Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Bybit against Pacifica−0.017%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now −0.017%, 7d avg +0.017%

Together, before fees−0.069%+ Points / potential airdropPacifica: Active · farm board−$7 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: Bybit is 0.034% cheaper against Pacifica 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	Pacifica TAO	312.24	0.0100	pay 0.0013% / 1h	25m 35s	$370K	$363K	10x
Short	Bybit TAOUSDT	312.19	0.0100	get 0.0050% / 4h	25m 35s	$61.2M	$125.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.017%: −$3.37
Slippage, 4 orders: −$23.07
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$45.44
Costs to cover: 0.421%
Break-even: never at this rate

Slippage from Pacifica: live order book, 53 min ago; Bybit: live order book, 3 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 Pacifica live order book, 53 min ago	3.43 bp	10.9 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.16 bp	10.7 bp −$11	17.6 bp −$176	39.5 bp −$3,945	doesn't fit

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	−0.4493%	1h	315.57	+1.066%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	311.85	−0.127%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.37	−0.280%	$20K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+0.867%	$23K	$361	12x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0061%	1h	311.84	−0.128%	$20K	$1.5M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.02	−0.071%	$35K	$564K	20x	as long as short
Pacifica TAOlong	+0.0100%	1h	312.24	long leg	$370K	$363K	10x
Binance TAOUSDT	+0.0100%	4h	312.01	−0.074%	$88.5M	$427.2M	75x	as long as short
Bybit TAOUSDTshort	+0.0100%	4h	312.19	−0.017%	$61.2M	$125.1M	50x
OKX TAO-USDT-SWAP	+0.0100%	8h	312.00	−0.078%	$25.1M	$101.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	311.90	−0.110%	$12.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.05	−0.061%	$110.1M	$130.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.17	−0.023%	$18.5M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.83	−0.132%	$34.8M	$46.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.00	−0.078%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.93	+0.541%	$41K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.92	+0.537%	$521K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.77	+0.489%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.81	−0.138%	$76K	$489K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.60	−0.205%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	311.86	−0.122%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.38	−0.276%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.64	+0.768%	$127K	$407K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.89	−0.113%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.91	−0.108%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	311.88	−0.116%	$1K	$554K	5x	as long as short
Aster TAOUSDT	+0.0180%	4h	311.95	−0.094%	$1.1M	$7.9M	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	312.34	+0.031%	$82K	$585K	5x	as long as short
Paradex TAO-USD-PERP	+0.0190%	8h	312.11	−0.042%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0199%	4h	312.46	+0.070%	$4.0M	$7.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.32	+0.345%	$4.4M	$10.5M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0450%	1h	311.99	−0.080%	$5.7M	$19.9M	50x	as long as short
Nado TAO-PERP	+0.0454%	1h	312.03	−0.067%	$824K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	311.37	−0.278%	$447K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0519%	1h	312.04	−0.065%	$291K	$804K	10x	as long as short
Phoenix TAO	+0.0537%	1h	314.20	+0.627%	$329K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0616%	1h	312.15	−0.029%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.62	−0.198%	$358	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	311.91	−0.107%	$855K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	312.22	−0.007%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1224%	1h	312.63	+0.123%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	312.10	−0.046%	$435K	$567K	5x	as long as short
Hyperliquid TAO	+0.1722%	1h	312.56	+0.102%	$97.5M	$83.9M	5x	as long as short