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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.4179%/8h= −457.6% APRpaid last 24h −0.733%
Price spread now: GRVT against Injective−1.228%108s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on InjectiveShort on GRVT
What this pair did over the last
the charts below follow
Funding, last 7 days−3.552%−$355 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 against this trade now: funding costs −$125 a day on $10k at the current rate, and GRVT is 1.228% cheaper against Injective than usual: you would sell low and buy high (−$123 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective TAO/USDC PERP322.940.4513pay 0.0564% / 1h41m 28s$23K$2K12x
ShortGRVT TAO_USDT_Perp318.970.0334get 0.0167% / 4h41m 28s$544K$926K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GRVT 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

Funding earned
−$877.56
Price spread: −1.228% → 0.000%
−$122.82
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee GRVT: 4.5 bp × 2 orders
−$9
Net
−$1,009.4
Costs to cover
0.090%
Break-even
never at this rate
Slippage unknown: Injective: no order-book sample; GRVT: live order book, 62 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective no order-book sample—————
Sell GRVT live order book, 62 min ago2.82 bp10.6 bp −$1115.9 bp −$159doesn't fitdoesn't fit
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0005%1h318.42−1.400%$22K—150xas long as short
dYdX TAO-USD+0.0050%1h318.66−1.325%$127K$85K5xas long as short
Popdex TAOUSDT+0.0096%1h319.00−1.220%$44K$709K20xas long as short
OKX TAO-USDT-SWAP+0.0100%8h318.70−1.313%$26.5M$130.8M50xas long as short
Gate TAO_USDT+0.0100%4h318.80−1.282%$14.5M$51.2M50xas long as short
KuCoin TAOUSDTM+0.0100%4h318.95−1.236%$17.9M$32.4M75xas long as short
Bitget TAOUSDT+0.0100%4h318.69−1.316%$35.8M$57.9M50xas long as short
Polymarket Perps TAO-USD+0.0100%1h318.82−1.276%$88K$1.2M5xas long as short
SunX TAO-USDT+0.0100%4h318.27−1.446%$2K$2.0M20xas long as short
HTX TAO-USDT+0.0100%4h318.36−1.418%$116K$604K20xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Katana Perps TAO-USD+0.0107%8h318.61−1.341%$3K$1.1M5xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0108% / S +0.0133%1h318.36−1.417%$410K—100xas long as short
Aevo TAO-PERP+0.0128%1h318.81−1.279%$175K$9983xas long as short
Orderly PERP_TAO_USDC+0.0150%4h318.86−1.263%$53K$293K10xas long as short
edgeX TAOUSDC+0.0183%4h318.77−1.290%$42K$318K10xas long as short
MEXC TAO_USDT+0.0184%4h318.94−1.239%$100.4M$151.2M300xas long as short
Binance TAOUSDT+0.0184%4h318.95−1.235%$92.5M$529.7M75xas long as short
Paradex TAO-USD-PERP+0.0250%8h318.89−1.254%$14K$1K10xas long as short
Bybit TAOUSDT+0.0290%4h319.03−1.211%$69.9M$156.5M50xas long as short
BingX TAO-USDT+0.0298%4h318.92−1.245%—$37.0M—as long as short
ApeX Omni TAOUSDT+0.0309%1h318.62−1.338%$46K$260K50xas long as short
Pacifica TAO+0.0313%1h318.95−1.237%$362K$429K10xas long as short
Bulk TAO-USD+0.0314%1h317.73−1.613%$169K$33310xas long as short
GRVT TAO_USDT_Perpshort+0.0334%4h318.97−1.228%$544K$926K10x
Aster TAOUSDT+0.0342%4h318.94−1.237%$1.3M$11.0M50xas long as short
Bullet TAO-USD+0.0351%1h318.66−1.324%$12K$17K20xas long as short
Extended TAO-USD+0.0368%1h318.62−1.337%$908K$2.4M25xas long as short
Deribit TAO_USDC-PERPETUAL+0.0409%1h318.70−1.314%$15K$2.0M25xas long as short
BloFin TAO-USDT+0.0426%4h319.21−1.155%$4.7M$10.9M100xas long as short
Arcus TAO-USD+0.0473%1h319.02−1.214%$103K$381K5xas long as short
Nado TAO-PERP+0.0509%1h318.78−1.289%$790K$2.0M10xas long as short
Variational Omni TAO+0.0534%4h319.26−1.139%$5.6M$10.3M—as long as short
Phemex TAOUSDT+0.0543%4h318.75−1.297%$3.2M$8.2M50xas long as short
Lighter TAO+0.0560%1h319.17−1.167%$1.6M$6.9M5xas long as short
Phoenix TAO+0.0629%1h319.50−1.065%$318K$703K5xas long as short
Reya TAORUSDPERP+0.0698%1h318.55−1.360%$366—20xas long as short
Backpack TAO_USDC_PERP+0.0757%1h319.19−1.161%$297K$904K10xas long as short
01 Exchange TAOUSD+0.0768%1h319.15−1.174%$3K$4K5xas long as short
Hyperliquid TAO+0.0788%1h319.19−1.161%$94.4M$110.2M5xas long as short
Kraken Futures PF_TAOUSD+0.0831%1h318.96−1.231%$6.0M$21.6M50xas long as short
RISEx TAO/USDC+0.0831%1h318.61−1.341%$450K$670K5xas long as short
Coinbase International TAO-PERP-INTX+0.0984%1h319.26−1.140%$1.5M$6.9M50xas long as short
Injective TAO/USDC PERPlong+0.4513%1h322.94long leg$23K$2K12x