Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bitget against Orderly+0.077%7-day average −0.045% · you sell dearer than you buy

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

Long on Orderly Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 3 days (all we have)−0.122%−$12 · spread now +0.077%, 7d avg −0.045%

Together, before fees+0.009%+$1 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: Bitget is 0.122% dearer against Orderly than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	312.53	0.0100	pay 0.0050% / 4h	2h 29m	$57K	$282K	10x
Short	Bitget TAOUSDT	312.77	0.0100	get 0.0050% / 4h	2h 29m	$34.9M	$53.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.077%Rate

Funding earned: $0
Price spread: +0.077% → −0.045%: $12.22
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$5.78
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago	1.13 bp	12.0 bp −$12	23.9 bp −$239	50.1 bp −$5,007	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 42 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	312.02	−0.165%	$125K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.32	−0.067%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.70	+0.054%	$38K	$623K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.86	+0.107%	$89.8M	$463.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	+0.182%	$25.6M	$111.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.60	+0.022%	$12.7M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.61	+0.026%	$107.5M	$138.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.52	−0.003%	$18.0M	$30.1M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	312.77	+0.077%	$34.9M	$53.3M	50x
edgeX TAOUSDC	+0.0100%	4h	308.62	−1.252%	$34K	$299K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	310.29	−0.718%	$511K	$966K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	308.66	−1.238%	$46K	$269K	50x	as long as short
Orderly PERP_TAO_USDClong	+0.0100%	4h	312.53	long leg	$57K	$282K	10x
SunX TAO-USDT	+0.0100%	4h	312.50	−0.010%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.47	−0.019%	$128K	$471K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.90	+0.118%	$3.4M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.48	−0.015%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0122%	8h	312.56	+0.010%	$1K	$692K	5x	as long as short
Polymarket Perps TAO-USD	+0.0158%	1h	312.89	+0.115%	$82K	$678K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0169%	1h	313.10	+0.181%	$5.6M	$20.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0090%	1h	312.34	−0.062%	$437K	—	100x	as long as short
Aster TAOUSDT	+0.0213%	4h	312.78	+0.080%	$1.3M	$9.4M	50x	as long as short
Bullet TAO-USD	+0.0222%	1h	312.73	+0.064%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0285%	1h	312.67	+0.046%	$369K	$381K	10x	as long as short
Paradex TAO-USD-PERP	+0.0310%	8h	312.39	−0.044%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	312.86	+0.106%	$98K	$534K	5x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	312.28	−0.080%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0534%	1h	312.81	+0.091%	$776K	$2.1M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0553%	1h	313.11	+0.184%	$24K	$1.5M	25x	as long as short
Phoenix TAO	+0.0588%	1h	309.20	−1.065%	$323K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	312.95	+0.134%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	312.85	+0.102%	$360	—	20x	as long as short
BingX TAO-USDT	+0.0708%	4h	312.91	+0.122%	—	$31.0M	—	as long as short
Variational Omni TAO	+0.0774%	4h	311.95	−0.187%	$5.4M	$8.8M	—	as long as short
Bybit TAOUSDT	+0.0796%	4h	313.19	+0.211%	$65.2M	$137.1M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0882%	1h	313.15	+0.198%	$316K	$814K	10x	as long as short
Extended TAO-USD	+0.0920%	1h	312.38	−0.048%	$898K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	313.88	+0.432%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	312.63	+0.032%	$447K	$631K	5x	as long as short
Hyperliquid TAO	+0.1210%	1h	313.29	+0.243%	$99.0M	$94.6M	5x	as long as short
Lighter TAO	+0.1416%	1h	313.32	+0.253%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.4286%	1h	309.11	−1.095%	$164K	$40K	10x	as long as short