Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.074%

Price spread now: BloFin against Katana Perps+0.105%7-day average 0.000% · you sell dearer than you buy

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

Long on Katana Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.142%+$14 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now +0.105%, 7d avg 0.000%

Together, before fees+0.200%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BloFin is 0.105% dearer against Katana Perps than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	313.51	0.0101	pay 0.0101% / 8h	7h 25m	$1K	$1.2M	5x
Short	BloFin TAO-USDT	313.84	0.0376	get 0.0188% / 4h	3h 25m	$4.8M	$10.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.105%Rate

Funding earned: $57.92
Price spread: +0.105% → 0.000%: $10.55
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $52.67
Costs to cover: 0.158%
Break-even: 0.6 days

Slippage unknown: Katana Perps: no order-book sample; BloFin: 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 Katana Perps no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	0.96 bp	11.0 bp −$11	16.6 bp −$166	27.4 bp −$2,745	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	313.11	−0.128%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.72	+0.067%	$49K	$699K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.06	+0.175%	$68.6M	$155.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.00	+0.156%	$26.2M	$128.5M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.14	+0.520%	$167K	$0	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.70	+0.061%	$14.9M	$49.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.37	−0.045%	$17.4M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.62	+0.035%	$35.4M	$56.9M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.50	−0.321%	$535K	$833K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.73	−0.249%	$45K	$255K	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	313.43	−0.026%	$86K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.43	−0.026%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.07	−0.140%	$115K	$566K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.22	−0.093%	$3.1M	$8.1M	50x	as long as short
Katana Perps TAO-USDlong	+0.0101%	8h	313.51	long leg	$1K	$1.2M	5x
Aevo TAO-PERP	+0.0112%	1h	312.83	−0.217%	$172K	$998	3x	as long as short
MEXC TAO_USDT	+0.0136%	4h	314.00	+0.156%	$105.7M	$152.6M	300x	as long as short
BingX TAO-USDT	+0.0136%	4h	314.00	+0.156%	—	$38.7M	—	as long as short
Binance TAOUSDT	+0.0136%	4h	314.04	+0.169%	$91.7M	$525.0M	75x	as long as short
edgeX TAOUSDC	+0.0140%	4h	312.92	−0.190%	$41K	$322K	10x	as long as short
dYdX TAO-USD	+0.0181%	1h	313.17	−0.110%	$126K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0220%	4h	313.71	+0.064%	$53K	$298K	10x	as long as short
Paradex TAO-USD-PERP	+0.0232%	8h	313.69	+0.058%	$14K	$876	10x	as long as short
Bullet TAO-USD	+0.0259%	1h	313.73	+0.070%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0303%	4h	314.04	+0.169%	$1.2M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	313.66	+0.049%	$362K	$445K	10x	as long as short
Extended TAO-USD	+0.0352%	1h	313.77	+0.082%	$886K	$2.3M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0359% / S −0.0107%	1h	313.29	−0.069%	$368K	—	100x	as long as short
BloFin TAO-USDTshort	+0.0376%	4h	313.84	+0.105%	$4.8M	$10.7M	100x
Arcus TAO-USD	+0.0404%	1h	313.80	+0.093%	$99K	$360K	5x	as long as short
Hyperliquid TAO	+0.0473%	1h	313.45	−0.019%	$91.7M	$109.6M	5x	as long as short
Nado TAO-PERP	+0.0486%	1h	313.77	+0.083%	$758K	$2.0M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0566%	1h	313.72	+0.068%	$10K	$1.9M	25x	as long as short
Phoenix TAO	+0.0578%	1h	313.60	+0.029%	$315K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	314.01	+0.159%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0593%	4h	312.65	−0.273%	$5.5M	$10.1M	—	as long as short
Lighter TAO	+0.0640%	1h	313.50	−0.004%	$1.6M	$6.7M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0690%	1h	313.50	−0.003%	$309K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	313.69	+0.056%	$361	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0795%	1h	313.24	−0.085%	$6.0M	$21.3M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	313.49	−0.006%	$446K	$688K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	313.85	+0.108%	$1.1M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	318.23	+1.506%	$23K	$2K	12x	as long as short