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 +0.020%

Price spread now: Binance against GRVT−0.717%109s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.333% of the position

Long on GRVT Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 3 days (all we have)+0.333%+$33 · spread now −0.717%, 7d avg −0.029%

Together, before fees+0.304%+ Points / potential airdropGRVT: Active · farm board+$30 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: Binance is 0.687% cheaper against GRVT than usual: you would sell low and buy high, −$69 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 109 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	GRVT TAO_USDT_Perp	314.40	0.0100	pay 0.0050% / 4h	53m 44s	$520K	$950K	10x
Short	Binance TAOUSDT	312.15	0.0100	get 0.0050% / 4h	53m 44s	$88.4M	$420.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GRVT. 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 GRVTbpFee BinancebpOrdersPrice spread, now −0.717%Rate

Funding earned: $0
Price spread: −0.717% → −0.029%: −$68.7
Slippage, 4 orders: −$14.26
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$101.97
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from GRVT: live order book, 24 min ago; Binance: live order book, 5 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 GRVT live order book, 24 min ago	1.31 bp	8.5 bp −$9	19.7 bp −$197	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.16 bp	7.9 bp −$8	14.8 bp −$148	35.9 bp −$3,585	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
Bulk TAO-USD	−0.1120%	1h	305.94	−2.692%	$164K	$52K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.07	−0.742%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.74	−0.846%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	308.73	−1.804%	$22K	$259	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.77	−0.837%	$40K	$555K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.21	−0.697%	$369K	$370K	10x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	312.15	−0.717%	$88.4M	$420.5M	75x
Bybit TAOUSDT	+0.0100%	4h	312.26	−0.682%	$60.9M	$123.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.20	−0.701%	$25.1M	$99.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.00	−0.764%	$12.5M	$48.5M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	312.25	−0.685%	$119.6M	$125.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.05	−0.748%	$19.0M	$27.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.19	−0.704%	$35.0M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.22	−0.694%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.12	−0.091%	$41K	$278K	10x	as long as short
GRVT TAO_USDT_Perplong	+0.0100%	4h	314.40	long leg	$520K	$950K	10x
Orderly PERP_TAO_USDC	+0.0100%	4h	311.85	−0.812%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.78	−0.834%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.37	+0.308%	$127K	$392K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.68	−0.866%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.11	−0.729%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	312.69	−0.545%	$3K	$536K	5x	as long as short
Bullet TAO-USD	+0.0112%	1h	312.00	−0.765%	$11K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0112%	1h	311.92	−0.790%	$76K	$539K	5x	as long as short
Variational Omni TAO	+0.0177%	4h	314.40	0.000%	$3.9M	$6.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0184%	1h	311.83	−0.819%	$19K	$1.4M	25x	as long as short
Paradex TAO-USD-PERP	+0.0185%	8h	311.88	−0.804%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	312.50	−0.605%	$81K	$644K	5x	as long as short
Aster TAOUSDT	+0.0202%	4h	312.19	−0.705%	$1.1M	$7.8M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.05	−0.112%	$4.3M	$9.8M	100x	as long as short
ApeX Omni TAOUSDT	+0.0361%	1h	314.07	−0.106%	$47K	$269K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0450%	1h	311.95	−0.780%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0474% / S −0.0175%	1h	311.67	−0.869%	$447K	—	100x	as long as short
Phoenix TAO	+0.0521%	1h	313.80	−0.192%	$328K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0569%	1h	311.98	−0.771%	$299K	$798K	10x	as long as short
Nado TAO-PERP	+0.0619%	1h	311.90	−0.797%	$835K	$2.0M	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.77	−0.839%	$359	—	20x	as long as short
Extended TAO-USD	+0.0784%	1h	312.22	−0.693%	$864K	$2.1M	25x	as long as short
01 Exchange TAOUSD	+0.0936%	1h	312.29	−0.672%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	312.45	−0.621%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	312.43	−0.628%	$430K	$536K	5x	as long as short
Lighter TAO	+0.1368%	1h	312.41	−0.634%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2301%	1h	312.90	−0.478%	$97.9M	$82.7M	5x	as long as short