Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.007%

Price spread now: Bybit against Aevo−0.141%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1591.594% of the position

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.141%, 7d avg −0.009%

Together, before fees−0.013%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.132% cheaper against Aevo than usual: you would sell low and buy high (spread −0.141% now, against its 7-day average of −0.009%). If the spread goes back, that is −$13 on $10k: about 2.8 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.004% in total) that is about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	313.95	0.0120	pay 0.0015% / 1h	31m 59s	$172K	$998	3x
Short	Bybit TAOUSDT	313.51	0.0277	get 0.0139% / 4h	3h 31m	$68.7M	$155.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.141%Rate

Funding earned: $33
Price spread: −0.141% → −0.009%: −$13.2
Slippage, 4 orders: −$132.39
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$139.59
Costs to cover: 1.594%
Break-even: 36.6 days

Slippage from Aevo: live order book, 67 min ago; Bybit: live order book, 2 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, 67 min ago	53.11 bp	63.2 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.16 bp	9.0 bp −$9	17.6 bp −$176	37.8 bp −$3,781	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 −0.0003%	1h	313.52	−0.137%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.36	+0.130%	$50K	$700K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	314.43	+0.152%	$1K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.40	−0.176%	$26.2M	$128.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.60	−0.112%	$14.9M	$49.5M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.79	−0.052%	$17.7M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.29	−0.211%	$35.3M	$57.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.14	+0.060%	$86K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.33	−0.198%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.25	−0.224%	$115K	$588K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	313.71	−0.077%	$3.1M	$8.1M	50x	as long as short
Aevo TAO-PERPlong	+0.0120%	1h	313.95	long leg	$172K	$998	3x
ApeX Omni TAOUSDT	+0.0124%	1h	315.68	+0.550%	$45K	$257K	50x	as long as short
Bulk TAO-USD	+0.0125%	1h	316.13	+0.694%	$168K	$0	10x	as long as short
Binance TAOUSDT	+0.0140%	4h	313.39	−0.179%	$91.3M	$525.7M	75x	as long as short
MEXC TAO_USDT	+0.0142%	4h	313.88	−0.023%	$104.7M	$152.1M	300x	as long as short
GRVT TAO_USDT_Perp	+0.0144%	4h	315.40	+0.461%	$540K	$876K	10x	as long as short
edgeX TAOUSDC	+0.0147%	4h	315.34	+0.443%	$42K	$321K	10x	as long as short
dYdX TAO-USD	+0.0189%	1h	314.48	+0.168%	$126K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0212%	4h	314.12	+0.053%	$53K	$298K	10x	as long as short
Bullet TAO-USD	+0.0220%	1h	313.67	−0.089%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0238%	8h	314.70	+0.237%	$14K	$876	10x	as long as short
Bybit TAOUSDTshort	+0.0277%	4h	313.51	−0.141%	$68.7M	$155.0M	50x
Aster TAOUSDT	+0.0306%	4h	313.52	−0.138%	$1.2M	$11.1M	50x	as long as short
BingX TAO-USDT	+0.0308%	4h	313.48	−0.150%	—	$37.5M	—	as long as short
Extended TAO-USD	+0.0336%	1h	313.80	−0.048%	$888K	$2.3M	25x	as long as short
Pacifica TAO	+0.0349%	1h	314.63	+0.216%	$369K	$440K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	313.53	−0.135%	$369K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0379%	1h	313.73	−0.070%	$15K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0383%	4h	314.59	+0.203%	$4.8M	$10.7M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	314.77	+0.260%	$99K	$362K	5x	as long as short
Nado TAO-PERP	+0.0491%	1h	313.94	−0.005%	$760K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0504%	1h	313.94	−0.004%	$92.2M	$109.0M	5x	as long as short
Phoenix TAO	+0.0578%	1h	315.80	+0.588%	$318K	$714K	5x	as long as short
Lighter TAO	+0.0584%	1h	314.10	+0.047%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0600%	1h	314.59	+0.203%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0614%	4h	315.43	+0.472%	$5.6M	$10.1M	—	as long as short
Backpack TAO_USDC_PERP	+0.0673%	1h	313.59	−0.115%	$309K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	313.83	−0.039%	$361	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0793%	1h	313.84	−0.037%	$5.9M	$21.1M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	314.48	+0.169%	$435K	$681K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	313.88	−0.023%	$1.1M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	318.23	+1.362%	$23K	$2K	12x	as long as short