Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.016%

Price spread now: HTX against Phemex+0.056%7-day average −0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1511.515% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.363%+$36 on $10k

Price spread, last 4 days (all we have)−0.219%−$22 · spread now +0.056%, 7d avg −0.112%

Together, before fees+0.143%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.168% dearer against Phemex than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.112%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	322.86	0.0100	pay 0.0050% / 4h	2h 57m	$3.2M	$8.1M	50x
Short	HTX TAO-USDT	323.04	0.0100	get 0.0050% / 4h	2h 57m	$118K	$554K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. 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 PhemexbpFee HTXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → −0.112%: $16.82
Slippage, 4 orders: −$127.47
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$134.65
Costs to cover: 1.515%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; HTX: live order book, 36 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 Phemex live order book, 2 min ago	11.47 bp	19.3 bp −$19	49.5 bp −$495	doesn't fit	doesn't fit
Sell HTX live order book, 36 min ago	16.57 bp	22.8 bp −$23	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	−0.0985%	1h	321.65	−0.375%	$171K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	+0.418%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	323.08	+0.068%	$52K	$703K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	322.94	+0.025%	$71.0M	$155.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	322.80	−0.019%	$27.0M	$131.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.80	−0.019%	$15.4M	$47.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.15	+0.090%	$17.7M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.34	−0.161%	$36.4M	$56.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.94	+0.025%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.84	−0.006%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDTshort	+0.0100%	4h	323.04	+0.056%	$118K	$554K	20x
Phemex TAOUSDTlong	+0.0100%	4h	322.86	long leg	$3.2M	$8.1M	50x
Katana Perps TAO-USD	+0.0115%	8h	322.55	−0.096%	$1K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	323.17	+0.097%	$177K	$998	3x	as long as short
Binance TAOUSDT	+0.0156%	4h	323.09	+0.071%	$95.1M	$520.0M	75x	as long as short
BingX TAO-USDT	+0.0158%	4h	323.11	+0.077%	—	$39.0M	—	as long as short
edgeX TAOUSDC	+0.0158%	4h	323.48	+0.191%	$43K	$321K	10x	as long as short
MEXC TAO_USDT	+0.0160%	4h	323.19	+0.102%	$107.1M	$149.0M	300x	as long as short
Paradex TAO-USD-PERP	+0.0224%	8h	322.20	−0.204%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0247%	4h	323.26	+0.124%	$54K	$274K	10x	as long as short
Extended TAO-USD	+0.0288%	1h	322.55	−0.096%	$973K	$2.2M	25x	as long as short
Pacifica TAO	+0.0301%	1h	322.20	−0.205%	$375K	$439K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0304%	4h	323.87	+0.311%	$550K	$826K	10x	as long as short
Aster TAOUSDT	+0.0320%	4h	322.97	+0.035%	$1.3M	$11.2M	50x	as long as short
Arcus TAO-USD	+0.0364%	1h	322.64	−0.068%	$102K	$329K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0369% / S −0.0109%	1h	323.08	+0.068%	$383K	—	100x	as long as short
ApeX Omni TAOUSDT	+0.0392%	1h	323.88	+0.316%	$46K	$256K	50x	as long as short
BloFin TAO-USDT	+0.0396%	4h	323.31	+0.139%	$4.9M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0515%	1h	322.94	+0.026%	$740K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0522%	4h	323.77	+0.280%	$5.7M	$9.8M	—	as long as short
Phoenix TAO	+0.0578%	1h	323.80	+0.291%	$326K	$712K	5x	as long as short
Bullet TAO-USD	+0.0583%	1h	323.01	+0.047%	$13K	$17K	20x	as long as short
Lighter TAO	+0.0648%	1h	323.43	+0.175%	$1.6M	$6.6M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0672%	1h	323.45	+0.183%	$6.3M	$20.9M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	322.85	−0.002%	$371	—	20x	as long as short
RISEx TAO/USDC	+0.0701%	1h	322.33	−0.163%	$445K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	322.79	−0.022%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0796%	1h	323.22	+0.112%	$301K	$1.1M	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	322.51	−0.108%	$1.1M	$7.5M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0865%	1h	323.31	+0.138%	$20K	$1.9M	25x	as long as short
dYdX TAO-USD	+0.1078%	1h	321.77	−0.338%	$271K	$232K	5x	as long as short
Hyperliquid TAO	+0.1245%	1h	323.47	+0.189%	$97.7M	$110.1M	5x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	327.96	+1.580%	$24K	$2K	12x	as long as short