Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h −0.022%

Price spread now: GRVT against Polymarket Perps−0.233%63s7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.385% of the position

Long on Polymarket Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.568%+$57 · spread now −0.233%, 7d avg +0.006%

Together, before fees+0.647%+ Points / potential airdropGRVT: Active · farm board+$65 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.239% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.006%. The two prices were read 63 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	Polymarket Perps TAO-USD	315.32	0.0130	pay 0.0016% / 1h	24m 28s	$82K	$680K	5x
Short	GRVT TAO_USDT_Perp	314.59	0.0136	get 0.0068% / 4h	2h 24m	$518K	$966K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Polymarket Perps. 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 Polymarket PerpsbpFee GRVTbpOrdersPrice spread, now −0.233%Rate

Funding earned: $1.34
Price spread: −0.233% → +0.006%: −$23.9
Slippage, 4 orders: −$21.46
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$61.01
Costs to cover: 0.385%
Break-even: 324.8 days

Slippage from Polymarket Perps: live order book, 43 min ago; GRVT: live order book, 44 min ago.

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 Polymarket Perps live order book, 43 min ago	2.84 bp	6.8 bp −$7	7.3 bp −$73	doesn't fit	doesn't fit
Sell GRVT live order book, 44 min ago	1.42 bp	11.6 bp −$12	25.2 bp −$252	doesn't fit	doesn't fit

TAO on 42 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
dYdX TAO-USD	0.0000%	1h	315.19	−0.042%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.48	+0.051%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.33	+0.003%	$39K	$628K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.73	+0.129%	$90.5M	$465.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.80	+0.152%	$26.0M	$112.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.50	+0.057%	$12.9M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.87	+0.174%	$109.7M	$138.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.30	−0.006%	$18.1M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.53	+0.067%	$35.2M	$53.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.28	−0.329%	$35K	$298K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	313.06	−0.717%	$47K	$256K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.73	+0.130%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.45	+0.041%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.45	−0.276%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.84	−0.152%	$3.4M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.11	+0.252%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0120%	8h	315.40	+0.025%	$2K	$706K	5x	as long as short
Polymarket Perps TAO-USDlong	+0.0130%	1h	315.32	long leg	$82K	$680K	5x
GRVT TAO_USDT_Perpshort	+0.0136%	4h	314.59	−0.233%	$518K	$966K	10x
Kraken Futures PF_TAOUSD	+0.0168%	1h	314.95	−0.117%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0091%	1h	315.46	+0.043%	$441K	—	100x	as long as short
Bullet TAO-USD	+0.0231%	1h	315.89	+0.181%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0242%	4h	315.53	+0.065%	$1.3M	$9.4M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0284%	1h	315.10	−0.068%	$24K	$1.5M	25x	as long as short
Pacifica TAO	+0.0285%	1h	315.42	+0.032%	$371K	$381K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.68	+0.114%	$99K	$529K	5x	as long as short
Paradex TAO-USD-PERP	+0.0340%	8h	315.37	+0.017%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	312.28	−0.964%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0512%	1h	315.50	+0.056%	$786K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	312.30	−0.958%	$326K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	315.72	+0.127%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.38	+0.019%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0760%	4h	315.88	+0.178%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0820%	4h	316.00	+0.216%	$66.3M	$137.8M	50x	as long as short
Variational Omni TAO	+0.0822%	4h	315.55	+0.074%	$5.5M	$8.9M	—	as long as short
Extended TAO-USD	+0.0896%	1h	315.26	−0.019%	$903K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0911%	1h	314.61	−0.225%	$318K	$814K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.20	+0.279%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	315.41	+0.029%	$450K	$631K	5x	as long as short
Hyperliquid TAO	+0.1259%	1h	315.78	+0.146%	$100.1M	$94.7M	5x	as long as short
Lighter TAO	+0.1424%	1h	315.70	+0.121%	$1.6M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−2.022%	$164K	$40K	10x	as long as short