Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0370%/8h= +40.5% APRpaid last 24h +0.038%

Price spread now: Bybit against gTrade (Gains Network)+0.230%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Bybit is 0.230% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) TAO/USD	311.45	L +0.0004% / S −0.0003%	pay 0.0000% / 1h	51m 51s	$19K	—	150x
Short	Bybit TAOUSDT	312.17	0.0374	get 0.0187% / 4h	51m 51s	$68.9M	$154.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now +0.230%Rate

Funding earned: $77.72
Price spread: +0.230% → 0.000%: $22.99
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $79.71
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 5 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	0.16 bp	8.0 bp −$8	15.7 bp −$157	37.8 bp −$3,778	doesn't fit

gTrade (Gains Network): 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 exchanges

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
gTrade (Gains Network) TAO/USDlong	L +0.0004% / S −0.0003%	1h	311.45	long leg	$19K	—	150x
Popdex TAOUSDT	+0.0096%	1h	311.73	+0.089%	$54K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.20	+0.240%	$26.6M	$125.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.70	+0.079%	$16.0M	$46.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.64	+0.060%	$17.2M	$30.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.71	+0.082%	$35.3M	$54.2M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.73	+0.731%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.62	+0.053%	$68K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.55	+0.031%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.88	+0.137%	$113K	$552K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0102%	8h	311.86	+0.130%	$2K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	311.87	+0.134%	$927K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0120%	1h	311.89	+0.138%	$171K	$998	3x	as long as short
MEXC TAO_USDT	+0.0170%	4h	312.03	+0.185%	$110.9M	$146.9M	300x	as long as short
edgeX TAOUSDC	+0.0170%	4h	313.80	+0.754%	$41K	$324K	10x	as long as short
Binance TAOUSDT	+0.0172%	4h	312.03	+0.184%	$92.6M	$506.5M	75x	as long as short
Pacifica TAO	+0.0223%	1h	312.24	+0.252%	$369K	$445K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0278%	4h	313.81	+0.757%	$534K	$786K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0280%	4h	311.68	+0.073%	$52K	$262K	10x	as long as short
Paradex TAO-USD-PERP	+0.0306%	8h	312.28	+0.264%	$14K	$769	10x	as long as short
dYdX TAO-USD	+0.0309%	1h	311.92	+0.149%	$263K	$230K	5x	as long as short
Aster TAOUSDT	+0.0348%	4h	312.06	+0.195%	$1.2M	$11.4M	50x	as long as short
Bullet TAO-USD	+0.0360%	1h	311.87	+0.132%	$12K	$16K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0367% / S −0.0112%	1h	311.44	−0.006%	$373K	—	100x	as long as short
BingX TAO-USDT	+0.0372%	4h	311.98	+0.169%	—	$37.7M	—	as long as short
Bybit TAOUSDTshort	+0.0374%	4h	312.17	+0.230%	$68.9M	$154.4M	50x
Deribit TAO_USDC-PERPETUAL	+0.0383%	1h	311.71	+0.083%	$25K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0412%	4h	313.23	+0.570%	$4.9M	$10.4M	100x	as long as short
Lighter TAO	+0.0472%	1h	311.81	+0.113%	$1.5M	$6.7M	5x	as long as short
Phemex TAOUSDT	+0.0474%	4h	311.81	+0.114%	$3.1M	$8.3M	50x	as long as short
Arcus TAO-USD	+0.0587%	1h	312.43	+0.313%	$98K	$284K	5x	as long as short
Nado TAO-PERP	+0.0590%	1h	311.59	+0.044%	$648K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0597%	4h	314.17	+0.873%	$5.8M	$9.7M	—	as long as short
Hyperliquid TAO	+0.0599%	1h	311.86	+0.130%	$93.4M	$105.1M	5x	as long as short
Phoenix TAO	+0.0636%	1h	314.40	+0.946%	$316K	$701K	5x	as long as short
RISEx TAO/USDC	+0.0694%	1h	312.08	+0.201%	$436K	$657K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	311.70	+0.080%	$358	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0728%	1h	312.37	+0.294%	$1.1M	$7.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0866%	1h	311.87	+0.132%	$6.2M	$19.6M	50x	as long as short
01 Exchange TAOUSD	+0.0872%	1h	312.42	+0.310%	$3K	$2K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0915%	1h	311.78	+0.105%	$298K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.1436%	1h	313.89	+0.782%	$166K	$662	10x	as long as short
Injective TAO/USDC PERP	+0.4136%	1h	318.16	+2.153%	$23K	$2K	12x	as long as short