Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h −0.004%

Price spread now: Variational Omni against Arcus−0.058%7-day average −0.017% · you buy dearer than you sell

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.058%, 7d avg −0.017%

Together, before fees+0.086%+ Points / potential airdropVariational Omni: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.041% cheaper against Arcus than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of −0.017%). If the spread goes back, that is −$4 on $10k: about 21 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	315.47	0.0345	pay 0.0043% / 1h	19m 18s	$99K	$438K	5x
Short	Variational Omni TAO	315.29	0.0497	get 0.0249% / 4h	19m 18s	$5.7M	$9.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Arcus. 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 ArcusbpFee Variational OmnibpOrdersPrice spread, now −0.058%Rate

Funding earned: $31.92
Price spread: −0.058% → −0.017%: −$4.07
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $23.35
Costs to cover: 0.045%
Break-even: 1.9 days

Slippage unknown: Arcus: live order book, 39 min ago; Variational Omni: RFQ quote, 5 min ago. 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 Arcus live order book, 39 min ago	9.98 bp	12.3 bp −$12	21.7 bp −$217	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.87 bp	doesn't fit	18.0 bp −$180	doesn't fit	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	−0.201%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.03	−0.139%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.28	−0.062%	$5.5M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.28	−0.060%	$43K	$669K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.14	−0.105%	$645	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.30	−0.054%	$91.0M	$494.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.38	−0.029%	$68.1M	$148.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.30	−0.054%	$26.0M	$120.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.00	−0.149%	$13.0M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.22	−0.079%	$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	315.04	−0.136%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.07	−0.127%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.20	−0.086%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.64	+0.054%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.78	+0.098%	$522K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.97	−0.158%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.07	−0.127%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.30	−0.054%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.18	−0.092%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.91	−0.178%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.23	−0.076%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.36	−0.035%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0131%	4h	315.18	−0.092%	$57K	$265K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0146% / S +0.0126%	1h	315.09	−0.120%	$420K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0160%	8h	315.11	−0.115%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0192%	4h	315.12	−0.111%	$1.2M	$10.3M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	315.18	−0.091%	$922K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0200%	1h	315.27	−0.063%	$801K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0263%	1h	315.44	−0.010%	$92.8M	$106.4M	5x	as long as short
01 Exchange TAOUSD	+0.0312%	1h	315.47	0.000%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0312%	1h	315.28	−0.059%	$26K	$1.7M	25x	as long as short
Lighter TAO	+0.0320%	1h	315.22	−0.079%	$1.5M	$6.5M	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.18	−0.092%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USDlong	+0.0345%	1h	315.47	long leg	$99K	$438K	5x
Backpack TAO_USDC_PERP	+0.0348%	1h	315.00	−0.149%	$316K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.01	−0.145%	$359K	$412K	10x	as long as short
Variational Omni TAOshort	+0.0497%	4h	315.29	−0.058%	$5.7M	$9.9M	—
Phoenix TAO	+0.0581%	1h	315.50	+0.010%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.13	−0.109%	$362	—	20x	as long as short
Bulk TAO-USD	+0.0933%	1h	314.34	−0.358%	$167K	$2K	10x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.28	−0.059%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.17	+0.222%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.071%	$23K	$2K	12x	as long as short