Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h +0.018%

Price spread now: Variational Omni against ApeX Omni−0.313%7-day average +0.035% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.336%+$34 · spread now −0.313%, 7d avg +0.035%

Together, before fees+0.352%+ Points / potential airdropVariational Omni: Active · farm board+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.348% cheaper against ApeX Omni than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	319.52	0.0520	pay 0.0065% / 1h	16m 38s	$45K	$256K	50x
Short	Variational Omni TAO	318.52	0.0459	get 0.0229% / 4h	2h 16m	$5.6M	$10.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.313%Rate

Funding earned: −$12.87
Price spread: −0.313% → +0.035%: −$34.79
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$57.66
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 30 min ago; Variational Omni: RFQ quote, 3 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 ApeX Omni live order book, 30 min ago	5.58 bp	13.0 bp −$13	111.1 bp −$1,111	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.87 bp	doesn't fit	23.1 bp −$231	45.7 bp −$4,571	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	−0.0038%	1h	313.74	−1.809%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.72	−0.562%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0035%	1h	317.64	−0.589%	$127K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.94	−0.493%	$91.3M	$512.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.90	−0.507%	$26.6M	$125.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.60	−0.601%	$14.1M	$51.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	318.02	−0.469%	$100.5M	$147.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.91	−0.504%	$17.5M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.72	−0.563%	$35.8M	$57.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.55	−0.303%	$42K	$316K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	317.90	−0.507%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.59	−0.604%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.89	−0.510%	$116K	$564K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.84	−0.526%	$3.2M	$8.0M	50x	as long as short
Popdex TAOUSDT	+0.0104%	1h	318.39	−0.354%	$53K	$672K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.20	−0.415%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	318.03	−0.466%	$2K	$942K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	318.01	−0.473%	$53K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0127% / S +0.0141%	1h	317.57	−0.610%	$426K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	318.03	−0.466%	$363K	$420K	10x	as long as short
Aster TAOUSDT	+0.0260%	4h	317.84	−0.526%	$1.3M	$10.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0273%	8h	317.97	−0.485%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0277%	1h	318.04	−0.462%	$799K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0300%	1h	318.17	−0.422%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0329%	1h	318.07	−0.452%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.89	−0.510%	$4.6M	$11.0M	100x	as long as short
Bybit TAOUSDT	+0.0393%	4h	318.06	−0.457%	$69.4M	$153.5M	50x	as long as short
BingX TAO-USDT	+0.0400%	4h	317.92	−0.501%	—	$33.7M	—	as long as short
GRVT TAO_USDT_Perp	+0.0448%	4h	318.95	−0.178%	$545K	$935K	10x	as long as short
Variational Omni TAOshort	+0.0459%	4h	318.52	−0.313%	$5.6M	$10.1M	—
Arcus TAO-USD	+0.0483%	1h	318.34	−0.369%	$103K	$345K	5x	as long as short
Extended TAO-USD	+0.0504%	1h	317.92	−0.500%	$906K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	319.50	−0.006%	$318K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0513%	1h	317.98	−0.481%	$15K	$1.8M	25x	as long as short
ApeX Omni TAOUSDTlong	+0.0520%	1h	319.52	long leg	$45K	$256K	50x
Reya TAORUSDPERP	+0.0697%	1h	317.90	−0.507%	$366	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	318.22	−0.407%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	318.24	−0.401%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0818%	1h	318.14	−0.432%	$93.5M	$109.3M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0840%	1h	317.94	−0.494%	$315K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	319.49	−0.009%	$1.5M	$7.0M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	318.06	−0.455%	$459K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+1.070%	$23K	$2K	12x	as long as short