Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h +0.066%

Price spread now: Extended against Bybit−0.065%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days+0.056%+$6 · spread now −0.065%, 7d avg −0.049%

Together, before fees+0.157%+ Points / potential airdropExtended: Active · farm board+$16 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	312.37	0.0346	pay 0.0173% / 4h	2h 55m	$67.6M	$151.1M	50x
Short	Extended TAO-USD	312.17	0.0352	get 0.0044% / 1h	55m 59s	$904K	$2.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now −0.065%Rate

Funding earned: $1.26
Price spread: −0.065% → −0.049%: −$1.66
Slippage, 4 orders: −$12.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$29.02
Costs to cover: 0.286%
Break-even: 167.7 days

Slippage from Bybit: live order book, 3 min ago; Extended: live order book, 3 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 Bybit live order book, 3 min ago	0.16 bp	8.7 bp −$9	15.9 bp −$159	36.3 bp −$3,628	doesn't fit
Sell Extended live order book, 3 min ago	3.37 bp	5.9 bp −$6	7.6 bp −$76	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	312.26	−0.036%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.43	+0.020%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	312.58	+0.067%	$1K	$869K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.35	−0.006%	$89.3M	$504.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.30	−0.022%	$26.1M	$121.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.40	+0.010%	$13.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.21	−0.051%	$103.9M	$144.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.64	+0.086%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.98	−0.125%	$35.1M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.10	−0.407%	$41K	$315K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	311.63	−0.237%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.45	+0.026%	$82K	$905K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.50	+0.042%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.08	−0.093%	$110K	$542K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.86	+0.155%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0117%	4h	312.81	+0.141%	$52K	$290K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0122%	4h	311.30	−0.342%	$529K	$942K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0133% / S +0.0138%	1h	312.44	+0.023%	$415K	—	100x	as long as short
Aster TAOUSDT	+0.0133%	4h	312.61	+0.075%	$1.3M	$10.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0200%	8h	312.68	+0.100%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0233%	1h	312.63	+0.083%	$356K	$419K	10x	as long as short
Bulk TAO-USD	+0.0253%	1h	311.89	−0.154%	$166K	$333	10x	as long as short
Bullet TAO-USD	+0.0291%	1h	312.79	+0.134%	$12K	$17K	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0305%	1h	312.67	+0.095%	$5.5M	$20.7M	50x	as long as short
Nado TAO-PERP	+0.0331%	1h	312.67	+0.098%	$778K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.16	+0.253%	$4.6M	$10.8M	100x	as long as short
Bybit TAOUSDTlong	+0.0346%	4h	312.37	long leg	$67.6M	$151.1M	50x
BingX TAO-USDT	+0.0348%	4h	312.64	+0.086%	—	$33.7M	—	as long as short
Extended TAO-USDshort	+0.0352%	1h	312.17	−0.065%	$904K	$2.4M	25x
Popdex TAOUSDT	+0.0360%	1h	312.73	+0.115%	$48K	$662K	20x	as long as short
Variational Omni TAO	+0.0371%	4h	312.91	+0.173%	$5.5M	$10.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0437%	1h	312.67	+0.097%	$11K	$1.8M	25x	as long as short
Phemex TAOUSDT	+0.0454%	4h	312.79	+0.134%	$3.1M	$7.9M	50x	as long as short
Phoenix TAO	+0.0457%	1h	312.80	+0.138%	$311K	$713K	5x	as long as short
Arcus TAO-USD	+0.0483%	1h	312.91	+0.173%	$101K	$370K	5x	as long as short
Hyperliquid TAO	+0.0683%	1h	312.79	+0.133%	$91.5M	$108.3M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.57	+0.064%	$359	—	20x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	313.17	+0.256%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0848%	1h	312.92	+0.177%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0914%	1h	312.74	+0.118%	$311K	$885K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	313.22	+0.272%	$1.5M	$6.7M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	312.71	+0.108%	$445K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	315.73	+1.076%	$23K	$2K	12x	as long as short