Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h −0.001%

Price spread now: Katana Perps against Polymarket Perps−0.051%7-day average +0.019% · you buy dearer than you sell

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

Long on Polymarket Perps Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.141%+$14 on $10k

Price spread, last 4 days (all we have)−1.247%−$125 · spread now −0.051%, 7d avg +0.019%

Together, before fees−1.106%−$111 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: Katana Perps is 0.069% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TAO-USD	316.68	0.0100	pay 0.0013% / 1h	38m 28s	$88K	$1.2M	5x
Short	Katana Perps TAO-USD	316.52	0.0107	get 0.0107% / 8h	38m 28s	$1K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.051%Rate

Funding earned: $1.43
Price spread: −0.051% → +0.019%: −$6.92
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$17.29
Costs to cover: 0.118%
Break-even: 91.9 days

Slippage unknown: Polymarket Perps: live order book, 5 min ago; Katana Perps: 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 Polymarket Perps live order book, 5 min ago	1.73 bp	6.0 bp −$6	6.4 bp −$64	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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	316.92	+0.075%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0043%	1h	316.84	+0.051%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.69	+0.003%	$44K	$710K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.70	+0.006%	$26.3M	$130.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.70	+0.006%	$14.4M	$51.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.07	+0.123%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.54	−0.044%	$35.6M	$58.0M	50x	as long as short
Polymarket Perps TAO-USDlong	+0.0100%	1h	316.68	long leg	$88K	$1.2M	5x
SunX TAO-USDT	+0.0100%	4h	317.26	+0.183%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.33	−0.111%	$115K	$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-USDshort	+0.0107%	8h	316.52	−0.051%	$1K	$1.1M	5x
GMX TAO/USD [WBTC.b-USDC]	L +0.0108% / S +0.0135%	1h	317.01	+0.104%	$405K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	317.48	+0.254%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0149%	4h	317.19	+0.161%	$52K	$294K	10x	as long as short
MEXC TAO_USDT	+0.0178%	4h	317.06	+0.120%	$99.8M	$151.4M	300x	as long as short
Binance TAOUSDT	+0.0179%	4h	316.67	−0.003%	$91.9M	$530.0M	75x	as long as short
edgeX TAOUSDC	+0.0184%	4h	318.91	+0.705%	$42K	$319K	10x	as long as short
ApeX Omni TAOUSDT	+0.0187%	1h	318.97	+0.723%	$46K	$260K	50x	as long as short
Paradex TAO-USD-PERP	+0.0243%	8h	317.17	+0.155%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0277%	4h	316.69	+0.003%	$69.3M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0298%	4h	316.68	0.000%	—	$37.0M	—	as long as short
Bullet TAO-USD	+0.0310%	1h	317.57	+0.281%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	317.17	+0.155%	$372K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.805%	$170K	$0	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0319%	1h	317.27	+0.187%	$15K	$2.0M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0332%	4h	318.74	+0.650%	$543K	$918K	10x	as long as short
Aster TAOUSDT	+0.0332%	4h	316.78	+0.032%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0344%	1h	316.77	+0.029%	$903K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0419%	4h	317.29	+0.193%	$4.7M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.00	+0.101%	$102K	$381K	5x	as long as short
Phemex TAOUSDT	+0.0515%	4h	317.18	+0.158%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0515%	1h	316.64	−0.013%	$786K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0537%	4h	318.96	+0.721%	$5.6M	$10.2M	—	as long as short
Lighter TAO	+0.0576%	1h	317.31	+0.198%	$1.6M	$6.9M	5x	as long as short
Phoenix TAO	+0.0629%	1h	319.50	+0.890%	$318K	$703K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.71	+0.011%	$364	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0716%	1h	317.19	+0.161%	$292K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0720%	1h	316.79	+0.035%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0756%	1h	317.33	+0.205%	$93.8M	$110.1M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	316.60	−0.024%	$447K	$668K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0835%	1h	317.37	+0.217%	$5.9M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.03	+0.742%	$1.5M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+1.977%	$23K	$2K	12x	as long as short