Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: Bitget against Aevo−0.092%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1351.353% of the position

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.092%, 7d avg −0.062%

Together, before fees+0.018%+$2 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: Bitget is 0.031% cheaper against Aevo than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	314.38	0.0104	pay 0.0013% / 1h	57m 17s	$173K	$998	3x
Short	Bitget TAOUSDT	314.09	0.0100	get 0.0050% / 4h	57m 17s	$35.1M	$45.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aevo. 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 AevobpFee BitgetbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$0.84
Price spread: −0.092% → −0.062%: −$3.06
Slippage, 4 orders: −$107.34
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$139.24
Costs to cover: 1.353%
Break-even: never at this rate

Slippage from Aevo: live order book, 21 min ago; Bitget: 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 Aevo live order book, 21 min ago	38.86 bp	55.6 bp −$56	295.0 bp −$2,950	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	1.91 bp	12.2 bp −$12	23.7 bp −$237	50.8 bp −$5,078	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	−0.1120%	1h	305.94	−2.685%	$164K	$52K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.75	−0.199%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.95	−0.138%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	308.73	−1.797%	$22K	$259	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.12	−0.083%	$40K	$547K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.96	−0.134%	$371K	$370K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.27	−0.034%	$88.5M	$418.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.41	+0.010%	$61.4M	$122.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.20	−0.057%	$25.2M	$99.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.20	−0.057%	$12.5M	$48.4M	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	314.23	−0.048%	$120.2M	$125.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.07	−0.099%	$19.0M	$27.4M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	314.09	−0.092%	$35.1M	$45.8M	50x
BingX TAO-USDT	+0.0100%	4h	314.15	−0.073%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.23	−0.365%	$41K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.77	−0.831%	$515K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.04	−0.426%	$47K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.23	−0.048%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.07	−0.099%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.23	−0.048%	$126K	$389K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.03	−0.111%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	314.38	long leg	$173K	$998	3x
Katana Perps TAO-USD	+0.0110%	8h	314.22	−0.051%	$831	$528K	5x	as long as short
Variational Omni TAO	+0.0136%	4h	310.79	−1.141%	$3.8M	$6.8M	—	as long as short
Bullet TAO-USD	+0.0169%	1h	314.18	−0.063%	$12K	$17K	20x	as long as short
Arcus TAO-USD	+0.0186%	1h	314.18	−0.064%	$81K	$644K	5x	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	313.92	−0.146%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0209%	4h	314.30	−0.025%	$1.1M	$7.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0226%	1h	314.14	−0.075%	$20K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.25	−0.041%	$4.3M	$9.8M	100x	as long as short
Polymarket Perps TAO-USD	+0.0374%	1h	314.63	+0.080%	$77K	$548K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0447%	1h	314.22	−0.051%	$5.8M	$19.7M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0477% / S −0.0175%	1h	313.89	−0.155%	$450K	—	100x	as long as short
Nado TAO-PERP	+0.0504%	1h	314.47	+0.029%	$865K	$2.0M	10x	as long as short
Phoenix TAO	+0.0521%	1h	313.80	−0.184%	$328K	$521K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	314.16	−0.070%	$361	—	20x	as long as short
Extended TAO-USD	+0.0768%	1h	314.11	−0.084%	$851K	$2.1M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0901%	1h	313.95	−0.137%	$301K	$799K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.62	+0.076%	$1.5M	$5.7M	50x	as long as short
01 Exchange TAOUSD	+0.1104%	1h	314.75	+0.118%	$3K	$4K	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	314.07	−0.099%	$432K	$537K	5x	as long as short
Lighter TAO	+0.1288%	1h	314.57	+0.060%	$1.6M	$5.7M	5x	as long as short
Hyperliquid TAO	+0.2460%	1h	315.21	+0.264%	$98.3M	$82.4M	5x	as long as short