Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h −0.034%

Price spread now: gTrade (Gains Network) against Orderly−0.076%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and gTrade (Gains Network) is 0.076% cheaper against Orderly than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	312.04	0.0280	pay 0.0140% / 4h	48m 51s	$52K	$262K	10x
Short	gTrade (Gains Network) TAO/USD	311.80	L +0.0004% / S −0.0003%	get 0.0000% / 1h	48m 51s	$19K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.076%Rate

Funding earned: −$58.11
Price spread: −0.076% → 0.000%: −$7.6
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$81.71
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): 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 Orderly no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and gTrade (Gains Network): 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 exchanges

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
gTrade (Gains Network) TAO/USDshort	L +0.0004% / S −0.0003%	1h	311.80	−0.076%	$19K	—	150x
Popdex TAOUSDT	+0.0096%	1h	313.11	+0.343%	$54K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.30	+0.404%	$26.7M	$125.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.90	+0.276%	$16.1M	$46.5M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.90	+0.276%	$17.2M	$31.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.93	+0.285%	$35.4M	$54.3M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.80	+0.244%	$68K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.11	+0.022%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.59	+0.176%	$114K	$550K	20x	as long as short
Katana Perps TAO-USD	+0.0102%	8h	312.82	+0.250%	$2K	$1.3M	5x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended TAO-USD	+0.0104%	1h	313.08	+0.334%	$922K	$2.1M	25x	as long as short
ApeX Omni TAOUSDT	+0.0105%	1h	312.02	−0.006%	$44K	$254K	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	312.63	+0.190%	$172K	$998	3x	as long as short
MEXC TAO_USDT	+0.0166%	4h	313.12	+0.346%	$111.6M	$147.0M	300x	as long as short
Binance TAOUSDT	+0.0167%	4h	313.19	+0.368%	$92.9M	$506.9M	75x	as long as short
edgeX TAOUSDC	+0.0172%	4h	311.93	−0.035%	$41K	$325K	10x	as long as short
Pacifica TAO	+0.0223%	1h	312.27	+0.074%	$379K	$455K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0272%	4h	312.02	−0.005%	$531K	$786K	10x	as long as short
Orderly PERP_TAO_USDClong	+0.0280%	4h	312.04	long leg	$52K	$262K	10x
Paradex TAO-USD-PERP	+0.0300%	8h	312.38	+0.109%	$14K	$769	10x	as long as short
Lighter TAO	+0.0312%	1h	312.69	+0.208%	$1.6M	$6.7M	5x	as long as short
Bullet TAO-USD	+0.0332%	1h	312.42	+0.123%	$12K	$16K	20x	as long as short
Aster TAOUSDT	+0.0349%	4h	313.17	+0.361%	$1.2M	$11.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0371% / S −0.0114%	1h	312.05	+0.002%	$377K	—	100x	as long as short
BingX TAO-USDT	+0.0372%	4h	313.17	+0.362%	—	$37.8M	—	as long as short
Bybit TAOUSDT	+0.0387%	4h	313.36	+0.423%	$69.3M	$154.5M	50x	as long as short
BloFin TAO-USDT	+0.0406%	4h	312.15	+0.035%	$4.9M	$10.5M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0454%	1h	312.17	+0.041%	$23K	$1.9M	25x	as long as short
Phemex TAOUSDT	+0.0485%	4h	312.73	+0.221%	$3.1M	$8.3M	50x	as long as short
dYdX TAO-USD	+0.0487%	1h	312.02	−0.008%	$263K	$230K	5x	as long as short
Nado TAO-PERP	+0.0521%	1h	312.38	+0.108%	$650K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0567%	1h	312.82	+0.250%	$93.5M	$105.3M	5x	as long as short
Arcus TAO-USD	+0.0587%	1h	312.84	+0.256%	$99K	$285K	5x	as long as short
Variational Omni TAO	+0.0603%	4h	312.01	−0.009%	$6.2M	$10.1M	—	as long as short
Phoenix TAO	+0.0636%	1h	312.80	+0.244%	$314K	$701K	5x	as long as short
RISEx TAO/USDC	+0.0694%	1h	312.73	+0.222%	$436K	$663K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	312.78	+0.238%	$360	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0728%	1h	313.12	+0.346%	$1.1M	$7.4M	50x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	313.17	+0.362%	$3K	$2K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0865%	1h	312.38	+0.109%	$6.2M	$19.6M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0883%	1h	312.80	+0.244%	$297K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.1436%	1h	313.89	+0.593%	$166K	$662	10x	as long as short
Injective TAO/USDC PERP	+0.4136%	1h	317.23	+1.663%	$23K	$2K	12x	as long as short