Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h −0.009%

Price spread now: Deribit against MEXC+0.157%52s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.222% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now +0.157%, 7d avg +0.027%

Together, before fees−0.259%−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.131% dearer against MEXC than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.027%. Mind the row above: over the last 7 days funding on this pair cost −0.136%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC TAO_USDT	312.33	0.0100	pay 0.0050% / 4h	41m 28s	$120.1M	$127.7M	300x
Short	Deribit TAO_USDC-PERPETUAL	312.82	0.0216	get 0.0027% / 1h	41m 28s	$19K	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.157%Rate

Funding earned: $24.36
Price spread: +0.157% → +0.027%: $13.06
Slippage, 4 orders: −$15.19
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $15.22
Costs to cover: 0.222%
Break-even: 2.6 days

Slippage from MEXC: live order book, 3 min ago; Deribit: live order book, 3 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, 3 min ago	0.16 bp	0.6 bp −$1	4.2 bp −$42	23.5 bp −$2,354	94.4 bp −$47.2K
Sell Deribit live order book, 3 min ago	2.40 bp	6.9 bp −$7	doesn't fit	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
Bulk TAO-USD	−0.4722%	1h	314.01	+0.538%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.08	−0.081%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.25	−0.027%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.660%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.41	+0.026%	$41K	$551K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.39	+0.018%	$370K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.41	+0.025%	$88.4M	$424.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.53	+0.064%	$61.2M	$123.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.20	−0.042%	$25.0M	$100.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.20	−0.042%	$12.7M	$49.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDTlong	+0.0100%	4h	312.33	long leg	$120.1M	$127.7M	300x
KuCoin TAOUSDTM	+0.0100%	4h	312.38	+0.016%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.11	−0.070%	$34.8M	$46.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.41	+0.026%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.83	+0.161%	$40K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.13	+0.577%	$529K	$948K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.34	+0.003%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.61	+0.090%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.02	+0.541%	$128K	$395K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.63	+0.096%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.43	+0.032%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	312.41	+0.026%	$2K	$541K	5x	as long as short
Bullet TAO-USD	+0.0118%	1h	312.43	+0.032%	$11K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0126%	1h	312.47	+0.045%	$76K	$521K	5x	as long as short
Arcus TAO-USD	+0.0186%	1h	312.76	+0.138%	$83K	$626K	5x	as long as short
Variational Omni TAO	+0.0188%	4h	313.49	+0.370%	$3.9M	$7.0M	—	as long as short
Paradex TAO-USD-PERP	+0.0188%	8h	312.27	−0.020%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0202%	4h	312.39	+0.019%	$1.1M	$7.9M	50x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0216%	1h	312.82	+0.157%	$19K	$1.4M	25x
ApeX Omni TAOUSDT	+0.0226%	1h	312.79	+0.147%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0351%	4h	312.54	+0.067%	$4.3M	$10.2M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.75	+0.134%	$5.8M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.20	−0.043%	$448K	—	100x	as long as short
Nado TAO-PERP	+0.0528%	1h	312.39	+0.020%	$830K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	+0.086%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0570%	1h	312.50	+0.054%	$300K	$799K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.26	−0.022%	$359	—	20x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	312.47	+0.045%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	312.24	−0.030%	$863K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.64	+0.740%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	312.56	+0.075%	$430K	$537K	5x	as long as short
Lighter TAO	+0.1408%	1h	312.70	+0.119%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.1955%	1h	312.79	+0.147%	$97.4M	$83.3M	5x	as long as short