Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0807%/8h= −88.3% APRpaid last 24h −0.017%

Price spread now: Aster against Extended+0.021%7-day average +0.124% · 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−$41as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.089%+$9 on $10k

Price spread, last 7 days+0.154%+$15 · spread now +0.021%, 7d avg +0.124%

Together, before fees+0.243%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Aster is 0.103% cheaper against Extended than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.124%). Swap the legs. Mind the row above: over the last 5 days funding on this pair paid +0.089%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.089% in total (about 6.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TAO-USD	308.68	0.0984	pay 0.0123% / 1h	46m 16s	$890K	$2.4M	25x
Short	Aster TAOUSDT	308.75	0.0177	get 0.0089% / 4h	2h 46m	$1.3M	$9.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$169.39
Price spread: +0.021% → +0.124%: −$10.32
Slippage, 4 orders: −$17.64
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$210.35
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Aster: live order book, 3 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 Extended live order book, 2 min ago	2.09 bp	7.2 bp −$7	9.1 bp −$91	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	2.10 bp	7.3 bp −$7	14.6 bp −$146	185.6 bp −$18.6K	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
dYdX TAO-USD	0.0000%	1h	308.79	+0.034%	$123K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	308.59	−0.029%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.88	+0.064%	$46K	$604K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.70	+0.005%	$88.6M	$458.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.80	+0.038%	$25.1M	$107.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	308.60	−0.027%	$12.5M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.80	+0.038%	$100.7M	$136.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.81	+0.041%	$17.9M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.59	−0.030%	$34.4M	$52.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.23	+0.826%	$34K	$299K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	311.49	+0.908%	$519K	$964K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.69	+0.002%	$56K	$307K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.52	−0.053%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.06	+0.122%	$126K	$471K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	309.09	+0.132%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	308.92	+0.077%	$632	$673K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0092%	1h	308.49	−0.062%	$425K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0171%	1h	308.72	+0.013%	$5.5M	$20.3M	50x	as long as short
Aster TAOUSDTshort	+0.0177%	4h	308.75	+0.021%	$1.3M	$9.1M	50x
Deribit TAO_USDC-PERPETUAL	+0.0217%	1h	308.62	−0.019%	$15K	$1.5M	25x	as long as short
Bullet TAO-USD	+0.0230%	1h	308.84	+0.051%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0265%	8h	309.11	+0.140%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0274%	1h	309.01	+0.106%	$78K	$656K	5x	as long as short
Pacifica TAO	+0.0285%	1h	309.14	+0.148%	$365K	$378K	10x	as long as short
ApeX Omni TAOUSDT	+0.0290%	1h	310.96	+0.737%	$47K	$268K	50x	as long as short
Arcus TAO-USD	+0.0337%	1h	309.18	+0.161%	$82K	$551K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+0.802%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+2.250%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0562%	1h	308.74	+0.019%	$758K	$2.1M	10x	as long as short
Phemex TAOUSDT	+0.0585%	4h	309.32	+0.206%	$3.3M	$7.9M	50x	as long as short
Phoenix TAO	+0.0588%	1h	311.70	+0.977%	$326K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	309.17	+0.158%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0696%	4h	309.05	+0.118%	$5.4M	$8.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	308.82	+0.046%	$355	—	20x	as long as short
BingX TAO-USDT	+0.0740%	4h	308.76	+0.025%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0790%	4h	308.92	+0.077%	$63.1M	$135.2M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0875%	1h	309.41	+0.235%	$313K	$816K	10x	as long as short
Extended TAO-USDlong	+0.0984%	1h	308.68	long leg	$890K	$2.4M	25x
Coinbase International TAO-PERP-INTX	+0.1024%	1h	310.00	+0.426%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	308.96	+0.089%	$410K	$605K	5x	as long as short
Hyperliquid TAO	+0.1301%	1h	309.16	+0.154%	$98.1M	$92.7M	5x	as long as short
Lighter TAO	+0.1432%	1h	309.34	+0.212%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+1.204%	$166K	$40K	10x	as long as short