Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0600%/8h= +65.8% APRpaid last 24h +0.006%

Price spread now: Variational Omni against Bullet+0.298%52s7-day average — · you sell dearer than you buy

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

Long on Bullet Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Variational Omni is 0.298% dearer against Bullet than usual: you sell high and buy low: +$30 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 52 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	Bullet TAO-USD	314.79	0.0244	pay 0.0031% / 1h	19m 33s	$12K	$17K	20x
Short	Variational Omni TAO	315.73	0.0845	get 0.0422% / 4h	2h 19m	$5.5M	$8.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bullet. 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 BulletbpFee Variational OmnibpOrdersPrice spread, now +0.298%Rate

Funding earned: $126.1
Price spread: +0.298% → 0.000%: $29.76
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $147.86
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Bullet: no order-book sample; Variational Omni: RFQ quote, 5 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 Bullet no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	2.86 bp	doesn't fit	21.2 bp −$212	doesn't fit	doesn't fit

Bullet: 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 42 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
dYdX TAO-USD	0.0000%	1h	314.46	−0.105%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.49	−0.096%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.72	−0.022%	$43K	$633K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.78	−0.002%	$90.4M	$467.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.90	+0.035%	$26.0M	$112.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.50	−0.092%	$12.8M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.61	−0.057%	$111.0M	$139.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.02	+0.073%	$18.0M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.54	−0.079%	$35.1M	$53.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.73	+0.299%	$35K	$300K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	316.92	+0.677%	$47K	$252K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.79	0.000%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.54	−0.079%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.49	−0.095%	$129K	$472K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.07	+0.087%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	314.81	+0.006%	$2K	$710K	5x	as long as short
Phemex TAOUSDT	+0.0121%	4h	314.68	−0.035%	$3.4M	$7.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0125%	1h	314.86	+0.022%	$81K	$681K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0168%	1h	314.65	−0.045%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0098%	1h	314.49	−0.094%	$430K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0174%	4h	317.11	+0.738%	$523K	$954K	10x	as long as short
Bullet TAO-USDlong	+0.0244%	1h	314.79	long leg	$12K	$17K	20x
Aster TAOUSDT	+0.0254%	4h	314.69	−0.033%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	314.88	+0.029%	$370K	$384K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.17	+0.121%	$99K	$529K	5x	as long as short
Paradex TAO-USD-PERP	+0.0360%	8h	314.77	−0.007%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	318.67	+1.233%	$23K	$2K	12x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0472%	1h	314.66	−0.042%	$23K	$1.5M	25x	as long as short
Nado TAO-PERP	+0.0527%	1h	314.60	−0.060%	$785K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	317.30	+0.797%	$332K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	315.07	+0.089%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.60	−0.059%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0780%	4h	314.87	+0.025%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0842%	4h	314.92	+0.041%	$66.1M	$138.0M	50x	as long as short
Variational Omni TAOshort	+0.0845%	4h	315.73	+0.298%	$5.5M	$8.9M	—
Extended TAO-USD	+0.0912%	1h	314.78	−0.003%	$905K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0926%	1h	315.28	+0.156%	$319K	$810K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.39	+0.508%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	314.88	+0.027%	$450K	$631K	5x	as long as short
Hyperliquid TAO	+0.1324%	1h	315.45	+0.210%	$100.1M	$95.0M	5x	as long as short
Lighter TAO	+0.1408%	1h	315.44	+0.205%	$1.6M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−1.857%	$164K	$40K	10x	as long as short