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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.3412%/8h= +373.6% APRpaid last 24h +0.764%
Price spread now: Injective against Bybit−0.126%68s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Injective
What this pair did over the last
the charts below follow
Funding, last 7 days+3.564%+$356 on $10k
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
Funding pays, the price is against you. Injective is 0.126% cheaper against Bybit than usual: you would sell low and buy high (spread −0.126% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 3 hours of funding at the current rate (+$102 a day). At the pace of the last 7 days (+3.564% in total) that is about 6 hours. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit TAOUSDT318.170.0100pay 0.0050% / 4h3h 18m$69.5M$154.6M50x
ShortInjective TAO/USDC PERP317.770.3512get 0.0439% / 1h18m 11s$23K$2K12x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective 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

Funding earned
$716.55
Price spread: −0.126% → 0.000%
−$12.57
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$692.96
Costs to cover
0.110%
Break-even
0.2 days
Slippage unknown: Bybit: live order book, 1 min ago; Injective: 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
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 1 min ago0.16 bp10.8 bp −$1119.9 bp −$19946.0 bp −$4,598doesn't fit
Sell Injective no order-book sample—————
Injective: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.0269%1h313.94−1.329%$167K$010xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0003%1h317.54−0.197%$20K—150xas long as short
Popdex TAOUSDT+0.0096%1h318.29+0.038%$49K$697K20xas long as short
Bybit TAOUSDTlong+0.0100%4h318.17long leg$69.5M$154.6M50x
OKX TAO-USDT-SWAP+0.0100%8h318.10−0.022%$26.4M$129.8M50xas long as short
Gate TAO_USDT+0.0100%4h317.80−0.116%$15.1M$50.2M50xas long as short
KuCoin TAOUSDTM+0.0100%4h318.08−0.028%$17.6M$32.3M75xas long as short
Bitget TAOUSDT+0.0100%4h317.98−0.060%$35.8M$56.9M50xas long as short
Polymarket Perps TAO-USD+0.0100%1h317.90−0.085%$88K$1.1M5xas long as short
SunX TAO-USDT+0.0100%4h317.88−0.091%$1K$1.9M20xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX TAO-USDT+0.0100%4h318.33+0.050%$115K$573K20xas long as short
Phemex TAOUSDT+0.0100%4h317.69−0.151%$3.2M$8.1M50xas long as short
Aevo TAO-PERP+0.0120%1h318.10−0.024%$175K$9983xas long as short
Katana Perps TAO-USD+0.0126%8h318.38+0.066%$1K$1.2M5xas long as short
edgeX TAOUSDC+0.0153%4h319.28+0.348%$42K$321K10xas long as short
BingX TAO-USDT+0.0158%4h318.06−0.035%—$38.8M—as long as short
MEXC TAO_USDT+0.0164%4h318.18+0.003%$110.9M$153.8M300xas long as short
Binance TAOUSDT+0.0168%4h318.12−0.015%$92.6M$521.0M75xas long as short
Orderly PERP_TAO_USDC+0.0237%4h318.15−0.006%$54K$272K10xas long as short
Paradex TAO-USD-PERP+0.0241%8h318.27+0.031%$14K$87610xas long as short
dYdX TAO-USD+0.0288%1h318.40+0.072%$128K$87K5xas long as short
ApeX Omni TAOUSDT+0.0293%1h319.06+0.280%$45K$254K50xas long as short
Bullet TAO-USD+0.0294%1h318.08−0.028%$12K$17K20xas long as short
Aster TAOUSDT+0.0335%4h318.170.000%$1.3M$11.1M50xas long as short
Pacifica TAO+0.0349%1h318.49+0.100%$361K$437K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0366% / S −0.0109%1h317.61−0.176%$377K—100xas long as short
GRVT TAO_USDT_Perp+0.0370%4h319.29+0.353%$541K$838K10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0404%1h318.04−0.039%$9K$1.8M25xas long as short
Arcus TAO-USD+0.0404%1h318.78+0.192%$100K$343K5xas long as short
BloFin TAO-USDT+0.0406%4h318.98+0.255%$4.8M$10.9M100xas long as short
Extended TAO-USD+0.0416%1h318.13−0.012%$893K$2.2M25xas long as short
Nado TAO-PERP+0.0462%1h318.31+0.045%$772K$1.9M10xas long as short
Phoenix TAO+0.0578%1h319.20+0.324%$321K$714K5xas long as short
Hyperliquid TAO+0.0589%1h318.41+0.075%$94.5M$109.3M5xas long as short
Variational Omni TAO+0.0616%4h319.30+0.355%$5.6M$10.0M—as long as short
01 Exchange TAOUSD+0.0648%1h318.98+0.255%$3K$4K5xas long as short
Lighter TAO+0.0656%1h318.25+0.024%$1.6M$6.7M5xas long as short
Reya TAORUSDPERP+0.0699%1h318.08−0.028%$366—20xas long as short
Backpack TAO_USDC_PERP+0.0741%1h318.15−0.006%$315K$1.0M10xas long as short
Kraken Futures PF_TAOUSD+0.0783%1h318.06−0.036%$6.1M$21.2M50xas long as short
RISEx TAO/USDC+0.0840%1h318.23+0.018%$452K$706K5xas long as short
Coinbase International TAO-PERP-INTX+0.0944%1h319.66+0.468%$1.1M$7.5M50xas long as short
Injective TAO/USDC PERPshort+0.3512%1h317.77−0.126%$23K$2K12x