Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0265%/8h= −29.0% APRpaid last 24h −0.009%

Price spread now: OKX against Pacifica−0.030%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now −0.030%, 7d avg −0.034%

Together, before fees−0.163%+ Points / potential airdropPacifica: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.072% in total (about -3.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	315.19	0.0365	pay 0.0046% / 1h	16m 01s	$360K	$412K	10x
Short	OKX TAO-USDT-SWAP	315.10	0.0100	get 0.0100% / 8h	4h 16m	$26.0M	$120.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$55.57
Price spread: −0.030% → −0.034%: $0.45
Slippage, 4 orders: −$20.34
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$93.46
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from Pacifica: live order book, 42 min ago; OKX: 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 Pacifica live order book, 42 min ago	3.49 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.59 bp	9.7 bp −$10	17.2 bp −$172	62.3 bp −$6,233	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
dYdX TAO-USD	0.0000%	1h	314.82	−0.119%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.82	−0.119%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.88	−0.098%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.05	−0.046%	$43K	$669K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.90	−0.093%	$645	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.07	−0.040%	$91.0M	$494.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.12	−0.023%	$67.8M	$148.9M	50x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	315.10	−0.030%	$26.0M	$120.6M	50x
Gate TAO_USDT	+0.0100%	4h	314.80	−0.125%	$12.9M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.96	−0.074%	$110.7M	$144.1M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.58	−0.195%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.76	−0.138%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.96	−0.074%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.17	−0.008%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.17	−0.007%	$521K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.00	−0.062%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.84	−0.112%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.03	−0.052%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.95	−0.077%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.31	−0.280%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.74	−0.144%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.22	+0.008%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.99	−0.065%	$56K	$266K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0146% / S +0.0121%	1h	314.84	−0.112%	$428K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0159%	8h	315.06	−0.043%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0185%	4h	315.00	−0.062%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	314.93	−0.083%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0205%	1h	315.17	−0.008%	$801K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0265%	1h	315.00	−0.062%	$92.7M	$106.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0288%	1h	315.21	+0.005%	$25K	$1.7M	25x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	315.15	−0.014%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.30	+0.034%	$4.6M	$10.9M	100x	as long as short
Lighter TAO	+0.0344%	1h	315.23	+0.010%	$1.5M	$6.5M	5x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.34	+0.046%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0348%	1h	314.97	−0.071%	$315K	$913K	10x	as long as short
Pacifica TAOlong	+0.0365%	1h	315.19	long leg	$360K	$412K	10x
Variational Omni TAO	+0.0461%	4h	315.17	−0.008%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.40	+0.065%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.86	−0.106%	$362	—	20x	as long as short
Bulk TAO-USD	+0.0933%	1h	314.34	−0.271%	$167K	$2K	10x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.07	−0.038%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.12	+0.294%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.160%	$23K	$2K	12x	as long as short