Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Gate against Aevo−0.240%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$251as in the Funding arb table

Net, price: spread back to 7d avg − costs−$264as in the Price arb table

costs, in and out, $10k−$2472.474% of the position

Long on Aevo Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 3 days (all we have)+0.197%+$20 · spread now −0.240%, 7d avg −0.074%

Together, before fees+0.158%+$16 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: Gate is 0.166% cheaper against Aevo than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	315.16	0.0104	pay 0.0013% / 1h	57m 24s	$173K	$998	3x
Short	Gate TAO_USDT	314.40	0.0100	get 0.0050% / 4h	1h 57m	$12.9M	$49.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.240%Rate

Funding earned: −$0.84
Price spread: −0.240% → −0.074%: −$16.6
Slippage, 4 orders: −$216.37
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$264.82
Costs to cover: 2.474%
Break-even: never at this rate

Slippage from Aevo: live order book, 6 min ago; Gate: live order book, 1 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, 6 min ago	80.37 bp	106.9 bp −$107	640.0 bp −$6,400	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.17 bp	15.8 bp −$16	30.1 bp −$301	67.2 bp −$6,723	132.9 bp −$66.5K

TAO on 42 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	−0.0185%	1h	315.28	+0.039%	$167K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.99	−0.370%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0001%	1h	314.63	−0.167%	$16K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.90	−0.399%	$45K	$646K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.96	−0.063%	$91.0M	$466.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.90	−0.082%	$26.0M	$114.0M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	314.40	−0.240%	$12.9M	$49.0M	50x
MEXC TAO_USDT	+0.0100%	4h	314.66	−0.158%	$103.2M	$137.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.85	−0.415%	$17.9M	$30.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.63	−0.167%	$35.2M	$53.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.02	+0.591%	$36K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.31	−0.269%	$75K	$722K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.83	−0.104%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.68	−0.151%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.75	−0.129%	$129K	$474K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.74	−0.132%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	315.16	long leg	$173K	$998	3x
Katana Perps TAO-USD	+0.0114%	8h	314.09	−0.339%	$2K	$730K	5x	as long as short
ApeX Omni TAOUSDT	+0.0148%	1h	316.61	+0.461%	$47K	$252K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0165% / S +0.0104%	1h	314.66	−0.157%	$426K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0192%	4h	317.15	+0.633%	$527K	$957K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.04	−0.038%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0281%	4h	314.07	−0.344%	$1.2M	$9.3M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0330%	1h	314.84	−0.102%	$14K	$1.6M	25x	as long as short
Bullet TAO-USD	+0.0345%	1h	315.08	−0.024%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0346%	8h	314.38	−0.247%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0448%	1h	314.55	−0.193%	$372K	$393K	10x	as long as short
Arcus TAO-USD	+0.0509%	1h	314.59	−0.180%	$99K	$489K	5x	as long as short
Phoenix TAO	+0.0588%	1h	316.10	+0.299%	$332K	$707K	5x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	314.46	−0.221%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.56	−0.190%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0720%	4h	314.84	−0.101%	—	$30.3M	—	as long as short
Backpack TAO_USDC_PERP	+0.0725%	1h	314.92	−0.075%	$318K	$802K	10x	as long as short
Bybit TAOUSDT	+0.0738%	4h	315.13	−0.009%	$66.9M	$138.2M	50x	as long as short
Variational Omni TAO	+0.0848%	4h	316.96	+0.572%	$6.1M	$9.5M	—	as long as short
Extended TAO-USD	+0.0888%	1h	314.14	−0.322%	$891K	$2.3M	25x	as long as short
Lighter TAO	+0.0928%	1h	315.02	−0.042%	$1.6M	$6.1M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.13	+0.626%	$1.5M	$6.4M	50x	as long as short
Nado TAO-PERP	+0.1032%	1h	314.30	−0.271%	$752K	$2.1M	10x	as long as short
Hyperliquid TAO	+0.1127%	1h	314.56	−0.189%	$98.9M	$97.5M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	314.39	−0.242%	$445K	$626K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.835%	$23K	$2K	12x	as long as short