Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.045%

Price spread now: Phemex against gTrade (Gains Network)−0.011%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 Phemex

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) TAO/USD	314.65	L +0.0004% / S −0.0003%	pay 0.0000% / 1h	33m 10s	$19K	—	150x
Short	Phemex TAOUSDT	314.61	0.0100	get 0.0050% / 4h	3h 33m	$3.1M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.011%Rate

Funding earned: $20.21
Price spread: −0.011% → 0.000%: −$1.14
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$2.94
Costs to cover: 0.220%
Break-even: 8.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 6 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 Phemex live order book, 6 min ago	9.05 bp	19.9 bp −$20	32.1 bp −$321	doesn't fit	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 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 −0.0003%	1h	314.65	long leg	$19K	—	150x
Popdex TAOUSDT	+0.0096%	1h	314.45	−0.062%	$50K	$699K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	314.13	−0.164%	$643	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.90	+0.081%	$26.3M	$129.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.70	+0.017%	$14.9M	$49.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.67	+0.008%	$17.7M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.73	+0.027%	$35.4M	$57.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.25	−0.126%	$86K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.24	−0.129%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.26	−0.123%	$115K	$588K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDTshort	+0.0100%	4h	314.61	−0.011%	$3.1M	$8.1M	50x
Aevo TAO-PERP	+0.0120%	1h	314.50	−0.047%	$173K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0124%	1h	315.68	+0.329%	$45K	$257K	50x	as long as short
Bulk TAO-USD	+0.0125%	1h	316.13	+0.472%	$168K	$0	10x	as long as short
MEXC TAO_USDT	+0.0142%	4h	314.95	+0.097%	$104.7M	$152.0M	300x	as long as short
Binance TAOUSDT	+0.0143%	4h	314.80	+0.047%	$91.7M	$525.7M	75x	as long as short
GRVT TAO_USDT_Perp	+0.0144%	4h	315.40	+0.240%	$540K	$876K	10x	as long as short
edgeX TAOUSDC	+0.0147%	4h	315.34	+0.222%	$42K	$321K	10x	as long as short
dYdX TAO-USD	+0.0188%	1h	314.05	−0.189%	$126K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0212%	4h	314.44	−0.065%	$53K	$298K	10x	as long as short
Bullet TAO-USD	+0.0224%	1h	314.55	−0.030%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0239%	8h	314.38	−0.085%	$14K	$876	10x	as long as short
BingX TAO-USDT	+0.0308%	4h	314.98	+0.106%	—	$37.2M	—	as long as short
Aster TAOUSDT	+0.0309%	4h	314.88	+0.074%	$1.2M	$11.1M	50x	as long as short
Extended TAO-USD	+0.0344%	1h	314.42	−0.072%	$894K	$2.3M	25x	as long as short
Bybit TAOUSDT	+0.0346%	4h	315.08	+0.138%	$69.1M	$154.9M	50x	as long as short
Pacifica TAO	+0.0349%	1h	314.62	−0.008%	$369K	$440K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	314.22	−0.135%	$369K	—	100x	as long as short
BloFin TAO-USDT	+0.0383%	4h	314.59	−0.018%	$4.8M	$10.7M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	314.64	−0.002%	$99K	$362K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0422%	1h	314.49	−0.048%	$15K	$1.9M	25x	as long as short
Nado TAO-PERP	+0.0497%	1h	314.57	−0.023%	$761K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0519%	1h	315.12	+0.151%	$92.8M	$108.6M	5x	as long as short
Phoenix TAO	+0.0578%	1h	315.80	+0.367%	$318K	$714K	5x	as long as short
Lighter TAO	+0.0592%	1h	315.08	+0.140%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	314.54	−0.034%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0614%	4h	315.43	+0.250%	$5.6M	$10.1M	—	as long as short
Backpack TAO_USDC_PERP	+0.0674%	1h	315.06	+0.132%	$310K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	315.34	+0.220%	$363	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0790%	1h	314.90	+0.080%	$5.9M	$21.1M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	314.25	−0.124%	$435K	$678K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	314.94	+0.093%	$1.1M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	318.23	+1.139%	$23K	$2K	12x	as long as short