Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.001%

Price spread now: Arcus against SunX+0.287%7-day average +0.073% · you sell dearer than you buy

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

Long on SunX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 3 days (all we have)−0.303%−$30 · spread now +0.287%, 7d avg +0.073%

Together, before fees−0.296%−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Arcus is 0.214% dearer against SunX than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	317.48	0.0100	pay 0.0050% / 4h	3h 27m	$1K	$1.9M	20x
Short	Arcus TAO-USD	318.39	0.0201	get 0.0025% / 1h	27m 53s	$84K	$550K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against SunX. 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 SunXbpFee ArcusbpOrdersPrice spread, now +0.287%Rate

Funding earned: $21.28
Price spread: +0.287% → +0.073%: $21.41
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $30.19
Costs to cover: 0.125%
Break-even: from the start

Slippage unknown: SunX: live order book, 8 min ago; Arcus: live order book, 46 min ago. 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 SunX live order book, 8 min ago	500.14 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 46 min ago	8.66 bp	13.7 bp −$14	28.4 bp −$284	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	−0.1321%	1h	318.22	+0.233%	$169K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.00	+0.164%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.49	+0.003%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.00	+0.164%	$43K	$591K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.06	−0.134%	$91.1M	$447.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.00	−0.151%	$26.0M	$108.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.00	−0.151%	$12.9M	$50.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.18	−0.094%	$108.2M	$134.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.06	−0.132%	$18.2M	$29.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.84	−0.202%	$35.3M	$50.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	318.26	+0.244%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	318.49	+0.319%	$527K	$969K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.68	+0.063%	$57K	$316K	10x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	317.48	long leg	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	317.88	+0.126%	$127K	$424K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.43	−0.016%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.97	+0.154%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	318.24	+0.239%	$1K	$625K	5x	as long as short
Bullet TAO-USD	+0.0131%	1h	317.77	+0.093%	$12K	$17K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0093%	1h	317.49	+0.002%	$457K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.38	+0.283%	$377K	$376K	10x	as long as short
Arcus TAO-USDshort	+0.0201%	1h	318.39	+0.287%	$84K	$550K	5x
Aster TAOUSDT	+0.0221%	4h	317.40	−0.024%	$1.1M	$8.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0237%	8h	318.30	+0.258%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0237%	1h	317.61	+0.040%	$17K	$1.5M	25x	as long as short
Polymarket Perps TAO-USD	+0.0306%	1h	317.86	+0.120%	$93K	$636K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.25	−0.072%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0404%	4h	317.13	−0.110%	—	$30.7M	—	as long as short
Variational Omni TAO	+0.0436%	4h	318.35	+0.273%	$5.5M	$8.7M	—	as long as short
Bybit TAOUSDT	+0.0450%	4h	317.34	−0.044%	$65.4M	$133.0M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0483%	1h	317.67	+0.061%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	320.00	+0.794%	$335K	$624K	5x	as long as short
ApeX Omni TAOUSDT	+0.0552%	1h	320.00	+0.794%	$48K	$266K	50x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	322.97	+1.729%	$23K	$678	12x	as long as short
01 Exchange TAOUSD	+0.0616%	1h	318.14	+0.208%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	317.72	+0.074%	$365	—	20x	as long as short
Nado TAO-PERP	+0.0783%	1h	317.74	+0.083%	$883K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0858%	1h	317.73	+0.079%	$321K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.83	+0.425%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1141%	1h	318.14	+0.207%	$423K	$600K	5x	as long as short
Extended TAO-USD	+0.1144%	1h	317.14	−0.106%	$927K	$2.3M	25x	as long as short
Lighter TAO	+0.1392%	1h	318.17	+0.218%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2101%	1h	317.44	−0.013%	$102.2M	$91.1M	5x	as long as short