Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0192%/8h= +21.0% APRpaid last 24h +0.007%

Price spread now: Bullet against HTX+0.105%7-day average — · you sell dearer than you buy

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

Long on HTX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Bullet is 0.105% dearer against HTX than usual: you sell high and buy low: +$10 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	HTX TAO-USDT	319.29	0.0100	pay 0.0050% / 4h	13m 18s	$117K	$603K	20x
Short	Bullet TAO-USD	319.62	0.0292	get 0.0036% / 1h	13m 18s	$12K	$17K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against HTX. 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 HTXbpFee BulletbpOrdersPrice spread, now +0.105%Rate

Funding earned: $40.24
Price spread: +0.105% → 0.000%: $10.49
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: $30.73
Costs to cover: 0.200%
Break-even: 1.7 days

Slippage unknown: HTX: live order book, 25 min ago; Bullet: 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 HTX live order book, 25 min ago	8.86 bp	93.4 bp −$93	doesn't fit	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	319.52	+0.072%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0074%	1h	318.96	−0.105%	$127K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.87	+0.182%	$46K	$714K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.60	+0.097%	$26.6M	$132.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.40	+0.034%	$14.8M	$52.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.85	+0.175%	$18.0M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.45	+0.050%	$35.9M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.41	−0.589%	$46K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.71	+0.132%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.39	+0.031%	$2K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDTlong	+0.0100%	4h	319.29	long leg	$117K	$603K	20x
GMX TAO/USD [WBTC.b-USDC]	L +0.0104% / S +0.0139%	1h	316.95	−0.731%	$404K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	319.65	+0.113%	$2K	$1.1M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	319.84	+0.171%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0172%	4h	319.82	+0.166%	$52K	$294K	10x	as long as short
MEXC TAO_USDT	+0.0178%	4h	319.77	+0.150%	$104.0M	$152.6M	300x	as long as short
Binance TAOUSDT	+0.0180%	4h	319.79	+0.157%	$92.5M	$531.9M	75x	as long as short
edgeX TAOUSDC	+0.0184%	4h	317.44	−0.580%	$42K	$321K	10x	as long as short
BingX TAO-USDT	+0.0258%	4h	319.77	+0.150%	—	$37.2M	—	as long as short
Paradex TAO-USD-PERP	+0.0258%	8h	319.71	+0.133%	$15K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0273%	4h	319.84	+0.172%	$70.2M	$157.0M	50x	as long as short
Bullet TAO-USDshort	+0.0292%	1h	319.62	+0.105%	$12K	$17K	20x
Pacifica TAO	+0.0313%	1h	319.69	+0.124%	$375K	$466K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0316%	4h	318.09	−0.376%	$541K	$907K	10x	as long as short
Aster TAOUSDT	+0.0342%	4h	319.73	+0.138%	$1.3M	$11.0M	50x	as long as short
Phemex TAOUSDT	+0.0352%	4h	319.63	+0.106%	$3.2M	$8.2M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	319.84	+0.172%	$908K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0420%	4h	319.77	+0.150%	$4.7M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0455%	1h	319.80	+0.161%	$787K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	320.04	+0.235%	$101K	$384K	5x	as long as short
Variational Omni TAO	+0.0560%	4h	318.03	−0.396%	$5.6M	$10.1M	—	as long as short
Lighter TAO	+0.0584%	1h	320.11	+0.257%	$1.6M	$6.9M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0606%	1h	319.87	+0.182%	$15K	$1.9M	25x	as long as short
Phoenix TAO	+0.0629%	1h	318.40	−0.279%	$320K	$703K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	320.25	+0.301%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0687%	1h	319.37	+0.025%	$298K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.64	+0.109%	$368	—	20x	as long as short
Hyperliquid TAO	+0.0714%	1h	319.90	+0.190%	$94.5M	$110.6M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0828%	1h	319.90	+0.190%	$6.0M	$21.7M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	319.82	+0.167%	$454K	$662K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	320.04	+0.235%	$1.4M	$7.0M	50x	as long as short
Bulk TAO-USD	+0.1572%	1h	317.17	−0.664%	$169K	$0	10x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	318.80	−0.153%	$23K	$2K	12x	as long as short