Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.065%

Price spread now: Katana Perps against Extended+0.071%7-day average +0.070% · you sell dearer than you buy

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

Long on Extended Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.064%+$6 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now +0.071%, 7d avg +0.070%

Together, before fees+0.212%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.070%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TAO-USD	312.50	0.0184	pay 0.0023% / 1h	50m 50s	$918K	$2.4M	25x
Short	Katana Perps TAO-USD	312.72	0.0098	get 0.0098% / 8h	3h 50m	$640	$808K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Extended. 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 ExtendedbpFee Katana PerpsbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$18.01
Price spread: +0.071% → +0.070%: $0.16
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$26.65
Costs to cover: 0.088%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 3 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 Extended live order book, 3 min ago	3.66 bp	6.2 bp −$6	8.3 bp −$83	doesn't fit	doesn't fit
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
Kraken Futures PF_TAOUSD	−0.0348%	1h	312.05	−0.144%	$5.5M	$20.6M	50x	as long as short
Gate TAO_USDT	−0.0174%	4h	312.30	−0.063%	$13.0M	$49.3M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	312.75	+0.080%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.20	−0.095%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.89	+0.126%	$43K	$653K	20x	as long as short
Katana Perps TAO-USDshort	+0.0098%	8h	312.72	+0.071%	$640	$808K	5x
Pacifica TAO	+0.0100%	1h	313.11	+0.197%	$357K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.60	+0.033%	$90.1M	$496.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.67	+0.055%	$67.4M	$149.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.60	+0.033%	$25.9M	$120.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk TAO-USD	+0.0100%	1h	315.10	+0.833%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.65	+0.049%	$101.1M	$143.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.42	−0.025%	$17.7M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.29	−0.066%	$34.9M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.57	+0.023%	—	$33.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.18	+0.537%	$42K	$312K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.25	+0.561%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.66	+0.052%	$81K	$866K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.58	+0.028%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.24	−0.082%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.74	−0.242%	$109K	$536K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.30	−0.064%	$172K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0112%	4h	314.50	+0.642%	$533K	$955K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	312.18	−0.102%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0140%	4h	312.32	−0.057%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0142% / S +0.0125%	1h	312.15	−0.111%	$424K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0143%	8h	313.15	+0.208%	$14K	$1K	10x	as long as short
Hyperliquid TAO	+0.0143%	1h	312.38	−0.038%	$91.6M	$106.7M	5x	as long as short
Extended TAO-USDlong	+0.0184%	1h	312.50	long leg	$918K	$2.4M	25x
Deribit TAO_USDC-PERPETUAL	+0.0230%	1h	312.20	−0.094%	$21K	$1.7M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	313.15	+0.209%	$101K	$441K	5x	as long as short
Nado TAO-PERP	+0.0240%	1h	312.95	+0.146%	$794K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.43	−0.022%	$4.5M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0346%	4h	312.61	+0.036%	$5.6M	$10.0M	—	as long as short
Lighter TAO	+0.0360%	1h	312.45	−0.015%	$1.5M	$6.4M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0388%	1h	312.25	−0.079%	$310K	$914K	10x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	313.00	+0.161%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0457%	1h	313.90	+0.449%	$312K	$711K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.66	+0.052%	$360	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.87	+0.118%	$434K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.56	+0.020%	$1.5M	$6.6M	50x	as long as short
Phemex TAOUSDT	+0.1673%	4h	312.34	−0.050%	$3.2M	$8.1M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+1.562%	$23K	$2K	12x	as long as short