Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h +0.009%

Price spread now: Deribit against GRVT−0.450%7-day average +0.033% · you buy dearer than you sell

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

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.172%−$17 on $10k

Price spread, last 3 days (all we have)+0.520%+$52 · spread now −0.450%, 7d avg +0.033%

Together, before fees+0.348%+ Points / potential airdropGRVT: Active · farm board+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.484% cheaper against GRVT than usual: you would sell low and buy high (−$48 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT TAO_USDT_Perp	307.77	0.0100	pay 0.0050% / 4h	2h 28m	$539K	$967K	10x
Short	Deribit TAO_USDC-PERPETUAL	306.38	0.0078	get 0.0010% / 1h	28m 30s	$15K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.450%Rate

Funding earned: −$4.62
Price spread: −0.450% → +0.033%: −$48.38
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$69
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 59 min ago; Deribit: live order book, just now. 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, 59 min ago	2.08 bp	11.4 bp −$11	22.9 bp −$229	doesn't fit	doesn't fit
Sell Deribit live order book, just now	3.76 bp	doesn't fit	doesn't fit	doesn't fit	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
dYdX TAO-USD	0.0000%	1h	305.80	−0.640%	$128K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	304.87	−0.942%	$19K	—	150x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0078%	1h	306.38	−0.450%	$15K	$1.3M	25x
Popdex TAOUSDT	+0.0096%	1h	305.15	−0.850%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	305.95	−0.591%	$361K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.02	−0.893%	$85.3M	$403.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	305.20	−0.834%	$59.0M	$118.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.00	−0.899%	$24.9M	$92.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.08	−0.548%	$136K	$595K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	−0.227%	$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	305.60	−0.704%	$12.2M	$48.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.01	−0.896%	$112.7M	$123.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	305.13	−0.857%	$18.4M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	304.69	−1.000%	$34.2M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.02	−0.893%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	−0.077%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.34	−0.139%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perplong	+0.0100%	4h	307.77	long leg	$539K	$967K	10x
ApeX Omni TAOUSDT	+0.0100%	1h	307.19	−0.188%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.68	−0.678%	$86K	$668K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.00	−0.899%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	306.31	−0.474%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	306.19	−0.513%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	306.09	−0.545%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.83	−0.630%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	306.36	−0.456%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	305.28	−0.808%	$3K	$434K	5x	as long as short
Aster TAOUSDT	+0.0147%	4h	305.78	−0.644%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	305.79	−0.642%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	306.18	−0.516%	$437K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.173%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0307%	1h	305.31	−0.799%	$834K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.14	−0.529%	$4.2M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	305.57	−0.714%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	305.01	−0.897%	$351	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	305.57	−0.715%	$901K	$2.0M	25x	as long as short
Lighter TAO	+0.0928%	1h	306.17	−0.519%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	307.34	−0.139%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1029%	1h	306.40	−0.444%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	305.60	−0.703%	$409K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1262%	1h	305.88	−0.613%	$442K	$712K	10x	as long as short
Hyperliquid TAO	+0.1701%	1h	305.62	−0.698%	$93.4M	$75.9M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−0.587%	$22K	$171	12x	as long as short