Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.120%

Price spread now: Gate against Kraken Futures−0.030%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 3 days (all we have)−0.063%−$6 · spread now −0.030%, 7d avg −0.088%

Together, before fees−0.295%−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.058% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.030% now, against its 7-day average of −0.088%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	314.39	0.0168	pay 0.0021% / 1h	17m 18s	$5.6M	$20.5M	50x
Short	Gate TAO_USDT	314.30	0.0100	get 0.0050% / 4h	2h 17m	$12.8M	$50.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now −0.030%Rate

Funding earned: −$14.28
Price spread: −0.030% → −0.088%: $5.79
Slippage, 4 orders: −$41.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$75.35
Costs to cover: 0.669%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Gate: live order book, 2 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 Kraken Futures live order book, 2 min ago	6.50 bp	17.6 bp −$18	25.2 bp −$252	95.2 bp −$9,521	doesn't fit
Sell Gate live order book, 2 min ago	3.17 bp	17.9 bp −$18	38.0 bp −$380	62.8 bp −$6,278	108.4 bp −$54.2K

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
dYdX TAO-USD	0.0000%	1h	315.05	+0.208%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.12	−0.089%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.02	+0.199%	$43K	$634K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.58	+0.059%	$90.3M	$467.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.40	+0.002%	$26.0M	$112.8M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	314.30	−0.030%	$12.8M	$50.5M	50x
MEXC TAO_USDT	+0.0100%	4h	314.56	+0.053%	$111.3M	$139.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.62	+0.072%	$18.0M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.06	−0.106%	$35.0M	$53.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.93	+0.170%	$35K	$300K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	314.80	+0.129%	$47K	$253K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.32	−0.023%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.38	−0.004%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.22	+0.263%	$129K	$473K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.47	+0.024%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.87	+0.153%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	314.97	+0.183%	$2K	$712K	5x	as long as short
Polymarket Perps TAO-USD	+0.0119%	1h	314.91	+0.164%	$79K	$682K	5x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0168%	1h	314.39	long leg	$5.6M	$20.5M	50x
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0099%	1h	314.14	−0.081%	$430K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0176%	4h	315.62	+0.390%	$520K	$954K	10x	as long as short
Bullet TAO-USD	+0.0248%	1h	314.61	+0.069%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0259%	4h	314.89	+0.159%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	315.42	+0.326%	$371K	$384K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.40	+0.320%	$99K	$529K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0339%	1h	314.23	−0.051%	$22K	$1.5M	25x	as long as short
Paradex TAO-USD-PERP	+0.0364%	8h	315.55	+0.366%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	318.67	+1.360%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0532%	1h	314.68	+0.092%	$785K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	316.00	+0.511%	$330K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	315.27	+0.279%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.45	+0.018%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0800%	4h	314.51	+0.037%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0824%	4h	314.63	+0.075%	$66.1M	$138.0M	50x	as long as short
Variational Omni TAO	+0.0845%	4h	315.73	+0.424%	$5.5M	$8.9M	—	as long as short
Extended TAO-USD	+0.0928%	1h	314.31	−0.027%	$903K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0930%	1h	315.64	+0.396%	$319K	$810K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	314.96	+0.180%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	315.06	+0.213%	$450K	$631K	5x	as long as short
Hyperliquid TAO	+0.1336%	1h	315.05	+0.209%	$100.1M	$95.2M	5x	as long as short
Lighter TAO	+0.1432%	1h	315.03	+0.203%	$1.6M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−1.733%	$164K	$40K	10x	as long as short