Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h 0.000%

Price spread now: Katana Perps against ApeX Omni+0.643%7-day average −0.027% · you sell dearer than you buy

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

Long on ApeX Omni Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.142%+$14 on $10k

Price spread, last 3 days (all we have)−1.266%−$127 · spread now +0.643%, 7d avg −0.027%

Together, before fees−1.124%−$112 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Katana Perps is 0.670% dearer against ApeX Omni than usual: you sell high and buy low: +$67 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	307.84	0.0100	pay 0.0013% / 1h	7m 30s	$46K	$268K	50x
Short	Katana Perps TAO-USD	309.82	0.0111	get 0.0111% / 8h	2h 07m	$1K	$451K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.643%Rate

Funding earned: $2.26
Price spread: +0.643% → −0.027%: $67.03
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $55.49
Costs to cover: 0.138%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 14 min ago; Katana Perps: no order-book sample. 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 ApeX Omni live order book, 14 min ago	4.86 bp	13.2 bp −$13	120.4 bp −$1,204	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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 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	−0.0601%	1h	309.73	+0.614%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	309.62	+0.578%	$130K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	310.56	+0.885%	$27K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.65	+0.588%	$43K	$528K	20x	as long as short
Pacifica TAO	+0.0100%	1h	309.85	+0.653%	$366K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	309.61	+0.575%	$86.8M	$405.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	309.75	+0.620%	$60.2M	$119.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	309.50	+0.539%	$25.6M	$94.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	309.93	+0.679%	$138K	$604K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	309.70	+0.604%	$12.3M	$48.7M	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	309.62	+0.578%	$119.6M	$126.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	309.80	+0.637%	$18.8M	$26.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.49	+0.536%	$34.6M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	309.68	+0.598%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.99	+0.048%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.32	+0.157%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.18	+0.435%	$550K	$965K	10x	as long as short
ApeX Omni TAOUSDTlong	+0.0100%	1h	307.84	long leg	$46K	$268K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	309.71	+0.607%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	309.59	+0.570%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	310.65	+0.913%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	310.48	+0.858%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.36	+0.819%	$122K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	310.10	+0.734%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.74	+0.942%	$171K	$998	3x	as long as short
Katana Perps TAO-USDshort	+0.0111%	8h	309.82	+0.643%	$1K	$451K	5x
Paradex TAO-USD-PERP	+0.0161%	8h	309.59	+0.569%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0171%	4h	309.74	+0.618%	$1.1M	$7.6M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	310.53	+0.872%	$443K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	+0.312%	$327K	$462K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0287%	1h	310.53	+0.873%	$12K	$1.3M	25x	as long as short
Nado TAO-PERP	+0.0294%	1h	309.65	+0.589%	$855K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	308.69	+0.276%	$4.3M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0544%	1h	310.12	+0.741%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	309.53	+0.549%	$356	—	20x	as long as short
Extended TAO-USD	+0.0752%	1h	309.61	+0.575%	$912K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0923%	1h	310.31	+0.802%	$386K	$754K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	311.63	+1.231%	$1.5M	$5.5M	50x	as long as short
Lighter TAO	+0.0968%	1h	310.33	+0.810%	$1.7M	$4.8M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1014%	1h	310.73	+0.939%	$6.4M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	309.81	+0.640%	$414K	$542K	5x	as long as short
Hyperliquid TAO	+0.1849%	1h	310.24	+0.779%	$97.2M	$77.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	+0.289%	$22K	$271	12x	as long as short