Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Bullet against Pacifica+0.002%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	310.97	0.0100	pay 0.0013% / 1h	23m 31s	$354K	$414K	10x
Short	Bullet TAO-USD	310.98	0.0100	get 0.0013% / 1h	23m 31s	$11K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Pacifica. 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 PacificabpFee BulletbpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → 0.000%: $0.2
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$15.8
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 30 min ago; Bullet: no order-book sample. 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 Pacifica live order book, 30 min ago	2.22 bp	6.7 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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
Kraken Futures PF_TAOUSD	−0.0350%	1h	310.11	−0.278%	$5.5M	$20.6M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	310.72	−0.081%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0013%	1h	310.54	−0.137%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	310.86	−0.036%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	310.60	−0.120%	$2K	$843K	5x	as long as short
Pacifica TAOlong	+0.0100%	1h	310.97	long leg	$354K	$414K	10x
Binance TAOUSDT	+0.0100%	4h	310.87	−0.031%	$89.1M	$500.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	310.97	−0.001%	$67.0M	$150.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	310.80	−0.055%	$25.9M	$120.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	310.60	−0.120%	$13.2M	$50.1M	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_USDT	+0.0100%	4h	310.84	−0.042%	$101.9M	$145.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	310.79	−0.058%	$17.7M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.55	−0.136%	$34.8M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	310.78	−0.062%	—	$33.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.00	+0.010%	$41K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	310.69	−0.089%	$528K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	310.75	−0.071%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	310.70	−0.087%	$79K	$900K	5x	as long as short
Bullet TAO-USDshort	+0.0100%	1h	310.98	+0.002%	$11K	$18K	20x
SunX TAO-USDT	+0.0100%	4h	310.49	−0.155%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.61	−0.438%	$109K	$541K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.48	−0.158%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0106%	4h	310.64	−0.106%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0116%	4h	310.53	−0.142%	$51K	$291K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0137% / S +0.0135%	1h	310.37	−0.194%	$412K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0141%	8h	310.89	−0.025%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.12	+0.048%	$101K	$394K	5x	as long as short
Phemex TAOUSDT	+0.0275%	4h	310.24	−0.235%	$3.1M	$8.0M	50x	as long as short
Variational Omni TAO	+0.0294%	4h	311.14	+0.053%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0304%	1h	310.80	−0.056%	$904K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	310.95	−0.007%	$4.5M	$10.7M	100x	as long as short
Nado TAO-PERP	+0.0353%	1h	310.71	−0.083%	$783K	$2.2M	10x	as long as short
Phoenix TAO	+0.0457%	1h	311.10	+0.041%	$310K	$711K	5x	as long as short
Hyperliquid TAO	+0.0461%	1h	311.06	+0.028%	$91.4M	$107.7M	5x	as long as short
01 Exchange TAOUSD	+0.0480%	1h	311.02	+0.016%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0490%	1h	310.59	−0.123%	$309K	$885K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0516%	1h	310.24	−0.234%	$16K	$1.8M	25x	as long as short
Lighter TAO	+0.0576%	1h	311.20	+0.074%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	310.85	−0.041%	$357	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	310.88	−0.029%	$442K	$655K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.016%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	311.60	+0.202%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	315.24	+1.373%	$23K	$2K	12x	as long as short