Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Orderly against Arcus−0.179%7-day average −0.068% · you buy dearer than you sell

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

Long on Arcus Short on Orderly

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 3 days (all we have)+0.173%+$17 · spread now −0.179%, 7d avg −0.068%

Together, before fees+0.166%+$17 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: Orderly is 0.111% cheaper against Arcus than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	306.86	0.0100	pay 0.0013% / 1h	29m 00s	$136K	$594K	5x
Short	Orderly PERP_TAO_USDC	306.31	0.0100	get 0.0050% / 4h	2h 29m	$59K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.179%Rate

Funding earned: $0
Price spread: −0.179% → −0.068%: −$11.13
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$21.63
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 59 min ago; Orderly: 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 Arcus live order book, 59 min ago	10.10 bp	15.4 bp −$15	33.7 bp −$337	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
dYdX TAO-USD	0.0000%	1h	305.82	−0.339%	$128K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	306.27	−0.193%	$19K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0078%	1h	306.38	−0.156%	$15K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	306.70	−0.052%	$42K	$523K	20x	as long as short
Pacifica TAO	+0.0100%	1h	306.05	−0.264%	$362K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.68	−0.385%	$85.5M	$403.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	305.80	−0.345%	$59.1M	$118.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.70	−0.378%	$25.0M	$92.3M	50x	as long as short
Arcus TAO-USDlong	+0.0100%	1h	306.86	long leg	$136K	$594K	5x
Bulk TAO-USD	+0.0100%	1h	307.07	+0.068%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	305.70	−0.378%	$12.2M	$48.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.92	−0.306%	$113.0M	$123.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	305.87	−0.323%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	305.57	−0.420%	$34.3M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.92	−0.306%	—	$30.5M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.219%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.34	+0.156%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.77	+0.296%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.19	+0.108%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	306.33	−0.174%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	306.31	−0.179%	$59K	$276K	10x
SunX TAO-USDT	+0.0100%	4h	306.19	−0.218%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	306.09	−0.251%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.83	−0.336%	$3.2M	$7.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0104%	1h	306.82	−0.013%	$86K	$669K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	306.36	−0.161%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	306.47	−0.127%	$3K	$434K	5x	as long as short
Aster TAOUSDT	+0.0147%	4h	306.18	−0.221%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	305.90	−0.311%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	306.18	−0.222%	$437K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.469%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0298%	1h	306.58	−0.090%	$840K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.14	−0.235%	$4.2M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	306.97	+0.036%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	306.32	−0.177%	$352	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	305.78	−0.351%	$901K	$2.0M	25x	as long as short
Lighter TAO	+0.0944%	1h	306.38	−0.156%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	307.34	+0.156%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1029%	1h	306.40	−0.149%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	306.86	−0.002%	$410K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1262%	1h	305.88	−0.319%	$442K	$712K	10x	as long as short
Hyperliquid TAO	+0.1701%	1h	306.56	−0.098%	$93.7M	$75.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−0.293%	$22K	$171	12x	as long as short