Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h 0.000%

Price spread now: Aevo against Katana Perps+0.038%7-day average +0.011% · you sell dearer than you buy

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

Long on Katana Perps Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.144%−$14 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now +0.038%, 7d avg +0.011%

Together, before fees−0.105%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aevo is 0.026% dearer against Katana Perps than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of +0.011%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 7.8 days. At the pace of the last 4 days (−0.144% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	317.97	0.0115	pay 0.0115% / 8h	6h 01m	$676	$728K	5x
Short	Aevo TAO-PERP	318.09	0.0104	get 0.0013% / 1h	1m 43s	$175K	$998	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Katana Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Katana PerpsbpFee AevobpOrdersPrice spread, now +0.038%Rate

Funding earned: −$2.35
Price spread: +0.038% → +0.011%: $2.62
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$19.53
Costs to cover: 0.198%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Aevo: live order book, 2 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Aevo live order book, 2 min ago	80.37 bp	106.2 bp −$106	doesn't fit	doesn't fit	doesn't fit

Katana Perps: 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 42 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	−0.0185%	1h	315.28	−0.846%	$167K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.09	−0.276%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.43	−0.171%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.01	+0.013%	$44K	$645K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.32	−0.204%	$91.5M	$466.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.20	−0.242%	$26.3M	$114.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.10	−0.274%	$13.0M	$51.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.54	−0.135%	$103.7M	$140.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.44	−0.167%	$18.0M	$30.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.95	−0.321%	$35.4M	$53.4M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.38	−0.501%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.80	−0.053%	$77K	$720K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.77	−0.063%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.57	−0.126%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.75	−0.069%	$130K	$471K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.49	−0.151%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERPshort	+0.0104%	1h	318.09	+0.038%	$175K	$998	3x
Katana Perps TAO-USDlong	+0.0115%	8h	317.97	long leg	$676	$728K	5x
ApeX Omni TAOUSDT	+0.0149%	1h	316.28	−0.531%	$47K	$253K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0166% / S +0.0103%	1h	317.55	−0.131%	$432K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0166%	1h	317.56	−0.129%	$5.6M	$20.5M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0192%	4h	316.84	−0.356%	$527K	$957K	10x	as long as short
Bullet TAO-USD	+0.0226%	1h	317.82	−0.047%	$12K	$18K	20x	as long as short
Pacifica TAO	+0.0285%	1h	317.51	−0.144%	$370K	$396K	10x	as long as short
Aster TAOUSDT	+0.0286%	4h	317.33	−0.201%	$1.2M	$9.3M	50x	as long as short
Arcus TAO-USD	+0.0337%	1h	318.09	+0.038%	$100K	$489K	5x	as long as short
Paradex TAO-USD-PERP	+0.0359%	8h	317.62	−0.110%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	321.23	+1.025%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0531%	1h	317.71	−0.081%	$759K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	317.40	−0.179%	$333K	$681K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0627%	1h	317.85	−0.039%	$14K	$1.6M	25x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	318.11	+0.044%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.91	−0.019%	$366	—	20x	as long as short
BingX TAO-USDT	+0.0720%	4h	317.35	−0.195%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0724%	4h	317.40	−0.179%	$67.3M	$138.1M	50x	as long as short
Variational Omni TAO	+0.0857%	4h	316.54	−0.450%	$6.1M	$9.5M	—	as long as short
Extended TAO-USD	+0.0896%	1h	317.43	−0.171%	$905K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0920%	1h	317.80	−0.053%	$321K	$806K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	318.74	+0.242%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	317.99	+0.005%	$450K	$626K	5x	as long as short
Hyperliquid TAO	+0.1340%	1h	317.56	−0.129%	$99.9M	$97.2M	5x	as long as short
Lighter TAO	+0.1344%	1h	317.12	−0.268%	$1.6M	$6.1M	5x	as long as short