Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Orderly against KuCoin+0.019%7-day average +0.003% · you sell dearer than you buy

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

Long on KuCoin Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 3 days (all we have)+0.005%$0 · spread now +0.019%, 7d avg +0.003%

Together, before fees−0.089%−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TAOUSDTM	313.02	0.0100	pay 0.0050% / 4h	22m 04s	$18.5M	$27.8M	75x
Short	Orderly PERP_TAO_USDC	313.08	0.0100	get 0.0050% / 4h	22m 04s	$60K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against KuCoin. 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 KuCoinbpFee OrderlybpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → +0.003%: $1.62
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$16.38
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; Orderly: 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 KuCoin live order book, 2 min ago	4.02 bp	12.8 bp −$13	28.2 bp −$282	105.2 bp −$10.5K	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Bulk TAO-USD	−0.4493%	1h	315.57	+0.815%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.76	−0.083%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.89	−0.043%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+0.617%	$23K	$361	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.77	+0.240%	$37K	$571K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.02	0.000%	$370K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.16	+0.045%	$88.8M	$427.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.27	+0.080%	$61.6M	$125.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.00	−0.006%	$25.1M	$101.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.00	−0.006%	$12.5M	$50.1M	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	313.03	+0.003%	$110.5M	$131.0M	300x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	313.02	long leg	$18.5M	$27.8M	75x
Bitget TAOUSDT	+0.0100%	4h	312.87	−0.048%	$34.9M	$46.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.10	+0.026%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.02	−0.319%	$40K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.92	+0.287%	$521K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.97	−0.335%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.96	+0.300%	$77K	$466K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.17	+0.048%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	313.08	+0.019%	$60K	$275K	10x
SunX TAO-USDT	+0.0100%	4h	313.13	+0.035%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.58	+0.179%	$128K	$408K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.14	+0.038%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.27	+0.081%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	313.24	+0.070%	$3K	$555K	5x	as long as short
Aster TAOUSDT	+0.0177%	4h	313.00	−0.006%	$1.1M	$7.9M	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.41	+0.125%	$83K	$565K	5x	as long as short
Paradex TAO-USD-PERP	+0.0191%	8h	313.09	+0.023%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0199%	4h	312.46	−0.179%	$4.0M	$7.0M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0217%	1h	313.02	−0.001%	$21K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.12	−0.288%	$4.4M	$10.5M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	313.04	+0.007%	$5.7M	$19.9M	50x	as long as short
Nado TAO-PERP	+0.0453%	1h	313.46	+0.141%	$825K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	312.89	−0.041%	$449K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0524%	1h	313.39	+0.118%	$292K	$803K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.50	−0.166%	$327K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0600%	1h	313.67	+0.208%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.26	+0.077%	$360	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	312.92	−0.030%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.79	+0.246%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1224%	1h	313.55	+0.169%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.35	+0.105%	$436K	$567K	5x	as long as short
Hyperliquid TAO	+0.1676%	1h	313.62	+0.191%	$97.8M	$84.1M	5x	as long as short