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: HTX against Orderly+0.055%7-day average −0.123% · you sell dearer than you buy

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

Long on Orderly Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 3 days (all we have)−0.155%−$16 · spread now +0.055%, 7d avg −0.123%

Together, before fees−0.083%−$8 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: HTX is 0.178% dearer against Orderly than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	308.41	0.0100	pay 0.0050% / 4h	2h 05m	$59K	$276K	10x
Short	HTX TAO-USDT	308.58	0.0100	get 0.0050% / 4h	2h 05m	$122K	$353K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.055%Rate

Funding earned: $0
Price spread: +0.055% → −0.123%: $17.82
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$0.18
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; HTX: live order book, 17 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 HTX live order book, 17 min ago	34.46 bp	43.9 bp −$44	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	−0.0601%	1h	309.73	+0.428%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	308.01	−0.130%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	308.36	−0.015%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0017%	1h	308.22	−0.060%	$11K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.20	−0.068%	$43K	$531K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.45	+0.015%	$364K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.11	−0.097%	$86.4M	$405.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.13	−0.091%	$59.9M	$119.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.20	−0.068%	$25.4M	$93.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.62	+0.068%	$138K	$584K	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	308.00	−0.133%	$12.3M	$48.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.27	−0.045%	$118.9M	$126.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.18	−0.075%	$18.9M	$26.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.83	−0.188%	$34.4M	$44.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.21	−0.065%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.99	−0.137%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.32	−0.028%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.18	+0.249%	$550K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.59	+0.383%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.14	−0.088%	$78K	$662K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.55	+0.045%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDClong	+0.0100%	4h	308.41	long leg	$59K	$276K	10x
SunX TAO-USDT	+0.0100%	4h	308.23	−0.058%	$1K	$1.8M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	308.58	+0.055%	$122K	$353K	20x
Phemex TAOUSDT	+0.0100%	4h	308.93	+0.169%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.44	+0.010%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	308.29	−0.039%	$2K	$461K	5x	as long as short
Aster TAOUSDT	+0.0156%	4h	308.17	−0.078%	$1.1M	$7.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0159%	8h	308.24	−0.055%	$14K	$1K	10x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	+0.126%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0304%	1h	308.13	−0.092%	$850K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	309.54	+0.366%	$4.3M	$9.5M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0485% / S −0.0184%	1h	308.32	−0.030%	$453K	—	100x	as long as short
01 Exchange TAOUSD	+0.0544%	1h	308.65	+0.078%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	308.04	−0.119%	$354	—	20x	as long as short
Extended TAO-USD	+0.0768%	1h	308.22	−0.063%	$907K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0901%	1h	308.63	+0.071%	$384K	$754K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	311.63	+1.044%	$1.5M	$5.5M	50x	as long as short
Lighter TAO	+0.0976%	1h	308.63	+0.071%	$1.7M	$4.8M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1022%	1h	308.54	+0.042%	$6.4M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	308.39	−0.008%	$412K	$542K	5x	as long as short
Hyperliquid TAO	+0.1853%	1h	308.94	+0.172%	$96.8M	$77.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	+0.104%	$22K	$271	12x	as long as short