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: Bybit against GRVT+0.619%70s7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as 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−$370.374% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 3 days (all we have)−0.996%−$100 · spread now +0.619%, 7d avg −0.010%

Together, before fees−0.959%+ Points / potential airdropGRVT: Active · farm board−$96 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: Bybit is 0.629% dearer against GRVT than usual: you sell high and buy low, +$63 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 70 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	304.26	0.0100	pay 0.0050% / 4h	1h 22m	$503K	$967K	10x
Short	Bybit TAOUSDT	306.14	0.0100	get 0.0050% / 4h	1h 22m	$59.2M	$121.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.619%Rate

Funding earned: $0
Price spread: +0.619% → −0.010%: $62.86
Slippage, 4 orders: −$17.43
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $25.44
Costs to cover: 0.374%
Break-even: from the start

Slippage from GRVT: live order book, 61 min ago; Bybit: 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 GRVT live order book, 61 min ago	1.47 bp	9.9 bp −$10	18.1 bp −$181	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.16 bp	9.7 bp −$10	17.9 bp −$179	39.5 bp −$3,949	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	305.94	+0.554%	$26K	—	150x	as long as short
dYdX TAO-USD	+0.0017%	1h	305.38	+0.369%	$125K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.94	+0.553%	$44K	$539K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	306.07	+0.596%	$85.6M	$414.4M	75x	as long as short
Bybit TAOUSDTshort	+0.0100%	4h	306.14	+0.619%	$59.2M	$121.3M	50x
OKX TAO-USDT-SWAP	+0.0100%	8h	306.10	+0.606%	$24.6M	$95.6M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.11	+0.609%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	303.38	−0.290%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	306.00	+0.573%	$12.2M	$49.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	306.11	+0.609%	$112.3M	$125.4M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	306.08	+0.599%	$18.3M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	305.89	+0.537%	$34.2M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	306.07	+0.596%	—	$30.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.93	−0.108%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perplong	+0.0100%	4h	304.26	long leg	$503K	$967K	10x
Polymarket Perps TAO-USD	+0.0100%	1h	306.18	+0.632%	$75K	$567K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	306.07	+0.596%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.98	+0.566%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	305.06	+0.264%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	305.72	+0.481%	$121K	$367K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.44	+0.389%	$3.2M	$7.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0103%	1h	303.74	−0.170%	$46K	$269K	50x	as long as short
Variational Omni TAO	+0.0104%	4h	303.54	−0.237%	$3.7M	$6.7M	—	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.32	+0.351%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	305.87	+0.530%	$1K	$506K	5x	as long as short
Aster TAOUSDT	+0.0121%	4h	306.10	+0.606%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0160%	8h	305.95	+0.555%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	305.78	+0.499%	$361K	$372K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	305.86	+0.526%	$437K	—	100x	as long as short
Nado TAO-PERP	+0.0318%	1h	305.86	+0.527%	$825K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.87	+0.530%	$4.2M	$9.5M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0401%	1h	305.75	+0.490%	$20K	$1.4M	25x	as long as short
Lighter TAO	+0.0416%	1h	305.81	+0.509%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	306.24	+0.652%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0464%	1h	305.92	+0.546%	$294K	$799K	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.80	−0.150%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	306.05	+0.588%	$352	—	20x	as long as short
Extended TAO-USD	+0.0816%	1h	305.82	+0.514%	$829K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.60	+0.441%	$1.5M	$5.5M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1033%	1h	305.83	+0.516%	$5.8M	$19.7M	50x	as long as short
Hyperliquid TAO	+0.1079%	1h	306.47	+0.727%	$93.1M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	306.10	+0.604%	$417K	$544K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.470%	$22K	$264	12x	as long as short