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 +0.017%

Price spread now: Bitget against GRVT+0.039%73s7-day average −0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as 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−$420.417% of the position

Long on GRVT Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 3 days (all we have)−0.366%−$37 · spread now +0.039%, 7d avg −0.068%

Together, before fees−0.319%+ Points / potential airdropGRVT: Active · farm board−$32 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: Bitget is 0.107% dearer against GRVT than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.068%. The two prices were read 73 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	313.05	0.0100	pay 0.0050% / 4h	28m 12s	$519K	$956K	10x
Short	Bitget TAOUSDT	313.17	0.0100	get 0.0050% / 4h	28m 12s	$34.9M	$46.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → −0.068%: $10.74
Slippage, 4 orders: −$20.7
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$30.97
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from GRVT: live order book, 50 min ago; Bitget: live order book, 1 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, 50 min ago	1.31 bp	8.5 bp −$9	19.7 bp −$197	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.91 bp	11.2 bp −$11	18.4 bp −$184	35.9 bp −$3,589	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	−0.4493%	1h	315.57	+0.806%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.46	+0.132%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.07	+0.007%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+0.608%	$23K	$361	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.23	+0.058%	$35K	$565K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.74	+0.221%	$371K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.26	+0.069%	$89.0M	$426.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.68	+0.202%	$61.6M	$124.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.60	+0.176%	$25.2M	$101.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.10	+0.017%	$12.7M	$49.7M	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	313.29	+0.077%	$109.6M	$129.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.17	+0.039%	$18.8M	$27.7M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	313.17	+0.039%	$34.9M	$46.5M	50x
BingX TAO-USDT	+0.0100%	4h	313.29	+0.077%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.36	+0.737%	$41K	$281K	10x	as long as short
GRVT TAO_USDT_Perplong	+0.0100%	4h	313.05	long leg	$519K	$956K	10x
Bullet TAO-USD	+0.0100%	1h	313.33	+0.090%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.15	+0.033%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.07	+0.007%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.86	+0.260%	$127K	$402K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.27	+0.071%	$3.3M	$7.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0104%	1h	313.39	+0.109%	$77K	$489K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.44	+0.126%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.36	+0.100%	$1K	$552K	5x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.89	+0.269%	$83K	$586K	5x	as long as short
Paradex TAO-USD-PERP	+0.0192%	8h	313.59	+0.172%	$14K	$1K	10x	as long as short
ApeX Omni TAOUSDT	+0.0192%	1h	315.38	+0.745%	$47K	$267K	50x	as long as short
Aster TAOUSDT	+0.0196%	4h	313.20	+0.049%	$1.1M	$7.9M	50x	as long as short
Variational Omni TAO	+0.0200%	4h	313.88	+0.266%	$4.0M	$7.0M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0209%	1h	313.33	+0.091%	$21K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.04	+0.317%	$4.3M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0445%	1h	313.46	+0.132%	$827K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.32	+0.086%	$5.7M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.08	+0.010%	$449K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0529%	1h	314.41	+0.435%	$298K	$801K	10x	as long as short
Phoenix TAO	+0.0537%	1h	314.20	+0.368%	$329K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	313.49	+0.141%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.22	+0.055%	$360	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	313.32	+0.088%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.04	+0.317%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1216%	1h	313.88	+0.267%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.43	+0.124%	$437K	$567K	5x	as long as short
Hyperliquid TAO	+0.1749%	1h	313.74	+0.221%	$97.8M	$83.8M	5x	as long as short