Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.105%

Price spread now: Kraken Futures against Bitget+0.053%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$570.573% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now +0.053%, 7d avg +0.090%

Together, before fees+0.278%+$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.037% cheaper against Bitget than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.090%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.213%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	315.80	0.0100	pay 0.0050% / 4h	45m 09s	$35.3M	$55.8M	50x
Short	Kraken Futures PF_TAOUSD	315.97	0.0056	get 0.0007% / 1h	45m 09s	$5.6M	$20.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$9.19
Price spread: +0.053% → +0.090%: −$3.75
Slippage, 4 orders: −$35.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$70.22
Costs to cover: 0.573%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Kraken Futures: live order book, 4 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 Bitget live order book, 4 min ago	2.07 bp	14.5 bp −$15	27.4 bp −$274	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	8.26 bp	17.8 bp −$18	31.5 bp −$315	135.4 bp −$13.5K	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	−0.0499%	1h	315.15	−0.206%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.83	+0.009%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.89	+0.029%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSDshort	+0.0056%	1h	315.97	+0.053%	$5.6M	$20.6M	50x
Popdex TAOUSDT	+0.0096%	1h	316.24	+0.139%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.06	+0.081%	$91.1M	$489.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	+0.095%	$26.0M	$119.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.80	0.000%	$12.9M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.04	+0.076%	$105.6M	$142.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.86	+0.019%	$17.6M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDTlong	+0.0100%	4h	315.80	long leg	$35.3M	$55.8M	50x
edgeX TAOUSDC	+0.0100%	4h	315.77	−0.010%	$35K	$304K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.84	+0.013%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.04	+0.076%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	316.23	+0.136%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.11	+0.098%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.84	+0.013%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.90	+0.032%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	315.75	−0.016%	$646	$785K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.92	+0.040%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	−0.306%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	316.10	+0.095%	$57K	$275K	10x	as long as short
Bybit TAOUSDT	+0.0143%	4h	316.19	+0.123%	$68.8M	$146.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.91	+0.033%	$428K	—	100x	as long as short
BingX TAO-USDT	+0.0184%	4h	315.99	+0.060%	—	$30.1M	—	as long as short
Paradex TAO-USD-PERP	+0.0194%	8h	316.20	+0.126%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0195%	1h	315.99	+0.062%	$808K	$2.2M	10x	as long as short
01 Exchange TAOUSD	+0.0208%	1h	316.32	+0.165%	$3K	$4K	5x	as long as short
Aster TAOUSDT	+0.0224%	4h	316.09	+0.092%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0255%	1h	316.17	+0.118%	$94.2M	$105.0M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0309%	1h	316.07	+0.085%	$317K	$910K	10x	as long as short
Extended TAO-USD	+0.0328%	1h	315.97	+0.054%	$922K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.23	+0.136%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	316.41	+0.193%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	316.15	+0.112%	$363K	$409K	10x	as long as short
Lighter TAO	+0.0416%	1h	316.27	+0.149%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0490%	1h	316.14	+0.109%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	316.10	+0.095%	$315K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	+0.043%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.16	+0.114%	$364	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	316.30	+0.158%	$437K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.38	+0.184%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.206%	$23K	$2K	12x	as long as short