Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.4121%/8h= +451.3% APRpaid last 24h +0.611%

Price spread now: Injective against Katana Perps+1.578%7-day average — · you sell dearer than you buy

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

Long on Katana Perps Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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 for this trade now. Funding pays +$124 a day on $10k at the current rate, and Injective is 1.578% dearer against Katana Perps than usual: you sell high and buy low: +$158 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	314.95	0.0101	pay 0.0101% / 8h	4h 36m	$645	$787K	5x
Short	Injective TAO/USDC PERP	319.92	0.4222	get 0.0528% / 1h	36m 43s	$23K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.578%Rate

Funding earned: $865.48
Price spread: +1.578% → 0.000%: $157.8
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,019.46
Costs to cover: 0.038%
Break-even: from the start

Slippage unknown: Katana Perps: no order-book sample; Injective: 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 Injective no order-book sample	—	—	—	—	—

Katana Perps and Injective: 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	−0.0482%	1h	315.13	+0.057%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.15	−0.571%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.72	−0.073%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.68	−0.086%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.82	−0.041%	$42K	$688K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.36	−0.504%	$90.3M	$491.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	−0.587%	$25.8M	$119.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.90	−0.651%	$12.8M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.49	−0.464%	$106.8M	$142.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.23	−0.546%	$17.4M	$31.7M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	313.05	−0.603%	$35.0M	$56.0M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.76	+0.258%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.75	+0.254%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.99	+0.013%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.08	+0.041%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.81	−0.044%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.81	−0.044%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.72	−0.073%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USDlong	+0.0101%	8h	314.95	long leg	$645	$787K	5x
Bybit TAOUSDT	+0.0102%	4h	313.24	−0.543%	$68.3M	$147.3M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0104%	4h	316.85	+0.604%	$528K	$944K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.79	−0.051%	$173K	$998	3x	as long as short
BingX TAO-USDT	+0.0116%	4h	313.07	−0.597%	—	$30.0M	—	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	314.56	−0.124%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0150% / S +0.0123%	1h	314.63	−0.101%	$419K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0184%	8h	315.51	+0.177%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0185%	1h	315.02	+0.023%	$803K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0208%	4h	313.43	−0.481%	$1.2M	$10.2M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0231%	1h	314.61	−0.108%	$11K	$1.6M	25x	as long as short
Hyperliquid TAO	+0.0255%	1h	313.24	−0.545%	$92.3M	$106.0M	5x	as long as short
01 Exchange TAOUSD	+0.0256%	1h	315.19	+0.076%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0272%	1h	313.37	−0.502%	$917K	$2.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0337%	1h	313.89	−0.337%	$314K	$913K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.41	−0.171%	$4.5M	$10.8M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.49	+0.171%	$99K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	313.37	−0.502%	$357K	$411K	10x	as long as short
Lighter TAO	+0.0408%	1h	313.75	−0.380%	$1.5M	$6.5M	5x	as long as short
Phoenix TAO	+0.0581%	1h	317.30	+0.746%	$316K	$697K	5x	as long as short
Variational Omni TAO	+0.0615%	4h	315.95	+0.316%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.10	+0.048%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.16	+0.067%	$437K	$656K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.66	+0.225%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERPshort	+0.4222%	1h	319.92	+1.578%	$23K	$2K	12x