Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.002%

Price spread now: ApeX Omni against Katana Perps+0.010%7-day average +0.010% · you sell dearer than you buy

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

Long on Katana Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.142%−$14 on $10k

Price spread, last 4 days (all we have)+0.613%+$61 · spread now +0.010%, 7d avg +0.010%

Together, before fees+0.471%+$47 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	314.56	0.0098	pay 0.0098% / 8h	4h 05m	$644	$801K	5x
Short	ApeX Omni TAOUSDT	314.59	0.0100	get 0.0013% / 1h	5m 36s	$46K	$255K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Katana Perps. 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 Katana PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.010%Rate

Funding earned: $0.41
Price spread: +0.010% → +0.010%: −$0.03
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$13.42
Costs to cover: 0.138%
Break-even: 237.6 days

Slippage unknown: Katana Perps: no order-book sample; ApeX Omni: live order book, 51 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 Katana Perps no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 51 min ago	5.36 bp	13.0 bp −$13	133.3 bp −$1,333	doesn't fit	doesn't fit

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
dYdX TAO-USD	0.0000%	1h	314.41	−0.048%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.25	−0.097%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.39	−0.053%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.70	+0.045%	$43K	$669K	20x	as long as short
Katana Perps TAO-USDlong	+0.0098%	8h	314.56	long leg	$644	$801K	5x
Binance TAOUSDT	+0.0100%	4h	314.70	+0.045%	$90.9M	$495.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.68	+0.038%	$67.8M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.60	+0.013%	$26.0M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.40	−0.051%	$12.9M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.68	+0.038%	$99.9M	$144.3M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.55	−0.003%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.35	−0.067%	$35.1M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.64	+0.025%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.77	+0.067%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.68	+0.039%	$533K	$969K	10x	as long as short
ApeX Omni TAOUSDTshort	+0.0100%	1h	314.59	+0.010%	$46K	$255K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	314.34	−0.070%	$77K	$861K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.54	−0.005%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.04	−0.165%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.91	−0.207%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.45	−0.035%	$3.2M	$8.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.68	+0.038%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.60	+0.011%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.50	−0.019%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0144% / S +0.0123%	1h	314.30	−0.082%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0151%	8h	314.82	+0.084%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0157%	4h	314.43	−0.041%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	314.67	+0.036%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0217%	1h	314.81	+0.079%	$800K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0283%	1h	314.68	+0.038%	$92.6M	$106.5M	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.86	+0.095%	$4.6M	$10.9M	100x	as long as short
01 Exchange TAOUSD	+0.0344%	1h	315.00	+0.140%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.05	+0.156%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0353%	1h	314.60	+0.013%	$315K	$912K	10x	as long as short
Pacifica TAO	+0.0365%	1h	314.66	+0.033%	$359K	$412K	10x	as long as short
Lighter TAO	+0.0384%	1h	314.81	+0.081%	$1.5M	$6.5M	5x	as long as short
Variational Omni TAO	+0.0413%	4h	314.58	+0.008%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0470%	1h	314.52	−0.013%	$22K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.90	+0.108%	$313K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.46	−0.033%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.80	+0.078%	$437K	$652K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.10	+0.172%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.154%	$23K	$2K	12x	as long as short