Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h +0.004%

Price spread now: dYdX against HTX+0.297%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$331as in the Funding arb table

Net, price: spread back to 7d avg − costs−$322as in the Price arb table

costs, in and out, $10k−$3453.453% of the position

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)−0.246%−$25 · spread now +0.297%, 7d avg +0.063%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.233% dearer against HTX than usual: you sell high and buy low (spread +0.297% now, against its 7-day average of +0.063%): +$23 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 11 days. Mind the row above: over the last 7 days funding on this pair paid +0.147%, 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	HTX TAO-USDT	323.18	0.0100	pay 0.0050% / 4h	2h 02m	$118K	$566K	20x
Short	dYdX TAO-USD	324.14	0.0027	get 0.0003% / 1h	2m 38s	$129K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.297%Rate

Funding earned: −$15.39
Price spread: +0.297% → +0.063%: $23.31
Slippage, 4 orders: −$323.31
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$337.39
Costs to cover: 3.453%
Break-even: never at this rate

Slippage from HTX: live order book, 46 min ago; dYdX: live order book, 46 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 HTX live order book, 46 min ago	7.03 bp	108.0 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 46 min ago	40.60 bp	45.6 bp −$46	49.0 bp −$490	165.2 bp −$16.5K	1068.5 bp −$534.2K

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	−0.1440%	1h	322.10	−0.336%	$171K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.17	−0.004%	$21K	—	150x	as long as short
dYdX TAO-USDshort	+0.0027%	1h	324.14	+0.297%	$129K	$85K	5x
OKX TAO-USDT-SWAP	+0.0100%	8h	324.90	+0.532%	$27.0M	$129.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	324.50	+0.408%	$14.3M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.54	+0.421%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	324.72	+0.477%	$36.6M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.42	+0.074%	$83K	$971K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.08	−0.031%	$1K	$2.0M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	323.18	long leg	$118K	$566K	20x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.80	+0.192%	$3.3M	$8.1M	50x	as long as short
Popdex TAOUSDT	+0.0104%	1h	325.08	+0.588%	$42K	$687K	20x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	325.03	+0.572%	$2K	$963K	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	323.62	+0.137%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	323.53	+0.108%	$53K	$291K	10x	as long as short
edgeX TAOUSDC	+0.0124%	4h	323.29	+0.035%	$43K	$316K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0143%	1h	323.07	−0.034%	$435K	—	100x	as long as short
MEXC TAO_USDT	+0.0144%	4h	324.90	+0.532%	$104.2M	$149.3M	300x	as long as short
Binance TAOUSDT	+0.0148%	4h	324.99	+0.559%	$93.9M	$518.3M	75x	as long as short
Pacifica TAO	+0.0233%	1h	324.62	+0.444%	$369K	$421K	10x	as long as short
Paradex TAO-USD-PERP	+0.0293%	8h	324.70	+0.469%	$15K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0294%	1h	324.15	+0.301%	$6.1M	$21.6M	50x	as long as short
Nado TAO-PERP	+0.0295%	1h	323.33	+0.046%	$816K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0311%	4h	325.02	+0.570%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USD	+0.0323%	1h	323.46	+0.087%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0363%	1h	323.48	+0.094%	$24K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0384%	4h	323.38	+0.062%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0424%	4h	324.89	+0.529%	—	$34.0M	—	as long as short
Bybit TAOUSDT	+0.0429%	4h	324.97	+0.554%	$71.3M	$154.8M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.361%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	325.25	+0.641%	$111K	$377K	5x	as long as short
ApeX Omni TAOUSDT	+0.0495%	1h	323.55	+0.114%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0496%	1h	324.85	+0.515%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	+0.099%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	+0.123%	$5.7M	$10.1M	—	as long as short
Reya TAORUSDPERP	+0.0697%	1h	323.45	+0.083%	$372	—	20x	as long as short
Lighter TAO	+0.0800%	1h	324.92	+0.539%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0808%	1h	324.75	+0.486%	$95.8M	$109.6M	5x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	325.65	+0.764%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0850%	1h	324.07	+0.275%	$321K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	324.00	+0.254%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	325.06	+0.582%	$466K	$651K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.136%	$24K	$2K	12x	as long as short