Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0001%/8h= −0.2% APRpaid last 24h +0.004%

Price spread now: Katana Perps against Bitget+0.167%7-day average +0.061% · you sell dearer than you buy

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

Long on Bitget Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.148%+$15 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.167%, 7d avg +0.061%

Together, before fees+0.014%+$1 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: Katana Perps is 0.106% dearer against Bitget than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	311.21	0.0100	pay 0.0050% / 4h	3h 21m	$34.9M	$56.5M	50x
Short	Katana Perps TAO-USD	311.73	0.0099	get 0.0099% / 8h	3h 21m	$639	$842K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.167%Rate

Funding earned: −$0.3
Price spread: +0.167% → +0.061%: $10.59
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$5.51
Costs to cover: 0.158%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 min ago; Katana Perps: 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 Bitget live order book, 3 min ago	1.61 bp	12.8 bp −$13	27.6 bp −$276	49.7 bp −$4,973	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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 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
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.72	+0.164%	$5.5M	$20.6M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.55	+0.109%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0013%	1h	311.34	+0.043%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.94	+0.235%	$46K	$656K	20x	as long as short
Katana Perps TAO-USDshort	+0.0099%	8h	311.73	+0.167%	$639	$842K	5x
Pacifica TAO	+0.0100%	1h	311.75	+0.174%	$355K	$414K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.56	+0.112%	$89.3M	$500.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.71	+0.161%	$67.1M	$150.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.50	+0.093%	$26.0M	$120.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.30	+0.029%	$13.2M	$50.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	311.41	+0.064%	$102.2M	$145.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.74	+0.170%	$17.7M	$31.2M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	311.21	long leg	$34.9M	$56.5M	50x
BingX TAO-USDT	+0.0100%	4h	311.54	+0.106%	—	$33.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	310.82	−0.124%	$41K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	310.69	−0.166%	$528K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	310.73	−0.154%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.70	+0.157%	$79K	$901K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.83	+0.200%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.62	+0.132%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.34	+0.042%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.56	+0.112%	$3.1M	$8.0M	50x	as long as short
Aster TAOUSDT	+0.0100%	4h	311.65	+0.142%	$1.3M	$10.5M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.73	+0.168%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0116%	4h	311.79	+0.186%	$51K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0137% / S +0.0135%	1h	311.51	+0.097%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0143%	8h	311.83	+0.198%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.16	+0.305%	$101K	$394K	5x	as long as short
Variational Omni TAO	+0.0294%	4h	311.14	−0.023%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0312%	1h	311.69	+0.153%	$904K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0340%	1h	311.69	+0.155%	$785K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.79	+0.186%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	311.10	−0.035%	$310K	$711K	5x	as long as short
Hyperliquid TAO	+0.0458%	1h	311.73	+0.167%	$91.6M	$107.7M	5x	as long as short
01 Exchange TAOUSD	+0.0480%	1h	312.05	+0.270%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0492%	1h	311.65	+0.141%	$310K	$885K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0505%	1h	311.84	+0.202%	$15K	$1.8M	25x	as long as short
Lighter TAO	+0.0584%	1h	311.95	+0.236%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.80	+0.190%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.91	+0.225%	$442K	$653K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.093%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	311.52	+0.100%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	315.24	+1.295%	$23K	$2K	12x	as long as short