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% APRpaid last 24h +0.317%

Price spread now: GRVT against Bulk+0.159%55s7-day average +0.137% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.295% of the position

Long on Bulk Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.364%+$36 on $10k

Price spread, last 4 days (all we have)+0.415%+$42 · spread now +0.159%, 7d avg +0.137%

Together, before fees+0.779%+ Points / potential airdropGRVT: Active · farm board+$78 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: GRVT is 0.022% dearer against Bulk than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.137%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	314.80	0.0100	pay 0.0013% / 1h	0m 08s	$167K	$2K	10x
Short	GRVT TAO_USDT_Perp	315.30	0.0100	get 0.0050% / 4h	0m 08s	$535K	$969K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.137%: $2.22
Slippage, 4 orders: −$13.51
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$27.29
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from Bulk: live order book, 59 min ago; GRVT: live order book, 58 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, 59 min ago	0.16 bp	3.8 bp −$4	7.1 bp −$71	10.5 bp −$1,053	doesn't fit
Sell GRVT live order book, 58 min ago	1.59 bp	9.0 bp −$9	11.8 bp −$118	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	314.94	+0.045%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.73	−0.022%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.96	+0.049%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.10	+0.095%	$43K	$659K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.93	+0.041%	$2K	$800K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.76	−0.013%	$90.9M	$495.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.82	+0.006%	$67.8M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	−0.032%	$26.0M	$120.6M	50x	as long as short
Bulk TAO-USDlong	+0.0100%	1h	314.80	long leg	$167K	$2K	10x
Gate TAO_USDT	+0.0100%	4h	314.60	−0.064%	$13.0M	$50.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	314.79	−0.003%	$100.8M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.63	−0.054%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.47	−0.105%	$35.1M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.78	−0.006%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.22	+0.132%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perpshort	+0.0100%	4h	315.30	+0.159%	$535K	$969K	10x
ApeX Omni TAOUSDT	+0.0100%	1h	315.19	+0.124%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.94	+0.044%	$77K	$862K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.16	+0.116%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.89	+0.029%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.70	−0.032%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.90	+0.032%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.09	+0.091%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	315.02	+0.070%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0144% / S +0.0123%	1h	314.89	+0.029%	$428K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0149%	8h	315.16	+0.114%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0158%	4h	315.10	+0.095%	$1.2M	$10.4M	50x	as long as short
Nado TAO-PERP	+0.0211%	1h	315.00	+0.063%	$801K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0216%	1h	315.02	+0.070%	$923K	$2.4M	25x	as long as short
Hyperliquid TAO	+0.0289%	1h	314.97	+0.054%	$92.6M	$106.7M	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.07	+0.086%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.50	+0.222%	$101K	$440K	5x	as long as short
01 Exchange TAOUSD	+0.0352%	1h	315.18	+0.121%	$3K	$4K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.18	+0.121%	$360K	$412K	10x	as long as short
Backpack TAO_USDC_PERP	+0.0365%	1h	314.90	+0.032%	$313K	$913K	10x	as long as short
Lighter TAO	+0.0384%	1h	315.38	+0.184%	$1.5M	$6.5M	5x	as long as short
Variational Omni TAO	+0.0396%	4h	315.16	+0.114%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0455%	1h	315.11	+0.098%	$22K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.095%	$313K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.14	+0.108%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.13	+0.106%	$439K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.59	+0.251%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	317.67	+0.912%	$23K	$2K	12x	as long as short