Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0253%/8h= −27.7% APRpaid last 24h +0.009%

Price spread now: SunX against Deribit−0.090%7-day average −0.027% · you buy dearer than you sell

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

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.227%+$23 on $10k

Price spread, last 3 days (all we have)+0.059%+$6 · spread now −0.090%, 7d avg −0.027%

Together, before fees+0.286%+$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and SunX is 0.063% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.027%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.227%, 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	Deribit TAO_USDC-PERPETUAL	313.11	0.0353	pay 0.0044% / 1h	43m 32s	$19K	$1.4M	25x
Short	SunX TAO-USDT	312.83	0.0100	get 0.0050% / 4h	43m 32s	$1K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$53.13
Price spread: −0.090% → −0.027%: −$6.29
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$74.42
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, just now; SunX: live order book, 12 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 Deribit live order book, just now	2.40 bp	12.7 bp −$13	19.6 bp −$196	doesn't fit	doesn't fit
Sell SunX live order book, 12 min ago	500.20 bp	doesn't fit	doesn't fit	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
Bulk TAO-USD	−0.4722%	1h	314.01	+0.287%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.08	−0.010%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.65	−0.149%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.408%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.18	+0.022%	$40K	$551K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.23	+0.038%	$371K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.10	−0.004%	$88.6M	$424.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.58	−0.170%	$61.2M	$123.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.80	−0.100%	$25.1M	$100.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.10	−0.004%	$12.7M	$49.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.33	+0.070%	$119.9M	$127.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.91	−0.065%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.18	+0.022%	$34.9M	$46.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.19	+0.025%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.83	−0.089%	$40K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.31	+0.065%	$528K	$948K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.13	+0.006%	$60K	$276K	10x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	312.83	−0.090%	$1K	$1.8M	20x
HTX TAO-USDT	+0.0100%	4h	313.00	−0.036%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.94	−0.055%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.16	+0.016%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.06	−0.017%	$829	$539K	5x	as long as short
Polymarket Perps TAO-USD	+0.0146%	1h	313.56	+0.143%	$77K	$521K	5x	as long as short
Bullet TAO-USD	+0.0154%	1h	313.11	−0.001%	$11K	$17K	20x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.43	+0.102%	$83K	$626K	5x	as long as short
Variational Omni TAO	+0.0188%	4h	313.49	+0.119%	$3.9M	$7.0M	—	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	313.13	+0.007%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0208%	4h	313.03	−0.025%	$1.1M	$7.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0226%	1h	312.79	−0.103%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.23	−0.282%	$4.3M	$9.8M	100x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0353%	1h	313.11	long leg	$19K	$1.4M	25x
Kraken Futures PF_TAOUSD	+0.0449%	1h	313.17	+0.017%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.76	−0.113%	$449K	—	100x	as long as short
Nado TAO-PERP	+0.0529%	1h	313.15	+0.011%	$834K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	−0.164%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0586%	1h	312.70	−0.132%	$300K	$799K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.40	+0.091%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0792%	1h	313.44	+0.105%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0880%	1h	313.12	+0.003%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.29	+0.057%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.38	+0.087%	$431K	$536K	5x	as long as short
Lighter TAO	+0.1432%	1h	313.61	+0.158%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2075%	1h	313.50	+0.124%	$97.6M	$83.2M	5x	as long as short