Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Aevo+0.095%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1391.386% of the position

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 3 days (all we have)−0.132%−$13 · spread now +0.095%, 7d avg +0.003%

Together, before fees−0.140%−$14 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: Bybit is 0.092% dearer against Aevo than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	306.13	0.0104	pay 0.0013% / 1h	21m 58s	$168K	$998	3x
Short	Bybit TAOUSDT	306.42	0.0100	get 0.0050% / 4h	1h 21m	$59.2M	$121.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$0.84
Price spread: +0.095% → +0.003%: $9.2
Slippage, 4 orders: −$111.6
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$130.24
Costs to cover: 1.386%
Break-even: never at this rate

Slippage from Aevo: live order book, 62 min ago; Bybit: 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, 62 min ago	41.20 bp	60.8 bp −$61	333.3 bp −$3,333	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.16 bp	9.7 bp −$10	17.9 bp −$179	39.5 bp −$3,949	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	305.94	−0.061%	$26K	—	150x	as long as short
dYdX TAO-USD	+0.0017%	1h	305.38	−0.245%	$125K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.94	−0.062%	$44K	$539K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	306.22	+0.030%	$85.7M	$414.5M	75x	as long as short
Bybit TAOUSDTshort	+0.0100%	4h	306.42	+0.095%	$59.2M	$121.3M	50x
OKX TAO-USDT-SWAP	+0.0100%	8h	306.20	+0.023%	$24.6M	$95.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.11	−0.007%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	303.38	−0.900%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	306.10	−0.010%	$12.2M	$49.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	306.13	0.000%	$112.4M	$125.5M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	306.18	+0.016%	$18.3M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	306.16	+0.010%	$34.2M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	306.22	+0.029%	—	$30.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.93	−0.718%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	304.26	−0.612%	$503K	$967K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	306.18	+0.016%	$75K	$567K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	306.07	−0.019%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.98	−0.049%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	305.90	−0.075%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	305.88	−0.082%	$121K	$367K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.99	−0.046%	$3.2M	$7.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0103%	1h	303.74	−0.781%	$46K	$269K	50x	as long as short
Variational Omni TAO	+0.0104%	4h	303.54	−0.847%	$3.7M	$6.7M	—	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	306.13	long leg	$168K	$998	3x
Katana Perps TAO-USD	+0.0110%	8h	305.87	−0.085%	$1K	$506K	5x	as long as short
Aster TAOUSDT	+0.0121%	4h	306.10	−0.010%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0160%	8h	305.95	−0.060%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	305.78	−0.116%	$361K	$372K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	305.86	−0.089%	$437K	—	100x	as long as short
Nado TAO-PERP	+0.0318%	1h	305.86	−0.087%	$825K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.87	−0.085%	$4.2M	$9.5M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0360%	1h	306.06	−0.023%	$20K	$1.4M	25x	as long as short
Lighter TAO	+0.0408%	1h	306.21	+0.027%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	306.24	+0.036%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0468%	1h	306.26	+0.042%	$295K	$799K	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.80	−0.761%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	306.05	−0.027%	$352	—	20x	as long as short
Extended TAO-USD	+0.0816%	1h	306.12	−0.004%	$829K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	306.39	+0.085%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1032%	1h	306.08	−0.016%	$5.8M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1078%	1h	306.50	+0.121%	$93.1M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	306.10	−0.011%	$417K	$544K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.849%	$22K	$264	12x	as long as short