Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0204%/8h= −22.4% APRpaid last 24h −0.088%

Price spread now: Orderly against 01 Exchange+0.099%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Orderly is 0.099% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.099% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange TAOUSD	313.30	0.0328	pay 0.0041% / 1h	55m 53s	$3K	$4K	5x
Short	Orderly PERP_TAO_USDC	313.61	0.0124	get 0.0062% / 4h	3h 55m	$52K	$271K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.099%Rate

Funding earned: −$42.91
Price spread: +0.099% → 0.000%: $9.89
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$46.01
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Orderly: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

01 Exchange and Orderly: 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
Gate TAO_USDT	−0.0544%	4h	313.20	−0.032%	$13.0M	$49.2M	50x	as long as short
Kraken Futures PF_TAOUSD	−0.0346%	1h	313.43	+0.043%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	−0.0128%	1h	313.18	−0.038%	$43K	$653K	20x	as long as short
dYdX TAO-USD	0.0000%	1h	313.27	−0.010%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.33	+0.011%	$20K	—	150x	as long as short
Polymarket Perps TAO-USD	+0.0074%	1h	312.96	−0.109%	$77K	$863K	5x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	313.04	−0.083%	$641	$804K	5x	as long as short
Hyperliquid TAO	+0.0100%	1h	313.57	+0.086%	$92.0M	$106.9M	5x	as long as short
Pacifica TAO	+0.0100%	1h	313.37	+0.023%	$358K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.55	+0.081%	$90.6M	$495.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TAOUSDT	+0.0100%	4h	313.84	+0.172%	$67.6M	$149.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.60	+0.096%	$25.9M	$120.3M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.80	+0.479%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.44	+0.045%	$100.6M	$143.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.28	−0.006%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.08	−0.070%	$35.0M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.54	+0.077%	—	$33.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.93	+0.520%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.82	+0.484%	$534K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.03	+0.552%	$46K	$255K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.49	+0.061%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.05	−0.080%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.90	−0.128%	$109K	$535K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.57	+0.086%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDCshort	+0.0124%	4h	313.61	+0.099%	$52K	$271K	10x
Aster TAOUSDT	+0.0136%	4h	313.25	−0.017%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	313.31	+0.002%	$425K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0145%	8h	313.63	+0.105%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0192%	1h	313.30	+0.001%	$918K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	313.49	+0.061%	$101K	$440K	5x	as long as short
Nado TAO-PERP	+0.0263%	1h	313.16	−0.045%	$795K	$2.2M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0263%	1h	313.67	+0.117%	$22K	$1.7M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0294%	1h	313.48	+0.057%	$311K	$914K	10x	as long as short
01 Exchange TAOUSDlong	+0.0328%	1h	313.30	long leg	$3K	$4K	5x
BloFin TAO-USDT	+0.0340%	4h	313.29	−0.003%	$4.5M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0362%	4h	313.70	+0.128%	$5.6M	$9.9M	—	as long as short
Lighter TAO	+0.0424%	1h	313.73	+0.138%	$1.5M	$6.4M	5x	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.702%	$314K	$695K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.16	−0.046%	$360	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	313.17	−0.041%	$433K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	314.04	+0.236%	$1.5M	$6.6M	50x	as long as short
Phemex TAOUSDT	+0.1467%	4h	313.46	+0.051%	$3.2M	$8.1M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+1.395%	$23K	$2K	12x	as long as short