Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.4765%/8h= +521.8% APRpaid last 24h +0.620%

Price spread now: Injective against Katana Perps+0.049%7-day average — · you sell dearer than you buy

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

Long on Katana Perps Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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 for this trade now. Funding pays +$143 a day on $10k at the current rate, and Injective is 0.049% dearer against Katana Perps than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	308.58	0.0111	pay 0.0111% / 8h	2h 11m	$1K	$449K	5x
Short	Injective TAO/USDC PERP	308.73	0.4876	get 0.0610% / 1h	11m 55s	$22K	$271	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.049%Rate

Funding earned: $1,000.68
Price spread: +0.049% → 0.000%: $4.86
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,001.73
Costs to cover: 0.038%
Break-even: from the start

Slippage unknown: Katana Perps: no order-book sample; Injective: 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 Injective no order-book sample	—	—	—	—	—

Katana Perps and 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX TAO-USD	0.0000%	1h	308.28	−0.097%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	308.07	−0.165%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0026%	1h	308.21	−0.119%	$15K	$1.3M	25x	as long as short
Bulk TAO-USD	+0.0052%	1h	305.44	−1.018%	$200K	$57K	10x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.30	−0.091%	$41K	$527K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.63	+0.016%	$365K	$367K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.98	−0.194%	$86.3M	$404.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.08	−0.162%	$59.9M	$119.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.00	−0.188%	$25.5M	$93.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.68	+0.032%	$138K	$603K	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.90	−0.220%	$12.3M	$48.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.11	−0.152%	$118.7M	$125.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.18	−0.130%	$18.7M	$26.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.46	−0.363%	$34.4M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.05	−0.172%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	309.10	+0.167%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.74	+0.376%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.81	+0.400%	$551K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.90	+0.428%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.40	−0.058%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.31	−0.088%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.13	−0.146%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.42	−0.052%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	308.16	−0.136%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	308.02	−0.181%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.33	−0.079%	$169K	$998	3x	as long as short
Katana Perps TAO-USDlong	+0.0111%	8h	308.58	long leg	$1K	$449K	5x
Paradex TAO-USD-PERP	+0.0158%	8h	308.45	−0.042%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0160%	4h	308.12	−0.150%	$1.1M	$7.5M	50x	as long as short
Phoenix TAO	+0.0234%	1h	307.60	−0.318%	$326K	$462K	5x	as long as short
Nado TAO-PERP	+0.0306%	1h	308.43	−0.049%	$853K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	308.46	−0.039%	$4.3M	$9.5M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0485% / S −0.0184%	1h	308.03	−0.178%	$453K	—	100x	as long as short
01 Exchange TAOUSD	+0.0528%	1h	308.65	+0.023%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	308.33	−0.082%	$355	—	20x	as long as short
Extended TAO-USD	+0.0728%	1h	307.59	−0.320%	$907K	$2.0M	25x	as long as short
Lighter TAO	+0.0920%	1h	308.66	+0.027%	$1.7M	$4.8M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0954%	1h	308.20	−0.123%	$383K	$753K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	310.60	+0.655%	$1.5M	$5.5M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1022%	1h	308.53	−0.016%	$6.4M	$19.0M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	308.51	−0.021%	$412K	$542K	5x	as long as short
Hyperliquid TAO	+0.1803%	1h	308.83	+0.081%	$96.6M	$77.4M	5x	as long as short
Injective TAO/USDC PERPshort	+0.4876%	1h	308.73	+0.049%	$22K	$271	12x