Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h −0.065%

Price spread now: Orderly against Extended+0.038%7-day average +0.052% · you sell dearer than you buy

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

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.228%−$23 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.038%, 7d avg +0.052%

Together, before fees−0.167%+ Points / potential airdropExtended: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TAO-USD	314.32	0.0192	pay 0.0024% / 1h	55m 09s	$918K	$2.4M	25x
Short	Orderly PERP_TAO_USDC	314.44	0.0123	get 0.0061% / 4h	3h 55m	$52K	$271K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.038%Rate

Funding earned: −$14.55
Price spread: +0.038% → +0.052%: −$1.4
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$26.95
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 3 min ago; Orderly: 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	3.49 bp	6.2 bp −$6	8.1 bp −$81	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0345%	1h	314.47	+0.048%	$5.5M	$20.6M	50x	as long as short
Gate TAO_USDT	−0.0126%	4h	314.30	−0.007%	$13.1M	$49.2M	50x	as long as short
Popdex TAOUSDT	−0.0032%	1h	314.70	+0.121%	$43K	$653K	20x	as long as short
dYdX TAO-USD	0.0000%	1h	314.25	−0.024%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.40	+0.025%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.50	+0.057%	$2K	$805K	5x	as long as short
Pacifica TAO	+0.0100%	1h	314.12	−0.065%	$358K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.55	+0.073%	$90.8M	$495.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.64	+0.101%	$67.7M	$149.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.50	+0.057%	$26.0M	$120.7M	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	314.80	+0.152%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.55	+0.073%	$101.0M	$143.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.43	+0.035%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.21	−0.035%	$35.1M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.52	+0.063%	—	$33.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.50	+0.058%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.64	−0.218%	$532K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.57	+0.079%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.63	+0.098%	$78K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.79	+0.149%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.26	−0.019%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.11	−0.067%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.68	+0.114%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.24	−0.027%	$173K	$998	3x	as long as short
Hyperliquid TAO	+0.0116%	1h	314.71	+0.124%	$92.4M	$106.9M	5x	as long as short
Orderly PERP_TAO_USDCshort	+0.0123%	4h	314.44	+0.038%	$52K	$271K	10x
Aster TAOUSDT	+0.0131%	4h	314.50	+0.057%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	314.55	+0.073%	$428K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0145%	8h	313.92	−0.127%	$14K	$1K	10x	as long as short
Extended TAO-USDlong	+0.0192%	1h	314.32	long leg	$918K	$2.4M	25x
Nado TAO-PERP	+0.0216%	1h	314.72	+0.126%	$799K	$2.2M	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	314.76	+0.140%	$101K	$441K	5x	as long as short
01 Exchange TAOUSD	+0.0328%	1h	314.79	+0.149%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.51	+0.060%	$4.6M	$10.8M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0349%	1h	314.66	+0.108%	$313K	$914K	10x	as long as short
Variational Omni TAO	+0.0362%	4h	313.70	−0.198%	$5.6M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0366%	1h	314.59	+0.084%	$22K	$1.7M	25x	as long as short
Lighter TAO	+0.0392%	1h	314.80	+0.151%	$1.5M	$6.4M	5x	as long as short
Phoenix TAO	+0.0581%	1h	313.60	−0.229%	$312K	$711K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.71	+0.124%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	314.68	+0.113%	$435K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	314.04	−0.089%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+1.065%	$23K	$2K	12x	as long as short