Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Deribit against Bitget+0.252%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 3 days (all we have)−0.174%−$17 · spread now +0.252%, 7d avg +0.060%

Together, before fees−0.377%−$38 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: Deribit is 0.192% dearer against Bitget than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	307.76	0.0100	pay 0.0050% / 4h	2h 43m	$34.3M	$52.4M	50x
Short	Deribit TAO_USDC-PERPETUAL	308.53	0.0096	get 0.0012% / 1h	43m 04s	$15K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now +0.252%Rate

Funding earned: −$0.84
Price spread: +0.252% → +0.060%: $19.18
Slippage, 4 orders: −$30
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$30.65
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Deribit: live order book, 1 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 Bitget live order book, 1 min ago	0.65 bp	10.7 bp −$11	23.7 bp −$237	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	4.52 bp	14.8 bp −$15	doesn't fit	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	308.91	+0.374%	$123K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	308.57	+0.263%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.19	+0.465%	$46K	$605K	20x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0096%	1h	308.53	+0.252%	$15K	$1.5M	25x
Binance TAOUSDT	+0.0100%	4h	307.12	−0.207%	$88.6M	$458.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.10	−0.214%	$25.1M	$107.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	308.10	+0.110%	$12.5M	$49.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.43	+0.218%	$101.4M	$136.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.51	+0.244%	$17.9M	$30.0M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	307.76	long leg	$34.3M	$52.4M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	309.63	+0.606%	$34K	$300K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.02	+0.410%	$515K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.89	+0.692%	$46K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.47	+0.231%	$56K	$284K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.86	+0.357%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.08	+0.429%	$127K	$470K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	309.75	+0.647%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	309.36	+0.520%	$1K	$674K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0092%	1h	308.63	+0.283%	$426K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0171%	1h	308.45	+0.225%	$5.5M	$20.3M	50x	as long as short
Aster TAOUSDT	+0.0172%	4h	308.58	+0.266%	$1.3M	$9.1M	50x	as long as short
Bullet TAO-USD	+0.0241%	1h	309.08	+0.430%	$12K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0262%	1h	309.06	+0.422%	$77K	$643K	5x	as long as short
Paradex TAO-USD-PERP	+0.0274%	8h	309.34	+0.512%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	309.31	+0.504%	$365K	$378K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	309.48	+0.559%	$82K	$551K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+1.105%	$4.4M	$10.7M	100x	as long as short
Phemex TAOUSDT	+0.0412%	4h	308.20	+0.143%	$3.4M	$8.0M	50x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+2.557%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0573%	1h	308.96	+0.392%	$756K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	309.80	+0.663%	$324K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	309.75	+0.647%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0696%	4h	309.05	+0.418%	$5.4M	$8.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	309.01	+0.406%	$355	—	20x	as long as short
BingX TAO-USDT	+0.0740%	4h	308.05	+0.094%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0779%	4h	307.24	−0.169%	$62.8M	$135.5M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0864%	1h	308.27	+0.166%	$311K	$814K	10x	as long as short
Extended TAO-USD	+0.0976%	1h	308.63	+0.283%	$890K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	309.88	+0.689%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	309.36	+0.519%	$411K	$605K	5x	as long as short
Hyperliquid TAO	+0.1277%	1h	308.48	+0.234%	$97.8M	$93.0M	5x	as long as short
Lighter TAO	+0.1392%	1h	308.93	+0.381%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+1.508%	$166K	$40K	10x	as long as short