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Funding arb · Price arb /

TAO

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0185%/8h= +20.3% APRpaid last 24h +0.022%
Price spread now: Pacifica against GRVT+0.888%7-day average −0.016% · 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+$48as in the Price arb table
costs, in and out, $10k−$420.423% of the position
Long on GRVTShort on Pacifica
What this pair did over the last
the charts below follow
Funding, last 7 days+0.056%+$6 on $10k
Price spread, last 4 days (all we have)−2.501%−$250 · spread now +0.888%, 7d avg −0.016%
Together, before fees−2.445%+ Points / potential airdropGRVT: Active · Pacifica: Active · farm board−$245 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Pacifica is 0.904% dearer against GRVT than usual: you sell high and buy low: +$90 more if the spread goes back to its 7-day average of −0.016%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.056% in total (about 2.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGRVT TAO_USDT_Perp310.290.0100pay 0.0050% / 4h2h 29m$511K$966K10x
ShortPacifica TAO313.040.0285get 0.0036% / 1h29m 34s$368K$381K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica 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

Funding earned
$38.91
Price spread: +0.888% → −0.016%
$90.38
Slippage, 4 orders
−$25.3
Fee GRVT: 4.5 bp × 2 orders
−$9
Fee Pacifica: 4 bp × 2 orders
−$8
Net
$86.99
Costs to cover
0.423%
Break-even
from the start
Slippage from GRVT: live order book, 38 min ago; Pacifica: live order book, 39 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GRVT live order book, 38 min ago1.42 bp11.4 bp −$1117.8 bp −$178doesn't fitdoesn't fit
Sell Pacifica live order book, 39 min ago3.00 bp9.3 bp −$9doesn't fitdoesn't fitdoesn't fit

TAO on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX TAO-USD0.0000%1h312.49+0.710%$125K$84K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0002%1h312.32+0.656%$12K—150xas long as short
Popdex TAOUSDT+0.0096%1h312.77+0.801%$39K$623K20xas long as short
Binance TAOUSDT+0.0100%4h312.69+0.775%$89.7M$463.2M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h312.90+0.842%$25.7M$111.0M50xas long as short
Gate TAO_USDT+0.0100%4h312.90+0.842%$12.7M$50.0M50xas long as short
MEXC TAO_USDT+0.0100%4h312.98+0.868%$107.6M$138.4M300xas long as short
KuCoin TAOUSDTM+0.0100%4h313.15+0.923%$18.0M$30.1M75xas long as short
Bitget TAOUSDT+0.0100%4h312.79+0.807%$34.9M$53.3M50xas long as short
edgeX TAOUSDC+0.0100%4h311.73+0.464%$34K$300K10xas long as short
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GRVT TAO_USDT_Perplong+0.0100%4h310.29long leg$511K$966K10x
ApeX Omni TAOUSDT+0.0100%1h311.54+0.404%$47K$256K50xas long as short
Orderly PERP_TAO_USDC+0.0100%4h312.53+0.723%$57K$282K10xas long as short
SunX TAO-USDT+0.0100%4h312.50+0.714%$1K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h312.47+0.704%$128K$471K20xas long as short
Phemex TAOUSDT+0.0100%4h312.90+0.842%$3.4M$8.0M50xas long as short
Aevo TAO-PERP+0.0104%1h312.48+0.708%$172K$9983xas long as short
Katana Perps TAO-USD+0.0122%8h313.01+0.878%$1K$696K5xas long as short
Polymarket Perps TAO-USD+0.0158%1h312.89+0.839%$82K$678K5xas long as short
Kraken Futures PF_TAOUSD+0.0169%1h313.10+0.905%$5.6M$20.4M50xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0169% / S +0.0090%1h312.34+0.661%$437K—100xas long as short
Bullet TAO-USD+0.0222%1h312.73+0.787%$12K$17K20xas long as short
Aster TAOUSDT+0.0222%4h312.75+0.795%$1.3M$9.4M50xas long as short
Pacifica TAOshort+0.0285%1h313.04+0.888%$368K$381K10x
Paradex TAO-USD-PERP+0.0314%8h312.90+0.842%$14K$1K10xas long as short
Arcus TAO-USD+0.0337%1h313.31+0.975%$98K$529K5xas long as short
Injective TAO/USDC PERP+0.0470%1h312.28+0.643%$23K$2K12xas long as short
Nado TAO-PERP+0.0534%1h312.81+0.815%$776K$2.1M10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0553%1h313.11+0.909%$24K$1.5M25xas long as short
Phoenix TAO+0.0588%1h309.20−0.350%$323K$681K5xas long as short
01 Exchange TAOUSD+0.0648%1h313.14+0.920%$3K$4K5xas long as short
Reya TAORUSDPERP+0.0696%1h312.85+0.826%$360—20xas long as short
BingX TAO-USDT+0.0708%4h313.15+0.923%—$31.0M—as long as short
Variational Omni TAO+0.0774%4h311.95+0.535%$5.4M$8.8M—as long as short
Bybit TAOUSDT+0.0799%4h312.84+0.823%$65.2M$137.2M50xas long as short
Backpack TAO_USDC_PERP+0.0882%1h313.15+0.923%$316K$814K10xas long as short
Extended TAO-USD+0.0920%1h312.91+0.845%$898K$2.3M25xas long as short
Coinbase International TAO-PERP-INTX+0.1024%1h313.88+1.158%$1.5M$6.4M50xas long as short
RISEx TAO/USDC+0.1132%1h313.02+0.883%$448K$631K5xas long as short
Hyperliquid TAO+0.1210%1h313.29+0.968%$99.0M$94.6M5xas long as short
Lighter TAO+0.1416%1h313.32+0.978%$1.6M$6.0M5xas long as short
Bulk TAO-USD+0.4286%1h309.11−0.380%$164K$40K10xas long as short