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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0150%/8h= +16.4% APRpaid last 24h −0.137%
Price spread now: Bybit against Kraken Futures−0.081%7-day average −0.025% · you buy dearer than you sell
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$510.508% of the position
Long on Kraken FuturesShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.187%−$19 on $10k
Price spread, last 3 days (all we have)+0.025%+$3 · spread now −0.081%, 7d avg −0.025%
Together, before fees−0.162%−$16 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bybit is 0.056% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of −0.025%). If the spread goes back, that is −$6 on $10k: about 30 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.187%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_TAOUSD319.950.0479pay 0.0060% / 1h56m 59s$5.8M$20.2M50x
ShortBybit TAOUSDT319.690.0629get 0.0315% / 4h3h 56m$65.6M$129.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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

Funding earned
$31.51
Price spread: −0.081% → −0.025%
−$5.58
Slippage, 4 orders
−$29.83
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$24.9
Costs to cover
0.508%
Break-even
12.5 days
Slippage from Kraken Futures: live order book, 2 min ago; Bybit: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 2 min ago7.05 bp12.2 bp −$1233.7 bp −$337172.9 bp −$17.3Kdoesn't fit
Sell Bybit live order book, 2 min ago0.16 bp13.2 bp −$1320.6 bp −$20645.9 bp −$4,592doesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.1799%1h311.96−2.497%$167K$44K10xas long as short
dYdX TAO-USD0.0000%1h318.22−0.540%$127K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h319.94−0.001%$21K—150xas long as short
Popdex TAOUSDT+0.0096%1h318.63−0.412%$39K$575K20xas long as short
Katana Perps TAO-USD+0.0100%8h318.71−0.387%$1K$589K5xas long as short
Binance TAOUSDT+0.0100%4h319.44−0.159%$91.3M$437.2M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h319.30−0.203%$25.8M$106.3M50xas long as short
Gate TAO_USDT+0.0100%4h319.30−0.203%$12.9M$49.3M50xas long as short
MEXC TAO_USDT+0.0100%4h319.31−0.200%$104.4M$130.8M300xas long as short
KuCoin TAOUSDTM+0.0100%4h320.13+0.057%$19.1M$28.2M75xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget TAOUSDT+0.0100%4h319.10−0.265%$35.7M$48.6M50xas long as short
edgeX TAOUSDC+0.0100%4h319.13−0.257%$42K$281K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h317.42−0.789%$531K$942K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h315.82−1.291%$47K$268K50xas long as short
Orderly PERP_TAO_USDC+0.0100%4h320.04+0.028%$57K$314K10xas long as short
SunX TAO-USDT+0.0100%4h319.98+0.010%$1K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h319.89−0.018%$128K$423K20xas long as short
Phemex TAOUSDT+0.0100%4h319.57−0.118%$3.5M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h321.87+0.600%$177K$9983xas long as short
Deribit TAO_USDC-PERPETUAL+0.0170%1h319.99+0.013%$27K$1.5M25xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0071%1h319.83−0.038%$454K—100xas long as short
Pacifica TAO+0.0185%1h318.64−0.409%$377K$371K10xas long as short
Arcus TAO-USD+0.0201%1h319.07−0.275%$84K$545K5xas long as short
Aster TAOUSDT+0.0207%4h319.56−0.121%$1.1M$8.1M50xas long as short
Paradex TAO-USD-PERP+0.0212%8h318.68−0.397%$14K$1K10xas long as short
Variational Omni TAO+0.0233%4h316.35−1.124%$5.4M$8.5M—as long as short
BloFin TAO-USDT+0.0340%4h320.00+0.016%$4.4M$10.8M100xas long as short
Bullet TAO-USD+0.0360%1h320.19+0.075%$12K$17K20xas long as short
BingX TAO-USDT+0.0398%4h319.52−0.134%—$30.7M—as long as short
Kraken Futures PF_TAOUSDlong+0.0479%1h319.95long leg$5.8M$20.2M50x
Polymarket Perps TAO-USD+0.0523%1h319.54−0.128%$118K$613K5xas long as short
Phoenix TAO+0.0537%1h319.30−0.203%$335K$624K5xas long as short
Injective TAO/USDC PERP+0.0571%1h317.85−0.656%$23K$37012xas long as short
Bybit TAOUSDTshort+0.0629%4h319.69−0.081%$65.6M$129.6M50x
Reya TAORUSDPERP+0.0695%1h319.40−0.172%$367—20xas long as short
01 Exchange TAOUSD+0.0856%1h319.07−0.275%$3K$4K5xas long as short
Nado TAO-PERP+0.0901%1h319.24−0.221%$884K$2.0M10xas long as short
Extended TAO-USD+0.0968%1h319.23−0.226%$927K$2.2M25xas long as short
Coinbase International TAO-PERP-INTX+0.0984%1h320.81+0.269%$1.5M$6.0M50xas long as short
RISEx TAO/USDC+0.1141%1h318.78−0.365%$419K$585K5xas long as short
Backpack TAO_USDC_PERP+0.1201%1h319.68−0.084%$317K$817K10xas long as short
Lighter TAO+0.1912%1h320.60+0.202%$1.7M$5.8M5xas long as short
Hyperliquid TAO+0.2990%1h320.42+0.147%$104.6M$88.2M5xas long as short