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 −0.001%

Price spread now: Orderly against Aevo−0.078%7-day average −0.031% · you buy dearer than you sell

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

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.130%−$13 on $10k

Price spread, last 3 days (all we have)+0.081%+$8 · spread now −0.078%, 7d avg −0.031%

Together, before fees−0.049%−$5 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: Orderly is 0.047% cheaper against Aevo than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo TAO-PERP	317.49	0.0104	pay 0.0013% / 1h	3m 33s	$174K	$998	3x
Short	Orderly PERP_TAO_USDC	317.24	0.0100	get 0.0050% / 4h	3h 03m	$57K	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.078%Rate

Funding earned: −$0.84
Price spread: −0.078% → −0.031%: −$4.72
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$27.56
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 5 min ago; Orderly: no order-book sample. 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 Aevo live order book, 5 min ago	75.44 bp	99.6 bp −$100	608.4 bp −$6,084	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1228%	1h	316.14	−0.425%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.55	−0.925%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	316.94	−0.174%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.85	−0.831%	$43K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.73	−0.868%	$90.2M	$452.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	−0.847%	$25.6M	$108.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.20	−1.036%	$12.8M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.44	−0.960%	$100.2M	$137.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.68	−0.885%	$17.8M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.14	−1.055%	$35.0M	$51.6M	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	317.06	−0.136%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.35	−0.358%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	317.24	−0.078%	$57K	$316K	10x
SunX TAO-USDT	+0.0100%	4h	317.27	−0.069%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.38	−0.034%	$127K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0103%	4h	317.37	−0.037%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERPlong	+0.0104%	1h	317.49	long leg	$174K	$998	3x
Bullet TAO-USD	+0.0105%	1h	317.35	−0.043%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0117%	1h	316.47	−0.321%	$48K	$267K	50x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	314.82	−0.840%	$1K	$647K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	316.91	−0.182%	$450K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	314.69	−0.881%	$373K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	314.88	−0.822%	$83K	$550K	5x	as long as short
Aster TAOUSDT	+0.0204%	4h	315.02	−0.776%	$1.2M	$8.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	314.64	−0.896%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0267%	1h	317.77	+0.089%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0275%	1h	317.11	−0.120%	$17K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.47	−0.321%	$4.4M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0484%	1h	317.05	−0.139%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.00	−0.154%	$332K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	315.19	−0.724%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.46	+0.936%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	−0.224%	$5.5M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.52	+0.011%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	314.44	−0.960%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0752%	4h	315.04	−0.771%	$64.9M	$133.8M	50x	as long as short
Nado TAO-PERP	+0.0754%	1h	314.80	−0.847%	$779K	$2.1M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0800%	1h	317.11	−0.119%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.25	−0.075%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1104%	1h	314.44	−0.961%	$879K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	314.67	−0.887%	$418K	$593K	5x	as long as short
Lighter TAO	+0.1400%	1h	315.40	−0.657%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1745%	1h	315.23	−0.711%	$100.8M	$91.7M	5x	as long as short