Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h 0.000%

Price spread now: OKX against Gate+0.064%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 7 days−0.093%−$9 · spread now +0.064%, 7d avg −0.015%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.079% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	313.20	0.0004	pay 0.0002% / 4h	3h 57m	$13.0M	$49.2M	50x
Short	OKX TAO-USDT-SWAP	313.40	0.0100	get 0.0100% / 8h	3h 57m	$25.9M	$120.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.064%Rate

Funding earned: $20.16
Price spread: +0.064% → −0.015%: $7.86
Slippage, 4 orders: −$25.24
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.22
Costs to cover: 0.502%
Break-even: 14.7 days

Slippage from Gate: live order book, 2 min ago; OKX: live order book, 2 min ago.

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, 2 min ago	3.18 bp	19.0 bp −$19	39.1 bp −$391	55.6 bp −$5,562	91.1 bp −$45.6K
Sell OKX live order book, 2 min ago	1.59 bp	7.4 bp −$7	17.4 bp −$174	64.5 bp −$6,455	doesn't fit

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
Kraken Futures PF_TAOUSD	−0.0346%	1h	313.60	+0.129%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	314.80	+0.511%	$126K	$85K	5x	as long as short
Gate TAO_USDTlong	+0.0004%	4h	313.20	long leg	$13.0M	$49.2M	50x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.91	+0.227%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.45	+0.399%	$43K	$655K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.12	+0.294%	$2K	$801K	5x	as long as short
Hyperliquid TAO	+0.0100%	1h	313.66	+0.147%	$92.2M	$106.7M	5x	as long as short
Pacifica TAO	+0.0100%	1h	315.02	+0.581%	$359K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.49	+0.093%	$90.5M	$495.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.39	+0.061%	$67.5M	$149.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TAO-USDT-SWAPshort	+0.0100%	8h	313.40	+0.064%	$25.9M	$120.1M	50x
Bulk TAO-USD	+0.0100%	1h	314.80	+0.511%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.30	+0.032%	$100.5M	$143.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.61	+0.131%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.16	−0.013%	$35.0M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.40	+0.064%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.93	+0.552%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.82	+0.516%	$534K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.03	+0.584%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.33	+0.361%	$77K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.25	+0.334%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.15	+0.303%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.25	+0.016%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.72	+0.166%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.96	+0.242%	$172K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0122%	1h	313.65	+0.143%	$22K	$1.7M	25x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	313.87	+0.214%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	313.90	+0.223%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0146%	8h	314.85	+0.526%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0151%	4h	314.54	+0.427%	$1.2M	$10.4M	50x	as long as short
Nado TAO-PERP	+0.0161%	1h	314.50	+0.416%	$799K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0200%	1h	313.58	+0.123%	$918K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	314.72	+0.485%	$101K	$440K	5x	as long as short
Lighter TAO	+0.0312%	1h	313.79	+0.187%	$1.5M	$6.4M	5x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	314.42	+0.390%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0326%	1h	313.30	+0.032%	$311K	$914K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.29	+0.029%	$4.5M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0396%	4h	315.16	+0.626%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.734%	$314K	$695K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.37	+0.374%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	314.37	+0.375%	$435K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	315.26	+0.658%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+1.427%	$23K	$2K	12x	as long as short