Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Orderly+0.163%7-day average +0.030% · you sell dearer than you buy

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$14 on $10k

Price spread, last 3 days (all we have)−0.158%−$16 · spread now +0.163%, 7d avg +0.030%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.133% dearer against Orderly than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	315.72	0.0100	pay 0.0050% / 4h	1m 32s	$61K	$276K	10x
Short	Aevo TAO-PERP	316.23	0.0104	get 0.0013% / 1h	1m 32s	$174K	$998	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now +0.163%Rate

Funding earned: $0.84
Price spread: +0.163% → +0.030%: $13.3
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$7.86
Costs to cover: 0.220%
Break-even: 72.5 days

Slippage unknown: Orderly: no order-book sample; Aevo: live order book, 12 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo live order book, 12 min ago	34.18 bp	50.6 bp −$51	doesn't fit	doesn't fit	doesn't fit

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	−0.2086%	1h	311.96	−1.191%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.26	−0.147%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.55	−0.053%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	315.12	−0.190%	$23K	$374	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.07	+0.111%	$39K	$569K	20x	as long as short
Pacifica TAO	+0.0100%	1h	315.63	−0.027%	$373K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.04	+0.102%	$89.7M	$431.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	316.42	+0.222%	$65.1M	$128.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.20	+0.152%	$25.4M	$103.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.40	−0.101%	$12.6M	$50.7M	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	316.26	+0.171%	$112.3M	$132.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.50	−0.070%	$18.8M	$28.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.85	+0.041%	$35.3M	$47.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.66	−0.019%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.07	+0.111%	$41K	$282K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.90	−0.894%	$524K	$952K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.22	+0.158%	$47K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	316.50	+0.247%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDClong	+0.0100%	4h	315.72	long leg	$61K	$276K	10x
SunX TAO-USDT	+0.0100%	4h	315.61	−0.035%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.47	−0.079%	$129K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.87	+0.048%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERPshort	+0.0104%	1h	316.23	+0.163%	$174K	$998	3x
Katana Perps TAO-USD	+0.0112%	8h	315.60	−0.038%	$1K	$577K	5x	as long as short
Polymarket Perps TAO-USD	+0.0115%	1h	316.31	+0.187%	$77K	$450K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	315.57	−0.049%	$450K	—	100x	as long as short
Aster TAOUSDT	+0.0178%	4h	315.80	+0.024%	$1.1M	$7.9M	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	315.88	+0.051%	$83K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0197%	8h	315.38	−0.107%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0220%	4h	312.31	−1.079%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.59	−0.041%	$4.4M	$10.6M	100x	as long as short
Nado TAO-PERP	+0.0430%	1h	316.11	+0.123%	$858K	$2.0M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0443%	1h	315.89	+0.055%	$25K	$1.5M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0444%	1h	316.13	+0.131%	$5.8M	$19.9M	50x	as long as short
Phoenix TAO	+0.0537%	1h	316.20	+0.152%	$331K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0546%	1h	315.95	+0.073%	$314K	$813K	10x	as long as short
01 Exchange TAOUSD	+0.0592%	1h	316.21	+0.155%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	316.09	+0.118%	$364	—	20x	as long as short
Extended TAO-USD	+0.0888%	1h	315.55	−0.054%	$926K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	317.76	+0.646%	$1.5M	$5.9M	50x	as long as short
Lighter TAO	+0.1184%	1h	315.92	+0.064%	$1.7M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	315.63	−0.029%	$418K	$584K	5x	as long as short
Hyperliquid TAO	+0.1586%	1h	316.64	+0.291%	$99.2M	$84.9M	5x	as long as short