Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0261%/8h= −28.5% APRpaid last 24h 0.000%

Price spread now: Gate against ApeX Omni−0.755%66s7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$600.601% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 3 days (all we have)+0.297%+$30 · spread now −0.755%, 7d avg −0.093%

Together, before fees+0.245%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.662% cheaper against ApeX Omni than usual: you would sell low and buy high (−$66 if the spread goes back to its 7-day average of −0.093%). Swap the legs. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.052% in total (about -2.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	314.07	0.0361	pay 0.0045% / 1h	54m 12s	$47K	$269K	50x
Short	Gate TAO_USDT	311.70	0.0100	get 0.0050% / 4h	54m 12s	$12.5M	$48.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against ApeX Omni. 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 ApeX OmnibpFee GatebpOrdersPrice spread, now −0.755%Rate

Funding earned: −$54.73
Price spread: −0.755% → −0.093%: −$66.15
Slippage, 4 orders: −$35.08
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$180.97
Costs to cover: 0.601%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 23 min ago; Gate: live order book, 5 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 ApeX Omni live order book, 23 min ago	3.76 bp	11.3 bp −$11	124.8 bp −$1,248	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.59 bp	17.3 bp −$17	34.0 bp −$340	72.6 bp −$7,264	121.8 bp −$60.9K

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	−2.589%	$164K	$52K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.05	−0.325%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.74	−0.741%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	308.73	−1.700%	$22K	$259	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.77	−0.732%	$40K	$555K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.43	−0.204%	$370K	$370K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.09	−0.630%	$88.4M	$420.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.07	−0.637%	$60.8M	$123.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.90	−0.691%	$25.0M	$99.2M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	311.70	−0.755%	$12.5M	$48.5M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	312.09	−0.630%	$119.4M	$125.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.96	−0.672%	$19.0M	$27.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.84	−0.710%	$34.8M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.92	−0.685%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.12	+0.015%	$41K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.40	+0.106%	$520K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	311.85	−0.707%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.78	−0.729%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.37	+0.414%	$127K	$392K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.68	−0.761%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.11	−0.624%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	311.59	−0.790%	$824	$528K	5x	as long as short
Bullet TAO-USD	+0.0112%	1h	312.00	−0.660%	$11K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0112%	1h	311.92	−0.685%	$76K	$539K	5x	as long as short
Variational Omni TAO	+0.0177%	4h	314.40	+0.106%	$3.9M	$6.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0184%	1h	311.83	−0.714%	$19K	$1.4M	25x	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	313.07	−0.317%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	312.22	−0.589%	$81K	$644K	5x	as long as short
Aster TAOUSDT	+0.0214%	4h	311.98	−0.666%	$1.1M	$7.8M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.05	−0.006%	$4.3M	$9.8M	100x	as long as short
ApeX Omni TAOUSDTlong	+0.0361%	1h	314.07	long leg	$47K	$269K	50x
Kraken Futures PF_TAOUSD	+0.0450%	1h	311.95	−0.675%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0474% / S −0.0175%	1h	311.67	−0.764%	$447K	—	100x	as long as short
Phoenix TAO	+0.0521%	1h	313.80	−0.086%	$328K	$521K	5x	as long as short
Nado TAO-PERP	+0.0619%	1h	311.90	−0.692%	$835K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0644%	1h	314.18	+0.035%	$301K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.77	−0.734%	$359	—	20x	as long as short
Extended TAO-USD	+0.0784%	1h	311.95	−0.673%	$864K	$2.1M	25x	as long as short
01 Exchange TAOUSD	+0.0936%	1h	312.29	−0.567%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	312.45	−0.516%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	311.89	−0.694%	$429K	$536K	5x	as long as short
Lighter TAO	+0.1384%	1h	312.46	−0.514%	$1.6M	$5.7M	5x	as long as short
Hyperliquid TAO	+0.2314%	1h	312.47	−0.509%	$97.8M	$82.6M	5x	as long as short