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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h 0.000%

Price spread now: Arcus against Katana Perps+0.109%7-day average +0.047% · you sell dearer than you buy

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

Long on Katana Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.143%−$14 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now +0.109%, 7d avg +0.047%

Together, before fees−0.170%−$17 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: Arcus is 0.062% dearer against Katana Perps than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	293.76	0.0100	pay 0.0100% / 8h	4h 23m	$601	$336K	5x
Short	Arcus TAO-USD	294.08	0.0100	get 0.0013% / 1h	23m 42s	$129K	$579K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Katana Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Katana PerpsbpFee ArcusbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$0.08
Price spread: +0.109% → +0.047%: $6.16
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$2.23
Costs to cover: 0.083%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Arcus: live order book, 9 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Arcus live order book, 9 min ago	3.26 bp	7.9 bp −$8	21.8 bp −$218	doesn't fit	doesn't fit

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	−0.0948%	1h	288.22	−1.886%	$190K	$44K	10x	as long as short
Kraken Futures PF_TAOUSD	−0.0159%	1h	294.14	+0.130%	$5.4M	$13.8M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	292.40	−0.463%	$75K	$35K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	293.65	−0.039%	$28K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	293.90	+0.048%	$31K	$474K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	293.65	−0.036%	$1.7M	$4.9M	50x	as long as short
Pacifica TAO	+0.0100%	1h	292.39	−0.468%	$339K	$373K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	292.48	−0.436%	$79.5M	$333.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	292.47	−0.439%	$51.3M	$87.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	292.30	−0.497%	$23.3M	$71.3M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus TAO-USDshort	+0.0100%	1h	294.08	+0.109%	$129K	$579K	5x
Gate TAO_USDT	+0.0100%	4h	293.40	−0.123%	$11.7M	$44.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	292.39	−0.466%	$104.6M	$105.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	292.35	−0.480%	$19.7M	$21.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	292.11	−0.562%	$33.1M	$36.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	292.36	−0.477%	—	$29.7M	—	as long as short
Variational Omni TAO	+0.0100%	4h	294.61	+0.291%	$3.2M	$5.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	294.63	+0.298%	$38K	$271K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	294.02	+0.087%	$516K	$871K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	294.22	+0.157%	$44K	$266K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	293.73	−0.010%	$84K	$506K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	293.73	−0.010%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	293.69	−0.024%	$54K	$235K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	293.51	−0.085%	$2K	$1.6M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	292.73	−0.351%	$122K	$311K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	293.70	−0.020%	$3.1M	$7.5M	50x	as long as short
Katana Perps TAO-USDlong	+0.0100%	8h	293.76	long leg	$601	$336K	5x
Aevo TAO-PERP	+0.0104%	1h	293.92	+0.056%	$161K	$998	3x	as long as short
Paradex TAO-USD-PERP	+0.0105%	8h	292.24	−0.517%	$14K	$376	10x	as long as short
Nado TAO-PERP	+0.0151%	1h	293.71	−0.016%	$1.0M	$1.2M	10x	as long as short
Extended TAO-USD	+0.0160%	1h	293.55	−0.071%	$809K	$1.4M	25x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0196%	1h	293.78	+0.008%	$23K	$1.0M	25x	as long as short
Phoenix TAO	+0.0336%	1h	294.70	+0.320%	$313K	$158K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	293.65	−0.037%	$4.0M	$7.2M	100x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	294.13	+0.126%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0440%	1h	292.60	−0.396%	$1.3M	$2.4M	5x	as long as short
RISEx TAO/USDC	+0.0478%	1h	293.90	+0.048%	$338K	$451K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0494% / S −0.0204%	1h	293.67	−0.032%	$454K	—	100x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	293.65	−0.037%	$338	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0872%	1h	295.09	+0.453%	$1.5M	$4.2M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0884%	1h	294.13	+0.126%	$408K	$497K	10x	as long as short
Hyperliquid TAO	+0.1297%	1h	293.04	−0.245%	$83.8M	$55.2M	5x	as long as short
Injective TAO/USDC PERP	+0.2947%	1h	291.06	−0.919%	$21K	$39K	12x	as long as short