Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0471%/8h= +51.6% APRpaid last 24h +0.655%

Price spread now: Injective against GRVT+0.500%7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.426%+$343 on $10k

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

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

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Injective is 0.500% dearer against GRVT than usual: you sell high and buy low: +$50 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT TAO_USDT_Perp	316.19	0.0100	pay 0.0050% / 4h	3h 12m	$524K	$958K	10x
Short	Injective TAO/USDC PERP	317.77	0.0571	get 0.0071% / 1h	12m 45s	$23K	$802	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.500%Rate

Funding earned: $99
Price spread: +0.500% → 0.000%: $50.02
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $140.01
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 60 min ago; Injective: 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, 60 min ago	6.56 bp	11.1 bp −$11	14.1 bp −$141	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Bulk TAO-USD	−0.1821%	1h	318.67	+0.785%	$169K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.65	+0.146%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.22	+0.009%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.77	+0.184%	$42K	$598K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.13	−0.018%	$90.6M	$450.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.70	−0.154%	$25.7M	$108.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.80	−0.123%	$12.8M	$51.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.09	−0.031%	$110.1M	$136.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.99	−0.063%	$17.9M	$29.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.52	−0.211%	$35.1M	$51.3M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.13	−0.018%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perplong	+0.0100%	4h	316.19	long leg	$524K	$958K	10x
Bullet TAO-USD	+0.0100%	1h	316.42	+0.074%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.24	+0.016%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.17	−0.006%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.44	+0.080%	$126K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.78	+0.187%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.88	+0.217%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0122%	8h	316.86	+0.212%	$1K	$636K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0097%	1h	316.06	−0.042%	$453K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	317.08	+0.281%	$376K	$375K	10x	as long as short
Aster TAOUSDT	+0.0198%	4h	316.14	−0.015%	$1.2M	$8.8M	50x	as long as short
Arcus TAO-USD	+0.0201%	1h	317.07	+0.279%	$84K	$550K	5x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	317.01	+0.260%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0247%	1h	316.30	+0.036%	$17K	$1.5M	25x	as long as short
ApeX Omni TAOUSDT	+0.0247%	1h	316.20	+0.004%	$48K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0270%	1h	316.82	+0.200%	$93K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.46	+0.086%	$4.5M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0485%	1h	316.40	+0.066%	$5.7M	$20.3M	50x	as long as short
Variational Omni TAO	+0.0516%	4h	316.67	+0.151%	$5.5M	$8.7M	—	as long as short
Phoenix TAO	+0.0525%	1h	316.60	+0.130%	$331K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	316.86	+0.212%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERPshort	+0.0571%	1h	317.77	+0.500%	$23K	$802	12x
BingX TAO-USDT	+0.0596%	4h	316.09	−0.031%	—	$30.4M	—	as long as short
Bybit TAOUSDT	+0.0678%	4h	316.17	−0.006%	$65.1M	$133.4M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	316.41	+0.070%	$364	—	20x	as long as short
Nado TAO-PERP	+0.0762%	1h	316.72	+0.168%	$879K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0805%	1h	316.37	+0.057%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.34	+0.364%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1112%	1h	315.93	−0.083%	$886K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	316.81	+0.198%	$419K	$593K	5x	as long as short
Lighter TAO	+0.1424%	1h	316.22	+0.011%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1850%	1h	316.22	+0.010%	$101.3M	$91.8M	5x	as long as short