as long as short
Bullet TAO-USDlong	+0.0387%	1h	320.22	long leg	$12K	$17K	20x
Bybit TAOUSDT	+0.0387%	4h	320.42	+0.062%	$70.0M	$155.9M	50x	as long as short
BloFin TAO-USDT	+0.0390%	4h	320.36	+0.044%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0408%	4h	319.77	−0.140%	$544K	$948K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	320.28	+0.019%	$917K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	320.18	−0.012%	$365K	$423K	10x	as long as short
Variational Omni TAO	+0.0538%	4h	319.36	−0.269%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	320.30	+0.025%	$319K	$709K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0573%	1h	319.97	−0.079%	$14K	$1.9M	25x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	320.54	+0.100%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0641%	1h	319.97	−0.078%	$300K	$908K	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.56	+0.106%	$103K	$394K	5x	as long as short
Nado TAO-PERP	+0.0643%	1h	320.27	+0.016%	$802K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0667%	1h	320.17	−0.016%	$94.6M	$110.1M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	320.18	−0.014%	$368	—	20x	as long as short
Lighter TAO	+0.0856%	1h	320.32	+0.032%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	321.04	+0.256%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	320.19	−0.009%	$462K	$665K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1153%	1h	320.09	−0.041%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+2.508%	$24K	$2K	12x	as long as short