Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.030%

Price spread now: gTrade (Gains Network) against Katana Perps−0.029%7-day average — · you buy dearer than you sell

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

Long on Katana Perps Short on gTrade (Gains Network)

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—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.029% cheaper against Katana Perps than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	315.41	0.0112	pay 0.0112% / 8h	5h 50m	$670	$743K	5x
Short	gTrade (Gains Network) TAO/USD	315.32	L +0.0004% / S −0.0004%	get 0.0001% / 1h	50m 23s	$10K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Katana Perps. 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 Katana PerpsbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.029%Rate

Funding earned: −$22.67
Price spread: −0.029% → 0.000%: −$2.92
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$39.39
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; gTrade (Gains Network): 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 Katana Perps no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Katana Perps and gTrade (Gains Network): 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
Bulk TAO-USD	−0.2257%	1h	317.17	+0.558%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.49	+0.343%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USDshort	L +0.0004% / S −0.0004%	1h	315.32	−0.029%	$10K	—	150x
Popdex TAOUSDT	+0.0096%	1h	315.34	−0.022%	$45K	$645K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.28	−0.041%	$91.1M	$468.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.50	+0.029%	$26.0M	$114.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	−0.067%	$12.9M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.39	−0.006%	$104.3M	$137.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.34	−0.022%	$18.0M	$30.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.11	−0.095%	$35.2M	$53.5M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.85	+0.775%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.20	−0.067%	$77K	$756K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.50	+0.029%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.01	−0.127%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.56	−0.269%	$129K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.27	−0.044%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.59	+0.059%	$173K	$998	3x	as long as short
Katana Perps TAO-USDlong	+0.0112%	8h	315.41	long leg	$670	$743K	5x
GMX TAO/USD [WBTC.b-USDC]	L +0.0164% / S +0.0105%	1h	315.00	−0.130%	$428K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0216%	4h	318.53	+0.989%	$530K	$946K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.15	−0.081%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0300%	4h	315.46	+0.015%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0314%	1h	315.40	−0.005%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0345%	8h	316.90	+0.471%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0378%	1h	315.28	−0.040%	$30K	$1.6M	25x	as long as short
Pacifica TAO	+0.0448%	1h	316.42	+0.321%	$374K	$393K	10x	as long as short
ApeX Omni TAOUSDT	+0.0473%	1h	317.85	+0.774%	$48K	$253K	50x	as long as short
Phoenix TAO	+0.0504%	1h	317.80	+0.758%	$333K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	315.61	+0.063%	$99K	$489K	5x	as long as short
Nado TAO-PERP	+0.0612%	1h	315.37	−0.012%	$760K	$2.1M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.27	−0.046%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0700%	4h	315.72	+0.098%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0726%	4h	315.83	+0.133%	$67.3M	$139.0M	50x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	315.44	+0.010%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0881%	4h	317.62	+0.702%	$6.0M	$9.6M	—	as long as short
Backpack TAO_USDC_PERP	+0.0909%	1h	317.67	+0.717%	$321K	$802K	10x	as long as short
Extended TAO-USD	+0.0928%	1h	315.20	−0.065%	$891K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.77	+1.382%	$1.5M	$6.5M	50x	as long as short
Lighter TAO	+0.1128%	1h	317.14	+0.549%	$1.6M	$6.1M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	315.20	−0.066%	$446K	$626K	5x	as long as short
Hyperliquid TAO	+0.1423%	1h	315.74	+0.105%	$99.9M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.753%	$23K	$2K	12x	as long as short