Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0014%/8hnext payment −$0.02 per $10,000 · paid last 24h −0.012%

Price spread now: Deribit against ApeX Omni+0.716%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs+$29as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on ApeX Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 3 days (all we have)−0.568%−$57 · spread now +0.716%, 7d avg −0.024%

Together, before fees−0.800%−$80 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.740% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.716% now, against its 7-day average of −0.024%): +$74 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6 months. At the pace of the last 7 days (−0.233% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	292.18	0.0100	pay 0.0013% / 1h	4m 53s	$44K	$266K	50x
Short	Deribit TAO_USDC-PERPETUAL	294.27	0.0086	get 0.0011% / 1h	4m 53s	$22K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against ApeX 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 ApeX OmnibpFee DeribitbpOrdersPrice spread, now +0.716%Rate

Funding earned: −$2.94
Price spread: +0.716% → −0.024%: $74.04
Slippage, 4 orders: −$28.31
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $25.79
Costs to cover: 0.453%
Break-even: from the start

Slippage from ApeX Omni: live order book, 26 min ago; Deribit: live order book, 3 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 ApeX Omni live order book, 26 min ago	5.61 bp	13.1 bp −$13	146.6 bp −$1,466	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	4.45 bp	11.3 bp −$11	doesn't fit	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	−0.2681%	1h	291.45	−0.250%	$192K	$44K	10x	as long as short
Kraken Futures PF_TAOUSD	−0.0158%	1h	294.33	+0.735%	$5.3M	$14.1M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	294.27	+0.715%	$75K	$35K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0010%	1h	294.19	+0.687%	$35K	—	150x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0086%	1h	294.27	+0.716%	$22K	$1.1M	25x
Popdex TAOUSDT	+0.0096%	1h	294.47	+0.784%	$34K	$482K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	294.43	+0.771%	$1.6M	$5.0M	50x	as long as short
Pacifica TAO	+0.0100%	1h	294.20	+0.690%	$341K	$375K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	294.76	+0.882%	$80.4M	$338.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	294.83	+0.907%	$52.0M	$88.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TAO-USDT-SWAP	+0.0100%	8h	294.50	+0.794%	$23.3M	$72.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	294.54	+0.808%	$129K	$580K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	294.70	+0.862%	$11.7M	$45.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	294.65	+0.845%	$106.5M	$106.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	294.76	+0.883%	$19.8M	$21.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	294.39	+0.756%	$33.2M	$37.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	294.81	+0.900%	—	$27.7M	—	as long as short
Variational Omni TAO	+0.0100%	4h	292.37	+0.066%	$3.2M	$5.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	292.48	+0.104%	$38K	$272K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	292.20	+0.006%	$523K	$884K	10x	as long as short
ApeX Omni TAOUSDTlong	+0.0100%	1h	292.18	long leg	$44K	$266K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	294.57	+0.818%	$85K	$508K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	294.30	+0.725%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	294.11	+0.661%	$54K	$235K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	293.97	+0.613%	$1K	$1.6M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	294.16	+0.678%	$123K	$312K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	294.49	+0.791%	$3.1M	$7.5M	50x	as long as short
Katana Perps TAO-USD	+0.0102%	8h	294.43	+0.770%	$1K	$348K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	294.21	+0.696%	$162K	$998	3x	as long as short
Paradex TAO-USD-PERP	+0.0105%	8h	294.14	+0.672%	$14K	$376	10x	as long as short
Nado TAO-PERP	+0.0187%	1h	294.35	+0.742%	$1.0M	$1.3M	10x	as long as short
Phoenix TAO	+0.0336%	1h	292.60	+0.144%	$311K	$158K	5x	as long as short
Extended TAO-USD	+0.0336%	1h	294.62	+0.837%	$782K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	294.48	+0.787%	$4.1M	$7.3M	100x	as long as short
01 Exchange TAOUSD	+0.0408%	1h	294.72	+0.869%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0416%	1h	294.77	+0.886%	$1.3M	$2.4M	5x	as long as short
RISEx TAO/USDC	+0.0478%	1h	294.52	+0.803%	$340K	$452K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0482% / S −0.0195%	1h	294.17	+0.681%	$444K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0675%	1h	294.92	+0.938%	$373K	$536K	10x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	294.30	+0.724%	$338	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0872%	1h	295.14	+1.013%	$1.5M	$4.4M	50x	as long as short
Hyperliquid TAO	+0.1165%	1h	295.07	+0.989%	$83.3M	$56.0M	5x	as long as short
Injective TAO/USDC PERP	+0.2947%	1h	294.49	+0.791%	$21K	$39K	12x	as long as short