Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: Bitget against Aevo−0.210%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1241.238% of the position

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.179%+$18 · spread now −0.210%, 7d avg −0.077%

Together, before fees+0.180%+$18 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: Bitget is 0.133% cheaper against Aevo than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	319.80	0.0104	pay 0.0013% / 1h	33m 53s	$176K	$998	3x
Short	Bitget TAOUSDT	319.13	0.0100	get 0.0050% / 4h	3h 33m	$35.6M	$50.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aevo. 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 AevobpFee BitgetbpOrdersPrice spread, now −0.210%Rate

Funding earned: −$0.84
Price spread: −0.210% → −0.077%: −$13.28
Slippage, 4 orders: −$95.81
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$137.93
Costs to cover: 1.238%
Break-even: never at this rate

Slippage from Aevo: live order book, 40 min ago; Bitget: live order book, 5 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 Aevo live order book, 40 min ago	34.18 bp	48.7 bp −$49	299.5 bp −$2,995	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.26 bp	12.2 bp −$12	21.0 bp −$210	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
Bulk TAO-USD	−0.1322%	1h	319.84	+0.013%	$170K	$44K	10x	as long as short
Phemex TAOUSDT	−0.1078%	4h	319.49	−0.097%	$3.4M	$7.9M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	320.67	+0.272%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.34	−0.143%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.41	+0.191%	$42K	$587K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.11	−0.216%	$91.9M	$446.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.40	+0.188%	$26.2M	$109.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.00	−0.250%	$12.9M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.17	−0.197%	$107.9M	$134.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.11	−0.216%	$18.2M	$29.1M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDTshort	+0.0100%	4h	319.13	−0.210%	$35.6M	$50.3M	50x
edgeX TAOUSDC	+0.0100%	4h	318.20	−0.499%	$40K	$292K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.52	−1.025%	$524K	$960K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	319.55	−0.078%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.38	−0.131%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.62	−0.056%	$128K	$424K	20x	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	319.80	long leg	$176K	$998	3x
Katana Perps TAO-USD	+0.0119%	8h	320.43	+0.197%	$2K	$616K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0135%	1h	319.58	−0.068%	$18K	$1.6M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0089%	1h	319.27	−0.167%	$466K	—	100x	as long as short
Bullet TAO-USD	+0.0177%	1h	319.84	+0.013%	$12K	$18K	20x	as long as short
Pacifica TAO	+0.0185%	1h	321.07	+0.397%	$380K	$374K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	321.48	+0.525%	$85K	$550K	5x	as long as short
Aster TAOUSDT	+0.0237%	4h	319.44	−0.114%	$1.1M	$8.3M	50x	as long as short
Paradex TAO-USD-PERP	+0.0243%	8h	321.22	+0.444%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	319.99	+0.059%	$4.5M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0344%	1h	319.23	−0.178%	$48K	$266K	50x	as long as short
Polymarket Perps TAO-USD	+0.0349%	1h	320.24	+0.138%	$94K	$638K	5x	as long as short
Variational Omni TAO	+0.0398%	4h	320.33	+0.164%	$5.6M	$8.7M	—	as long as short
BingX TAO-USDT	+0.0428%	4h	319.16	−0.200%	—	$30.5M	—	as long as short
Bybit TAOUSDT	+0.0450%	4h	319.36	−0.138%	$65.6M	$133.0M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0479%	1h	319.72	−0.026%	$5.8M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.50	−0.719%	$332K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	319.79	−0.003%	$23K	$666	12x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	321.22	+0.444%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	319.63	−0.053%	$368	—	20x	as long as short
Nado TAO-PERP	+0.0757%	1h	319.71	−0.029%	$893K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0899%	1h	319.89	+0.028%	$323K	$819K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	320.73	+0.291%	$1.5M	$6.3M	50x	as long as short
Extended TAO-USD	+0.1136%	1h	319.18	−0.195%	$936K	$2.2M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	321.13	+0.416%	$427K	$600K	5x	as long as short
Lighter TAO	+0.1488%	1h	320.15	+0.111%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2345%	1h	319.94	+0.044%	$103.4M	$90.7M	5x	as long as short