Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.005%

Price spread now: Bitget against Aevo−0.123%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1211.214% of the position

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.123%, 7d avg −0.078%

Together, before fees+0.046%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.045% cheaper against Aevo than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.078%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	316.96	0.0120	pay 0.0015% / 1h	51m 52s	$174K	$998	3x
Short	Bitget TAOUSDT	316.57	0.0100	get 0.0050% / 4h	1h 51m	$35.9M	$56.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aevo. 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 AevobpFee BitgetbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$4.2
Price spread: −0.123% → −0.078%: −$4.48
Slippage, 4 orders: −$93.39
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$130.07
Costs to cover: 1.214%
Break-even: never at this rate

Slippage from Aevo: live order book, 60 min ago; Bitget: live order book, 5 min ago.

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 Aevo live order book, 60 min ago	34.56 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.73 bp	12.5 bp −$12	15.7 bp −$157	18.8 bp −$1,877	doesn't fit

TAO on 43 exchanges

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 −0.0003%	1h	316.86	−0.032%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.06	+0.032%	$50K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.70	−0.082%	$26.9M	$128.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.50	−0.145%	$15.8M	$47.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.70	−0.082%	$17.6M	$31.4M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	316.57	−0.123%	$35.9M	$56.0M	50x
ApeX Omni TAOUSDT	+0.0100%	1h	317.79	+0.262%	$45K	$253K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.57	−0.123%	$81K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.90	−0.019%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.03	+0.022%	$113K	$563K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0104%	8h	316.93	−0.009%	$3K	$1.3M	5x	as long as short
Phemex TAOUSDT	+0.0107%	4h	316.91	−0.016%	$3.2M	$8.1M	50x	as long as short
Bybit TAOUSDT	+0.0110%	4h	316.80	−0.050%	$69.4M	$155.6M	50x	as long as short
Aevo TAO-PERPlong	+0.0120%	1h	316.96	long leg	$174K	$998	3x
MEXC TAO_USDT	+0.0140%	4h	316.94	−0.006%	$105.3M	$147.1M	300x	as long as short
Binance TAOUSDT	+0.0141%	4h	316.82	−0.043%	$93.2M	$511.3M	75x	as long as short
BingX TAO-USDT	+0.0152%	4h	316.72	−0.076%	—	$37.9M	—	as long as short
edgeX TAOUSDC	+0.0153%	4h	318.61	+0.520%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0208%	8h	317.08	+0.039%	$14K	$876	10x	as long as short
Extended TAO-USD	+0.0216%	1h	316.68	−0.088%	$953K	$2.1M	25x	as long as short
Lighter TAO	+0.0232%	1h	316.97	+0.004%	$1.6M	$6.6M	5x	as long as short
Pacifica TAO	+0.0240%	1h	317.11	+0.046%	$375K	$456K	10x	as long as short
Bullet TAO-USD	+0.0255%	1h	317.12	+0.049%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0256%	4h	316.85	−0.035%	$53K	$262K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0268%	4h	317.35	+0.122%	$541K	$805K	10x	as long as short
Aster TAOUSDT	+0.0309%	4h	316.80	−0.051%	$1.2M	$11.2M	50x	as long as short
Nado TAO-PERP	+0.0355%	1h	317.07	+0.034%	$699K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	316.55	−0.130%	$372K	—	100x	as long as short
BloFin TAO-USDT	+0.0386%	4h	317.05	+0.028%	$4.9M	$10.4M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0390%	1h	316.84	−0.037%	$15K	$1.9M	25x	as long as short
Variational Omni TAO	+0.0445%	4h	318.15	+0.377%	$5.7M	$9.8M	—	as long as short
Hyperliquid TAO	+0.0466%	1h	317.03	+0.022%	$95.5M	$107.0M	5x	as long as short
dYdX TAO-USD	+0.0525%	1h	316.61	−0.110%	$267K	$230K	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	317.46	+0.158%	$100K	$310K	5x	as long as short
Phoenix TAO	+0.0650%	1h	317.60	+0.202%	$319K	$710K	5x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	317.20	+0.076%	$3K	$2K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0657%	1h	316.97	+0.003%	$298K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	317.04	+0.026%	$437K	$680K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	317.17	+0.066%	$1.1M	$7.6M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	316.84	−0.036%	$364	—	20x	as long as short
Bulk TAO-USD	+0.0807%	1h	318.75	+0.565%	$169K	$0	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0930%	1h	316.98	+0.006%	$6.2M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	322.67	+1.801%	$23K	$2K	12x	as long as short