Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Orderly against ApeX Omni−0.070%70s7-day average −0.005% · you buy dearer than you sell

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

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 3 days (all we have)+0.186%+$19 · spread now −0.070%, 7d avg −0.005%

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 0.065% cheaper against ApeX Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.005%. The two prices were read 70 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	315.68	0.0100	pay 0.0013% / 1h	18m 20s	$47K	$252K	50x
Short	Orderly PERP_TAO_USDC	315.46	0.0100	get 0.0050% / 4h	2h 18m	$57K	$282K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → −0.005%: −$6.5
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$22.5
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 49 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 ApeX Omni live order book, 49 min ago	5.51 bp	12.7 bp −$13	108.4 bp −$1,084	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 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
dYdX TAO-USD	0.0000%	1h	315.35	−0.106%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.21	−0.148%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.71	−0.307%	$43K	$634K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.57	−0.035%	$90.6M	$467.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.50	−0.057%	$26.0M	$113.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	−0.152%	$12.9M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.40	−0.089%	$111.6M	$139.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.12	−0.177%	$18.0M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.72	+0.013%	$35.2M	$53.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.73	+0.016%	$35K	$300K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDTlong	+0.0100%	1h	315.68	long leg	$47K	$252K	50x
Orderly PERP_TAO_USDCshort	+0.0100%	4h	315.46	−0.070%	$57K	$282K	10x
SunX TAO-USDT	+0.0100%	4h	314.41	−0.402%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.84	−0.266%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.06	−0.196%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.79	+0.035%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	314.77	−0.288%	$1K	$711K	5x	as long as short
Polymarket Perps TAO-USD	+0.0119%	1h	315.02	−0.209%	$80K	$681K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0167%	1h	315.35	−0.103%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0099%	1h	315.24	−0.138%	$431K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0174%	4h	317.11	+0.454%	$523K	$954K	10x	as long as short
Bullet TAO-USD	+0.0247%	1h	315.65	−0.010%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0254%	4h	314.93	−0.238%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	315.68	0.000%	$371K	$384K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.26	−0.133%	$99K	$529K	5x	as long as short
Paradex TAO-USD-PERP	+0.0363%	8h	315.69	+0.002%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	318.67	+0.947%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0528%	1h	315.05	−0.200%	$786K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	317.30	+0.513%	$332K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	315.01	−0.212%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.21	−0.148%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0780%	4h	315.60	−0.025%	—	$30.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0811%	1h	315.99	+0.099%	$22K	$1.5M	25x	as long as short
Bybit TAOUSDT	+0.0823%	4h	315.63	−0.016%	$66.3M	$138.0M	50x	as long as short
Variational Omni TAO	+0.0845%	4h	315.73	+0.015%	$5.5M	$8.9M	—	as long as short
Extended TAO-USD	+0.0920%	1h	315.09	−0.187%	$905K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0926%	1h	315.60	−0.025%	$319K	$810K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.39	+0.225%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	314.70	−0.310%	$449K	$631K	5x	as long as short
Hyperliquid TAO	+0.1330%	1h	315.72	+0.013%	$100.3M	$95.1M	5x	as long as short
Lighter TAO	+0.1424%	1h	316.16	+0.151%	$1.7M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−2.133%	$164K	$40K	10x	as long as short