Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h −0.110%

Price spread now: KuCoin against Kraken Futures+0.316%7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$700.700% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 3 days (all we have)−0.378%−$38 · spread now +0.316%, 7d avg −0.047%

Together, before fees−0.615%−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.362% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.316% now, against its 7-day average of −0.047%): +$36 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 8.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	315.15	0.0249	pay 0.0031% / 1h	49m 36s	$5.6M	$20.5M	50x
Short	KuCoin TAOUSDTM	316.15	0.0100	get 0.0050% / 4h	1h 49m	$18.1M	$30.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now +0.316%Rate

Funding earned: −$31.28
Price spread: +0.316% → −0.047%: $36.25
Slippage, 4 orders: −$48.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$65.05
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; KuCoin: live order book, 4 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 Kraken Futures live order book, 4 min ago	5.99 bp	12.3 bp −$12	23.6 bp −$236	119.0 bp −$11.9K	doesn't fit
Sell KuCoin live order book, 4 min ago	2.99 bp	19.1 bp −$19	26.7 bp −$267	doesn't fit	doesn't fit

TAO on 42 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	−0.2257%	1h	317.17	+0.639%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.04	+0.281%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.32	+0.052%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.20	+0.332%	$46K	$649K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.20	+0.333%	$91.4M	$468.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.20	+0.332%	$26.1M	$115.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.00	+0.268%	$12.9M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.08	+0.294%	$104.7M	$137.9M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	316.15	+0.316%	$18.1M	$30.6M	75x
Bitget TAOUSDT	+0.0100%	4h	315.88	+0.230%	$35.3M	$53.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.85	+0.857%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.20	+0.014%	$77K	$756K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.50	+0.110%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.01	−0.046%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.56	−0.189%	$129K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.27	+0.037%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.59	+0.140%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	316.33	+0.373%	$1K	$744K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0164% / S +0.0105%	1h	315.00	−0.049%	$428K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0212%	4h	317.35	+0.696%	$528K	$946K	10x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0249%	1h	315.15	long leg	$5.6M	$20.5M	50x
Aster TAOUSDT	+0.0291%	4h	316.16	+0.319%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0314%	1h	315.40	+0.076%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0341%	8h	316.16	+0.320%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0378%	1h	315.28	+0.041%	$30K	$1.6M	25x	as long as short
Pacifica TAO	+0.0448%	1h	316.36	+0.382%	$373K	$396K	10x	as long as short
ApeX Omni TAOUSDT	+0.0473%	1h	317.85	+0.855%	$48K	$253K	50x	as long as short
Phoenix TAO	+0.0504%	1h	317.80	+0.839%	$333K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.48	+0.420%	$100K	$489K	5x	as long as short
Nado TAO-PERP	+0.0612%	1h	315.37	+0.069%	$760K	$2.1M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.27	+0.035%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0700%	4h	316.15	+0.316%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0720%	4h	316.33	+0.373%	$67.4M	$139.2M	50x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	316.38	+0.389%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0878%	1h	315.35	+0.062%	$319K	$802K	10x	as long as short
Variational Omni TAO	+0.0881%	4h	317.62	+0.783%	$6.0M	$9.6M	—	as long as short
Extended TAO-USD	+0.0928%	1h	316.04	+0.280%	$896K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.77	+1.464%	$1.5M	$6.5M	50x	as long as short
Lighter TAO	+0.1056%	1h	316.49	+0.425%	$1.5M	$6.3M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.28	+0.357%	$447K	$626K	5x	as long as short
Hyperliquid TAO	+0.1429%	1h	316.86	+0.541%	$100.2M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.836%	$23K	$2K	12x	as long as short