Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Orderly against Gate−0.797%7-day average +0.043% · you buy dearer than you sell

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

Long on Gate Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)+0.848%+$85 · spread now −0.797%, 7d avg +0.043%

Together, before fees+0.758%+$76 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.840% cheaper against Gate than usual: you would sell low and buy high, −$84 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	314.90	0.0100	pay 0.0050% / 4h	4m 31s	$12.6M	$50.5M	50x
Short	Orderly PERP_TAO_USDC	312.39	0.0100	get 0.0050% / 4h	4m 31s	$60K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.797%Rate

Funding earned: $0
Price spread: −0.797% → +0.043%: −$83.98
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$104.98
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; 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 Gate live order book, 4 min ago	3.20 bp	18.9 bp −$19	42.4 bp −$424	56.9 bp −$5,685	96.0 bp −$48.0K
Sell Orderly no order-book sample	—	—	—	—	—

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
Bulk TAO-USD	−0.2086%	1h	311.96	−0.934%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.54	−0.751%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.36	−0.806%	$27K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	312.08	−0.896%	$23K	$362	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.87	+0.308%	$38K	$573K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.65	−0.396%	$371K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.59	+0.219%	$89.5M	$429.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.90	+0.318%	$62.8M	$126.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.60	+0.222%	$25.3M	$103.0M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	314.90	long leg	$12.6M	$50.5M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.51	−0.441%	$111.3M	$131.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.86	−0.648%	$18.8M	$27.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.44	+0.171%	$35.2M	$47.3M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.55	+0.206%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.07	−0.581%	$41K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.31	−0.504%	$524K	$952K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.86	−0.648%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.64	−0.718%	$76K	$450K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.62	−0.723%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	312.39	−0.797%	$60K	$275K	10x
SunX TAO-USDT	+0.0100%	4h	311.87	−0.962%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.27	−0.835%	$127K	$417K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.47	−0.772%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.73	−0.689%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	315.95	+0.333%	$1K	$568K	5x	as long as short
Aster TAOUSDT	+0.0162%	4h	314.78	−0.038%	$1.1M	$7.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	312.36	−0.807%	$445K	—	100x	as long as short
Arcus TAO-USD	+0.0186%	1h	315.71	+0.257%	$83K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0194%	8h	312.83	−0.658%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0220%	4h	312.31	−0.822%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.71	−0.695%	$4.3M	$10.5M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0405%	1h	312.61	−0.726%	$20K	$1.5M	25x	as long as short
Nado TAO-PERP	+0.0430%	1h	315.59	+0.218%	$835K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.62	−0.725%	$5.7M	$19.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0526%	1h	312.81	−0.664%	$292K	$803K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.50	−0.762%	$327K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0592%	1h	316.05	+0.365%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.46	−0.776%	$359	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	315.64	+0.234%	$863K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.96	−0.299%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1192%	1h	313.39	−0.480%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	315.84	+0.297%	$418K	$585K	5x	as long as short
Hyperliquid TAO	+0.1584%	1h	313.29	−0.511%	$98.2M	$84.6M	5x	as long as short