Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h +0.001%

Price spread now: Katana Perps against KuCoin−0.016%7-day average +0.017% · you buy dearer than you sell

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

Long on KuCoin Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.150%+$15 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.016%, 7d avg +0.017%

Together, before fees+0.120%+$12 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: Katana Perps is 0.033% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TAOUSDTM	314.59	0.0100	pay 0.0050% / 4h	7m 35s	$17.7M	$31.7M	75x
Short	Katana Perps TAO-USD	314.54	0.0098	get 0.0098% / 8h	4h 07m	$1K	$800K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against KuCoin. 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 KuCoinbpFee Katana PerpsbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$0.42
Price spread: −0.016% → +0.017%: −$3.31
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$19.52
Costs to cover: 0.158%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 11 min ago; Katana Perps: 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 KuCoin live order book, 11 min ago	1.75 bp	12.4 bp −$12	34.9 bp −$349	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

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
dYdX TAO-USD	0.0000%	1h	314.46	−0.040%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.57	−0.006%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.79	+0.064%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.68	+0.029%	$43K	$669K	20x	as long as short
Katana Perps TAO-USDshort	+0.0098%	8h	314.54	−0.016%	$1K	$800K	5x
Binance TAOUSDT	+0.0100%	4h	314.70	+0.035%	$91.0M	$495.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.75	+0.051%	$67.8M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.60	+0.003%	$26.0M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.40	−0.060%	$12.9M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.78	+0.060%	$99.6M	$144.3M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTMlong	+0.0100%	4h	314.59	long leg	$17.7M	$31.7M	75x
Bitget TAOUSDT	+0.0100%	4h	314.36	−0.073%	$35.1M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.66	+0.022%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.88	+0.091%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.41	−0.058%	$520K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.05	+0.146%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.50	−0.029%	$77K	$861K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.78	+0.062%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.71	+0.038%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.40	−0.060%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.81	+0.070%	$3.2M	$8.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.68	+0.029%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.84	+0.080%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.71	+0.038%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0144% / S +0.0123%	1h	314.52	−0.022%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0152%	8h	314.80	+0.066%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0164%	4h	314.67	+0.024%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0192%	1h	314.51	−0.026%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0216%	1h	314.61	+0.006%	$800K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0281%	1h	314.98	+0.125%	$92.7M	$106.5M	5x	as long as short
01 Exchange TAOUSD	+0.0336%	1h	314.87	+0.089%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.96	+0.118%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	314.94	+0.111%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0350%	1h	314.87	+0.089%	$315K	$912K	10x	as long as short
Pacifica TAO	+0.0365%	1h	314.85	+0.081%	$359K	$412K	10x	as long as short
Lighter TAO	+0.0368%	1h	315.13	+0.170%	$1.5M	$6.5M	5x	as long as short
Variational Omni TAO	+0.0450%	4h	315.00	+0.129%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0457%	1h	314.89	+0.096%	$23K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.90	+0.099%	$313K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.67	+0.026%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.68	+0.029%	$437K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.10	+0.162%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.144%	$23K	$2K	12x	as long as short