Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0087%/8h= +9.6% APRpaid last 24h −0.027%

Price spread now: Gate against dYdX−0.106%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1221.225% of the position

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.128%−$13 on $10k

Price spread, last 4 days (all we have)+0.251%+$25 · spread now −0.106%, 7d avg +0.009%

Together, before fees+0.124%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.115% cheaper against dYdX than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of +0.009%). If the spread goes back, that is −$11 on $10k: about 4.4 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.128%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TAO-USD	307.32	0.0013	pay 0.0002% / 1h	8m 23s	$126K	$85K	5x
Short	Gate TAO_USDT	307.00	0.0100	get 0.0050% / 4h	1h 08m	$12.2M	$49.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against dYdX. 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 dYdXbpFee GatebpOrdersPrice spread, now −0.106%Rate

Funding earned: $18.34
Price spread: −0.106% → +0.009%: −$11.46
Slippage, 4 orders: −$97.48
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$115.6
Costs to cover: 1.225%
Break-even: 51.1 days

Slippage from dYdX: live order book, 11 min ago; Gate: live order book, 5 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 dYdX live order book, 11 min ago	36.40 bp	41.4 bp −$41	55.7 bp −$557	168.0 bp −$16.8K	1238.5 bp −$619.2K
Sell Gate live order book, 5 min ago	3.27 bp	19.9 bp −$20	37.9 bp −$379	77.8 bp −$7,778	127.9 bp −$64.0K

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	−0.0396%	1h	305.88	−0.472%	$163K	$52K	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	306.94	−0.125%	$20K	—	150x	as long as short
dYdX TAO-USDlong	+0.0013%	1h	307.32	long leg	$126K	$85K	5x
Popdex TAOUSDT	+0.0096%	1h	307.13	−0.063%	$45K	$541K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.12	−0.066%	$86.0M	$414.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.29	−0.011%	$59.6M	$121.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.20	−0.041%	$24.7M	$96.0M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.62	+0.096%	$80K	$643K	5x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	307.00	−0.106%	$12.2M	$49.2M	50x
MEXC TAO_USDT	+0.0100%	4h	307.05	−0.089%	$114.8M	$126.1M	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	307.11	−0.070%	$18.3M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.08	−0.080%	$34.2M	$45.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.16	−0.054%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.62	−0.230%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	306.14	−0.386%	$506K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.47	−0.603%	$46K	$270K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	307.24	−0.028%	$75K	$550K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.16	−0.054%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.08	−0.080%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.06	−0.086%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.23	−0.031%	$123K	$369K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.07	−0.083%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.31	−0.006%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	307.31	−0.005%	$630	$511K	5x	as long as short
Variational Omni TAO	+0.0110%	4h	306.68	−0.209%	$3.7M	$6.7M	—	as long as short
Aster TAOUSDT	+0.0124%	4h	307.23	−0.031%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0154%	8h	307.48	+0.050%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	307.53	+0.067%	$363K	$369K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	306.96	−0.117%	$438K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0275%	1h	307.17	−0.050%	$19K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0314%	1h	307.12	−0.066%	$829K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.89	−0.141%	$4.2M	$9.5M	100x	as long as short
Lighter TAO	+0.0360%	1h	307.35	+0.010%	$1.6M	$5.4M	5x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	307.45	+0.041%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0455%	1h	307.21	−0.037%	$295K	$800K	10x	as long as short
Phoenix TAO	+0.0521%	1h	306.30	−0.333%	$320K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	306.98	−0.114%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.17	−0.050%	$834K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	307.79	+0.151%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1028%	1h	307.16	−0.053%	$5.8M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1135%	1h	307.58	+0.083%	$93.8M	$80.8M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	307.40	+0.026%	$419K	$533K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.457%	$22K	$264	12x	as long as short