Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.085%

Price spread now: BingX against 01 Exchange−0.113%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BingX is 0.113% cheaper against 01 Exchange than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange TAOUSD	318.23	0.0760	pay 0.0095% / 1h	53m 18s	$3K	$4K	5x
Short	BingX TAO-USDT	317.87	0.0686	get 0.0343% / 4h	1h 53m	—	$30.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against 01 Exchange. 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 01 ExchangebpFee BingXbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$15.54
Price spread: −0.113% → 0.000%: −$11.31
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$43.85
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; BingX: live order book, 15 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 01 Exchange no order-book sample	—	—	—	—	—
Sell BingX live order book, 15 min ago	0.95 bp	7.4 bp −$7	12.7 bp −$127	28.9 bp −$2,890	59.3 bp −$29.7K

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TAO on 42 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	−0.2257%	1h	317.17	−0.333%	$168K	$40K	10x	as long as short
ApeX Omni TAOUSDT	−0.0750%	1h	314.06	−1.310%	$47K	$253K	50x	as long as short
dYdX TAO-USD	0.0000%	1h	317.50	−0.229%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.72	−0.159%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.80	−0.135%	$45K	$646K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.04	−0.060%	$91.9M	$467.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.20	−0.009%	$26.2M	$115.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.70	−0.167%	$13.0M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.80	−0.135%	$104.8M	$137.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.65	−0.182%	$18.2M	$30.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	317.90	−0.104%	$35.5M	$53.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	317.37	−0.271%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.62	−0.192%	$80K	$730K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.16	−0.022%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.22	−0.317%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.96	−0.085%	$130K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.15	−0.339%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.21	−0.007%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	317.75	−0.151%	$675	$735K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0165% / S +0.0104%	1h	317.76	−0.149%	$431K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0190%	4h	316.25	−0.622%	$526K	$946K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0247%	1h	317.28	−0.299%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0295%	4h	317.97	−0.082%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0331%	1h	318.17	−0.019%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0350%	8h	317.79	−0.139%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0448%	1h	317.82	−0.129%	$376K	$393K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0458%	1h	317.32	−0.287%	$14K	$1.6M	25x	as long as short
Phoenix TAO	+0.0504%	1h	317.80	−0.135%	$333K	$707K	5x	as long as short
Nado TAO-PERP	+0.0506%	1h	317.65	−0.181%	$765K	$2.1M	10x	as long as short
Arcus TAO-USD	+0.0509%	1h	318.14	−0.028%	$100K	$489K	5x	as long as short
BingX TAO-USDTshort	+0.0686%	4h	317.87	−0.113%	—	$30.3M	—
Reya TAORUSDPERP	+0.0696%	1h	317.67	−0.175%	$365	—	20x	as long as short
Bybit TAOUSDT	+0.0736%	4h	318.22	−0.003%	$67.6M	$138.5M	50x	as long as short
01 Exchange TAOUSDlong	+0.0760%	1h	318.23	long leg	$3K	$4K	5x
Variational Omni TAO	+0.0865%	4h	319.02	+0.249%	$6.0M	$9.6M	—	as long as short
Backpack TAO_USDC_PERP	+0.0867%	1h	317.06	−0.368%	$320K	$802K	10x	as long as short
Extended TAO-USD	+0.0912%	1h	317.60	−0.198%	$900K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.28	+0.330%	$1.5M	$6.5M	50x	as long as short
Lighter TAO	+0.1048%	1h	318.06	−0.052%	$1.6M	$6.1M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	317.89	−0.108%	$450K	$626K	5x	as long as short
Hyperliquid TAO	+0.1460%	1h	318.19	−0.013%	$100.6M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+0.852%	$23K	$2K	12x	as long as short