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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: Variational Omni against Arcus−0.602%7-day average −0.003% · you buy dearer than you sell

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.646%+$65 · spread now −0.602%, 7d avg −0.003%

Together, before fees+0.636%+ Points / potential airdropVariational Omni: Active · farm board+$64 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: Variational Omni is 0.599% cheaper against Arcus than usual: you would sell low and buy high, −$60 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	307.62	0.0100	pay 0.0013% / 1h	34m 09s	$137K	$594K	5x
Short	Variational Omni TAO	305.77	0.0100	get 0.0050% / 4h	2h 34m	$3.6M	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.602%Rate

Funding earned: $0
Price spread: −0.602% → −0.003%: −$59.88
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$64.38
Costs to cover: 0.045%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 54 min ago; Variational Omni: RFQ quote, 5 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 Arcus live order book, 54 min ago	10.10 bp	15.4 bp −$15	33.7 bp −$337	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.88 bp	doesn't fit	16.4 bp −$164	doesn't fit	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
dYdX TAO-USD	0.0000%	1h	307.25	−0.120%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	307.46	−0.053%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.51	−0.036%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.48	−0.044%	$363K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.14	−0.156%	$86.1M	$401.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.23	−0.127%	$59.1M	$117.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.10	−0.169%	$25.0M	$92.6M	50x	as long as short
Arcus TAO-USDlong	+0.0100%	1h	307.62	long leg	$137K	$594K	5x
Gate TAO_USDT	+0.0100%	4h	307.20	−0.137%	$12.1M	$47.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.25	−0.120%	$113.1M	$122.7M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	307.30	−0.104%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.00	−0.202%	$34.4M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.30	−0.104%	—	$30.4M	—	as long as short
Variational Omni TAOshort	+0.0100%	4h	305.77	−0.602%	$3.6M	$6.7M	—
edgeX TAOUSDC	+0.0100%	4h	305.09	−0.824%	$39K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.96	−0.541%	$536K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.64	−0.644%	$46K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.61	−0.003%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.46	−0.052%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.15	−0.153%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.36	−0.085%	$121K	$351K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.16	−0.150%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.44	−0.059%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	307.63	+0.003%	$879	$428K	5x	as long as short
Polymarket Perps TAO-USD	+0.0127%	1h	307.61	−0.003%	$86K	$669K	5x	as long as short
Aster TAOUSDT	+0.0140%	4h	307.22	−0.131%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0167%	8h	307.51	−0.035%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.46	−0.052%	$439K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0189%	1h	307.41	−0.067%	$14K	$1.3M	25x	as long as short
Phoenix TAO	+0.0234%	1h	306.20	−0.462%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0251%	1h	307.53	−0.028%	$852K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.55	−0.348%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	308.12	+0.163%	$3K	$4K	5x	as long as short
Bulk TAO-USD	+0.0668%	1h	304.81	−0.913%	$200K	$57K	10x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.52	−0.031%	$354	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.29	−0.109%	$877K	$1.9M	25x	as long as short
Lighter TAO	+0.0888%	1h	307.80	+0.057%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	307.40	−0.072%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.54	−0.026%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.73	+0.035%	$412K	$537K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1295%	1h	307.71	+0.029%	$471K	$683K	10x	as long as short
Hyperliquid TAO	+0.1674%	1h	307.93	+0.101%	$93.8M	$75.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.325%	$22K	$138	12x	as long as short