Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0111%/8h= −12.2% APRpaid last 24h −0.011%

Price spread now: Orderly against Pacifica−0.111%7-day average −0.001% · you buy dearer than you sell

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

Long on Pacifica Short on Orderly

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)+0.191%+$19 · spread now −0.111%, 7d avg −0.001%

Together, before fees+0.057%+ Points / potential airdropPacifica: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.110% cheaper against Pacifica than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	314.76	0.0233	pay 0.0029% / 1h	23m 50s	$358K	$419K	10x
Short	Orderly PERP_TAO_USDC	314.41	0.0122	get 0.0061% / 4h	2h 23m	$52K	$290K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Pacifica. 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 PacificabpFee OrderlybpOrdersPrice spread, now −0.111%Rate

Funding earned: −$23.33
Price spread: −0.111% → −0.001%: −$10.97
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$48.3
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 25 min ago; Orderly: 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 Pacifica live order book, 25 min ago	2.55 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.31	−0.141%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0044%	1h	314.36	−0.127%	$125K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.80	+0.013%	$90.4M	$508.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.20	+0.140%	$26.4M	$122.9M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	313.47	−0.409%	$167K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.40	−0.114%	$14.0M	$51.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.85	+0.029%	$108.8M	$146.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.88	−0.279%	$17.3M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.98	+0.070%	$35.6M	$57.1M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.26	−0.477%	$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	314.78	+0.007%	$90K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.38	−0.120%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.65	−0.352%	$113K	$554K	20x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	314.72	−0.012%	$644	$928K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.42	−0.108%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDCshort	+0.0122%	4h	314.41	−0.111%	$52K	$290K	10x
GMX TAO/USD [WBTC.b-USDC]	L +0.0128% / S +0.0140%	1h	314.29	−0.149%	$421K	—	100x	as long as short
Popdex TAOUSDT	+0.0136%	1h	315.02	+0.083%	$52K	$669K	20x	as long as short
Phemex TAOUSDT	+0.0152%	4h	314.29	−0.149%	$3.2M	$8.0M	50x	as long as short
Aster TAOUSDT	+0.0211%	4h	314.82	+0.018%	$1.3M	$10.6M	50x	as long as short
Pacifica TAOlong	+0.0233%	1h	314.76	long leg	$358K	$419K	10x
Nado TAO-PERP	+0.0265%	1h	315.03	+0.085%	$777K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0272%	8h	315.06	+0.097%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0303%	1h	314.36	−0.128%	$5.9M	$21.4M	50x	as long as short
Bullet TAO-USD	+0.0327%	1h	314.78	+0.006%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.97	−0.251%	$4.6M	$10.9M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0348%	4h	314.02	−0.235%	$533K	$923K	10x	as long as short
ApeX Omni TAOUSDT	+0.0359%	1h	313.36	−0.444%	$44K	$256K	50x	as long as short
Bybit TAOUSDT	+0.0423%	4h	315.39	+0.201%	$68.6M	$152.5M	50x	as long as short
BingX TAO-USDT	+0.0430%	4h	314.72	−0.012%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0439%	4h	313.02	−0.553%	$5.5M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	315.13	+0.118%	$101K	$345K	5x	as long as short
Extended TAO-USD	+0.0488%	1h	314.64	−0.036%	$896K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	313.30	−0.463%	$312K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0580%	1h	314.43	−0.106%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.71	−0.017%	$362	—	20x	as long as short
Lighter TAO	+0.0760%	1h	314.49	−0.087%	$1.5M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0760%	1h	315.42	+0.210%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0806%	1h	315.40	+0.204%	$92.4M	$108.7M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0825%	1h	314.52	−0.076%	$312K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	315.59	+0.264%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	314.82	+0.021%	$456K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+1.500%	$23K	$2K	12x	as long as short