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Price arb /

TAO

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Spread before costs (cost unknown: a leg has no order-book sample)−0.024%
7d average−0.017%if it closes, per $10,000$2funding while held, a day−$12.71
Long on BackpackShort on Deribit
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack TAO_USDC_PERP282.760.0457pay 0.0057% / 1h32m 25s$395K$500K10x
ShortDeribit TAO_USDC-PERPETUAL282.690.0033get 0.0004% / 1h32m 25s$33K$955K25x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$2.37
Funding while held
−$12.71
Slippage, 4 orders
no order book: not counted
Fee Backpack: 5 bp × 2 orders
−$10
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$32.08
Spread needed to break even
0.170%
Slippage unknown: Backpack: live order book, 3 min ago; Deribit: live order book, 3 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0424%
Per $10,000 a day
−$12.71
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 3 min ago0.18 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Deribit live order book, 3 min ago5.84 bp9.7 bp −$10doesn't fitdoesn't fitdoesn't fit

TAO price on every exchange

against the cheapest. Click to use as the short leg.
HTX281.72cheapestGate282.30+0.206%Bitget282.47+0.266%OKX282.50+0.277%BingX282.50+0.277%Extended282.50+0.279%MEXC282.52+0.284%Reya282.53+0.289%Pacifica282.54+0.292%Phemex282.55+0.295%BloFin282.55+0.295%Paradex282.56+0.297%Polymarket Perps282.58+0.305%Binance282.59+0.309%Aster282.60+0.312%Bybit282.60+0.312%Popdex282.60+0.312%Orderly282.60+0.312%KuCoin282.61+0.316%GMX282.61+0.316%dYdX282.63+0.323%SunX282.63+0.323%Bullet282.64+0.328%Nado282.65+0.329%Katana Perps282.65+0.330%edgeX282.68+0.340%
Deribit282.69+0.345%
gTrade (Gains Network)282.69+0.346%Lighter282.71+0.350%Kraken Futures282.71+0.352%ApeX Omni282.72+0.355%Aevo282.73+0.359%
Backpack282.76+0.369%
RISEx282.82+0.390%Hyperliquid282.86+0.405%Arcus282.86+0.405%Bulk282.95+0.437%01 Exchange282.96+0.440%Variational Omni283.05+0.474%Phoenix283.10+0.490%Coinbase International283.60+0.667%Injective286.08+1.548%

TAO on 42 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
HTX TAO-USDT−0.368%+0.0100%4h$116K$323K20xas long as short
Gate TAO_USDT−0.163%+0.0100%4h$11.1M$43.6M50xas long as short
Bitget TAOUSDT−0.103%+0.0100%4h$31.8M$35.8M50xas long as short
OKX TAO-USDT-SWAP−0.092%+0.0100%8h$22.3M$66.9M50xas long as short
BingX TAO-USDT−0.092%+0.0100%4h—$28.8M—as long as short
Extended TAO-USD−0.090%+0.0104%1h$754K$1.3M25xas long as short
MEXC TAO_USDT−0.085%+0.0100%4h$101.1M$103.1M300xas long as short
Reya TAORUSDPERP−0.080%+0.0693%1h$325—20xas long as short
Pacifica TAO−0.077%+0.0100%1h$327K$373K10xas long as short
Phemex TAOUSDT−0.074%+0.0100%4h$3.0M$7.5M50xas long as short
Show all 42 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
BloFin TAO-USDT−0.074%+0.0340%4h$3.9M$7.0M100xas long as short
Paradex TAO-USD-PERP−0.072%+0.0102%8h$13K$37610xas long as short
Polymarket Perps TAO-USD−0.064%+0.0100%1h$80K$599K5xas long as short
Binance TAOUSDT−0.060%+0.0100%4h$75.8M$323.5M75xas long as short
Aster TAOUSDT−0.057%+0.0100%4h$1.6M$4.8M50xas long as short
Bybit TAOUSDT−0.057%+0.0100%4h$49.0M$84.6M50xas long as short
Popdex TAOUSDT−0.057%+0.0096%1h$40K$455K20xas long as short
Orderly PERP_TAO_USDC−0.057%+0.0100%4h$55K$196K10xas long as short
KuCoin TAOUSDTM−0.053%+0.0100%4h$16.8M$19.7M75xas long as short
GMX TAO/USD [WBTC.b-USDC]−0.053%L +0.0476% / S −0.0199%1h$430K—100xas long as short
dYdX TAO-USD−0.046%0.0000%1h$72K$35K5xas long as short
SunX TAO-USDT−0.046%+0.0100%4h$2K$1.6M20xas long as short
Bullet TAO-USD−0.041%+0.0100%1h$10K$17K20xas long as short
Nado TAO-PERP−0.040%+0.0100%1h$992K$1.2M10xas long as short
Katana Perps TAO-USD−0.039%+0.0100%8h$901$310K5xas long as short
edgeX TAOUSDC−0.029%+0.0100%4h$37K$271K10xas long as short
Deribit TAO_USDC-PERPETUALshort−0.024%+0.0033%1h$33K$955K25x
gTrade (Gains Network) TAO/USD−0.023%L +0.0004% / S −0.0015%1h$21K—150xas long as short
Lighter TAO−0.019%+0.0096%1h$1.3M$2.1M5xas long as short
Kraken Futures PF_TAOUSD−0.017%−0.0383%1h$5.1M$13.6M50xas long as short
ApeX Omni TAOUSDT−0.014%+0.0100%1h$43K$266K50xas long as short
Aevo TAO-PERP−0.011%+0.0104%1h$155K$9983xas long as short
Backpack TAO_USDC_PERPlong0.000%+0.0457%1h$395K$500K10x
RISEx TAO/USDC+0.021%+0.0633%1h$316K$441K5xas long as short
Hyperliquid TAO+0.035%+0.0411%1h$77.6M$53.4M5xas long as short
Arcus TAO-USD+0.035%+0.0100%1h$124K$579K5xas long as short
Bulk TAO-USD+0.067%−0.0265%1h$184K$36K10xas long as short
01 Exchange TAOUSD+0.071%+0.0288%1h$3K$4K5xas long as short
Variational Omni TAO+0.104%+0.0100%4h$2.8M$5.2M—as long as short
Phoenix TAO+0.120%+0.0456%1h$301K$160K5xas long as short
Coinbase International TAO-PERP-INTX+0.297%+0.0896%1h$1.4M$3.8M50xas long as short
Injective TAO/USDC PERP+1.174%+0.3836%1h$21K$59K12xas long as short