Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Bullet against GRVT+0.676%66s7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.676% dearer against GRVT than usual: you sell high and buy low, +$68 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 66 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	305.16	0.0100	pay 0.0050% / 4h	2h 23m	$535K	$967K	10x
Short	Bullet TAO-USD	307.22	0.0100	get 0.0013% / 1h	23m 47s	$11K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.676%Rate

Funding earned: $0
Price spread: +0.676% → 0.000%: $67.62
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: $50.62
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: GRVT: live order book, 64 min ago; Bullet: 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 GRVT live order book, 64 min ago	2.08 bp	11.4 bp −$11	22.9 bp −$229	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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	306.93	+0.581%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0006%	1h	307.17	+0.659%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0007%	1h	307.32	+0.710%	$15K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.03	+0.614%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.21	+0.673%	$363K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.75	+0.850%	$86.0M	$403.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.12	+0.971%	$59.5M	$118.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.10	+0.965%	$25.4M	$93.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.51	+0.771%	$137K	$598K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	+0.627%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.50	+0.768%	$12.2M	$48.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.69	+0.830%	$114.3M	$123.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.53	+0.778%	$18.6M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.96	+0.919%	$34.5M	$44.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.96	+0.919%	—	$30.5M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.90	+0.243%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.13	−0.010%	$39K	$276K	10x	as long as short
GRVT TAO_USDT_Perplong	+0.0100%	4h	305.16	long leg	$535K	$967K	10x
ApeX Omni TAOUSDT	+0.0100%	1h	304.90	−0.084%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	307.37	+0.725%	$77K	$675K	5x	as long as short
Bullet TAO-USDshort	+0.0100%	1h	307.22	+0.676%	$11K	$18K	20x
Orderly PERP_TAO_USDC	+0.0100%	4h	307.22	+0.676%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.15	+0.653%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.30	+0.702%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.29	+0.699%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.72	+0.840%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	307.10	+0.637%	$1K	$437K	5x	as long as short
Aster TAOUSDT	+0.0162%	4h	307.60	+0.802%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0165%	8h	307.10	+0.638%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.10	+0.638%	$438K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	305.60	+0.145%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0297%	1h	307.02	+0.611%	$840K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.84	+0.552%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.39	+0.732%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.32	+0.709%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.69	+0.832%	$902K	$2.0M	25x	as long as short
Lighter TAO	+0.0920%	1h	307.86	+0.887%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.04	+0.945%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.54	+0.780%	$6.3M	$19.3M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.23	+0.679%	$414K	$537K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1135%	1h	307.53	+0.778%	$444K	$715K	10x	as long as short
Hyperliquid TAO	+0.1741%	1h	308.68	+1.155%	$94.4M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	+0.263%	$22K	$171	12x	as long as short