Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0625%/8h= −68.5% APRpaid last 24h +0.103%

Price spread now: Kraken Futures against Variational Omni−0.035%7-day average +0.002% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.220%+$22 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.035%, 7d avg +0.002%

Together, before fees+0.327%+ Points / potential airdropVariational Omni: Active · farm board+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Kraken Futures is 0.036% cheaper against Variational Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.002%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.220%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TAO	323.85	0.0868	pay 0.0434% / 4h	1h 27m	$6.0M	$9.8M	—
Short	Kraken Futures PF_TAOUSD	323.74	0.0242	get 0.0030% / 1h	27m 25s	$5.7M	$20.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$131.34
Price spread: −0.035% → +0.002%: −$3.64
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$144.98
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Kraken Futures: 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 Variational Omni RFQ quote, 2 min ago	2.88 bp	doesn't fit	13.9 bp −$139	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	10.66 bp	18.8 bp −$19	33.7 bp −$337	114.2 bp −$11.4K	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	−0.5583%	1h	316.49	−2.272%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	323.14	−0.219%	$129K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	322.43	−0.438%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.93	−0.284%	$34K	$676K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	322.73	−0.344%	$94.4M	$479.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	322.70	−0.355%	$26.6M	$119.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.00	−0.262%	$13.2M	$49.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	322.94	−0.281%	$100.3M	$141.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.86	−0.305%	$18.1M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.71	−0.352%	$36.1M	$54.6M	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	323.11	−0.229%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.77	−0.333%	$87K	$792K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.49	−0.111%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	323.73	−0.037%	$131K	$482K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.66	−0.058%	$3.5M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	323.86	+0.004%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	323.68	−0.052%	$58K	$282K	10x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	323.16	−0.213%	$687	$776K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0160% / S +0.0125%	1h	323.56	−0.089%	$449K	—	100x	as long as short
Kraken Futures PF_TAOUSDshort	+0.0242%	1h	323.74	−0.035%	$5.7M	$20.6M	50x
GRVT TAO_USDT_Perp	+0.0254%	4h	323.03	−0.253%	$536K	$964K	10x	as long as short
Bullet TAO-USD	+0.0276%	1h	322.80	−0.324%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0305%	8h	323.30	−0.171%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	322.64	−0.373%	$4.6M	$11.2M	100x	as long as short
Aster TAOUSDT	+0.0371%	4h	323.15	−0.216%	$1.1M	$9.6M	50x	as long as short
Pacifica TAO	+0.0448%	1h	323.55	−0.092%	$383K	$402K	10x	as long as short
Phoenix TAO	+0.0504%	1h	324.30	+0.139%	$339K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	323.33	−0.160%	$101K	$487K	5x	as long as short
BingX TAO-USDT	+0.0558%	4h	322.64	−0.373%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0563%	4h	322.89	−0.296%	$70.7M	$143.7M	50x	as long as short
Nado TAO-PERP	+0.0572%	1h	322.89	−0.296%	$791K	$2.2M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0685%	1h	323.84	−0.002%	$21K	$1.6M	25x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	322.79	−0.327%	$371	—	20x	as long as short
ApeX Omni TAOUSDT	+0.0723%	1h	323.82	−0.009%	$48K	$253K	50x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	323.51	−0.105%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0848%	1h	322.93	−0.283%	$949K	$2.3M	25x	as long as short
Variational Omni TAOlong	+0.0868%	4h	323.85	long leg	$6.0M	$9.8M	—
Lighter TAO	+0.0912%	1h	323.94	+0.029%	$1.6M	$6.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	324.38	+0.164%	$1.5M	$6.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1062%	1h	323.84	−0.003%	$445K	$860K	10x	as long as short
RISEx TAO/USDC	+0.1159%	1h	323.15	−0.214%	$468K	$647K	5x	as long as short
Hyperliquid TAO	+0.1260%	1h	323.18	−0.206%	$101.7M	$99.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	323.37	−0.148%	$24K	$2K	12x	as long as short