Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.332%

Price spread now: Gate against Bulk−0.141%7-day average +0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$400.400% of the position

Long on Bulk Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.382%+$38 on $10k

Price spread, last 4 days (all we have)+0.293%+$29 · spread now −0.141%, 7d avg +0.071%

Together, before fees+0.676%+$68 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: Gate is 0.212% cheaper against Bulk than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	317.85	0.0100	pay 0.0013% / 1h	53m 03s	$169K	$333	10x
Short	Gate TAO_USDT	317.40	0.0100	get 0.0050% / 4h	53m 03s	$14.4M	$50.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bulk. 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 BulkbpFee GatebpOrdersPrice spread, now −0.141%Rate

Funding earned: $0
Price spread: −0.141% → +0.071%: −$21.2
Slippage, 4 orders: −$18.02
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$61.22
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from Bulk: live order book, 51 min ago; Gate: live order book, 1 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 Bulk live order book, 51 min ago	0.16 bp	4.0 bp −$4	6.5 bp −$65	16.5 bp −$1,647	doesn't fit
Sell Gate live order book, 1 min ago	3.15 bp	16.9 bp −$17	21.9 bp −$219	61.7 bp −$6,170	114.5 bp −$57.3K

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.22	−0.197%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0025%	1h	317.28	−0.179%	$127K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.86	+0.003%	$44K	$707K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.30	+0.142%	$26.5M	$130.3M	50x	as long as short
Bulk TAO-USDlong	+0.0100%	1h	317.85	long leg	$169K	$333	10x
Gate TAO_USDTshort	+0.0100%	4h	317.40	−0.141%	$14.4M	$50.9M	50x
KuCoin TAOUSDTM	+0.0100%	4h	317.50	−0.110%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.60	−0.078%	$35.7M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.36	−0.154%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.63	−0.069%	$84K	$1.2M	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	317.53	−0.100%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.43	−0.132%	$116K	$603K	20x	as long as short
Katana Perps TAO-USD	+0.0107%	8h	317.70	−0.047%	$721	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0110% / S +0.0157%	1h	317.18	−0.212%	$423K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	317.54	−0.097%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0137%	4h	317.49	−0.113%	$53K	$293K	10x	as long as short
MEXC TAO_USDT	+0.0160%	4h	317.85	0.000%	$107.4M	$150.4M	300x	as long as short
Binance TAOUSDT	+0.0166%	4h	317.98	+0.043%	$92.3M	$529.0M	75x	as long as short
edgeX TAOUSDC	+0.0171%	4h	317.34	−0.161%	$42K	$318K	10x	as long as short
Paradex TAO-USD-PERP	+0.0230%	8h	317.67	−0.056%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0242%	4h	317.82	−0.009%	—	$36.9M	—	as long as short
Bybit TAOUSDT	+0.0253%	4h	318.26	+0.129%	$69.7M	$156.2M	50x	as long as short
Pacifica TAO	+0.0313%	1h	317.73	−0.037%	$361K	$427K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0316%	4h	317.65	−0.062%	$542K	$926K	10x	as long as short
Bullet TAO-USD	+0.0326%	1h	317.61	−0.075%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0328%	4h	317.95	+0.033%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0328%	1h	317.39	−0.145%	$904K	$2.4M	25x	as long as short
Lighter TAO	+0.0392%	1h	317.92	+0.023%	$1.6M	$6.8M	5x	as long as short
BloFin TAO-USDT	+0.0406%	4h	317.78	−0.022%	$4.7M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0458%	1h	317.68	−0.054%	$787K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.96	+0.035%	$102K	$389K	5x	as long as short
Variational Omni TAO	+0.0498%	4h	316.92	−0.293%	$5.6M	$10.3M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0572%	1h	317.48	−0.115%	$15K	$2.0M	25x	as long as short
Phemex TAOUSDT	+0.0605%	4h	317.76	−0.028%	$3.2M	$8.2M	50x	as long as short
Phoenix TAO	+0.0629%	1h	318.20	+0.110%	$317K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0666%	1h	317.91	+0.019%	$296K	$905K	10x	as long as short
01 Exchange TAOUSD	+0.0696%	1h	318.13	+0.088%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0698%	1h	318.09	+0.076%	$94.1M	$109.9M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.50	−0.110%	$365	—	20x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.68	−0.053%	$438K	$677K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0834%	1h	317.66	−0.059%	$5.9M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.84	+0.312%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	320.67	+0.888%	$23K	$2K	12x	as long as short