Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0792%/8h= +86.7% APRpaid last 24h +0.249%

Price spread now: Coinbase International against MEXC+0.301%7-day average +0.188% · you sell dearer than you buy

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.645%+$65 on $10k

Price spread, last 4 days (all we have)−0.153%−$15 · spread now +0.301%, 7d avg +0.188%

Together, before fees+0.492%+$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Coinbase International is 0.114% dearer against MEXC than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.188%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC TAO_USDT	318.80	0.0192	pay 0.0096% / 4h	5m 17s	$104.3M	$152.9M	300x
Short	Coinbase International TAO-PERP-INTX	319.76	0.0984	get 0.0123% / 1h	5m 17s	$1.3M	$7.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.301%Rate

Funding earned: $166.32
Price spread: +0.301% → +0.188%: $11.36
Slippage, 4 orders: −$22.33
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $145.34
Costs to cover: 0.323%
Break-even: 0.9 days

Slippage from MEXC: live order book, 4 min ago; Coinbase International: 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 MEXC live order book, 4 min ago	0.16 bp	2.6 bp −$3	10.2 bp −$102	28.4 bp −$2,835	102.2 bp −$51.1K
Sell Coinbase International live order book, 4 min ago	5.31 bp	11.1 bp −$11	16.0 bp −$160	doesn't fit	doesn't fit

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	318.46	−0.107%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0063%	1h	318.46	−0.107%	$128K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.85	+0.016%	$49K	$716K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.70	−0.031%	$26.5M	$132.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.50	−0.094%	$14.8M	$52.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.69	−0.035%	$17.9M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.57	−0.072%	$35.9M	$58.1M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.70	−0.031%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.56	−0.075%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.18	−0.194%	$117K	$592K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX TAO/USD [WBTC.b-USDC]	L +0.0103% / S +0.0138%	1h	318.49	−0.096%	$411K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	318.65	−0.047%	$652	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	318.90	+0.030%	$175K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0138%	1h	318.99	+0.060%	$46K	$259K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0181%	4h	318.74	−0.019%	$52K	$295K	10x	as long as short
Binance TAOUSDT	+0.0189%	4h	318.86	+0.019%	$93.3M	$533.4M	75x	as long as short
MEXC TAO_USDTlong	+0.0192%	4h	318.80	long leg	$104.3M	$152.9M	300x
edgeX TAOUSDC	+0.0195%	4h	319.07	+0.085%	$42K	$320K	10x	as long as short
Bulk TAO-USD	+0.0217%	1h	317.92	−0.275%	$169K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0263%	8h	318.63	−0.054%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0278%	4h	318.76	−0.013%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0282%	4h	318.89	+0.028%	$70.1M	$157.2M	50x	as long as short
Bullet TAO-USD	+0.0305%	1h	318.80	0.000%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	318.69	−0.035%	$374K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0314%	4h	318.68	−0.039%	$542K	$896K	10x	as long as short
Aster TAOUSDT	+0.0350%	4h	318.69	−0.035%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	318.74	−0.019%	$906K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0429%	4h	318.88	+0.025%	$4.7M	$11.0M	100x	as long as short
Phemex TAOUSDT	+0.0435%	4h	318.62	−0.056%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0472%	1h	318.75	−0.015%	$777K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	319.10	+0.094%	$100K	$384K	5x	as long as short
Variational Omni TAO	+0.0574%	4h	318.65	−0.046%	$5.6M	$10.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0599%	1h	318.74	−0.019%	$15K	$1.9M	25x	as long as short
Phoenix TAO	+0.0629%	1h	319.30	+0.157%	$321K	$703K	5x	as long as short
Lighter TAO	+0.0648%	1h	319.05	+0.079%	$1.6M	$6.9M	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	318.95	+0.047%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0695%	1h	318.95	+0.047%	$94.4M	$110.2M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	318.71	−0.027%	$367	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0713%	1h	318.82	+0.006%	$440K	$981K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0831%	1h	318.96	+0.051%	$6.0M	$21.7M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.77	−0.008%	$452K	$662K	5x	as long as short
Coinbase International TAO-PERP-INTXshort	+0.0984%	1h	319.76	+0.301%	$1.3M	$7.2M	50x
Injective TAO/USDC PERP	+0.4513%	1h	322.44	+1.142%	$23K	$2K	12x	as long as short