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 −0.635%

Price spread now: Gate against Injective−0.494%99s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−3.421%−$342 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Gate is 0.494% cheaper against Injective than usual: you would sell low and buy high (−$49 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 99 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	Injective TAO/USDC PERP	317.77	0.0571	pay 0.0071% / 1h	15m 42s	$23K	$802	12x
Short	Gate TAO_USDT	316.20	0.0100	get 0.0050% / 4h	3h 15m	$12.8M	$51.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now −0.494%Rate

Funding earned: −$99
Price spread: −0.494% → 0.000%: −$49.41
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$163.43
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 3 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	4.73 bp	17.3 bp −$17	37.7 bp −$377	78.7 bp −$7,875	135.8 bp −$67.9K

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	+0.283%	$169K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.95	−0.573%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.39	−0.434%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.48	−0.406%	$43K	$597K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.30	−0.464%	$90.7M	$449.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.40	−0.431%	$25.8M	$108.8M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	316.20	−0.494%	$12.8M	$51.0M	50x
MEXC TAO_USDT	+0.0100%	4h	316.39	−0.434%	$109.7M	$136.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.32	−0.456%	$18.0M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.03	−0.548%	$35.2M	$51.2M	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	318.35	+0.181%	$40K	$293K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	319.06	+0.405%	$528K	$960K	10x	as long as short
Bullet TAO-USD	+0.0100%	1h	316.67	−0.346%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.47	−0.409%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.38	−0.437%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.45	−0.415%	$126K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.60	−0.368%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.69	−0.339%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	316.10	−0.526%	$2K	$633K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0094%	1h	316.37	−0.441%	$455K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	316.43	−0.422%	$375K	$375K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	316.45	−0.415%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0203%	4h	316.20	−0.493%	$1.2M	$8.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0233%	8h	316.48	−0.406%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0275%	1h	316.78	−0.312%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0275%	1h	316.61	−0.364%	$17K	$1.5M	25x	as long as short
ApeX Omni TAOUSDT	+0.0292%	1h	318.26	+0.154%	$49K	$267K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.01	−0.239%	$4.4M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0484%	1h	316.54	−0.388%	$5.7M	$20.3M	50x	as long as short
Variational Omni TAO	+0.0516%	4h	316.67	−0.347%	$5.5M	$8.7M	—	as long as short
Phoenix TAO	+0.0525%	1h	318.00	+0.072%	$333K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0568%	1h	316.96	−0.255%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERPlong	+0.0571%	1h	317.77	long leg	$23K	$802	12x
BingX TAO-USDT	+0.0596%	4h	316.53	−0.390%	—	$30.4M	—	as long as short
Bybit TAOUSDT	+0.0660%	4h	316.60	−0.368%	$65.2M	$133.3M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	316.49	−0.402%	$364	—	20x	as long as short
Nado TAO-PERP	+0.0778%	1h	316.44	−0.418%	$879K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0817%	1h	316.20	−0.494%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.35	−0.132%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1128%	1h	316.20	−0.494%	$886K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	316.10	−0.526%	$418K	$593K	5x	as long as short
Lighter TAO	+0.1416%	1h	316.83	−0.296%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.1888%	1h	316.77	−0.315%	$101.6M	$91.7M	5x	as long as short