Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0251%/8h= +27.5% APRpaid last 24h +0.073%

Price spread now: BloFin against Popdex−0.016%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$580.581% of the position

Long on Popdex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.243%+$24 on $10k

Price spread, last 3 days (all we have)+0.075%+$7 · spread now −0.016%, 7d avg +0.024%

Together, before fees+0.318%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.040% cheaper against Popdex than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.024%). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	313.25	0.0096	pay 0.0012% / 1h	39m 06s	$41K	$552K	20x
Short	BloFin TAO-USDT	313.20	0.0347	get 0.0173% / 4h	39m 06s	$4.4M	$10.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Popdex. 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 PopdexbpFee BloFinbpOrdersPrice spread, now −0.016%Rate

Funding earned: $52.69
Price spread: −0.016% → +0.024%: −$3.98
Slippage, 4 orders: −$39.74
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$9.43
Costs to cover: 0.581%
Break-even: 8.3 days

Slippage from Popdex: live order book, 40 min ago; BloFin: live order book, 5 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 Popdex live order book, 40 min ago	3.43 bp	10.9 bp −$11	73.0 bp −$730	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.16 bp	6.2 bp −$6	6.2 bp −$62	35.8 bp −$3,577	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	−0.4478%	1h	313.97	+0.230%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.64	−0.195%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.85	−0.129%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.364%	$23K	$260	12x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	313.25	long leg	$41K	$552K	20x
Pacifica TAO	+0.0100%	1h	313.17	−0.026%	$371K	$369K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.27	+0.006%	$88.6M	$425.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.33	+0.026%	$61.4M	$124.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	−0.048%	$25.1M	$100.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.00	−0.080%	$12.7M	$49.3M	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	313.06	−0.061%	$120.4M	$127.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.98	−0.086%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.04	−0.067%	$34.9M	$46.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.21	−0.013%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.40	−0.271%	$40K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.53	−0.230%	$526K	$948K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.93	−0.102%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.85	−0.128%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.08	−0.054%	$128K	$395K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.83	−0.134%	$3.3M	$7.9M	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.14	−0.036%	$11K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.14	−0.035%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.28	+0.010%	$2K	$541K	5x	as long as short
Polymarket Perps TAO-USD	+0.0116%	1h	313.26	+0.003%	$77K	$520K	5x	as long as short
ApeX Omni TAOUSDT	+0.0118%	1h	312.28	−0.310%	$47K	$270K	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.44	+0.061%	$83K	$626K	5x	as long as short
Paradex TAO-USD-PERP	+0.0187%	8h	313.06	−0.059%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0194%	4h	312.41	−0.269%	$3.9M	$7.0M	—	as long as short
Aster TAOUSDT	+0.0198%	4h	313.08	−0.055%	$1.1M	$7.9M	50x	as long as short
BloFin TAO-USDTshort	+0.0347%	4h	313.20	−0.016%	$4.4M	$10.2M	100x
Deribit TAO_USDC-PERPETUAL	+0.0405%	1h	312.99	−0.082%	$19K	$1.4M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.92	−0.104%	$5.8M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	312.80	−0.142%	$449K	—	100x	as long as short
Nado TAO-PERP	+0.0509%	1h	313.26	+0.004%	$830K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0536%	1h	313.28	+0.010%	$301K	$799K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.80	−0.144%	$327K	$521K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.02	−0.074%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0720%	1h	313.50	+0.080%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	312.94	−0.098%	$863K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.64	+0.444%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.46	+0.069%	$432K	$548K	5x	as long as short
Lighter TAO	+0.1352%	1h	313.47	+0.070%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.1888%	1h	313.64	+0.125%	$97.7M	$83.2M	5x	as long as short