Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Orderly against Bitget+0.292%7-day average +0.048% · you sell dearer than you buy

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

Long on Bitget Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 4 days (all we have)−0.204%−$20 · spread now +0.292%, 7d avg +0.048%

Together, before fees−0.335%−$34 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 0.244% dearer against Bitget than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	318.42	0.0100	pay 0.0050% / 4h	1h 41m	$35.5M	$53.8M	50x
Short	Orderly PERP_TAO_USDC	319.35	0.0100	get 0.0050% / 4h	1h 41m	$58K	$282K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.292%Rate

Funding earned: $0
Price spread: +0.292% → +0.048%: $24.4
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $6.4
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	1.41 bp	12.5 bp −$12	20.1 bp −$201	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
Bulk TAO-USD	−0.3652%	1h	316.49	−0.606%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.47	+0.016%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.02	+0.188%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.69	+0.399%	$45K	$653K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.98	+0.176%	$92.4M	$470.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.10	+0.214%	$26.3M	$116.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.90	+0.151%	$13.0M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.12	+0.220%	$106.2M	$139.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.00	+0.182%	$18.0M	$30.8M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	318.42	long leg	$35.5M	$53.8M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.72	−0.218%	$36K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.23	+0.254%	$76K	$759K	5x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	319.35	+0.292%	$58K	$282K	10x
SunX TAO-USDT	+0.0100%	4h	319.07	+0.204%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.59	+0.367%	$130K	$478K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.97	+0.173%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.47	+0.329%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	319.55	+0.355%	$1K	$752K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0163% / S +0.0106%	1h	318.95	+0.166%	$434K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0206%	4h	316.82	−0.502%	$523K	$955K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0246%	1h	319.37	+0.297%	$5.6M	$20.5M	50x	as long as short
Bullet TAO-USD	+0.0286%	1h	319.37	+0.298%	$12K	$18K	20x	as long as short
Aster TAOUSDT	+0.0322%	4h	318.90	+0.151%	$1.2M	$9.3M	50x	as long as short
Paradex TAO-USD-PERP	+0.0331%	8h	318.95	+0.165%	$14K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.53	+0.035%	$4.5M	$10.4M	100x	as long as short
Pacifica TAO	+0.0448%	1h	318.99	+0.178%	$376K	$396K	10x	as long as short
Phoenix TAO	+0.0504%	1h	318.30	−0.038%	$333K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	319.41	+0.311%	$101K	$489K	5x	as long as short
Nado TAO-PERP	+0.0525%	1h	319.58	+0.365%	$770K	$2.1M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0535%	1h	319.27	+0.268%	$18K	$1.6M	25x	as long as short
BingX TAO-USDT	+0.0642%	4h	319.14	+0.226%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0658%	4h	319.31	+0.280%	$68.1M	$139.8M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	319.26	+0.263%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	320.00	+0.496%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0885%	4h	316.62	−0.565%	$5.9M	$9.7M	—	as long as short
Extended TAO-USD	+0.0920%	1h	318.97	+0.173%	$921K	$2.3M	25x	as long as short
Lighter TAO	+0.0960%	1h	319.19	+0.241%	$1.6M	$6.3M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0960%	1h	319.59	+0.367%	$439K	$860K	10x	as long as short
ApeX Omni TAOUSDT	+0.0992%	1h	317.14	−0.402%	$47K	$254K	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	320.00	+0.496%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	319.34	+0.288%	$453K	$627K	5x	as long as short
Hyperliquid TAO	+0.1386%	1h	319.19	+0.242%	$100.2M	$98.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	319.69	+0.399%	$23K	$2K	12x	as long as short