Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.001%

Price spread now: HTX against Katana Perps−0.293%7-day average −0.128% · you buy dearer than you sell

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

Long on Katana Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.168%−$17 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.293%, 7d avg −0.128%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and HTX is 0.165% cheaper against Katana Perps than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.128%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	320.48	0.0110	pay 0.0110% / 8h	2h 08m	$1K	$949K	5x
Short	HTX TAO-USDT	319.54	0.0100	get 0.0050% / 4h	2h 08m	$116K	$563K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.293%Rate

Funding earned: −$2.11
Price spread: −0.293% → −0.128%: −$16.49
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$34.41
Costs to cover: 0.158%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; HTX: live order book, 41 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 HTX live order book, 41 min ago	7.03 bp	146.1 bp −$146	doesn't fit	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	−0.1195%	1h	319.01	−0.458%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.99	−0.153%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0030%	1h	319.84	−0.201%	$128K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.20	−0.087%	$26.7M	$126.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.00	−0.150%	$14.3M	$51.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.18	−0.094%	$17.6M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.09	−0.122%	$36.1M	$57.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.27	−0.066%	$77K	$955K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.97	−0.159%	$2K	$1.9M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	319.54	−0.293%	$116K	$563K	20x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	320.12	−0.112%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USDlong	+0.0110%	8h	320.48	long leg	$1K	$949K	5x
edgeX TAOUSDC	+0.0110%	4h	319.26	−0.382%	$42K	$315K	10x	as long as short
Popdex TAOUSDT	+0.0112%	1h	320.58	+0.031%	$55K	$671K	20x	as long as short
Aevo TAO-PERP	+0.0112%	1h	320.41	−0.023%	$176K	$998	3x	as long as short
MEXC TAO_USDT	+0.0114%	4h	320.36	−0.037%	$102.1M	$148.3M	300x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	319.97	−0.159%	$53K	$291K	10x	as long as short
Binance TAOUSDT	+0.0123%	4h	320.36	−0.036%	$91.9M	$514.8M	75x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0142%	1h	319.98	−0.156%	$430K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	320.50	+0.006%	$365K	$421K	10x	as long as short
Aster TAOUSDT	+0.0282%	4h	320.26	−0.069%	$1.3M	$10.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0287%	8h	320.45	−0.008%	$15K	$1K	10x	as long as short
Nado TAO-PERP	+0.0296%	1h	320.30	−0.057%	$811K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0298%	1h	320.28	−0.063%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0324%	1h	320.39	−0.028%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0354%	4h	320.11	−0.115%	$4.6M	$11.0M	100x	as long as short
BingX TAO-USDT	+0.0388%	4h	320.33	−0.047%	—	$33.9M	—	as long as short
Bybit TAOUSDT	+0.0421%	4h	320.45	−0.009%	$70.4M	$153.9M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0440%	4h	319.60	−0.275%	$545K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	320.74	+0.081%	$103K	$358K	5x	as long as short
Variational Omni TAO	+0.0485%	4h	319.46	−0.319%	$5.6M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0487%	1h	319.47	−0.315%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0504%	1h	320.21	−0.085%	$911K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	320.60	+0.037%	$319K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0546%	1h	320.09	−0.122%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	320.37	−0.033%	$368	—	20x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	321.06	+0.181%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0806%	1h	320.50	+0.006%	$94.3M	$109.3M	5x	as long as short
Lighter TAO	+0.0808%	1h	320.50	+0.005%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0842%	1h	320.40	−0.025%	$317K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	321.29	+0.253%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	320.47	−0.003%	$461K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+0.768%	$23K	$2K	12x	as long as short