Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: Orderly against gTrade (Gains Network)−0.023%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Orderly is 0.023% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) TAO/USD	306.28	L +0.0004% / S −0.0007%	pay 0.0001% / 1h	20m 20s	$26K	—	150x
Short	Orderly PERP_TAO_USDC	306.21	0.0100	get 0.0050% / 4h	1h 20m	$59K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.023%Rate

Funding earned: $20.11
Price spread: −0.023% → 0.000%: −$2.32
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.79
Costs to cover: 0.160%
Break-even: 6.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and 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
gTrade (Gains Network) TAO/USDlong	L +0.0004% / S −0.0007%	1h	306.28	long leg	$26K	—	150x
dYdX TAO-USD	+0.0017%	1h	306.40	+0.037%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	306.29	+0.003%	$44K	$539K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	306.24	−0.012%	$85.7M	$414.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	306.34	+0.019%	$59.2M	$121.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	306.30	+0.006%	$24.6M	$95.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.60	+0.104%	$80K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	302.77	−1.146%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	306.20	−0.026%	$12.2M	$49.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	306.25	−0.010%	$113.0M	$125.6M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	306.18	−0.033%	$18.3M	$27.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	306.04	−0.079%	$34.2M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	306.41	+0.042%	—	$30.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.93	−0.767%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	304.26	−0.661%	$503K	$967K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	306.42	+0.045%	$75K	$567K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	306.29	+0.004%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	306.21	−0.023%	$59K	$276K	10x
SunX TAO-USDT	+0.0100%	4h	306.17	−0.036%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	306.36	+0.026%	$122K	$367K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	306.15	−0.043%	$3.2M	$7.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0103%	1h	303.74	−0.830%	$46K	$269K	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	306.41	+0.042%	$168K	$998	3x	as long as short
Variational Omni TAO	+0.0105%	4h	305.97	−0.103%	$3.7M	$6.7M	—	as long as short
Katana Perps TAO-USD	+0.0110%	8h	306.31	+0.009%	$1K	$506K	5x	as long as short
Aster TAOUSDT	+0.0126%	4h	306.27	−0.005%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0158%	8h	306.34	+0.018%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	306.49	+0.069%	$362K	$372K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	306.24	−0.013%	$437K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0210%	1h	306.30	+0.007%	$20K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0312%	1h	306.28	−0.001%	$826K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.02	+0.241%	$4.2M	$9.5M	100x	as long as short
Lighter TAO	+0.0408%	1h	306.40	+0.040%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	306.46	+0.058%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0468%	1h	306.72	+0.143%	$295K	$799K	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.80	−0.810%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	306.18	−0.032%	$352	—	20x	as long as short
Extended TAO-USD	+0.0792%	1h	306.15	−0.043%	$834K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	307.01	+0.238%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1031%	1h	306.26	−0.006%	$5.8M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1077%	1h	306.70	+0.137%	$93.3M	$80.6M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	306.45	+0.057%	$417K	$544K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.800%	$22K	$264	12x	as long as short