Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0492%/8h= −53.9% APRpaid last 24h −0.078%

Price spread now: Bybit against 01 Exchange−0.060%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Bybit

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—needs both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Bybit is 0.060% cheaper against 01 Exchange than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange TAOUSD	316.12	0.0592	pay 0.0074% / 1h	3m 03s	$3K	$4K	5x
Short	Bybit TAOUSDT	315.93	0.0100	get 0.0050% / 4h	3m 03s	$64.9M	$127.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against 01 Exchange. 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 01 ExchangebpFee BybitbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$103.32
Price spread: −0.060% → 0.000%: −$6.01
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$127.33
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Bybit: live order book, 6 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Bybit live order book, 6 min ago	0.16 bp	9.7 bp −$10	17.0 bp −$170	38.0 bp −$3,800	doesn't fit

01 Exchange: 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	−0.2086%	1h	311.96	−1.316%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.43	+0.099%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.72	−0.126%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	315.12	−0.316%	$23K	$374	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.94	−0.057%	$39K	$567K	20x	as long as short
Pacifica TAO	+0.0100%	1h	316.61	+0.155%	$374K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.43	−0.218%	$89.5M	$431.1M	75x	as long as short
Bybit TAOUSDTshort	+0.0100%	4h	315.93	−0.060%	$64.9M	$127.9M	50x
OKX TAO-USDT-SWAP	+0.0100%	8h	315.90	−0.070%	$25.4M	$103.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.70	−0.133%	$12.6M	$50.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	315.69	−0.136%	$111.6M	$132.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.04	−0.025%	$18.8M	$27.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.72	−0.127%	$35.3M	$47.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.89	−0.073%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.07	−0.965%	$41K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.90	−1.020%	$524K	$952K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.33	−1.199%	$47K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.97	−0.047%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.91	−0.066%	$61K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.36	−0.240%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.16	+0.013%	$129K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.53	−0.187%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.31	+0.062%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	315.93	−0.060%	$1K	$575K	5x	as long as short
Polymarket Perps TAO-USD	+0.0111%	1h	316.19	+0.022%	$77K	$450K	5x	as long as short
Aster TAOUSDT	+0.0162%	4h	315.63	−0.154%	$1.1M	$7.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	315.63	−0.157%	$450K	—	100x	as long as short
Arcus TAO-USD	+0.0186%	1h	316.39	+0.085%	$84K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0198%	8h	316.64	+0.165%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0220%	4h	312.31	−1.204%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.59	−0.168%	$4.4M	$10.6M	100x	as long as short
Nado TAO-PERP	+0.0419%	1h	316.07	−0.014%	$858K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0445%	1h	315.65	−0.147%	$5.8M	$19.9M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0446%	1h	315.77	−0.110%	$25K	$1.5M	25x	as long as short
Phoenix TAO	+0.0537%	1h	315.70	−0.133%	$330K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0545%	1h	315.90	−0.070%	$297K	$804K	10x	as long as short
01 Exchange TAOUSDlong	+0.0592%	1h	316.12	long leg	$3K	$4K	5x
Reya TAORUSDPERP	+0.0695%	1h	315.80	−0.102%	$363	—	20x	as long as short
Extended TAO-USD	+0.0880%	1h	315.72	−0.127%	$931K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	317.76	+0.519%	$1.5M	$5.9M	50x	as long as short
Lighter TAO	+0.1192%	1h	316.03	−0.027%	$1.7M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	316.00	−0.037%	$418K	$585K	5x	as long as short
Hyperliquid TAO	+0.1590%	1h	316.29	+0.054%	$99.1M	$84.8M	5x	as long as short