Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Gate against Popdex−0.038%7-day average −0.035% · 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−$52as in the Price arb table

costs, in and out, $10k−$520.517% of the position

Long on Popdex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.038%, 7d avg −0.035%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	317.92	0.0096	pay 0.0012% / 1h	16m 51s	$45K	$714K	20x
Short	Gate TAO_USDT	317.80	0.0100	get 0.0050% / 4h	16m 51s	$14.7M	$52.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.038%Rate

Funding earned: $0.84
Price spread: −0.038% → −0.035%: −$0.28
Slippage, 4 orders: −$30.29
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$51.13
Costs to cover: 0.517%
Break-even: 433.1 days

Slippage from Popdex: live order book, 22 min ago; Gate: 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 Popdex live order book, 22 min ago	2.21 bp	10.1 bp −$10	72.5 bp −$725	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.58 bp	16.3 bp −$16	37.3 bp −$373	71.6 bp −$7,162	118.1 bp −$59.0K

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.62	−0.094%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0073%	1h	317.94	+0.007%	$127K	$85K	5x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	317.92	long leg	$45K	$714K	20x
OKX TAO-USDT-SWAP	+0.0100%	8h	318.00	+0.025%	$26.5M	$131.2M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	317.80	−0.038%	$14.7M	$52.0M	50x
KuCoin TAOUSDTM	+0.0100%	4h	317.93	+0.003%	$17.9M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.72	−0.063%	$35.7M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.50	−0.132%	$46K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.85	−0.022%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.66	−0.082%	$2K	$2.0M	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-USDT	+0.0100%	4h	317.27	−0.204%	$116K	$602K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0104% / S +0.0139%	1h	317.55	−0.116%	$405K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	317.72	−0.063%	$2K	$1.1M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	318.09	+0.053%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0168%	4h	317.91	−0.003%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0171%	4h	317.59	−0.103%	$42K	$320K	10x	as long as short
MEXC TAO_USDT	+0.0176%	4h	318.04	+0.038%	$103.2M	$152.4M	300x	as long as short
Binance TAOUSDT	+0.0185%	4h	318.03	+0.033%	$92.0M	$531.5M	75x	as long as short
Paradex TAO-USD-PERP	+0.0252%	8h	318.13	+0.065%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0258%	4h	318.07	+0.047%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0260%	4h	318.16	+0.075%	$69.7M	$156.9M	50x	as long as short
Bullet TAO-USD	+0.0284%	1h	317.90	−0.006%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	318.22	+0.094%	$373K	$466K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0324%	4h	317.89	−0.010%	$541K	$907K	10x	as long as short
Aster TAOUSDT	+0.0347%	4h	317.99	+0.022%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0376%	1h	318.02	+0.033%	$903K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0425%	4h	318.03	+0.035%	$4.7M	$10.9M	100x	as long as short
Phemex TAOUSDT	+0.0431%	4h	317.84	−0.025%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0464%	1h	318.08	+0.051%	$784K	$2.0M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0469%	1h	317.88	−0.012%	$15K	$1.9M	25x	as long as short
Arcus TAO-USD	+0.0473%	1h	318.33	+0.129%	$100K	$384K	5x	as long as short
Lighter TAO	+0.0544%	1h	318.09	+0.054%	$1.6M	$6.9M	5x	as long as short
Variational Omni TAO	+0.0557%	4h	315.52	−0.755%	$5.5M	$10.2M	—	as long as short
Phoenix TAO	+0.0629%	1h	318.40	+0.151%	$320K	$703K	5x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	318.17	+0.079%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0683%	1h	317.96	+0.013%	$296K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.96	+0.012%	$366	—	20x	as long as short
Hyperliquid TAO	+0.0710%	1h	318.02	+0.031%	$93.9M	$110.5M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.06	+0.043%	$450K	$655K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0834%	1h	317.88	−0.012%	$6.0M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.99	+0.022%	$1.4M	$7.0M	50x	as long as short
Bulk TAO-USD	+0.1572%	1h	317.17	−0.236%	$169K	$0	10x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	318.80	+0.277%	$23K	$2K	12x	as long as short