Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0113%/8h= +12.3% APRpaid last 24h +0.011%

Price spread now: Pacifica against Orderly+0.791%7-day average +0.001% · you sell dearer than you buy

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

Long on Orderly Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.871%−$87 · spread now +0.791%, 7d avg +0.001%

Together, before fees−0.737%+ Points / potential airdropPacifica: Active · farm board−$74 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Pacifica is 0.790% dearer against Orderly than usual: you sell high and buy low: +$79 more if the spread goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	316.72	0.0121	pay 0.0060% / 4h	2h 21m	$52K	$290K	10x
Short	Pacifica TAO	319.23	0.0233	get 0.0029% / 1h	21m 39s	$363K	$419K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.791%Rate

Funding earned: $23.66
Price spread: +0.791% → +0.001%: $78.99
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $88.65
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Pacifica: live order book, 27 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 Pacifica live order book, 27 min ago	2.55 bp	doesn't fit	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	−0.0038%	1h	313.74	−0.941%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.32	−0.126%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0040%	1h	318.63	+0.604%	$127K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.23	+0.792%	$91.7M	$510.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.00	+0.720%	$26.7M	$124.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.70	+0.625%	$14.1M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.11	+0.755%	$100.9M	$147.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.06	+0.739%	$17.6M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.63	+0.603%	$35.9M	$57.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.26	−1.093%	$41K	$314K	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	316.63	−0.028%	$90K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.37	−0.111%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.32	−0.126%	$114K	$555K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.00	+0.088%	$3.2M	$8.0M	50x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	319.02	+0.726%	$2K	$936K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.62	−0.031%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDClong	+0.0121%	4h	316.72	long leg	$52K	$290K	10x
GMX TAO/USD [WBTC.b-USDC]	L +0.0128% / S +0.0141%	1h	316.23	−0.154%	$423K	—	100x	as long as short
Popdex TAOUSDT	+0.0128%	1h	316.72	0.000%	$53K	$669K	20x	as long as short
Pacifica TAOshort	+0.0233%	1h	319.23	+0.791%	$363K	$419K	10x
Aster TAOUSDT	+0.0237%	4h	318.83	+0.666%	$1.3M	$10.6M	50x	as long as short
Nado TAO-PERP	+0.0260%	1h	316.69	−0.010%	$781K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0273%	8h	319.36	+0.833%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0300%	1h	317.13	+0.129%	$5.9M	$21.4M	50x	as long as short
Bullet TAO-USD	+0.0327%	1h	316.67	−0.016%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.98	−0.234%	$4.6M	$11.0M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0346%	4h	313.80	−0.921%	$533K	$923K	10x	as long as short
ApeX Omni TAOUSDT	+0.0359%	1h	313.36	−1.061%	$44K	$256K	50x	as long as short
BingX TAO-USDT	+0.0402%	4h	318.83	+0.666%	—	$33.7M	—	as long as short
Bybit TAOUSDT	+0.0409%	4h	319.17	+0.774%	$69.6M	$152.8M	50x	as long as short
Variational Omni TAO	+0.0439%	4h	313.02	−1.169%	$5.5M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	319.10	+0.751%	$103K	$345K	5x	as long as short
Extended TAO-USD	+0.0496%	1h	318.73	+0.634%	$907K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	313.30	−1.080%	$312K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0652%	1h	316.83	+0.036%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	316.57	−0.047%	$364	—	20x	as long as short
Lighter TAO	+0.0752%	1h	319.15	+0.767%	$1.5M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	317.21	+0.155%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0818%	1h	319.07	+0.742%	$93.5M	$108.9M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0831%	1h	318.96	+0.707%	$317K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	317.70	+0.309%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	318.93	+0.699%	$461K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+0.871%	$23K	$2K	12x	as long as short