Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.4575%/8h= +500.9% APRpaid last 24h +0.696%

Price spread now: Injective against edgeX+2.277%7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.549%+$355 on $10k

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$137 a day on $10k at the current rate, and Injective is 2.277% dearer against edgeX than usual: you sell high and buy low: +$228 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TAOUSDC	320.94	0.0148	pay 0.0074% / 4h	1h 47m	$42K	$316K	10x
Short	Injective TAO/USDC PERP	328.25	0.4723	get 0.0590% / 1h	47m 46s	$24K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.277%Rate

Funding earned: $960.72
Price spread: +2.277% → 0.000%: $227.72
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,179.41
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 60 min ago; Injective: no order-book sample. 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 edgeX live order book, 60 min ago	6.37 bp	10.9 bp −$11	24.5 bp −$245	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.022%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.84	−0.344%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.32	−0.193%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.37	−0.178%	$40K	$694K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.00	−0.293%	$26.6M	$129.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.10	−0.262%	$14.2M	$51.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.50	−0.138%	$17.6M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.07	−0.272%	$36.0M	$58.1M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.78	−0.050%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.47	−0.147%	$76K	$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	320.38	−0.175%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.91	−0.321%	$117K	$585K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.74	−0.063%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.32	−0.194%	$2K	$992K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.81	−0.040%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	320.68	−0.082%	$53K	$293K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0122% / S +0.0155%	1h	320.26	−0.213%	$433K	—	100x	as long as short
edgeX TAOUSDClong	+0.0148%	4h	320.94	long leg	$42K	$316K	10x
MEXC TAO_USDT	+0.0152%	4h	320.52	−0.131%	$105.2M	$149.4M	300x	as long as short
Binance TAOUSDT	+0.0152%	4h	320.32	−0.193%	$92.8M	$526.2M	75x	as long as short
Paradex TAO-USD-PERP	+0.0264%	8h	320.51	−0.134%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0306%	4h	320.33	−0.190%	$1.3M	$10.9M	50x	as long as short
BingX TAO-USDT	+0.0366%	4h	320.42	−0.163%	—	$34.4M	—	as long as short
Bullet TAO-USD	+0.0369%	1h	320.74	−0.063%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0389%	4h	320.16	−0.244%	$69.9M	$155.7M	50x	as long as short
BloFin TAO-USDT	+0.0393%	4h	320.43	−0.159%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0424%	4h	322.11	+0.363%	$548K	$948K	10x	as long as short
Extended TAO-USD	+0.0480%	1h	320.42	−0.161%	$914K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	320.60	−0.106%	$365K	$423K	10x	as long as short
Variational Omni TAO	+0.0536%	4h	321.98	+0.323%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	321.70	+0.236%	$320K	$709K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0589%	1h	320.63	−0.097%	$14K	$1.9M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0607%	1h	320.77	−0.053%	$319K	$899K	10x	as long as short
Nado TAO-PERP	+0.0636%	1h	320.86	−0.026%	$802K	$2.2M	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.73	−0.066%	$103K	$394K	5x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	320.61	−0.103%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0674%	1h	320.61	−0.104%	$94.8M	$109.9M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	320.59	−0.109%	$369	—	20x	as long as short
Lighter TAO	+0.0872%	1h	320.51	−0.135%	$1.5M	$6.6M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.95	+0.626%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	320.34	−0.188%	$461K	$665K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1151%	1h	320.82	−0.038%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERPshort	+0.4723%	1h	328.25	+2.277%	$24K	$2K	12x