Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0551%/8h= −60.4% APRpaid last 24h −0.005%

Price spread now: Bullet against Variational Omni+0.541%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bullet is 0.541% dearer against Variational Omni than usual: you sell high and buy low (spread +0.541% now, against zero (this spread has no 7-day history yet)): +$54 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TAO	314.33	0.0651	pay 0.0326% / 4h	47m 20s	$5.8M	$9.8M	—
Short	Bullet TAO-USD	316.03	0.0100	get 0.0013% / 1h	47m 20s	$12K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Variational Omni. 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 Variational OmnibpFee BulletbpOrdersPrice spread, now +0.541%Rate

Funding earned: −$115.77
Price spread: +0.541% → 0.000%: $54.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$69.69
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bullet: 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 Variational Omni RFQ quote, 2 min ago	2.86 bp	doesn't fit	19.3 bp −$193	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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	−0.0499%	1h	315.15	+0.261%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.21	+0.281%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.81	+0.472%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.40	+0.023%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.10	+0.563%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.92	+0.506%	$91.1M	$489.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.80	+0.468%	$26.0M	$119.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.70	+0.436%	$12.9M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.10	+0.563%	$105.5M	$142.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.03	+0.541%	$17.6M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.66	+0.423%	$35.3M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.23	−0.031%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.21	−0.038%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.09	+0.560%	$89K	$790K	5x	as long as short
Bullet TAO-USDshort	+0.0100%	1h	316.03	+0.541%	$12K	$18K	20x
SunX TAO-USDT	+0.0100%	4h	314.33	0.000%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.48	+0.048%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.36	+0.010%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.69	+0.434%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	315.75	+0.452%	$2K	$784K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	+0.160%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	315.60	+0.404%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.75	+0.453%	$428K	—	100x	as long as short
Bybit TAOUSDT	+0.0159%	4h	316.00	+0.531%	$68.8M	$146.3M	50x	as long as short
01 Exchange TAOUSD	+0.0192%	1h	316.46	+0.678%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0196%	8h	315.71	+0.440%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0196%	4h	315.89	+0.496%	—	$30.1M	—	as long as short
Nado TAO-PERP	+0.0197%	1h	316.00	+0.532%	$808K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0214%	4h	316.10	+0.563%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0236%	1h	316.33	+0.636%	$94.4M	$104.8M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0290%	1h	314.95	+0.197%	$315K	$910K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0340%	1h	314.54	+0.068%	$12K	$1.6M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.22	−0.035%	$4.5M	$10.8M	100x	as long as short
Extended TAO-USD	+0.0344%	1h	316.29	+0.625%	$922K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0345%	1h	316.47	+0.681%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.68	+0.429%	$362K	$409K	10x	as long as short
Lighter TAO	+0.0392%	1h	315.74	+0.450%	$1.5M	$6.4M	5x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	+0.054%	$313K	$697K	5x	as long as short
Variational Omni TAOlong	+0.0651%	4h	314.33	long leg	$5.8M	$9.8M	—
Reya TAORUSDPERP	+0.0696%	1h	316.16	+0.582%	$364	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	316.39	+0.656%	$437K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.77	+0.458%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.680%	$23K	$2K	12x	as long as short