Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h −0.001%

Price spread now: MEXC against Katana Perps−0.132%7-day average −0.026% · you buy dearer than you sell

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

Long on Katana Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.150%−$15 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now −0.132%, 7d avg −0.026%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and MEXC is 0.105% cheaper against Katana Perps than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	319.01	0.0114	pay 0.0114% / 8h	7h 23m	$738	$624K	5x
Short	MEXC TAO_USDT	318.59	0.0100	get 0.0050% / 4h	3h 23m	$109.1M	$135.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Katana Perps. 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 Katana PerpsbpFee MEXCbpOrdersPrice spread, now −0.132%Rate

Funding earned: −$3.02
Price spread: −0.132% → −0.026%: −$10.55
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$17.37
Costs to cover: 0.038%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; MEXC: live order book, 1 min ago. 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 Katana Perps no order-book sample	—	—	—	—	—
Sell MEXC live order book, 1 min ago	0.94 bp	1.6 bp −$2	8.1 bp −$81	25.6 bp −$2,558	111.9 bp −$56.0K

Katana Perps: 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
Bulk TAO-USD	−0.1321%	1h	318.22	−0.248%	$169K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.91	−0.345%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.34	−0.211%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.99	−0.006%	$43K	$592K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.52	−0.154%	$91.7M	$447.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.60	−0.129%	$26.1M	$108.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.40	−0.191%	$12.9M	$50.8M	50x	as long as short
MEXC TAO_USDTshort	+0.0100%	4h	318.59	−0.132%	$109.1M	$135.2M	300x
KuCoin TAOUSDTM	+0.0100%	4h	318.48	−0.166%	$18.2M	$29.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.44	−0.179%	$35.5M	$50.9M	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	318.41	−0.187%	$40K	$292K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	318.34	−0.211%	$526K	$960K	10x	as long as short
Bullet TAO-USD	+0.0100%	1h	318.61	−0.126%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.45	−0.176%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.25	−0.238%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.82	−0.060%	$127K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.44	−0.179%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.02	+0.002%	$175K	$998	3x	as long as short
Katana Perps TAO-USDlong	+0.0114%	8h	319.01	long leg	$738	$624K	5x
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0093%	1h	318.35	−0.207%	$458K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.49	−0.163%	$377K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.11	+0.031%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0225%	4h	318.50	−0.160%	$1.2M	$8.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	318.30	−0.222%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0241%	1h	318.52	−0.155%	$17K	$1.5M	25x	as long as short
Polymarket Perps TAO-USD	+0.0290%	1h	318.68	−0.103%	$93K	$635K	5x	as long as short
ApeX Omni TAOUSDT	+0.0316%	1h	317.14	−0.586%	$49K	$267K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.41	−0.188%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0398%	4h	318.61	−0.125%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0460%	4h	318.45	−0.175%	$5.5M	$8.7M	—	as long as short
Kraken Futures PF_TAOUSD	+0.0481%	1h	318.47	−0.170%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	318.10	−0.285%	$333K	$624K	5x	as long as short
Bybit TAOUSDT	+0.0561%	4h	318.83	−0.056%	$65.7M	$133.1M	50x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	322.97	+1.241%	$23K	$678	12x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	319.05	+0.013%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	318.51	−0.158%	$366	—	20x	as long as short
Nado TAO-PERP	+0.0770%	1h	318.65	−0.112%	$891K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0835%	1h	318.15	−0.270%	$321K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.63	−0.119%	$1.5M	$6.3M	50x	as long as short
Extended TAO-USD	+0.1120%	1h	318.44	−0.178%	$926K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	319.13	+0.036%	$423K	$592K	5x	as long as short
Lighter TAO	+0.1440%	1h	318.97	−0.013%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2006%	1h	319.05	+0.013%	$103.2M	$91.0M	5x	as long as short