Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.004%

Price spread now: Katana Perps against Bitget+0.107%7-day average +0.062% · you sell dearer than you buy

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

Long on Bitget Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.148%+$15 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.107%, 7d avg +0.062%

Together, before fees+0.086%+$9 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: Katana Perps is 0.045% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	318.51	0.0100	pay 0.0050% / 4h	1h 36m	$35.7M	$58.4M	50x
Short	Katana Perps TAO-USD	318.85	0.0109	get 0.0109% / 8h	1h 36m	$723	$1.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Bitget. 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 BitgetbpFee Katana PerpsbpOrdersPrice spread, now +0.107%Rate

Funding earned: $1.9
Price spread: +0.107% → +0.062%: $4.5
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$9.4
Costs to cover: 0.158%
Break-even: 41.7 days

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	1.41 bp	11.7 bp −$12	23.8 bp −$238	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	−0.2019%	1h	319.65	+0.358%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.44	−0.021%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.52	+0.004%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.86	+0.110%	$42K	$703K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.50	−0.003%	$26.7M	$129.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.50	−0.003%	$14.2M	$51.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.71	+0.063%	$17.8M	$32.1M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	318.51	long leg	$35.7M	$58.4M	50x
ApeX Omni TAOUSDT	+0.0100%	1h	319.72	+0.380%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.74	+0.072%	$80K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	318.85	+0.107%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.70	+0.060%	$118K	$589K	20x	as long as short
Katana Perps TAO-USDshort	+0.0109%	8h	318.85	+0.107%	$723	$1.0M	5x
GMX TAO/USD [WBTC.b-USDC]	L +0.0120% / S +0.0157%	1h	318.50	−0.004%	$430K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.09	+0.181%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	318.53	+0.006%	$53K	$292K	10x	as long as short
edgeX TAOUSDC	+0.0158%	4h	319.79	+0.403%	$42K	$317K	10x	as long as short
MEXC TAO_USDT	+0.0160%	4h	318.93	+0.132%	$104.7M	$149.8M	300x	as long as short
Binance TAOUSDT	+0.0161%	4h	318.86	+0.109%	$92.2M	$527.8M	75x	as long as short
Paradex TAO-USD-PERP	+0.0257%	8h	318.78	+0.086%	$14K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0257%	4h	318.93	+0.132%	$3.2M	$8.1M	50x	as long as short
Aster TAOUSDT	+0.0314%	4h	318.71	+0.063%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0362%	4h	318.60	+0.028%	$69.6M	$155.9M	50x	as long as short
BingX TAO-USDT	+0.0370%	4h	318.78	+0.085%	—	$34.5M	—	as long as short
Bullet TAO-USD	+0.0384%	1h	318.89	+0.119%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0401%	4h	319.27	+0.239%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0402%	4h	319.74	+0.387%	$544K	$940K	10x	as long as short
Extended TAO-USD	+0.0480%	1h	318.84	+0.104%	$912K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	318.86	+0.111%	$363K	$423K	10x	as long as short
Variational Omni TAO	+0.0535%	4h	319.70	+0.373%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	319.70	+0.374%	$318K	$709K	5x	as long as short
Hyperliquid TAO	+0.0621%	1h	318.99	+0.151%	$94.3M	$110.1M	5x	as long as short
Nado TAO-PERP	+0.0628%	1h	318.98	+0.148%	$796K	$2.1M	10x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	319.15	+0.201%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	319.86	+0.424%	$103K	$394K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0643%	1h	318.96	+0.142%	$11K	$1.9M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0670%	1h	318.93	+0.132%	$299K	$904K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	318.91	+0.124%	$367	—	20x	as long as short
Lighter TAO	+0.0824%	1h	319.05	+0.170%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.89	+0.747%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	318.82	+0.096%	$457K	$664K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1157%	1h	319.03	+0.164%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.63	+1.607%	$24K	$2K	12x	as long as short