Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.001%

Price spread now: Arcus against edgeX+0.166%54s7-day average +0.078% · 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—prices read too far apart to compare

costs, in and out, $10k−$620.616% of the position

Long on edgeX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 3 days (all we have)−0.326%−$33 · spread now +0.166%, 7d avg +0.078%

Together, before fees−0.318%+ Points / potential airdropedgeX: Active · farm board−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Arcus is 0.087% dearer against edgeX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.078%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TAOUSDC	317.06	0.0100	pay 0.0050% / 4h	3h 03m	$40K	$294K	10x
Short	Arcus TAO-USD	317.58	0.0201	get 0.0025% / 1h	3m 46s	$84K	$550K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against edgeX. 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 edgeXbpFee ArcusbpOrdersPrice spread, now +0.166%Rate

Funding earned: $21.28
Price spread: +0.166% → +0.078%: $8.74
Slippage, 4 orders: −$48.07
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$31.55
Costs to cover: 0.616%
Break-even: 17.4 days

Slippage from edgeX: live order book, 4 min ago; Arcus: 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 edgeX live order book, 4 min ago	7.89 bp	12.4 bp −$12	26.6 bp −$266	doesn't fit	doesn't fit
Sell Arcus live order book, 5 min ago	8.37 bp	22.0 bp −$22	32.9 bp −$329	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	−0.1228%	1h	316.14	−0.289%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.55	−0.790%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	316.94	−0.038%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.72	+0.210%	$44K	$603K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.84	−0.697%	$90.2M	$452.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.40	−0.837%	$25.6M	$108.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.20	−0.270%	$12.8M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.44	−0.825%	$100.2M	$137.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.68	−0.749%	$17.8M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.53	−0.796%	$35.0M	$51.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDClong	+0.0100%	4h	317.06	long leg	$40K	$294K	10x
GRVT TAO_USDT_Perp	+0.0100%	4h	315.81	−0.393%	$523K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.24	+0.058%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.27	+0.068%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.38	+0.102%	$127K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0103%	4h	317.37	+0.099%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.49	+0.137%	$174K	$998	3x	as long as short
Bullet TAO-USD	+0.0105%	1h	317.35	+0.093%	$12K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0122%	8h	317.74	+0.216%	$1K	$644K	5x	as long as short
ApeX Omni TAOUSDT	+0.0154%	1h	316.14	−0.289%	$48K	$267K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	316.91	−0.046%	$450K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	314.69	−0.746%	$373K	$376K	10x	as long as short
Arcus TAO-USDshort	+0.0201%	1h	317.58	+0.166%	$84K	$550K	5x
Aster TAOUSDT	+0.0204%	4h	316.36	−0.220%	$1.3M	$8.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	314.64	−0.760%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0267%	1h	317.77	+0.225%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0275%	1h	317.11	+0.017%	$17K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.47	−0.185%	$4.4M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0484%	1h	317.05	−0.002%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.00	−0.017%	$332K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.57	+0.162%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.46	+1.074%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	−0.088%	$5.5M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.52	+0.148%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	314.74	−0.730%	—	$30.7M	—	as long as short
Nado TAO-PERP	+0.0746%	1h	317.67	+0.194%	$790K	$2.1M	10x	as long as short
Bybit TAOUSDT	+0.0752%	4h	314.63	−0.765%	$64.8M	$133.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0800%	1h	317.11	+0.017%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.25	+0.061%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1104%	1h	316.30	−0.238%	$884K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	317.39	+0.105%	$421K	$593K	5x	as long as short
Lighter TAO	+0.1400%	1h	315.40	−0.522%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1745%	1h	315.23	−0.576%	$100.8M	$91.7M	5x	as long as short