Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0077%/8h= −8.4% APRpaid last 24h +0.006%

Price spread now: Variational Omni against Deribit+0.062%7-day average +0.024% · you sell dearer than you buy

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.062%, 7d avg +0.024%

Together, before fees−0.057%+ Points / potential airdropVariational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.038% dearer against Deribit than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of +0.024%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	313.84	0.0526	pay 0.0066% / 1h	30m 03s	$15K	$1.8M	25x
Short	Variational Omni TAO	314.04	0.0449	get 0.0225% / 4h	2h 30m	$5.5M	$10.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now +0.062%Rate

Funding earned: −$16.14
Price spread: +0.062% → +0.024%: $3.76
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.38
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 Deribit live order book, 4 min ago	5.26 bp	9.1 bp −$9	18.8 bp −$188	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.88 bp	doesn't fit	21.3 bp −$213	44.1 bp −$4,410	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.40	−0.140%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0040%	1h	313.59	−0.080%	$125K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.11	+0.084%	$90.1M	$507.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.10	+0.082%	$26.3M	$122.4M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	313.47	−0.118%	$167K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.80	−0.014%	$13.9M	$50.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.98	+0.044%	$107.8M	$145.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.93	+0.028%	$17.3M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.90	+0.018%	$35.4M	$57.1M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.56	−0.092%	$41K	$316K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	313.65	−0.061%	$90K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.34	−0.160%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.08	−0.243%	$113K	$554K	20x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	313.61	−0.074%	$642	$915K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.03	+0.059%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	313.86	+0.005%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0129% / S +0.0140%	1h	313.38	−0.147%	$420K	—	100x	as long as short
Popdex TAOUSDT	+0.0144%	1h	313.72	−0.039%	$50K	$667K	20x	as long as short
Phemex TAOUSDT	+0.0162%	4h	313.90	+0.018%	$3.2M	$8.0M	50x	as long as short
Aster TAOUSDT	+0.0204%	4h	314.09	+0.080%	$1.3M	$10.6M	50x	as long as short
Pacifica TAO	+0.0233%	1h	313.87	+0.009%	$357K	$419K	10x	as long as short
Paradex TAO-USD-PERP	+0.0269%	8h	313.91	+0.022%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0271%	1h	313.96	+0.037%	$772K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0303%	1h	314.08	+0.076%	$5.9M	$21.4M	50x	as long as short
Bullet TAO-USD	+0.0325%	1h	313.81	−0.009%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0330%	4h	313.91	+0.022%	$533K	$923K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.88	+0.012%	$4.5M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0397%	1h	313.30	−0.173%	$44K	$256K	50x	as long as short
BingX TAO-USDT	+0.0438%	4h	314.02	+0.056%	—	$33.7M	—	as long as short
Variational Omni TAOshort	+0.0449%	4h	314.04	+0.062%	$5.5M	$10.1M	—
Bybit TAOUSDT	+0.0461%	4h	314.19	+0.111%	$68.2M	$152.5M	50x	as long as short
Extended TAO-USD	+0.0464%	1h	313.83	−0.005%	$897K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0483%	1h	313.88	+0.012%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.60	+0.241%	$313K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0526%	1h	313.84	long leg	$15K	$1.8M	25x
Reya TAORUSDPERP	+0.0697%	1h	313.91	+0.021%	$361	—	20x	as long as short
01 Exchange TAOUSD	+0.0760%	1h	314.03	+0.060%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0805%	1h	314.28	+0.139%	$91.9M	$108.9M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0822%	1h	314.19	+0.111%	$310K	$889K	10x	as long as short
Lighter TAO	+0.0840%	1h	314.30	+0.147%	$1.5M	$6.6M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	314.27	+0.136%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	313.68	−0.053%	$454K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	317.66	+1.216%	$23K	$2K	12x	as long as short