Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0587%/8h= +64.2% APRpaid last 24h +0.100%

Price spread now: 01 Exchange against Orderly−0.079%46s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. 01 Exchange is 0.079% cheaper against Orderly than usual: you would sell low and buy high (spread −0.079% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 11 hours of funding at the current rate (+$18 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	317.48	0.0149	pay 0.0075% / 4h	39m 41s	$52K	$294K	10x
Short	01 Exchange TAOUSD	317.23	0.0736	get 0.0092% / 1h	39m 41s	$3K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.079%Rate

Funding earned: $123.18
Price spread: −0.079% → 0.000%: −$7.87
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $102.31
Costs to cover: 0.130%
Break-even: 1.2 days

Slippage unknown: Orderly: no order-book sample; 01 Exchange: 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 01 Exchange no order-book sample	—	—	—	—	—

Orderly and 01 Exchange: 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	317.22	−0.082%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0045%	1h	317.12	−0.113%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.10	−0.120%	$44K	$709K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.10	−0.120%	$26.4M	$130.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.90	−0.183%	$14.4M	$51.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.14	−0.107%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.77	−0.224%	$35.7M	$57.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.04	−0.139%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.16	−0.101%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.95	−0.167%	$116K	$604K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0107%	8h	317.14	−0.107%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0108% / S +0.0133%	1h	317.16	−0.101%	$408K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	317.50	+0.006%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDClong	+0.0149%	4h	317.48	long leg	$52K	$294K	10x
Binance TAOUSDT	+0.0179%	4h	317.09	−0.123%	$92.0M	$529.9M	75x	as long as short
MEXC TAO_USDT	+0.0184%	4h	317.11	−0.117%	$99.8M	$151.3M	300x	as long as short
edgeX TAOUSDC	+0.0184%	4h	318.91	+0.452%	$42K	$319K	10x	as long as short
ApeX Omni TAOUSDT	+0.0187%	1h	318.97	+0.469%	$46K	$260K	50x	as long as short
Paradex TAO-USD-PERP	+0.0245%	8h	317.17	−0.098%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0280%	4h	317.16	−0.101%	$69.4M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0298%	4h	317.06	−0.132%	—	$37.0M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0306%	1h	317.41	−0.021%	$15K	$2.0M	25x	as long as short
Pacifica TAO	+0.0313%	1h	317.32	−0.051%	$372K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.551%	$170K	$0	10x	as long as short
Bullet TAO-USD	+0.0324%	1h	317.30	−0.057%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0332%	4h	318.74	+0.396%	$543K	$918K	10x	as long as short
Aster TAOUSDT	+0.0335%	4h	317.16	−0.101%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0352%	1h	316.93	−0.174%	$903K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0424%	4h	318.98	+0.472%	$4.7M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.42	−0.019%	$102K	$381K	5x	as long as short
Nado TAO-PERP	+0.0530%	1h	317.13	−0.111%	$786K	$2.0M	10x	as long as short
Phemex TAOUSDT	+0.0537%	4h	317.20	−0.088%	$3.2M	$8.2M	50x	as long as short
Variational Omni TAO	+0.0537%	4h	318.96	+0.467%	$5.6M	$10.2M	—	as long as short
Lighter TAO	+0.0584%	1h	317.46	−0.005%	$1.6M	$6.9M	5x	as long as short
Phoenix TAO	+0.0629%	1h	319.50	+0.636%	$318K	$703K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.24	−0.075%	$365	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0731%	1h	317.33	−0.047%	$292K	$906K	10x	as long as short
01 Exchange TAOUSDshort	+0.0736%	1h	317.23	−0.079%	$3K	$4K	5x
Hyperliquid TAO	+0.0766%	1h	317.68	+0.063%	$94.0M	$110.0M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.06	−0.132%	$447K	$668K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0835%	1h	317.39	−0.029%	$5.9M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.03	+0.488%	$1.5M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+1.720%	$23K	$2K	12x	as long as short