Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.003%

Price spread now: Katana Perps against Bitget+0.165%7-day average +0.061% · you sell dearer than you buy

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

Long on Bitget Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.146%+$15 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.165%, 7d avg +0.061%

Together, before fees+0.015%+$1 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 0.104% dearer against Bitget than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	303.53	0.0100	pay 0.0050% / 4h	1h 46m	$34.0M	$45.5M	50x
Short	Katana Perps TAO-USD	304.03	0.0112	get 0.0112% / 8h	1h 46m	$2K	$486K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Bitget. 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 BitgetbpFee Katana PerpsbpOrdersPrice spread, now +0.165%Rate

Funding earned: $2.46
Price spread: +0.165% → +0.061%: $10.4
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$2.93
Costs to cover: 0.158%
Break-even: 15.3 days

Slippage unknown: Bitget: 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 Bitget live order book, 2 min ago	1.48 bp	9.4 bp −$9	21.6 bp −$216	49.4 bp −$4,941	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	−0.0466%	1h	307.38	+1.268%	$202K	$17K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	303.37	−0.053%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.10	−0.142%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.94	+0.135%	$43K	$534K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.95	+0.138%	$85.3M	$409.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.80	+0.089%	$58.9M	$120.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.60	+0.023%	$24.4M	$94.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.87	+0.112%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.50	−0.010%	$12.1M	$48.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	303.66	+0.043%	$120.8M	$124.0M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	303.27	−0.086%	$18.2M	$26.9M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	303.53	long leg	$34.0M	$45.5M	50x
BingX TAO-USDT	+0.0100%	4h	303.62	+0.030%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.07	+0.507%	$3.6M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	304.88	+0.446%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	304.81	+0.422%	$504K	$977K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.70	+0.056%	$77K	$607K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.35	−0.061%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.39	−0.046%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.44	−0.030%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.89	+0.119%	$120K	$356K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.44	−0.030%	$3.2M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.51	−0.006%	$167K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0106%	1h	303.70	+0.056%	$46K	$269K	50x	as long as short
Aster TAOUSDT	+0.0108%	4h	303.39	−0.047%	$1.1M	$7.7M	50x	as long as short
Katana Perps TAO-USDshort	+0.0112%	8h	304.03	+0.165%	$2K	$486K	5x
Paradex TAO-USD-PERP	+0.0154%	8h	303.62	+0.030%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.43	−0.034%	$358K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.15	−0.125%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0242%	1h	303.43	−0.034%	$22K	$1.4M	25x	as long as short
Lighter TAO	+0.0328%	1h	303.49	−0.015%	$1.6M	$5.2M	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.45	−0.026%	$4.3M	$9.3M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0380%	1h	303.52	−0.003%	$376K	$756K	10x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	304.21	+0.224%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0456%	1h	303.54	+0.004%	$826K	$1.9M	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.90	+0.122%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.45	−0.027%	$349	—	20x	as long as short
Extended TAO-USD	+0.0832%	1h	303.57	+0.012%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.27	+0.573%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.26	−0.089%	$5.8M	$19.7M	50x	as long as short
RISEx TAO/USDC	+0.1155%	1h	304.30	+0.254%	$410K	$545K	5x	as long as short
Hyperliquid TAO	+0.1306%	1h	303.77	+0.079%	$93.1M	$79.5M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.713%	$22K	$264	12x	as long as short