Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against edgeX+0.139%59s7-day average −0.005% · 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−$410.406% of the position

Long on edgeX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.658%−$66 · spread now +0.139%, 7d avg −0.005%

Together, before fees−0.661%+ Points / potential airdropedgeX: Active · farm board−$66 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.144% dearer against edgeX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.005%. The two prices were read 59 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	315.41	0.0100	pay 0.0050% / 4h	38m 05s	$35K	$302K	10x
Short	Popdex TAOUSDT	315.85	0.0096	get 0.0012% / 1h	38m 05s	$42K	$688K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.139%Rate

Funding earned: −$0.84
Price spread: +0.139% → −0.005%: $14.37
Slippage, 4 orders: −$25.2
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$27.07
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from edgeX: live order book, 20 min ago; Popdex: live order book, 21 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, 20 min ago	6.36 bp	10.9 bp −$11	22.7 bp −$227	doesn't fit	doesn't fit
Sell Popdex live order book, 21 min ago	1.26 bp	10.1 bp −$10	103.0 bp −$1,030	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	−0.0482%	1h	315.13	−0.089%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.04	−0.117%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.54	+0.042%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.47	+0.018%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	315.85	+0.139%	$42K	$688K	20x
Binance TAOUSDT	+0.0100%	4h	315.74	+0.104%	$91.0M	$491.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.70	+0.091%	$26.0M	$119.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.50	+0.028%	$13.0M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.71	+0.094%	$106.2M	$142.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.68	+0.085%	$17.5M	$31.7M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.48	+0.021%	$35.3M	$55.9M	50x	as long as short
edgeX TAOUSDClong	+0.0100%	4h	315.41	long leg	$35K	$302K	10x
ApeX Omni TAOUSDT	+0.0100%	1h	314.94	−0.150%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.72	+0.098%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.83	+0.132%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.72	+0.098%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.42	+0.002%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.53	+0.037%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	315.50	+0.028%	$1K	$787K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0104%	4h	316.85	+0.457%	$528K	$944K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.68	+0.085%	$173K	$998	3x	as long as short
Bybit TAOUSDT	+0.0112%	4h	315.80	+0.123%	$68.6M	$146.9M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	315.70	+0.091%	$57K	$275K	10x	as long as short
BingX TAO-USDT	+0.0146%	4h	315.67	+0.082%	—	$30.0M	—	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0151% / S +0.0123%	1h	315.51	+0.032%	$420K	—	100x	as long as short
Nado TAO-PERP	+0.0178%	1h	315.69	+0.089%	$805K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0185%	8h	315.41	−0.002%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0207%	4h	315.63	+0.069%	$1.2M	$10.2M	50x	as long as short
01 Exchange TAOUSD	+0.0256%	1h	315.71	+0.094%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0269%	1h	315.63	+0.069%	$93.5M	$105.6M	5x	as long as short
Extended TAO-USD	+0.0280%	1h	315.48	+0.021%	$922K	$2.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0339%	1h	315.78	+0.117%	$316K	$913K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.25	−0.051%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.64	+0.072%	$99K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.17	−0.077%	$359K	$411K	10x	as long as short
Lighter TAO	+0.0376%	1h	315.81	+0.125%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0395%	1h	315.90	+0.155%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	317.30	+0.598%	$316K	$697K	5x	as long as short
Variational Omni TAO	+0.0615%	4h	315.95	+0.169%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.85	+0.137%	$363	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.55	+0.044%	$437K	$659K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	318.13	+0.862%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.331%	$23K	$2K	12x	as long as short