Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0362%/8h= +39.7% APRpaid last 24h −0.371%

Price spread now: Bulk against Variational Omni+0.187%7-day average −0.169% · you sell dearer than you buy

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

Long on Variational Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.447%−$45 on $10k

Price spread, last 4 days (all we have)−0.604%−$60 · spread now +0.187%, 7d avg −0.169%

Together, before fees−1.051%+ Points / potential airdropVariational Omni: Active · farm board−$105 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Bulk is 0.356% dearer against Variational Omni than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of −0.169%. Mind the row above: over the last 4 days funding on this pair cost −0.447%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TAO	318.15	0.0445	pay 0.0223% / 4h	1h 55m	$5.7M	$9.8M	—
Short	Bulk TAO-USD	318.75	0.0807	get 0.0101% / 1h	55m 27s	$169K	$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Variational Omni. 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 Variational OmnibpFee BulkbpOrdersPrice spread, now +0.187%Rate

Funding earned: $76.09
Price spread: +0.187% → −0.169%: $35.64
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $104.73
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bulk: live order book, 56 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 Variational Omni RFQ quote, 2 min ago	2.87 bp	doesn't fit	8.7 bp −$87	doesn't fit	doesn't fit
Sell Bulk live order book, 56 min ago	0.47 bp	5.0 bp −$5	10.7 bp −$107	23.3 bp −$2,326	54.1 bp −$27.0K

TAO on 43 exchanges

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	318.29	+0.043%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.76	−0.124%	$52K	$631K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.70	−0.143%	$26.9M	$128.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.50	−0.206%	$15.8M	$47.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.62	−0.168%	$17.6M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.50	−0.206%	$36.0M	$56.1M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.54	+0.436%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.41	−0.234%	$81K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.68	−0.149%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.96	−0.061%	$113K	$563K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	317.93	−0.070%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	317.67	−0.152%	$896	$1.3M	5x	as long as short
Bybit TAOUSDT	+0.0106%	4h	317.78	−0.118%	$69.6M	$155.5M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	318.05	−0.031%	$175K	$998	3x	as long as short
Binance TAOUSDT	+0.0146%	4h	317.82	−0.105%	$93.4M	$511.6M	75x	as long as short
MEXC TAO_USDT	+0.0150%	4h	317.77	−0.121%	$103.6M	$146.8M	300x	as long as short
BingX TAO-USDT	+0.0152%	4h	317.77	−0.121%	—	$37.9M	—	as long as short
edgeX TAOUSDC	+0.0153%	4h	318.61	+0.143%	$42K	$322K	10x	as long as short
Bullet TAO-USD	+0.0208%	1h	317.85	−0.096%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0211%	8h	317.98	−0.054%	$14K	$876	10x	as long as short
Extended TAO-USD	+0.0224%	1h	317.72	−0.136%	$959K	$2.1M	25x	as long as short
Pacifica TAO	+0.0240%	1h	317.90	−0.080%	$376K	$456K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0256%	4h	317.67	−0.152%	$53K	$262K	10x	as long as short
Lighter TAO	+0.0272%	1h	317.97	−0.058%	$1.6M	$6.6M	5x	as long as short
GRVT TAO_USDT_Perp	+0.0286%	4h	318.50	+0.109%	$543K	$805K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0315%	1h	317.92	−0.074%	$15K	$1.9M	25x	as long as short
Aster TAOUSDT	+0.0318%	4h	317.87	−0.090%	$1.3M	$11.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0361% / S −0.0107%	1h	317.64	−0.163%	$373K	—	100x	as long as short
Nado TAO-PERP	+0.0390%	1h	317.83	−0.103%	$702K	$2.0M	10x	as long as short
BloFin TAO-USDT	+0.0393%	4h	318.71	+0.175%	$4.9M	$10.4M	100x	as long as short
Variational Omni TAOlong	+0.0445%	4h	318.15	long leg	$5.7M	$9.8M	—
Hyperliquid TAO	+0.0454%	1h	317.83	−0.102%	$95.8M	$107.3M	5x	as long as short
dYdX TAO-USD	+0.0493%	1h	317.53	−0.197%	$268K	$230K	5x	as long as short
Phoenix TAO	+0.0567%	1h	319.60	+0.455%	$321K	$710K	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	318.10	−0.017%	$100K	$311K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0627%	1h	318.00	−0.048%	$299K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	318.13	−0.009%	$433K	$685K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	319.02	+0.272%	$1.1M	$7.7M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	317.69	−0.144%	$365	—	20x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	317.87	−0.089%	$3K	$2K	5x	as long as short
Bulk TAO-USDshort	+0.0807%	1h	318.75	+0.187%	$169K	$0	10x
Kraken Futures PF_TAOUSD	+0.0926%	1h	318.02	−0.042%	$6.2M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	322.67	+1.419%	$23K	$2K	12x	as long as short