Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.120%

Price spread now: Variational Omni against Kraken Futures+1.395%7-day average −0.010% · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.211%−$21 on $10k

Price spread, last 3 days (all we have)−1.566%−$157 · spread now +1.395%, 7d avg −0.010%

Together, before fees−1.777%+ Points / potential airdropVariational Omni: Active · farm board−$178 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 1.405% dearer against Kraken Futures than usual: you sell high and buy low (spread +1.395% now, against its 7-day average of −0.010%): +$140 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 44 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	316.90	0.0484	pay 0.0060% / 1h	37m 39s	$5.7M	$20.3M	50x
Short	Variational Omni TAO	321.33	0.0378	get 0.0189% / 4h	3h 37m	$5.6M	$8.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now +1.395%Rate

Funding earned: −$22.2
Price spread: +1.395% → −0.010%: $140.49
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $108.29
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 1 min ago; Variational Omni: RFQ quote, 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 Kraken Futures live order book, 1 min ago	4.73 bp	9.9 bp −$10	30.9 bp −$309	92.6 bp −$9,255	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.88 bp	doesn't fit	24.2 bp −$242	doesn't fit	doesn't fit

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	−0.1322%	1h	319.84	+0.927%	$170K	$44K	10x	as long as short
Phemex TAOUSDT	−0.0733%	4h	316.88	−0.007%	$3.4M	$7.9M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	317.69	+0.249%	$127K	$88K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	316.82	−0.027%	$20K	$1.5M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.79	−0.036%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.15	+0.078%	$41K	$584K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.54	+0.516%	$92.1M	$444.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.80	+0.598%	$26.0M	$108.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.30	+0.441%	$12.9M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	318.37	+0.463%	$106.5M	$133.7M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	317.88	+0.308%	$18.2M	$29.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.00	+0.662%	$35.6M	$49.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	320.59	+1.164%	$40K	$292K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.74	−0.052%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.71	−0.061%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.64	+0.232%	$127K	$424K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.09	+0.058%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0125%	8h	319.45	+0.804%	$2K	$614K	5x	as long as short
ApeX Omni TAOUSDT	+0.0149%	1h	320.42	+1.110%	$48K	$269K	50x	as long as short
Bullet TAO-USD	+0.0163%	1h	317.17	+0.084%	$12K	$18K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0089%	1h	316.80	−0.033%	$460K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.30	+0.442%	$377K	$374K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.68	+0.876%	$85K	$545K	5x	as long as short
Aster TAOUSDT	+0.0209%	4h	317.28	+0.120%	$1.1M	$8.2M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0210%	4h	321.55	+1.468%	$533K	$958K	10x	as long as short
Paradex TAO-USD-PERP	+0.0233%	8h	318.61	+0.538%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0288%	1h	317.40	+0.157%	$94K	$637K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.00	+0.030%	$4.5M	$10.8M	100x	as long as short
Bybit TAOUSDT	+0.0364%	4h	318.75	+0.583%	$65.5M	$131.8M	50x	as long as short
Variational Omni TAOshort	+0.0378%	4h	321.33	+1.395%	$5.6M	$8.6M	—
BingX TAO-USDT	+0.0478%	4h	318.66	+0.554%	—	$30.5M	—	as long as short
Kraken Futures PF_TAOUSDlong	+0.0484%	1h	316.90	long leg	$5.7M	$20.3M	50x
Phoenix TAO	+0.0525%	1h	322.20	+1.671%	$337K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	319.59	+0.848%	$23K	$653	12x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	317.07	+0.053%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	317.34	+0.136%	$365	—	20x	as long as short
Nado TAO-PERP	+0.0811%	1h	317.53	+0.197%	$885K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0862%	1h	317.24	+0.106%	$321K	$819K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.03	+0.040%	$1.5M	$6.1M	50x	as long as short
Extended TAO-USD	+0.1088%	1h	318.81	+0.602%	$929K	$2.2M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	319.54	+0.832%	$423K	$595K	5x	as long as short
Lighter TAO	+0.1536%	1h	318.47	+0.494%	$1.7M	$5.9M	5x	as long as short
Hyperliquid TAO	+0.2467%	1h	318.46	+0.491%	$102.9M	$90.5M	5x	as long as short