Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.4776%/8h= +523.0% APRpaid last 24h +0.620%

Price spread now: Injective against Gate+0.364%54s7-day average — · you sell dearer than you buy

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.384%+$338 on $10k

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 +$143 a day on $10k at the current rate, and Injective is 0.364% dearer against Gate than usual: you sell high and buy low: +$36 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	307.50	0.0100	pay 0.0050% / 4h	2h 34m	$12.1M	$47.8M	50x
Short	Injective TAO/USDC PERP	308.62	0.4876	get 0.0610% / 1h	34m 20s	$22K	$138	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.364%Rate

Funding earned: $1,003
Price spread: +0.364% → 0.000%: $36.42
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,024.4
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 5 min ago; Injective: 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, 5 min ago	3.27 bp	19.9 bp −$20	38.6 bp −$386	54.3 bp −$5,429	91.4 bp −$45.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
dYdX TAO-USD	0.0000%	1h	307.25	−0.081%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	307.46	−0.014%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.51	+0.003%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.48	−0.005%	$363K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.60	+0.033%	$86.3M	$401.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.72	+0.072%	$59.2M	$117.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.50	0.000%	$25.1M	$92.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.62	+0.039%	$137K	$594K	5x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	307.50	long leg	$12.1M	$47.8M	50x
MEXC TAO_USDT	+0.0100%	4h	307.55	+0.016%	$113.2M	$122.6M	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	307.41	−0.029%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.20	−0.098%	$34.5M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.65	+0.049%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.77	−0.563%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.09	−0.785%	$39K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.96	−0.502%	$536K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.64	−0.605%	$46K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.61	+0.036%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.46	−0.013%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.15	−0.114%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.36	−0.046%	$121K	$351K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.16	−0.111%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.44	−0.020%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	307.63	+0.042%	$879	$428K	5x	as long as short
Polymarket Perps TAO-USD	+0.0127%	1h	307.61	+0.036%	$86K	$669K	5x	as long as short
Aster TAOUSDT	+0.0140%	4h	307.67	+0.054%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0167%	8h	307.51	+0.004%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.46	−0.013%	$439K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0189%	1h	307.41	−0.028%	$14K	$1.3M	25x	as long as short
Phoenix TAO	+0.0234%	1h	306.20	−0.423%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0251%	1h	307.53	+0.011%	$852K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.55	−0.309%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	308.12	+0.202%	$3K	$4K	5x	as long as short
Bulk TAO-USD	+0.0668%	1h	304.81	−0.875%	$200K	$57K	10x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.52	+0.008%	$354	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.29	−0.070%	$877K	$1.9M	25x	as long as short
Lighter TAO	+0.0888%	1h	307.80	+0.096%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	307.40	−0.033%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.54	+0.013%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.73	+0.074%	$412K	$537K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1280%	1h	307.27	−0.075%	$470K	$683K	10x	as long as short
Hyperliquid TAO	+0.1674%	1h	308.16	+0.215%	$93.8M	$75.6M	5x	as long as short
Injective TAO/USDC PERPshort	+0.4876%	1h	308.62	+0.364%	$22K	$138	12x