Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: KuCoin against Popdex+0.016%7-day average +0.005% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$540.540% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.016%, 7d avg +0.005%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	311.37	0.0096	pay 0.0012% / 1h	13m 28s	$36K	$566K	20x
Short	KuCoin TAOUSDTM	311.42	0.0100	get 0.0050% / 4h	13m 28s	$18.4M	$27.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0.84
Price spread: +0.016% → +0.005%: $1.06
Slippage, 4 orders: −$35.59
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$52.09
Costs to cover: 0.540%
Break-even: 441.1 days

Slippage from Popdex: live order book, 66 min ago; KuCoin: 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, 66 min ago	3.43 bp	10.9 bp −$11	73.0 bp −$730	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	1.60 bp	17.3 bp −$17	33.1 bp −$331	84.2 bp −$8,415	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	−0.2753%	1h	312.56	+0.382%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	311.36	−0.003%	$124K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.27	−0.031%	$20K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+1.150%	$23K	$361	12x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	311.37	long leg	$36K	$566K	20x
Pacifica TAO	+0.0100%	1h	311.60	+0.074%	$368K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.39	+0.007%	$88.3M	$428.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.56	+0.061%	$61.4M	$125.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.40	+0.010%	$25.0M	$101.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.30	−0.022%	$12.4M	$50.2M	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	311.33	−0.013%	$110.3M	$131.4M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	311.42	+0.016%	$18.4M	$27.8M	75x
Bitget TAOUSDT	+0.0100%	4h	311.21	−0.051%	$34.8M	$46.9M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.42	+0.016%	—	$30.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.68	+0.100%	$40K	$282K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.93	+0.181%	$517K	$943K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.67	+0.096%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.52	+0.048%	$76K	$455K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.46	+0.029%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	311.50	+0.042%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.34	−0.010%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.34	+0.312%	$127K	$414K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.60	+0.074%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.20	+0.265%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	311.50	+0.042%	$1K	$561K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0138%	1h	311.51	+0.046%	$20K	$1.5M	25x	as long as short
Aster TAOUSDT	+0.0162%	4h	311.35	−0.008%	$1.1M	$7.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0070%	1h	311.74	+0.118%	$444K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0183%	8h	311.32	−0.015%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	311.68	+0.100%	$82K	$545K	5x	as long as short
Variational Omni TAO	+0.0210%	4h	311.68	+0.099%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.88	+0.164%	$4.4M	$10.5M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0451%	1h	311.52	+0.048%	$5.7M	$19.9M	50x	as long as short
Nado TAO-PERP	+0.0454%	1h	311.32	−0.015%	$818K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0510%	1h	311.55	+0.058%	$291K	$803K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.40	+0.331%	$327K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	311.69	+0.103%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.42	+0.017%	$358	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	311.37	+0.001%	$854K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.27	+0.610%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1216%	1h	312.10	+0.234%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	311.51	+0.046%	$412K	$584K	5x	as long as short
Hyperliquid TAO	+0.1585%	1h	311.84	+0.151%	$97.4M	$84.5M	5x	as long as short