Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.3593%/8h= +393.5% APRpaid last 24h +0.641%

Price spread now: Injective against Orderly+1.335%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.537%+$354 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$108 a day on $10k at the current rate, and Injective is 1.335% dearer against Orderly than usual: you sell high and buy low: +$134 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	311.57	0.0118	pay 0.0059% / 4h	2h 55m	$51K	$290K	10x
Short	Injective TAO/USDC PERP	315.73	0.3711	get 0.0464% / 1h	55m 10s	$23K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.335%Rate

Funding earned: $754.63
Price spread: +1.335% → 0.000%: $133.52
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $882.13
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Injective: 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 Injective no order-book sample	—	—	—	—	—

Orderly and Injective: 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
dYdX TAO-USD	0.0000%	1h	311.52	−0.016%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.22	−0.112%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	311.37	−0.064%	$761	$869K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.88	+0.099%	$89.1M	$504.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.80	+0.074%	$26.1M	$121.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.30	−0.087%	$13.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.74	+0.055%	$103.8M	$144.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.60	+0.010%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.53	−0.013%	$35.1M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.84	+0.407%	$41K	$313K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	311.25	−0.103%	$81K	$907K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.48	−0.029%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.32	−0.401%	$110K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.71	+0.043%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDClong	+0.0118%	4h	311.57	long leg	$51K	$290K	10x
GMX TAO/USD [WBTC.b-USDC]	L +0.0133% / S +0.0136%	1h	311.22	−0.111%	$417K	—	100x	as long as short
Aster TAOUSDT	+0.0133%	4h	311.89	+0.104%	$1.3M	$10.5M	50x	as long as short
Popdex TAOUSDT	+0.0176%	1h	311.50	−0.022%	$48K	$662K	20x	as long as short
Paradex TAO-USD-PERP	+0.0201%	8h	311.64	+0.022%	$14K	$1K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0204%	4h	313.11	+0.493%	$532K	$942K	10x	as long as short
Pacifica TAO	+0.0233%	1h	311.85	+0.091%	$355K	$419K	10x	as long as short
Bulk TAO-USD	+0.0253%	1h	311.89	+0.103%	$166K	$333	10x	as long as short
Bullet TAO-USD	+0.0304%	1h	311.54	−0.010%	$12K	$17K	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0306%	1h	311.65	+0.024%	$5.5M	$20.7M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.87	+0.096%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0348%	4h	311.76	+0.061%	—	$33.7M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0351%	1h	311.53	−0.012%	$11K	$1.8M	25x	as long as short
Bybit TAOUSDT	+0.0353%	4h	312.01	+0.141%	$67.5M	$151.1M	50x	as long as short
Extended TAO-USD	+0.0360%	1h	311.62	+0.015%	$904K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0371%	4h	312.91	+0.430%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0398%	1h	311.45	−0.039%	$775K	$2.2M	10x	as long as short
Phoenix TAO	+0.0457%	1h	312.80	+0.395%	$311K	$713K	5x	as long as short
Arcus TAO-USD	+0.0483%	1h	311.90	+0.106%	$100K	$370K	5x	as long as short
Phemex TAOUSDT	+0.0595%	4h	311.65	+0.026%	$3.1M	$8.0M	50x	as long as short
Hyperliquid TAO	+0.0658%	1h	311.93	+0.116%	$91.3M	$108.4M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.53	−0.014%	$358	—	20x	as long as short
Lighter TAO	+0.0760%	1h	311.92	+0.111%	$1.5M	$6.5M	5x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	311.56	−0.003%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0835%	1h	311.82	+0.080%	$310K	$885K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	312.88	+0.420%	$1.5M	$6.7M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	311.52	−0.016%	$445K	$650K	5x	as long as short
ApeX Omni TAOUSDT	+0.1940%	1h	312.51	+0.302%	$46K	$254K	50x	as long as short
Injective TAO/USDC PERPshort	+0.3711%	1h	315.73	+1.335%	$23K	$2K	12x