Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0123%/8h= +13.4% APRpaid last 24h +0.029%

Price spread now: Pacifica against Gate+0.023%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.023%, 7d avg +0.046%

Together, before fees−0.044%+ Points / potential airdropPacifica: Active · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.023% cheaper against Gate than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.046%). If the spread goes back, that is −$2 on $10k: about 15 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.058% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	312.20	0.0100	pay 0.0050% / 4h	49m 20s	$16.0M	$46.4M	50x
Short	Pacifica TAO	312.27	0.0223	get 0.0028% / 1h	49m 20s	$379K	$455K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Gate. 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 GatebpFee PacificabpOrdersPrice spread, now +0.023%Rate

Funding earned: $25.74
Price spread: +0.023% → +0.046%: −$2.25
Slippage, 4 orders: −$27.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$26.67
Costs to cover: 0.502%
Break-even: 14.3 days

Slippage from Gate: live order book, 3 min ago; Pacifica: live order book, 57 min ago.

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 Gate live order book, 3 min ago	3.20 bp	14.4 bp −$14	34.8 bp −$348	52.6 bp −$5,263	89.5 bp −$44.8K
Sell Pacifica live order book, 57 min ago	2.21 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit

TAO on 43 exchanges

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	311.80	−0.127%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.11	+0.291%	$54K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.00	−0.064%	$26.7M	$125.0M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	312.20	long leg	$16.0M	$46.4M	50x
KuCoin TAOUSDTM	+0.0100%	4h	313.20	+0.320%	$17.2M	$31.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.01	−0.061%	$35.3M	$54.3M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.80	+0.192%	$68K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.11	−0.029%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.59	+0.125%	$114K	$550K	20x	as long as short
Katana Perps TAO-USD	+0.0102%	8h	312.82	+0.199%	$2K	$1.3M	5x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended TAO-USD	+0.0104%	1h	312.21	+0.004%	$922K	$2.1M	25x	as long as short
ApeX Omni TAOUSDT	+0.0105%	1h	312.02	−0.058%	$44K	$254K	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	312.63	+0.138%	$172K	$998	3x	as long as short
MEXC TAO_USDT	+0.0166%	4h	312.61	+0.131%	$111.3M	$147.0M	300x	as long as short
Binance TAOUSDT	+0.0167%	4h	312.50	+0.095%	$92.7M	$506.8M	75x	as long as short
edgeX TAOUSDC	+0.0172%	4h	311.93	−0.086%	$41K	$325K	10x	as long as short
Pacifica TAOshort	+0.0223%	1h	312.27	+0.023%	$379K	$455K	10x
GRVT TAO_USDT_Perp	+0.0272%	4h	312.02	−0.057%	$531K	$786K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0280%	4h	312.04	−0.051%	$52K	$262K	10x	as long as short
Paradex TAO-USD-PERP	+0.0300%	8h	312.38	+0.058%	$14K	$769	10x	as long as short
Lighter TAO	+0.0312%	1h	312.69	+0.156%	$1.6M	$6.7M	5x	as long as short
Bullet TAO-USD	+0.0332%	1h	312.42	+0.071%	$12K	$16K	20x	as long as short
Aster TAOUSDT	+0.0349%	4h	312.54	+0.110%	$1.2M	$11.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0371% / S −0.0114%	1h	312.05	−0.049%	$377K	—	100x	as long as short
BingX TAO-USDT	+0.0372%	4h	311.89	−0.099%	—	$37.8M	—	as long as short
Bybit TAOUSDT	+0.0387%	4h	312.71	+0.163%	$69.1M	$154.5M	50x	as long as short
BloFin TAO-USDT	+0.0406%	4h	312.15	−0.016%	$4.9M	$10.5M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0454%	1h	312.17	−0.010%	$23K	$1.9M	25x	as long as short
Phemex TAOUSDT	+0.0485%	4h	312.73	+0.170%	$3.1M	$8.3M	50x	as long as short
dYdX TAO-USD	+0.0487%	1h	312.02	−0.059%	$263K	$230K	5x	as long as short
Nado TAO-PERP	+0.0521%	1h	312.38	+0.057%	$650K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0574%	1h	313.06	+0.275%	$93.6M	$105.3M	5x	as long as short
Arcus TAO-USD	+0.0587%	1h	312.84	+0.205%	$99K	$285K	5x	as long as short
Variational Omni TAO	+0.0603%	4h	312.01	−0.060%	$6.2M	$10.1M	—	as long as short
Phoenix TAO	+0.0636%	1h	312.80	+0.192%	$314K	$701K	5x	as long as short
RISEx TAO/USDC	+0.0694%	1h	312.73	+0.170%	$436K	$663K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	312.78	+0.187%	$360	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0728%	1h	313.12	+0.295%	$1.1M	$7.4M	50x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	313.17	+0.311%	$3K	$2K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0865%	1h	312.38	+0.057%	$6.2M	$19.6M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0897%	1h	312.49	+0.093%	$297K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.1436%	1h	313.89	+0.541%	$166K	$662	10x	as long as short
Injective TAO/USDC PERP	+0.4136%	1h	317.23	+1.611%	$23K	$2K	12x	as long as short