Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h +0.003%

Price spread now: Polymarket Perps against Orderly−0.022%7-day average −0.021% · you buy dearer than you sell

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

Long on Orderly Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.118%−$12 · spread now −0.022%, 7d avg −0.021%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	323.39	0.0108	pay 0.0054% / 4h	1h 35m	$59K	$281K	10x
Short	Polymarket Perps TAO-USD	323.32	0.0100	get 0.0013% / 1h	35m 18s	$88K	$789K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$1.71
Price spread: −0.022% → −0.021%: −$0.04
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$15.75
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 28 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 Polymarket Perps live order book, 28 min ago	1.42 bp	5.4 bp −$5	10.1 bp −$101	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	−0.5583%	1h	316.49	−2.134%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	321.74	−0.512%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.21	−0.055%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.77	−0.192%	$38K	$659K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	323.46	+0.022%	$94.3M	$475.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.30	−0.028%	$26.5M	$118.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.10	−0.090%	$13.2M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	323.30	−0.028%	$109.9M	$140.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.26	−0.040%	$18.2M	$30.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.21	−0.056%	$36.1M	$54.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	320.56	−0.874%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USDshort	+0.0100%	1h	323.32	−0.022%	$88K	$789K	5x
SunX TAO-USDT	+0.0100%	4h	323.81	+0.130%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.67	−0.841%	$130K	$479K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.44	−0.912%	$3.5M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	323.46	+0.020%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDClong	+0.0108%	4h	323.39	long leg	$59K	$281K	10x
Katana Perps TAO-USD	+0.0117%	8h	322.83	−0.173%	$1K	$765K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0162% / S +0.0107%	1h	323.05	−0.105%	$439K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0245%	1h	320.47	−0.904%	$5.6M	$20.5M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0248%	4h	320.95	−0.755%	$534K	$963K	10x	as long as short
Bullet TAO-USD	+0.0306%	1h	323.34	−0.015%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0317%	8h	323.33	−0.019%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	321.38	−0.622%	$4.5M	$10.7M	100x	as long as short
Aster TAOUSDT	+0.0341%	4h	323.28	−0.034%	$1.2M	$9.5M	50x	as long as short
Pacifica TAO	+0.0448%	1h	322.11	−0.395%	$380K	$396K	10x	as long as short
Phoenix TAO	+0.0504%	1h	320.50	−0.894%	$335K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	323.00	−0.121%	$101K	$490K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0523%	1h	323.31	−0.026%	$33K	$1.6M	25x	as long as short
Nado TAO-PERP	+0.0529%	1h	323.58	+0.060%	$789K	$2.2M	10x	as long as short
Bybit TAOUSDT	+0.0584%	4h	323.53	+0.043%	$70.8M	$141.9M	50x	as long as short
BingX TAO-USDT	+0.0608%	4h	323.44	+0.015%	—	$30.4M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	323.33	−0.019%	$372	—	20x	as long as short
ApeX Omni TAOUSDT	+0.0733%	1h	320.61	−0.860%	$47K	$253K	50x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	323.11	−0.087%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0866%	4h	320.39	−0.927%	$5.9M	$9.7M	—	as long as short
Lighter TAO	+0.0896%	1h	322.30	−0.337%	$1.6M	$6.3M	5x	as long as short
Extended TAO-USD	+0.0904%	1h	322.89	−0.154%	$945K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.1023%	1h	320.15	−1.002%	$440K	$860K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	321.63	−0.544%	$1.5M	$6.6M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	322.83	−0.172%	$458K	$628K	5x	as long as short
Hyperliquid TAO	+0.1342%	1h	323.71	+0.100%	$101.7M	$98.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	323.37	−0.006%	$24K	$2K	12x	as long as short