Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0296%/8h= +32.5% APRpaid last 24h +0.263%

Price spread now: Katana Perps against Bulk−0.056%7-day average +0.084% · you buy dearer than you sell

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

Long on Bulk Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.440%+$44 on $10k

Price spread, last 4 days (all we have)+0.272%+$27 · spread now −0.056%, 7d avg +0.084%

Together, before fees+0.712%+$71 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.140% cheaper against Bulk than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of +0.084%). If the spread goes back, that is −$14 on $10k: about 38 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	303.81	−0.0186	get 0.0023% / 1h	31m 22s	$162K	$54K	10x
Short	Katana Perps TAO-USD	303.64	0.0111	get 0.0111% / 8h	1h 31m	$3K	$494K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.056%Rate

Funding earned: $62.25
Price spread: −0.056% → +0.084%: −$14.01
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $37.43
Costs to cover: 0.108%
Break-even: 2.8 days

Slippage unknown: Bulk: live order book, 53 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 Bulk live order book, 53 min ago	0.16 bp	3.7 bp −$4	5.1 bp −$51	10.6 bp −$1,063	39.7 bp −$19.8K
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-USDlong	−0.0186%	1h	303.81	long leg	$162K	$54K	10x
dYdX TAO-USD	0.0000%	1h	303.58	−0.076%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.35	−0.150%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.76	−0.016%	$44K	$536K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	303.81	0.000%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.76	−0.016%	$84.9M	$413.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.82	+0.003%	$58.7M	$121.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.70	−0.036%	$24.4M	$95.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.94	+0.043%	$79K	$643K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.50	−0.102%	$12.1M	$48.8M	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	303.62	−0.063%	$110.6M	$125.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	303.65	−0.053%	$18.5M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.55	−0.086%	$33.9M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.65	−0.053%	—	$30.3M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.56	−0.082%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.27	−0.179%	$39K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	302.58	−0.404%	$500K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.45	−0.118%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.79	−0.007%	$74K	$595K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.73	−0.027%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.42	−0.128%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.41	−0.132%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.21	+0.132%	$122K	$364K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.82	+0.003%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.86	+0.015%	$167K	$998	3x	as long as short
Katana Perps TAO-USDshort	+0.0111%	8h	303.64	−0.056%	$3K	$494K	5x
Paradex TAO-USD-PERP	+0.0155%	8h	303.80	−0.003%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.92	+0.037%	$359K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.42	−0.128%	$433K	—	100x	as long as short
BloFin TAO-USDT	+0.0340%	4h	302.95	−0.283%	$4.2M	$9.3M	100x	as long as short
Nado TAO-PERP	+0.0341%	1h	303.85	+0.012%	$820K	$1.9M	10x	as long as short
Lighter TAO	+0.0360%	1h	303.97	+0.053%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	303.93	+0.039%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0414%	1h	303.53	−0.092%	$22K	$1.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0433%	1h	303.90	+0.030%	$378K	$757K	10x	as long as short
Phoenix TAO	+0.0521%	1h	304.00	+0.063%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.63	−0.058%	$349	—	20x	as long as short
Extended TAO-USD	+0.0816%	1h	303.63	−0.061%	$825K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	304.02	+0.069%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1040%	1h	303.71	−0.032%	$5.7M	$19.7M	50x	as long as short
Hyperliquid TAO	+0.1059%	1h	304.03	+0.072%	$92.3M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.92	+0.036%	$411K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.619%	$22K	$264	12x	as long as short