Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.001%

Price spread now: OKX against Orderly−0.041%7-day average −0.030% · you buy dearer than you sell

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

Long on Orderly Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.041%, 7d avg −0.030%

Together, before fees+0.077%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.057%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	319.03	0.0116	pay 0.0058% / 4h	2h 12m	$53K	$291K	10x
Short	OKX TAO-USDT-SWAP	318.90	0.0100	get 0.0100% / 8h	2h 12m	$26.7M	$125.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$3.44
Price spread: −0.041% → −0.030%: −$1.03
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$20.47
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	1.57 bp	9.2 bp −$9	16.6 bp −$166	68.2 bp −$6,822	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	−0.1195%	1h	319.01	−0.005%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.72	−0.097%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0032%	1h	318.55	−0.152%	$127K	$85K	5x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	318.90	−0.041%	$26.7M	$125.4M	50x
Gate TAO_USDT	+0.0100%	4h	318.80	−0.072%	$14.2M	$51.6M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.00	−0.009%	$17.6M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.81	−0.069%	$35.9M	$57.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.35	−0.215%	$42K	$317K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.92	−0.034%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.01	−0.006%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	318.94	−0.028%	$116K	$565K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.89	−0.044%	$3.2M	$8.1M	50x	as long as short
MEXC TAO_USDT	+0.0104%	4h	319.18	+0.047%	$101.4M	$148.1M	300x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.38	+0.111%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	318.91	−0.038%	$1K	$946K	5x	as long as short
Binance TAOUSDT	+0.0110%	4h	319.15	+0.038%	$91.5M	$513.1M	75x	as long as short
Orderly PERP_TAO_USDClong	+0.0116%	4h	319.03	long leg	$53K	$291K	10x
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0144%	1h	318.78	−0.079%	$423K	—	100x	as long as short
Popdex TAOUSDT	+0.0128%	1h	319.02	−0.003%	$54K	$671K	20x	as long as short
Pacifica TAO	+0.0233%	1h	318.99	−0.013%	$364K	$420K	10x	as long as short
Aster TAOUSDT	+0.0271%	4h	318.99	−0.013%	$1.3M	$10.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0278%	8h	319.13	+0.031%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0290%	1h	319.16	+0.042%	$802K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0298%	1h	319.35	+0.100%	$6.0M	$21.6M	50x	as long as short
Bullet TAO-USD	+0.0322%	1h	319.11	+0.026%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0344%	4h	319.43	+0.125%	$3.7M	$11.0M	100x	as long as short
Bybit TAOUSDT	+0.0391%	4h	319.18	+0.047%	$69.9M	$153.7M	50x	as long as short
BingX TAO-USDT	+0.0398%	4h	319.11	+0.025%	—	$33.8M	—	as long as short
GRVT TAO_USDT_Perp	+0.0436%	4h	318.55	−0.150%	$545K	$935K	10x	as long as short
Variational Omni TAO	+0.0467%	4h	317.98	−0.328%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	319.52	+0.154%	$103K	$351K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0500%	1h	319.26	+0.074%	$15K	$1.8M	25x	as long as short
ApeX Omni TAOUSDT	+0.0504%	1h	318.01	−0.320%	$45K	$256K	50x	as long as short
Extended TAO-USD	+0.0504%	1h	318.95	−0.024%	$906K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	318.90	−0.041%	$317K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	319.08	+0.016%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	319.51	+0.150%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0806%	1h	319.31	+0.088%	$93.7M	$109.5M	5x	as long as short
Lighter TAO	+0.0816%	1h	319.31	+0.089%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0839%	1h	319.20	+0.053%	$316K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	319.97	+0.295%	$1.5M	$7.0M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	319.05	+0.006%	$461K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+1.226%	$23K	$2K	12x	as long as short