Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h −0.007%

Price spread now: Katana Perps against ApeX Omni+0.078%7-day average −0.007% · you sell dearer than you buy

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

Long on ApeX Omni Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)−0.302%−$30 · spread now +0.078%, 7d avg −0.007%

Together, before fees−0.169%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Katana Perps is 0.085% dearer against ApeX Omni than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	319.72	0.0100	pay 0.0013% / 1h	39m 30s	$45K	$259K	50x
Short	Katana Perps TAO-USD	319.97	0.0109	get 0.0109% / 8h	1h 39m	$1K	$1.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.078%Rate

Funding earned: $1.94
Price spread: +0.078% → −0.007%: $8.48
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$3.39
Costs to cover: 0.138%
Break-even: 19.2 days

Slippage unknown: ApeX Omni: live order book, 2 min ago; Katana Perps: 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 ApeX Omni live order book, 2 min ago	4.38 bp	11.4 bp −$11	119.4 bp −$1,194	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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	−0.2019%	1h	319.65	−0.022%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.74	+0.005%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.54	−0.058%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.07	+0.109%	$42K	$694K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.00	+0.088%	$26.5M	$129.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.40	−0.100%	$14.2M	$51.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.53	−0.059%	$17.9M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.61	−0.034%	$35.8M	$58.4M	50x	as long as short
ApeX Omni TAOUSDTlong	+0.0100%	1h	319.72	long leg	$45K	$259K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	319.88	+0.050%	$79K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	319.33	−0.122%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.46	−0.081%	$118K	$588K	20x	as long as short
Katana Perps TAO-USDshort	+0.0109%	8h	319.97	+0.078%	$1K	$1.0M	5x
Phemex TAOUSDT	+0.0117%	4h	319.86	+0.044%	$3.3M	$8.1M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	319.66	−0.019%	$53K	$292K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.73	+0.005%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0120% / S +0.0157%	1h	319.48	−0.074%	$432K	—	100x	as long as short
MEXC TAO_USDT	+0.0158%	4h	319.91	+0.059%	$105.1M	$149.7M	300x	as long as short
Binance TAOUSDT	+0.0158%	4h	319.96	+0.077%	$92.6M	$527.2M	75x	as long as short
edgeX TAOUSDC	+0.0159%	4h	319.80	+0.024%	$42K	$316K	10x	as long as short
Paradex TAO-USD-PERP	+0.0260%	8h	319.88	+0.052%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0313%	4h	319.89	+0.053%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0370%	4h	320.12	+0.125%	$69.9M	$155.8M	50x	as long as short
Bullet TAO-USD	+0.0389%	1h	319.84	+0.039%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0398%	4h	319.77	+0.016%	$4.7M	$11.1M	100x	as long as short
BingX TAO-USDT	+0.0398%	4h	319.89	+0.053%	—	$34.5M	—	as long as short
GRVT TAO_USDT_Perp	+0.0402%	4h	319.74	+0.007%	$544K	$940K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	319.91	+0.061%	$917K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	319.59	−0.042%	$364K	$423K	10x	as long as short
Variational Omni TAO	+0.0535%	4h	319.70	−0.007%	$5.6M	$10.2M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0540%	1h	319.62	−0.031%	$14K	$1.9M	25x	as long as short
Phoenix TAO	+0.0567%	1h	320.20	+0.150%	$319K	$709K	5x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	320.28	+0.175%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.41	+0.216%	$103K	$394K	5x	as long as short
Nado TAO-PERP	+0.0643%	1h	319.83	+0.035%	$801K	$2.1M	10x	as long as short
Hyperliquid TAO	+0.0655%	1h	320.21	+0.153%	$94.6M	$110.0M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0677%	1h	319.53	−0.059%	$300K	$904K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.80	+0.024%	$368	—	20x	as long as short
Lighter TAO	+0.0864%	1h	319.77	+0.015%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.89	+0.366%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	320.01	+0.091%	$460K	$664K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1154%	1h	319.80	+0.025%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.63	+1.223%	$24K	$2K	12x	as long as short