Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.016%

Price spread now: dYdX against Gate0.000%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1321.317% of the position

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now 0.000%, 7d avg −0.009%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.120%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	318.50	0.0100	pay 0.0050% / 4h	3h 25m	$12.9M	$50.7M	50x
Short	dYdX TAO-USD	318.50	0	get 0.0000% / 1h	25m 34s	$127K	$88K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Gate. 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 GatebpFee dYdXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → −0.009%: $0.94
Slippage, 4 orders: −$106.67
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$151.73
Costs to cover: 1.317%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; dYdX: live order book, 48 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 Gate live order book, 3 min ago	4.72 bp	19.7 bp −$20	46.9 bp −$469	63.1 bp −$6,307	97.7 bp −$48.8K
Sell dYdX live order book, 48 min ago	40.38 bp	48.6 bp −$49	63.2 bp −$632	187.7 bp −$18.8K	608.1 bp −$304.0K

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	−0.1321%	1h	318.22	−0.088%	$169K	$44K	10x	as long as short
dYdX TAO-USDshort	0.0000%	1h	318.50	0.000%	$127K	$88K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.94	−0.177%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.52	+0.006%	$43K	$592K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.41	−0.028%	$91.5M	$447.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.50	0.000%	$26.1M	$108.8M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	318.50	long leg	$12.9M	$50.7M	50x
MEXC TAO_USDT	+0.0100%	4h	318.40	−0.031%	$108.9M	$135.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.29	−0.066%	$18.2M	$29.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.33	−0.053%	$35.4M	$50.8M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.16	−0.420%	$40K	$292K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.62	−0.591%	$523K	$969K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.11	−0.122%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.69	−0.568%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.21	−0.091%	$127K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.67	−0.261%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.35	−0.047%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	318.48	−0.006%	$737	$625K	5x	as long as short
Bullet TAO-USD	+0.0110%	1h	318.66	+0.050%	$12K	$17K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0093%	1h	317.99	−0.159%	$457K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.86	+0.113%	$377K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	318.99	+0.154%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0214%	4h	318.46	−0.013%	$1.1M	$8.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0236%	8h	318.71	+0.067%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0297%	1h	318.63	+0.041%	$93K	$635K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0312%	1h	318.15	−0.110%	$17K	$1.5M	25x	as long as short
ApeX Omni TAOUSDT	+0.0316%	1h	317.14	−0.427%	$49K	$267K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.04	−0.458%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0398%	4h	318.81	+0.097%	—	$30.7M	—	as long as short
Variational Omni TAO	+0.0460%	4h	318.45	−0.015%	$5.5M	$8.7M	—	as long as short
Bybit TAOUSDT	+0.0475%	4h	318.76	+0.082%	$65.7M	$133.1M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0482%	1h	318.01	−0.152%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	318.10	−0.126%	$333K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	322.97	+1.403%	$23K	$678	12x	as long as short
01 Exchange TAOUSD	+0.0600%	1h	319.14	+0.201%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	318.39	−0.034%	$366	—	20x	as long as short
Nado TAO-PERP	+0.0769%	1h	318.41	−0.027%	$890K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0843%	1h	318.13	−0.116%	$321K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.19	−0.097%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1141%	1h	318.89	+0.123%	$423K	$591K	5x	as long as short
Extended TAO-USD	+0.1144%	1h	318.78	+0.087%	$926K	$2.3M	25x	as long as short
Lighter TAO	+0.1400%	1h	319.23	+0.228%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2046%	1h	318.87	+0.116%	$103.0M	$91.4M	5x	as long as short