Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0028%/8h= +3.0% APRpaid last 24h +0.006%

Price spread now: Deribit against Variational Omni+0.949%7-day average −0.017% · you sell dearer than you buy

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.830%−$83 · spread now +0.949%, 7d avg −0.017%

Together, before fees−0.845%+ Points / potential airdropVariational Omni: Active · farm board−$85 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.965% dearer against Variational Omni than usual: you sell high and buy low: +$97 more if the spread 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	Variational Omni TAO	315.52	0.0557	pay 0.0279% / 4h	17m 40s	$5.5M	$10.2M	—
Short	Deribit TAO_USDC-PERPETUAL	318.51	0.0585	get 0.0073% / 1h	17m 40s	$15K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.949%Rate

Funding earned: $5.8
Price spread: +0.949% → −0.017%: $96.55
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $95.34
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Deribit: live order book, 1 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, 1 min ago	2.87 bp	doesn't fit	9.0 bp −$90	26.0 bp −$2,603	doesn't fit
Sell Deribit live order book, 1 min ago	5.98 bp	9.8 bp −$10	16.3 bp −$163	doesn't fit	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	318.12	+0.825%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0073%	1h	317.94	+0.768%	$127K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.92	+0.761%	$45K	$714K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.10	+0.818%	$26.4M	$131.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.90	+0.754%	$14.7M	$51.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.09	+0.815%	$17.9M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.77	+0.713%	$35.7M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.06	+0.171%	$45K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.73	+0.700%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.21	+0.853%	$2K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	317.76	+0.710%	$116K	$603K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0104% / S +0.0138%	1h	318.13	+0.827%	$406K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	317.72	+0.697%	$2K	$1.1M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	318.55	+0.961%	$175K	$998	3x	as long as short
edgeX TAOUSDC	+0.0165%	4h	315.99	+0.147%	$42K	$319K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0166%	4h	318.49	+0.941%	$52K	$294K	10x	as long as short
MEXC TAO_USDT	+0.0176%	4h	318.20	+0.849%	$103.3M	$152.4M	300x	as long as short
Binance TAOUSDT	+0.0185%	4h	318.08	+0.811%	$92.0M	$531.4M	75x	as long as short
Paradex TAO-USD-PERP	+0.0252%	8h	318.13	+0.826%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0258%	4h	318.11	+0.821%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0260%	4h	318.22	+0.856%	$69.7M	$156.9M	50x	as long as short
Bullet TAO-USD	+0.0283%	1h	318.55	+0.960%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0306%	4h	315.58	+0.019%	$537K	$907K	10x	as long as short
Pacifica TAO	+0.0313%	1h	318.22	+0.856%	$373K	$466K	10x	as long as short
Aster TAOUSDT	+0.0347%	4h	318.24	+0.862%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0376%	1h	317.99	+0.784%	$903K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0417%	4h	317.93	+0.764%	$4.7M	$10.9M	100x	as long as short
Phemex TAOUSDT	+0.0439%	4h	318.23	+0.859%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0459%	1h	317.53	+0.636%	$781K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	318.33	+0.891%	$100K	$384K	5x	as long as short
Lighter TAO	+0.0552%	1h	318.36	+0.899%	$1.6M	$6.9M	5x	as long as short
Variational Omni TAOlong	+0.0557%	4h	315.52	long leg	$5.5M	$10.2M	—
Deribit TAO_USDC-PERPETUALshort	+0.0585%	1h	318.51	+0.949%	$15K	$1.9M	25x
Phoenix TAO	+0.0629%	1h	316.40	+0.279%	$318K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0677%	1h	318.42	+0.919%	$297K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	318.17	+0.840%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	318.23	+0.859%	$366	—	20x	as long as short
Hyperliquid TAO	+0.0714%	1h	318.30	+0.881%	$94.0M	$110.5M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.06	+0.804%	$450K	$655K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0832%	1h	318.61	+0.981%	$6.0M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.99	+0.783%	$1.4M	$7.0M	50x	as long as short
Bulk TAO-USD	+0.1572%	1h	317.17	+0.523%	$169K	$0	10x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	318.80	+1.040%	$23K	$2K	12x	as long as short