Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Bitget against ApeX Omni−0.006%53s7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$510.507% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.597%−$60 · spread now −0.006%, 7d avg −0.073%

Together, before fees−0.606%−$61 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 0.066% dearer against ApeX Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.073%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TAOUSDT	314.97	0.0100	pay 0.0013% / 1h	18m 32s	$46K	$254K	50x
Short	Bitget TAOUSDT	314.95	0.0100	get 0.0050% / 4h	18m 32s	$35.2M	$56.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.006%Rate

Funding earned: $0
Price spread: −0.006% → −0.073%: $6.64
Slippage, 4 orders: −$28.68
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44.04
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 38 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 ApeX Omni live order book, 38 min ago	5.36 bp	12.2 bp −$12	123.0 bp −$1,230	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.27 bp	13.1 bp −$13	24.4 bp −$244	39.9 bp −$3,993	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
dYdX TAO-USD	0.0000%	1h	314.84	−0.041%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.03	+0.020%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.28	+0.097%	$5.5M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.14	+0.054%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.97	0.000%	$645	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.11	+0.044%	$90.9M	$494.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.19	+0.070%	$68.0M	$148.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.10	+0.041%	$26.0M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.00	+0.010%	$12.9M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.12	+0.048%	$110.6M	$144.0M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.96	−0.003%	$17.7M	$31.8M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	314.95	−0.006%	$35.2M	$56.4M	50x
BingX TAO-USDT	+0.0100%	4h	315.13	+0.051%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.64	+0.213%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.78	+0.257%	$522K	$955K	10x	as long as short
ApeX Omni TAOUSDTlong	+0.0100%	1h	314.97	long leg	$46K	$254K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	315.07	+0.032%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.30	+0.105%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.18	+0.067%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.91	−0.019%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.23	+0.083%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.36	+0.123%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0131%	4h	315.18	+0.067%	$57K	$265K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0146% / S +0.0126%	1h	315.09	+0.039%	$420K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0159%	8h	315.33	+0.114%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0189%	4h	315.11	+0.044%	$1.2M	$10.3M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	315.19	+0.071%	$922K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0200%	1h	315.27	+0.096%	$801K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0263%	1h	315.22	+0.079%	$92.7M	$106.4M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0312%	1h	315.28	+0.099%	$26K	$1.7M	25x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	315.41	+0.140%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0328%	1h	315.37	+0.125%	$1.5M	$6.5M	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.15	+0.057%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.49	+0.165%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0347%	1h	315.25	+0.089%	$316K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.14	+0.055%	$360K	$412K	10x	as long as short
Variational Omni TAO	+0.0497%	4h	315.29	+0.101%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.168%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.13	+0.050%	$362	—	20x	as long as short
Bulk TAO-USD	+0.0933%	1h	314.34	−0.200%	$167K	$2K	10x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.20	+0.075%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.17	+0.381%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.232%	$23K	$2K	12x	as long as short