Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.110%

Price spread now: Kraken Futures against KuCoin+0.664%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

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

Long on KuCoin Short on Kraken Futures

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)−0.602%−$60 · spread now +0.664%, 7d avg +0.047%

Together, before fees−0.365%−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.618% dearer against KuCoin than usual: you sell high and buy low: +$62 more if the spread goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TAOUSDTM	315.60	0.0100	pay 0.0050% / 4h	1h 50m	$18.1M	$30.6M	75x
Short	Kraken Futures PF_TAOUSD	317.70	0.0247	get 0.0031% / 1h	50m 26s	$5.6M	$20.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.664%Rate

Funding earned: $30.86
Price spread: +0.664% → +0.047%: $61.77
Slippage, 4 orders: −$48.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $22.61
Costs to cover: 0.700%
Break-even: 1.9 days

Slippage from KuCoin: live order book, 4 min ago; Kraken Futures: 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 KuCoin live order book, 4 min ago	2.99 bp	17.6 bp −$18	38.9 bp −$389	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	5.99 bp	21.1 bp −$21	41.7 bp −$417	146.3 bp −$14.6K	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	+0.497%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.49	+0.283%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.22	+0.512%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.34	−0.082%	$45K	$645K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.34	−0.082%	$91.2M	$468.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.30	−0.095%	$26.0M	$114.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.40	−0.063%	$12.9M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.39	−0.067%	$104.3M	$137.8M	300x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	315.60	long leg	$18.1M	$30.6M	75x
Bitget TAOUSDT	+0.0100%	4h	315.05	−0.174%	$35.2M	$53.5M	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	+0.714%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.20	−0.127%	$77K	$756K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.63	+0.643%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.29	+0.535%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.80	+0.697%	$130K	$474K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.64	+0.646%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.86	+0.715%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	315.41	−0.060%	$670	$743K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0164% / S +0.0104%	1h	317.19	+0.504%	$431K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0216%	4h	318.53	+0.928%	$530K	$946K	10x	as long as short
Kraken Futures PF_TAOUSDshort	+0.0247%	1h	317.70	+0.664%	$5.6M	$20.5M	50x
Aster TAOUSDT	+0.0300%	4h	317.09	+0.474%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0314%	1h	315.40	−0.065%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0345%	8h	316.90	+0.411%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0448%	1h	316.42	+0.260%	$374K	$393K	10x	as long as short
ApeX Omni TAOUSDT	+0.0473%	1h	317.85	+0.713%	$48K	$253K	50x	as long as short
Phoenix TAO	+0.0504%	1h	317.80	+0.697%	$333K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	315.61	+0.003%	$99K	$489K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0534%	1h	317.60	+0.635%	$14K	$1.6M	25x	as long as short
Nado TAO-PERP	+0.0612%	1h	315.37	−0.072%	$760K	$2.1M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.27	−0.106%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0700%	4h	315.42	−0.057%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0726%	4h	315.43	−0.054%	$67.0M	$139.0M	50x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	315.44	−0.051%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0881%	4h	317.62	+0.641%	$6.0M	$9.6M	—	as long as short
Backpack TAO_USDC_PERP	+0.0909%	1h	317.67	+0.656%	$321K	$802K	10x	as long as short
Extended TAO-USD	+0.0936%	1h	315.37	−0.073%	$896K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.77	+1.321%	$1.5M	$6.5M	50x	as long as short
Lighter TAO	+0.1128%	1h	317.14	+0.489%	$1.6M	$6.1M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	315.20	−0.126%	$446K	$626K	5x	as long as short
Hyperliquid TAO	+0.1423%	1h	315.74	+0.044%	$99.9M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.692%	$23K	$2K	12x	as long as short