Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0139%/8h= +15.3% APRpaid last 24h −0.013%

Price spread now: Phemex against Pacifica−0.001%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$510.506% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.499%−$50 on $10k

Price spread, last 4 days (all we have)+0.089%+$9 · spread now −0.001%, 7d avg 0.000%

Together, before fees−0.411%+ Points / potential airdropPacifica: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.499%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	317.01	0.0525	pay 0.0066% / 1h	2m 04s	$360K	$429K	10x
Short	Phemex TAOUSDT	317.01	0.0664	get 0.0332% / 4h	1h 02m	$3.2M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.001%Rate

Funding earned: $29.27
Price spread: −0.001% → 0.000%: −$0.1
Slippage, 4 orders: −$30.63
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$21.46
Costs to cover: 0.506%
Break-even: 12.1 days

Slippage from Pacifica: live order book, 41 min ago; Phemex: live order book, 2 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, 41 min ago	2.97 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.89 bp	19.2 bp −$19	37.1 bp −$371	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	−0.0237%	1h	320.94	+1.239%	$171K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.41	−0.190%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.52	−0.157%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.23	+0.068%	$43K	$707K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.80	−0.067%	$26.5M	$129.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.60	−0.130%	$14.3M	$52.5M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.84	−0.055%	$17.6M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.62	−0.124%	$35.6M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.23	+0.699%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.87	−0.045%	$84K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	316.74	−0.086%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.66	−0.112%	$115K	$600K	20x	as long as short
Katana Perps TAO-USD	+0.0108%	8h	317.23	+0.068%	$720	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0112% / S +0.0154%	1h	316.57	−0.140%	$423K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	316.94	−0.024%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	316.75	−0.083%	$53K	$293K	10x	as long as short
MEXC TAO_USDT	+0.0178%	4h	316.98	−0.011%	$107.0M	$152.0M	300x	as long as short
Binance TAOUSDT	+0.0178%	4h	317.02	+0.003%	$92.0M	$528.9M	75x	as long as short
edgeX TAOUSDC	+0.0186%	4h	319.32	+0.728%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	317.11	+0.030%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0256%	4h	316.89	−0.039%	—	$36.7M	—	as long as short
Bybit TAOUSDT	+0.0256%	4h	317.18	+0.053%	$69.5M	$156.0M	50x	as long as short
Bullet TAO-USD	+0.0300%	1h	316.96	−0.016%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0338%	4h	317.02	+0.001%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0344%	1h	316.82	−0.061%	$904K	$2.4M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0356%	4h	318.52	+0.475%	$543K	$926K	10x	as long as short
BloFin TAO-USDT	+0.0418%	4h	317.35	+0.106%	$4.7M	$11.0M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0505%	1h	316.84	−0.056%	$15K	$2.0M	25x	as long as short
Variational Omni TAO	+0.0514%	4h	319.69	+0.844%	$5.7M	$10.2M	—	as long as short
Nado TAO-PERP	+0.0515%	1h	317.07	+0.017%	$786K	$2.0M	10x	as long as short
Pacifica TAOlong	+0.0525%	1h	317.01	long leg	$360K	$429K	10x
Phoenix TAO	+0.0567%	1h	318.10	+0.343%	$317K	$709K	5x	as long as short
Lighter TAO	+0.0576%	1h	317.01	−0.001%	$1.6M	$6.9M	5x	as long as short
Hyperliquid TAO	+0.0582%	1h	317.09	+0.024%	$93.8M	$110.0M	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	317.37	+0.112%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	317.47	+0.144%	$102K	$389K	5x	as long as short
Phemex TAOUSDTshort	+0.0664%	4h	317.01	−0.001%	$3.2M	$8.2M	50x
Backpack TAO_USDC_PERP	+0.0664%	1h	316.97	−0.014%	$295K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.96	−0.018%	$364	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	317.68	+0.210%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	317.22	+0.065%	$437K	$678K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1164%	1h	316.98	−0.009%	$5.9M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.52	+2.052%	$24K	$2K	12x	as long as short