Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.200%

Price spread now: Bulk against SunX−0.633%7-day average −0.120% · you buy dearer than you sell

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

Long on SunX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.356%−$36 on $10k

Price spread, last 4 days (all we have)+0.436%+$44 · spread now −0.633%, 7d avg −0.120%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.513% cheaper against SunX than usual: you would sell low and buy high, −$51 on $10k if it goes back to its 7-day average of −0.120%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	311.39	0.0100	pay 0.0050% / 4h	9m 46s	$2K	$1.6M	20x
Short	Bulk TAO-USD	309.42	0.0100	get 0.0013% / 1h	9m 46s	$164K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.633%Rate

Funding earned: $0
Price spread: −0.633% → −0.120%: −$51.27
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$66.27
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Bulk: live order book, 57 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, 6 min ago	500.09 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bulk live order book, 57 min ago	0.32 bp	3.8 bp −$4	5.3 bp −$53	12.4 bp −$1,236	doesn't fit

TAO on 43 exchanges

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 −0.0004%	1h	311.38	−0.004%	$9K	—	150x	as long as short
dYdX TAO-USD	+0.0032%	1h	310.89	−0.161%	$262K	$221K	5x	as long as short
RISEx TAO/USDC	+0.0055%	1h	311.33	−0.020%	$609K	$938K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.42	+0.010%	$59K	$805K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	311.30	−0.029%	$2K	$1.7M	5x	as long as short
Nado TAO-PERP	+0.0100%	1h	311.25	−0.045%	$543K	$2.0M	10x	as long as short
Pacifica TAO	+0.0100%	1h	311.29	−0.032%	$382K	$447K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.87	+0.154%	$89.0M	$530.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.09	+0.225%	$66.7M	$161.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.90	+0.164%	$25.9M	$133.1M	50x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus TAO-USD	+0.0100%	1h	311.60	+0.067%	$118K	$324K	5x	as long as short
Bulk TAO-USDshort	+0.0100%	1h	309.42	−0.633%	$164K	$6K	10x
Gate TAO_USDT	+0.0100%	4h	311.70	+0.100%	$19.2M	$50.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.77	+0.122%	$113.2M	$152.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.60	+0.067%	$17.1M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.70	+0.100%	$35.6M	$54.8M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.86	+0.151%	—	$38.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	310.59	−0.257%	$34K	$400K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	310.29	−0.354%	$517K	$798K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.94	−0.466%	$69K	$277K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.46	+0.022%	$59K	$1.3M	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.50	+0.036%	$12K	$15K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	311.56	+0.055%	$51K	$177K	10x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	311.39	long leg	$2K	$1.6M	20x
HTX TAO-USDT	+0.0100%	4h	310.82	−0.183%	$109K	$628K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.47	+0.026%	$3.1M	$7.3M	50x	as long as short
Extended TAO-USD	+0.0104%	1h	311.66	+0.086%	$829K	$2.4M	25x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.69	+0.098%	$171K	—	3x	as long as short
Paradex TAO-USD-PERP	+0.0108%	8h	311.34	−0.017%	$14K	$769	10x	as long as short
Aster TAOUSDT	+0.0118%	4h	311.77	+0.122%	$1.4M	$10.7M	50x	as long as short
Variational Omni TAO	+0.0142%	4h	311.10	−0.094%	$6.8M	$10.9M	—	as long as short
Hyperliquid TAO	+0.0168%	1h	312.03	+0.206%	$93.1M	$101.6M	5x	as long as short
Lighter TAO	+0.0240%	1h	312.05	+0.211%	$1.5M	$6.9M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0306%	1h	311.60	+0.067%	$43K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.00	−0.125%	$4.7M	$9.6M	100x	as long as short
Coinbase International TAO-PERP-INTX	+0.0424%	1h	311.65	+0.083%	$1.1M	$8.4M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0429%	1h	311.77	+0.122%	$277K	$1.1M	10x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	311.59	+0.064%	$3K	$626	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0462% / S −0.0168%	1h	311.43	+0.012%	$430K	—	100x	as long as short
Phoenix TAO	+0.0517%	1h	310.40	−0.318%	$313K	$708K	5x	as long as short
Reya TAORUSDPERP	+0.0703%	1h	311.51	+0.040%	$358	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.1032%	1h	311.92	+0.171%	$6.5M	$21.0M	50x	as long as short
Injective TAO/USDC PERP	+0.1796%	1h	313.14	+0.562%	$24K	$80K	12x	as long as short