Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.030%

Price spread now: gTrade (Gains Network) against Katana Perps−0.058%7-day average — · you buy dearer than you sell

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

Long on Katana Perps Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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 −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.058% cheaper against Katana Perps than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	311.73	0.0099	pay 0.0099% / 8h	3h 20m	$639	$842K	5x
Short	gTrade (Gains Network) TAO/USD	311.55	L +0.0004% / S −0.0004%	get 0.0001% / 1h	20m 56s	$20K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.058%Rate

Funding earned: −$19.84
Price spread: −0.058% → 0.000%: −$5.81
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$39.45
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; gTrade (Gains Network): no order-book sample. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—

Katana Perps and gTrade (Gains Network): 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
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.72	−0.003%	$5.5M	$20.6M	50x	as long as short
gTrade (Gains Network) TAO/USDshort	L +0.0004% / S −0.0004%	1h	311.55	−0.058%	$20K	—	150x
dYdX TAO-USD	+0.0013%	1h	311.34	−0.124%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.94	+0.067%	$46K	$656K	20x	as long as short
Katana Perps TAO-USDlong	+0.0099%	8h	311.73	long leg	$639	$842K	5x
Pacifica TAO	+0.0100%	1h	311.75	+0.007%	$355K	$414K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.59	−0.045%	$89.3M	$500.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.68	−0.016%	$67.1M	$150.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.60	−0.042%	$26.0M	$120.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.30	−0.138%	$13.2M	$50.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	311.47	−0.083%	$102.3M	$145.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.48	−0.080%	$17.7M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.19	−0.173%	$34.9M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.54	−0.061%	—	$33.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	310.82	−0.291%	$41K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	310.69	−0.332%	$528K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	310.73	−0.321%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.70	−0.010%	$79K	$901K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.83	+0.032%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.62	−0.035%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.34	−0.125%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.56	−0.055%	$3.1M	$8.0M	50x	as long as short
Aster TAOUSDT	+0.0100%	4h	311.65	−0.026%	$1.3M	$10.5M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.73	+0.001%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0116%	4h	311.79	+0.019%	$51K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0137% / S +0.0135%	1h	311.51	−0.070%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0143%	8h	311.83	+0.031%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.16	+0.138%	$101K	$394K	5x	as long as short
Variational Omni TAO	+0.0308%	4h	311.97	+0.077%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0312%	1h	311.38	−0.113%	$904K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0340%	1h	311.69	−0.012%	$785K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.79	+0.019%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	311.10	−0.202%	$310K	$711K	5x	as long as short
Hyperliquid TAO	+0.0458%	1h	311.73	0.000%	$91.6M	$107.7M	5x	as long as short
01 Exchange TAOUSD	+0.0480%	1h	312.05	+0.103%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0492%	1h	311.65	−0.026%	$310K	$885K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0505%	1h	311.84	+0.035%	$15K	$1.8M	25x	as long as short
Lighter TAO	+0.0584%	1h	311.95	+0.069%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.80	+0.023%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.91	+0.058%	$442K	$653K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.259%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	311.52	−0.067%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	315.24	+1.126%	$23K	$2K	12x	as long as short