Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0692%/8h= +75.8% APRpaid last 24h +0.092%

Price spread now: 01 Exchange against Phemex+0.147%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and 01 Exchange is 0.147% dearer against Phemex than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	319.30	0.0100	pay 0.0050% / 4h	2h 10m	$3.2M	$8.1M	50x
Short	01 Exchange TAOUSD	319.77	0.0792	get 0.0099% / 1h	10m 44s	$3K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.147%Rate

Funding earned: $145.32
Price spread: +0.147% → 0.000%: $14.72
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $141.04
Costs to cover: 0.190%
Break-even: 0.2 days

Slippage unknown: Phemex: live order book, 3 min ago; 01 Exchange: 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 Phemex live order book, 3 min ago	8.77 bp	19.0 bp −$19	34.6 bp −$346	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Bulk TAO-USD	−0.1195%	1h	319.01	−0.090%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.07	−0.072%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0031%	1h	319.43	+0.041%	$127K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.70	+0.125%	$26.7M	$125.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.40	+0.031%	$14.3M	$51.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.45	+0.047%	$17.6M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.45	+0.047%	$36.0M	$57.3M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.36	+0.019%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.07	−0.072%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.74	−0.175%	$116K	$565K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDTlong	+0.0100%	4h	319.30	long leg	$3.2M	$8.1M	50x
Aevo TAO-PERP	+0.0104%	1h	319.72	+0.131%	$176K	$998	3x	as long as short
edgeX TAOUSDC	+0.0104%	4h	319.21	−0.027%	$42K	$314K	10x	as long as short
Binance TAOUSDT	+0.0110%	4h	319.82	+0.162%	$91.7M	$513.3M	75x	as long as short
MEXC TAO_USDT	+0.0110%	4h	319.66	+0.113%	$101.6M	$148.1M	300x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	319.18	−0.038%	$3K	$946K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0116%	4h	319.41	+0.034%	$53K	$291K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0141%	1h	319.02	−0.088%	$429K	—	100x	as long as short
Popdex TAOUSDT	+0.0128%	1h	319.46	+0.050%	$54K	$671K	20x	as long as short
Pacifica TAO	+0.0233%	1h	319.13	−0.053%	$364K	$420K	10x	as long as short
Aster TAOUSDT	+0.0272%	4h	319.47	+0.053%	$1.3M	$10.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0276%	8h	319.10	−0.062%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0292%	1h	319.33	+0.010%	$802K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0298%	1h	319.56	+0.082%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0319%	1h	319.38	+0.025%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0350%	4h	319.59	+0.091%	$3.7M	$11.0M	100x	as long as short
BingX TAO-USDT	+0.0388%	4h	319.80	+0.157%	—	$33.8M	—	as long as short
Bybit TAOUSDT	+0.0396%	4h	319.89	+0.185%	$70.1M	$153.6M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0436%	4h	318.55	−0.234%	$545K	$935K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	319.65	+0.110%	$109K	$351K	5x	as long as short
Variational Omni TAO	+0.0485%	4h	319.46	+0.050%	$5.6M	$10.1M	—	as long as short
Extended TAO-USD	+0.0496%	1h	319.55	+0.077%	$906K	$2.4M	25x	as long as short
ApeX Omni TAOUSDT	+0.0508%	1h	319.61	+0.097%	$47K	$256K	50x	as long as short
Phoenix TAO	+0.0513%	1h	318.90	−0.125%	$317K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0528%	1h	319.42	+0.036%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	319.34	+0.014%	$367	—	20x	as long as short
01 Exchange TAOUSDshort	+0.0792%	1h	319.77	+0.147%	$3K	$4K	5x
Lighter TAO	+0.0792%	1h	320.01	+0.222%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0806%	1h	319.98	+0.213%	$93.9M	$109.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0832%	1h	319.54	+0.075%	$317K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	320.14	+0.263%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	319.33	+0.009%	$461K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+1.140%	$23K	$2K	12x	as long as short