Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0406%/8h= +44.5% APRpaid last 24h +0.252%

Price spread now: Variational Omni against Bulk+0.352%7-day average +0.132% · you sell dearer than you buy

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

Long on Bulk Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.303%+$30 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now +0.352%, 7d avg +0.132%

Together, before fees+0.367%+ Points / potential airdropVariational Omni: Active · farm board+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Variational Omni is 0.220% dearer against Bulk than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.132%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	307.82	−0.0306	get 0.0038% / 1h	59m 55s	$202K	$57K	10x
Short	Variational Omni TAO	308.90	0.0100	get 0.0050% / 4h	1h 59m	$3.7M	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bulk. 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 BulkbpFee Variational OmnibpOrdersPrice spread, now +0.352%Rate

Funding earned: $85.33
Price spread: +0.352% → +0.132%: $22.04
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $100.36
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Bulk: live order book, 24 min ago; Variational Omni: RFQ quote, 4 min ago. 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 Bulk live order book, 24 min ago	0.16 bp	3.7 bp −$4	5.1 bp −$51	10.6 bp −$1,063	39.7 bp −$19.8K
Sell Variational Omni RFQ quote, 4 min ago	2.89 bp	doesn't fit	21.4 bp −$214	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-USDlong	−0.0306%	1h	307.82	long leg	$202K	$57K	10x
dYdX TAO-USD	0.0000%	1h	308.46	+0.208%	$130K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	307.39	−0.139%	$11K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	307.77	−0.018%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.24	+0.136%	$43K	$532K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.71	+0.289%	$364K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.34	−0.156%	$86.3M	$406.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.46	−0.117%	$59.8M	$119.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.20	−0.201%	$24.8M	$94.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.67	+0.276%	$138K	$584K	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.40	−0.136%	$12.3M	$49.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.15	−0.218%	$119.8M	$127.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.39	−0.140%	$18.9M	$26.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.08	−0.240%	$34.5M	$45.3M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.01	−0.263%	—	$30.4M	—	as long as short
Variational Omni TAOshort	+0.0100%	4h	308.90	+0.352%	$3.7M	$6.6M	—
edgeX TAOUSDC	+0.0100%	4h	309.38	+0.507%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	308.67	+0.276%	$549K	$949K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	308.31	+0.159%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.35	+0.172%	$78K	$651K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.21	+0.126%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.42	−0.130%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.06	+0.078%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.23	−0.192%	$121K	$354K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.52	−0.097%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.53	−0.094%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	308.43	+0.198%	$631	$469K	5x	as long as short
Aster TAOUSDT	+0.0160%	4h	307.44	−0.124%	$1.1M	$7.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0161%	8h	308.53	+0.232%	$14K	$1K	10x	as long as short
Phoenix TAO	+0.0234%	1h	309.10	+0.416%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0319%	1h	308.24	+0.137%	$847K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	308.79	+0.315%	$4.3M	$9.5M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0485% / S −0.0184%	1h	307.73	−0.029%	$452K	—	100x	as long as short
01 Exchange TAOUSD	+0.0552%	1h	308.55	+0.237%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	308.17	+0.115%	$354	—	20x	as long as short
Extended TAO-USD	+0.0824%	1h	307.15	−0.219%	$898K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0873%	1h	307.65	−0.055%	$383K	$754K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.31	+0.159%	$1.5M	$5.4M	50x	as long as short
Lighter TAO	+0.0968%	1h	307.96	+0.047%	$1.7M	$4.9M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.59	−0.075%	$6.3M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	308.44	+0.203%	$415K	$544K	5x	as long as short
Hyperliquid TAO	+0.1879%	1h	308.27	+0.146%	$96.6M	$77.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	+0.296%	$22K	$271	12x	as long as short