Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Orderly against Bitget+0.275%53s7-day average +0.046% · you sell dearer than you buy

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

Long on Bitget Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 3 days (all we have)−0.242%−$24 · spread now +0.275%, 7d avg +0.046%

Together, before fees−0.373%−$37 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.229% dearer against Bitget than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	316.81	0.0100	pay 0.0050% / 4h	3h 27m	$35.3M	$50.6M	50x
Short	Orderly PERP_TAO_USDC	317.68	0.0100	get 0.0050% / 4h	3h 27m	$57K	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.275%Rate

Funding earned: $0
Price spread: +0.275% → +0.046%: $22.91
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $4.91
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bitget: live order book, 2 min ago; 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 Bitget live order book, 2 min ago	1.73 bp	12.4 bp −$12	25.8 bp −$258	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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
Bulk TAO-USD	−0.1321%	1h	318.22	+0.445%	$169K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.04	+0.073%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.64	−0.054%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.22	+0.129%	$43K	$590K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.13	+0.102%	$91.2M	$447.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.30	+0.155%	$26.0M	$108.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.10	+0.092%	$12.9M	$50.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.96	+0.047%	$108.3M	$134.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.18	+0.117%	$18.2M	$29.2M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	316.81	long leg	$35.3M	$50.6M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.29	+0.150%	$40K	$292K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	318.49	+0.531%	$527K	$969K	10x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	317.68	+0.275%	$57K	$316K	10x
SunX TAO-USDT	+0.0100%	4h	317.48	+0.211%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.88	+0.338%	$127K	$424K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.43	+0.196%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.97	+0.366%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	317.29	+0.152%	$734	$625K	5x	as long as short
Bullet TAO-USD	+0.0124%	1h	317.02	+0.066%	$12K	$17K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0093%	1h	316.65	−0.050%	$456K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	317.41	+0.189%	$376K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	317.45	+0.202%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0220%	4h	317.10	+0.091%	$1.1M	$8.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	317.18	+0.116%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0237%	1h	317.61	+0.251%	$17K	$1.5M	25x	as long as short
ApeX Omni TAOUSDT	+0.0296%	1h	317.11	+0.095%	$48K	$266K	50x	as long as short
Polymarket Perps TAO-USD	+0.0297%	1h	317.40	+0.186%	$93K	$635K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.25	+0.139%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0398%	4h	317.25	+0.139%	—	$30.7M	—	as long as short
Variational Omni TAO	+0.0436%	4h	318.35	+0.485%	$5.5M	$8.7M	—	as long as short
Bybit TAOUSDT	+0.0453%	4h	317.58	+0.243%	$65.5M	$133.0M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0483%	1h	317.67	+0.272%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	318.50	+0.533%	$333K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	322.97	+1.944%	$23K	$678	12x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	317.49	+0.215%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	317.19	+0.119%	$365	—	20x	as long as short
Nado TAO-PERP	+0.0788%	1h	317.38	+0.180%	$882K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0858%	1h	317.73	+0.290%	$321K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.83	+0.638%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1141%	1h	317.28	+0.148%	$422K	$591K	5x	as long as short
Extended TAO-USD	+0.1144%	1h	317.38	+0.180%	$927K	$2.3M	25x	as long as short
Lighter TAO	+0.1392%	1h	317.95	+0.359%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2089%	1h	317.65	+0.265%	$102.3M	$91.1M	5x	as long as short