Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0230%/8h= +25.2% APRpaid last 24h +0.002%

Price spread now: Bullet against Gate−0.006%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Bullet

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

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	318.70	0.0100	pay 0.0050% / 4h	2h 20m	$14.1M	$51.3M	50x
Short	Bullet TAO-USD	318.68	0.0330	get 0.0041% / 1h	20m 56s	$12K	$17K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Gate. 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 GatebpFee BulletbpOrdersPrice spread, now −0.006%Rate

Funding earned: $48.35
Price spread: −0.006% → 0.000%: −$0.63
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bullet: 4 bp × 2 orders: −$8
Net: $24.73
Costs to cover: 0.230%
Break-even: 3.4 days

Slippage unknown: Gate: live order book, 3 min ago; Bullet: 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 Gate live order book, 3 min ago	3.18 bp	18.5 bp −$18	36.6 bp −$366	52.4 bp −$5,241	87.8 bp −$43.9K
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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
Bulk TAO-USD	−0.0038%	1h	313.74	−1.556%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.20	−0.156%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0040%	1h	318.63	−0.021%	$127K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.63	+0.292%	$91.8M	$510.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.80	+0.345%	$26.7M	$125.2M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	318.70	long leg	$14.1M	$51.3M	50x
MEXC TAO_USDT	+0.0100%	4h	319.62	+0.289%	$100.7M	$147.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.60	+0.282%	$17.6M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.25	+0.173%	$36.0M	$57.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.37	−1.044%	$42K	$315K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	318.58	−0.038%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.05	−0.204%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.69	−0.317%	$115K	$562K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.16	−0.169%	$3.2M	$8.0M	50x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	319.02	+0.100%	$2K	$936K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.12	−0.180%	$175K	$998	3x	as long as short
Popdex TAOUSDT	+0.0112%	1h	318.93	+0.072%	$53K	$669K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	318.27	−0.135%	$53K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0128% / S +0.0141%	1h	318.11	−0.186%	$426K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	319.23	+0.165%	$363K	$419K	10x	as long as short
Aster TAOUSDT	+0.0237%	4h	319.14	+0.138%	$1.3M	$10.6M	50x	as long as short
Nado TAO-PERP	+0.0244%	1h	318.83	+0.042%	$803K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0273%	8h	319.36	+0.207%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0299%	1h	318.51	−0.059%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USDshort	+0.0330%	1h	318.68	−0.006%	$12K	$17K	20x
BloFin TAO-USDT	+0.0340%	4h	318.38	−0.100%	$4.6M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0374%	4h	315.91	−0.874%	$537K	$923K	10x	as long as short
BingX TAO-USDT	+0.0402%	4h	319.12	+0.132%	—	$33.7M	—	as long as short
Bybit TAOUSDT	+0.0409%	4h	319.91	+0.380%	$69.7M	$152.9M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0452%	1h	318.15	−0.172%	$15K	$1.8M	25x	as long as short
Variational Omni TAO	+0.0459%	4h	318.52	−0.057%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	319.10	+0.126%	$103K	$345K	5x	as long as short
Extended TAO-USD	+0.0496%	1h	319.79	+0.343%	$907K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	316.70	−0.628%	$315K	$713K	5x	as long as short
ApeX Omni TAOUSDT	+0.0574%	1h	315.18	−1.104%	$45K	$256K	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	318.68	−0.005%	$366	—	20x	as long as short
Lighter TAO	+0.0752%	1h	318.55	−0.047%	$1.5M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	319.61	+0.286%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0820%	1h	319.56	+0.270%	$93.7M	$109.0M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0843%	1h	318.60	−0.031%	$316K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	319.47	+0.242%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	318.93	+0.074%	$461K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+0.245%	$23K	$2K	12x	as long as short