Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.001%

Price spread now: Katana Perps against HTX+0.093%7-day average +0.128% · you sell dearer than you buy

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

Long on HTX Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.168%+$17 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.093%, 7d avg +0.128%

Together, before fees+0.160%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.036% cheaper against HTX than usual: you would sell low and buy high (spread +0.093% now, against its 7-day average of +0.128%). If the spread goes back, that is −$4 on $10k: about 12 days of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.168% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TAO-USDT	323.55	0.0100	pay 0.0050% / 4h	2h 05m	$118K	$565K	20x
Short	Katana Perps TAO-USD	323.85	0.0110	get 0.0110% / 8h	2h 05m	$3K	$957K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against HTX. 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 HTXbpFee Katana PerpsbpOrdersPrice spread, now +0.093%Rate

Funding earned: $2.08
Price spread: +0.093% → +0.128%: −$3.56
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$17.29
Costs to cover: 0.158%
Break-even: 65.2 days

Slippage unknown: HTX: live order book, 43 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 HTX live order book, 43 min ago	7.03 bp	108.0 bp −$108	doesn't fit	doesn't fit	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
Bulk TAO-USD	−0.1195%	1h	319.01	−1.402%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.12	−0.133%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0028%	1h	323.78	+0.070%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.80	+0.077%	$27.0M	$128.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.40	−0.046%	$14.2M	$52.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.12	+0.176%	$17.9M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.46	−0.028%	$36.6M	$57.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.32	−0.380%	$79K	$958K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.27	−0.396%	$2K	$2.0M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	323.55	long leg	$118K	$565K	20x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.94	+0.121%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USDshort	+0.0110%	8h	323.85	+0.093%	$3K	$957K	5x
edgeX TAOUSDC	+0.0110%	4h	319.26	−1.327%	$42K	$315K	10x	as long as short
Aevo TAO-PERP	+0.0112%	1h	323.55	0.000%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	323.57	+0.006%	$53K	$291K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	323.28	−0.083%	$42K	$679K	20x	as long as short
MEXC TAO_USDT	+0.0124%	4h	324.06	+0.158%	$103.7M	$148.9M	300x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0142%	1h	322.79	−0.234%	$432K	—	100x	as long as short
Binance TAOUSDT	+0.0135%	4h	324.04	+0.151%	$93.6M	$516.5M	75x	as long as short
Pacifica TAO	+0.0233%	1h	324.18	+0.195%	$369K	$421K	10x	as long as short
Nado TAO-PERP	+0.0291%	1h	322.50	−0.324%	$816K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0292%	4h	324.11	+0.172%	$1.3M	$10.8M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0294%	1h	323.62	+0.021%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0300%	8h	324.04	+0.153%	$15K	$1K	10x	as long as short
Bullet TAO-USD	+0.0325%	1h	322.65	−0.278%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0364%	4h	321.98	−0.485%	$4.6M	$11.1M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	323.77	+0.068%	—	$33.9M	—	as long as short
GRVT TAO_USDT_Perp	+0.0440%	4h	319.60	−1.222%	$545K	$948K	10x	as long as short
Bybit TAOUSDT	+0.0462%	4h	324.15	+0.185%	$71.2M	$154.2M	50x	as long as short
Arcus TAO-USD	+0.0483%	1h	324.01	+0.142%	$104K	$371K	5x	as long as short
ApeX Omni TAOUSDT	+0.0487%	1h	319.47	−1.261%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0504%	1h	323.35	−0.061%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	320.60	−0.912%	$319K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	+0.009%	$5.7M	$10.1M	—	as long as short
Reya TAORUSDPERP	+0.0697%	1h	322.47	−0.332%	$371	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0709%	1h	323.61	+0.018%	$14K	$1.8M	25x	as long as short
Lighter TAO	+0.0808%	1h	324.25	+0.216%	$1.5M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	323.94	+0.121%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0824%	1h	324.36	+0.250%	$95.5M	$109.4M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0847%	1h	324.63	+0.334%	$322K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	324.00	+0.139%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.25	−0.094%	$464K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.022%	$24K	$2K	12x	as long as short