Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0421%/8h= +46.1% APRpaid last 24h +0.081%

Price spread now: Phoenix against Variational Omni+0.061%7-day average +0.061% · you sell dearer than you buy

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

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.239%+$24 on $10k

Price spread, last 3 days (all we have)−0.127%−$13 · spread now +0.061%, 7d avg +0.061%

Together, before fees+0.112%+ Points / potential airdropVariational Omni: Active · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.061%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TAO	303.72	0.0100	pay 0.0050% / 4h	1h 42m	$3.6M	$6.6M	—
Short	Phoenix TAO	303.90	0.0521	get 0.0065% / 1h	42m 49s	$322K	$491K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.061%Rate

Funding earned: $88.34
Price spread: +0.061% → +0.061%: −$0.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $81.29
Costs to cover: 0.070%
Break-even: 0.6 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phoenix: live order book, 39 min ago. 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, 1 min ago	2.88 bp	doesn't fit	8.1 bp −$81	doesn't fit	doesn't fit
Sell Phoenix live order book, 39 min ago	3.24 bp	18.8 bp −$19	26.2 bp −$262	doesn't fit	doesn't fit

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	−0.0466%	1h	307.38	+1.206%	$202K	$17K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	303.67	−0.016%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.42	−0.097%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.96	+0.080%	$43K	$534K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.46	−0.084%	$84.9M	$410.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.52	−0.065%	$58.8M	$120.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.50	−0.071%	$24.4M	$94.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	304.19	+0.156%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.40	−0.104%	$12.1M	$48.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	303.53	−0.061%	$110.0M	$124.6M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	303.49	−0.074%	$18.4M	$26.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.25	−0.153%	$33.9M	$45.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.50	−0.071%	—	$30.3M	—	as long as short
Variational Omni TAOlong	+0.0100%	4h	303.72	long leg	$3.6M	$6.6M	—
edgeX TAOUSDC	+0.0100%	4h	303.61	−0.035%	$39K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.82	+0.034%	$502K	$967K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.97	+0.084%	$77K	$605K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.58	−0.045%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.52	−0.065%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.45	−0.088%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.23	+0.169%	$122K	$360K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.68	−0.012%	$3.2M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.73	+0.005%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	303.88	+0.054%	$623	$487K	5x	as long as short
Aster TAOUSDT	+0.0112%	4h	303.44	−0.091%	$1.1M	$7.7M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0123%	1h	303.59	−0.043%	$20K	$1.4M	25x	as long as short
Paradex TAO-USD-PERP	+0.0152%	8h	304.04	+0.107%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.91	+0.063%	$359K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.38	−0.112%	$434K	—	100x	as long as short
ApeX Omni TAOUSDT	+0.0211%	1h	303.28	−0.144%	$46K	$269K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.55	−0.055%	$4.3M	$9.3M	100x	as long as short
Lighter TAO	+0.0384%	1h	303.69	−0.008%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	304.21	+0.163%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0394%	1h	303.59	−0.042%	$378K	$757K	10x	as long as short
Nado TAO-PERP	+0.0417%	1h	303.90	+0.061%	$827K	$1.9M	10x	as long as short
Phoenix TAOshort	+0.0521%	1h	303.90	+0.061%	$322K	$491K	5x
Reya TAORUSDPERP	+0.0695%	1h	303.71	−0.003%	$349	—	20x	as long as short
Extended TAO-USD	+0.0832%	1h	303.42	−0.097%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.27	+0.512%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1041%	1h	303.48	−0.076%	$5.8M	$19.6M	50x	as long as short
RISEx TAO/USDC	+0.1155%	1h	304.20	+0.159%	$410K	$545K	5x	as long as short
Hyperliquid TAO	+0.1203%	1h	303.88	+0.054%	$92.6M	$79.9M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.651%	$22K	$264	12x	as long as short