Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h +0.033%

Price spread now: Aster against Katana Perps−0.014%7-day average +0.014% · you buy dearer than you sell

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

Long on Katana Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.014%, 7d avg +0.014%

Together, before fees+0.007%+ Points / potential airdropAster: Stage 5 · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.028% cheaper against Katana Perps than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.014%). If the spread goes back, that is −$3 on $10k: about 19 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	315.31	0.0104	pay 0.0104% / 8h	4h 46m	$645	$785K	5x
Short	Aster TAOUSDT	315.27	0.0221	get 0.0111% / 4h	46m 35s	$1.2M	$10.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Katana Perps. 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 Katana PerpsbpFee AsterbpOrdersPrice spread, now −0.014%Rate

Funding earned: $24.62
Price spread: −0.014% → +0.014%: −$2.81
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Aster: 4 bp × 2 orders: −$8
Net: $10.01
Costs to cover: 0.118%
Break-even: 4.2 days

Slippage unknown: Katana Perps: no order-book sample; Aster: 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 Aster live order book, 2 min ago	0.16 bp	6.3 bp −$6	17.6 bp −$176	133.8 bp −$13.4K	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 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	−0.0499%	1h	315.15	−0.051%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.31	+0.001%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.81	+0.160%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.75	+0.139%	$5.6M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.54	+0.073%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.49	+0.057%	$91.0M	$489.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.80	+0.155%	$25.9M	$119.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.30	−0.003%	$12.9M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.58	+0.086%	$105.4M	$142.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.60	+0.092%	$17.5M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.42	+0.035%	$35.2M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.23	−0.342%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.21	−0.349%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.49	+0.057%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	316.03	+0.228%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.81	+0.159%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.73	+0.133%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.75	+0.140%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.69	+0.122%	$173K	$998	3x	as long as short
Katana Perps TAO-USDlong	+0.0104%	8h	315.31	long leg	$645	$785K	5x
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	−0.151%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	315.60	+0.092%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.75	+0.141%	$428K	—	100x	as long as short
Bybit TAOUSDT	+0.0154%	4h	315.76	+0.143%	$68.7M	$146.4M	50x	as long as short
BingX TAO-USDT	+0.0184%	4h	315.44	+0.041%	—	$30.1M	—	as long as short
Paradex TAO-USD-PERP	+0.0195%	8h	315.58	+0.086%	$14K	$1K	10x	as long as short
01 Exchange TAOUSD	+0.0200%	1h	315.50	+0.060%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0210%	1h	315.61	+0.096%	$807K	$2.2M	10x	as long as short
Aster TAOUSDTshort	+0.0221%	4h	315.27	−0.014%	$1.2M	$10.1M	50x
Hyperliquid TAO	+0.0239%	1h	315.92	+0.193%	$94.2M	$104.9M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0307%	1h	316.07	+0.241%	$317K	$910K	10x	as long as short
Extended TAO-USD	+0.0336%	1h	315.60	+0.091%	$922K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.93	+0.197%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.84	+0.168%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.53	+0.070%	$362K	$409K	10x	as long as short
Lighter TAO	+0.0376%	1h	315.50	+0.061%	$1.5M	$6.4M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0480%	1h	315.94	+0.198%	$12K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.257%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0651%	4h	314.33	−0.311%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.57	+0.084%	$363	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.60	+0.091%	$436K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.44	+0.358%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.364%	$23K	$2K	12x	as long as short