Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against Arcus−0.125%7-day average −0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$780.780% of the position

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.125%, 7d avg −0.103%

Together, before fees+0.102%+$10 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: Gate is 0.022% cheaper against Arcus than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	312.29	0.0100	pay 0.0013% / 1h	27m 27s	$141K	$586K	5x
Short	Gate TAO_USDT	311.90	0.0100	get 0.0050% / 4h	3h 27m	$12.3M	$47.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Arcus. 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 ArcusbpFee GatebpOrdersPrice spread, now −0.125%Rate

Funding earned: $0
Price spread: −0.125% → −0.103%: −$2.21
Slippage, 4 orders: −$58.49
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$80.2
Costs to cover: 0.780%
Break-even: never at this rate

Slippage from Arcus: live order book, 22 min ago; Gate: live order book, 1 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 Arcus live order book, 22 min ago	13.88 bp	16.9 bp −$17	27.1 bp −$271	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.21 bp	19.6 bp −$20	36.5 bp −$365	71.4 bp −$7,143	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	−1.0220%	1h	313.13	+0.270%	$209K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	311.65	−0.205%	$131K	$95K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	312.14	−0.050%	$17K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0006%	1h	312.08	−0.067%	$27K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.97	−0.102%	$37K	$506K	20x	as long as short
Pacifica TAO	+0.0100%	1h	311.82	−0.149%	$366K	$403K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.13	−0.053%	$88.3M	$384.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.20	−0.029%	$59.5M	$113.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.20	−0.029%	$25.4M	$89.9M	50x	as long as short
Arcus TAO-USDlong	+0.0100%	1h	312.29	long leg	$141K	$586K	5x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDTshort	+0.0100%	4h	311.90	−0.125%	$12.3M	$47.5M	50x
MEXC TAO_USDT	+0.0100%	4h	311.94	−0.112%	$107.3M	$116.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.02	−0.086%	$19.8M	$25.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.93	−0.115%	$35.1M	$42.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.06	−0.074%	—	$30.0M	—	as long as short
Variational Omni TAO	+0.0100%	4h	314.12	+0.586%	$3.5M	$6.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.68	+0.126%	$40K	$274K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.09	−0.064%	$556K	$947K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.77	+0.154%	$48K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.33	+0.013%	$89K	$639K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.21	−0.026%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.11	−0.058%	$60K	$277K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.79	−0.160%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.11	−0.058%	$124K	$355K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.68	−0.195%	$3.3M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.26	−0.010%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0120%	8h	311.87	−0.134%	$891	$381K	5x	as long as short
Aster TAOUSDT	+0.0182%	4h	311.88	−0.131%	$1.4M	$7.2M	50x	as long as short
Paradex TAO-USD-PERP	+0.0188%	8h	312.01	−0.091%	$14K	$992	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.76	+0.471%	$4.3M	$9.4M	100x	as long as short
Phoenix TAO	+0.0365%	1h	314.80	+0.804%	$334K	$326K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0394%	1h	312.68	+0.124%	$6.8M	$18.7M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0483% / S −0.0184%	1h	312.07	−0.071%	$456K	—	100x	as long as short
Extended TAO-USD	+0.0576%	1h	311.92	−0.117%	$923K	$1.8M	25x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	312.01	−0.090%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0627%	1h	311.60	−0.221%	$437K	$601K	10x	as long as short
Nado TAO-PERP	+0.0682%	1h	312.33	+0.014%	$1.1M	$1.5M	10x	as long as short
RISEx TAO/USDC	+0.0688%	1h	312.20	−0.027%	$409K	$529K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	311.97	−0.101%	$359	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0936%	1h	312.27	−0.006%	$1.5M	$5.5M	50x	as long as short
Lighter TAO	+0.2056%	1h	312.40	+0.034%	$2.0M	$3.8M	5x	as long as short
Hyperliquid TAO	+0.2337%	1h	312.45	+0.051%	$92.1M	$69.1M	5x	as long as short
Injective TAO/USDC PERP	+0.3384%	1h	316.14	+1.233%	$23K	$137	12x	as long as short