Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Orderly+0.256%7-day average −0.005% · you sell dearer than you buy

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

Long on Orderly Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 4 days (all we have)−0.408%−$41 · spread now +0.256%, 7d avg −0.005%

Together, before fees−0.309%−$31 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: KuCoin is 0.261% dearer against Orderly than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	315.98	0.0100	pay 0.0050% / 4h	1h 46m	$57K	$282K	10x
Short	KuCoin TAOUSDTM	316.79	0.0100	get 0.0050% / 4h	1h 46m	$18.2M	$30.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Orderly. 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 OrderlybpFee KuCoinbpOrdersPrice spread, now +0.256%Rate

Funding earned: $0
Price spread: +0.256% → −0.005%: $26.13
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $8.13
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; KuCoin: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	2.37 bp	22.9 bp −$23	40.0 bp −$400	doesn't fit	doesn't fit

Orderly: 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	−0.2257%	1h	317.17	+0.377%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.54	+0.176%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.82	−0.052%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.46	+0.152%	$44K	$650K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.80	+0.260%	$91.6M	$469.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.70	+0.228%	$26.2M	$115.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.70	+0.228%	$13.0M	$49.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.61	+0.199%	$105.4M	$138.1M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	316.79	+0.256%	$18.2M	$30.7M	75x
Bitget TAOUSDT	+0.0100%	4h	316.71	+0.231%	$35.4M	$53.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	315.81	−0.054%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.18	+0.063%	$76K	$757K	5x	as long as short
Orderly PERP_TAO_USDClong	+0.0100%	4h	315.98	long leg	$57K	$282K	10x
SunX TAO-USDT	+0.0100%	4h	315.58	−0.127%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.74	−0.076%	$129K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.28	+0.095%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.99	+0.002%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	316.47	+0.155%	$1K	$746K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0164% / S +0.0105%	1h	315.75	−0.072%	$429K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0212%	4h	317.35	+0.433%	$528K	$946K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0229%	1h	315.84	−0.046%	$20K	$1.6M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.45	−0.167%	$5.6M	$20.5M	50x	as long as short
Bullet TAO-USD	+0.0281%	1h	316.21	+0.073%	$12K	$18K	20x	as long as short
Aster TAOUSDT	+0.0296%	4h	316.75	+0.244%	$1.2M	$9.3M	50x	as long as short
Paradex TAO-USD-PERP	+0.0340%	8h	316.47	+0.155%	$14K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	+0.006%	—	$10.3M	100x	as long as short
Pacifica TAO	+0.0448%	1h	316.83	+0.269%	$374K	$396K	10x	as long as short
Phoenix TAO	+0.0504%	1h	316.70	+0.228%	$332K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	317.00	+0.323%	$100K	$489K	5x	as long as short
Nado TAO-PERP	+0.0577%	1h	316.44	+0.145%	$763K	$2.1M	10x	as long as short
BingX TAO-USDT	+0.0684%	4h	316.91	+0.294%	—	$30.3M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.25	+0.087%	$364	—	20x	as long as short
Bybit TAOUSDT	+0.0704%	4h	316.86	+0.278%	$67.4M	$139.5M	50x	as long as short
01 Exchange TAOUSD	+0.0736%	1h	316.76	+0.247%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0866%	1h	316.68	+0.222%	$320K	$802K	10x	as long as short
Variational Omni TAO	+0.0881%	4h	317.62	+0.520%	$6.0M	$9.6M	—	as long as short
Extended TAO-USD	+0.0920%	1h	316.86	+0.278%	$896K	$2.3M	25x	as long as short
ApeX Omni TAOUSDT	+0.0923%	1h	316.03	+0.016%	$46K	$253K	50x	as long as short
Lighter TAO	+0.0984%	1h	317.19	+0.383%	$1.6M	$6.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.65	+0.529%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.56	+0.184%	$448K	$626K	5x	as long as short
Hyperliquid TAO	+0.1438%	1h	317.39	+0.446%	$100.3M	$98.3M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	319.69	+1.174%	$23K	$2K	12x	as long as short