Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0077%/8h= −8.4% APRpaid last 24h +0.657%

Price spread now: Injective against Katana Perps−0.006%7-day average — · you buy dearer than you sell

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

Long on Katana Perps Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	314.41	0.0110	pay 0.0110% / 8h	38m 21s	$2K	$541K	5x
Short	Injective TAO/USDC PERP	314.39	0.0033	get 0.0004% / 1h	38m 21s	$23K	$260	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.006%Rate

Funding earned: −$16.1
Price spread: −0.006% → 0.000%: −$0.64
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$20.56
Costs to cover: 0.038%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Injective: 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Katana Perps and Injective: 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	−0.4478%	1h	313.97	−0.140%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.41	−0.318%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.55	−0.274%	$21K	—	150x	as long as short
Injective TAO/USDC PERPshort	+0.0033%	1h	314.39	−0.006%	$23K	$260	12x
Popdex TAOUSDT	+0.0096%	1h	314.50	+0.029%	$43K	$552K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.79	−0.198%	$372K	$369K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.81	−0.191%	$88.7M	$425.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.84	−0.181%	$61.6M	$124.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.60	−0.258%	$25.2M	$100.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.80	−0.194%	$12.7M	$49.3M	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	313.91	−0.159%	$120.8M	$127.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.83	−0.184%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.63	−0.248%	$35.0M	$46.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.69	−0.229%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.40	−0.639%	$40K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.53	−0.598%	$526K	$948K	10x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.91	−0.159%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.67	−0.235%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.56	−0.270%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.08	−0.423%	$128K	$395K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.83	−0.503%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.85	−0.178%	$172K	$998	3x	as long as short
Katana Perps TAO-USDlong	+0.0110%	8h	314.41	long leg	$2K	$541K	5x
ApeX Omni TAOUSDT	+0.0118%	1h	312.28	−0.677%	$47K	$270K	50x	as long as short
Polymarket Perps TAO-USD	+0.0123%	1h	314.50	+0.029%	$77K	$520K	5x	as long as short
Arcus TAO-USD	+0.0186%	1h	314.51	+0.032%	$83K	$606K	5x	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	314.23	−0.056%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0194%	4h	312.41	−0.637%	$3.9M	$7.0M	—	as long as short
Aster TAOUSDT	+0.0202%	4h	314.15	−0.081%	$1.1M	$7.9M	50x	as long as short
BloFin TAO-USDT	+0.0347%	4h	313.20	−0.385%	$4.4M	$10.2M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0349%	1h	313.75	−0.210%	$19K	$1.4M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.77	−0.203%	$5.8M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0477% / S −0.0175%	1h	313.54	−0.277%	$451K	—	100x	as long as short
Nado TAO-PERP	+0.0483%	1h	314.45	+0.014%	$833K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0536%	1h	313.28	−0.359%	$301K	$799K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.80	−0.512%	$327K	$521K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	314.10	−0.097%	$361	—	20x	as long as short
01 Exchange TAOUSD	+0.0712%	1h	314.72	+0.099%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	313.77	−0.204%	$863K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.64	+0.073%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	314.57	+0.051%	$433K	$548K	5x	as long as short
Lighter TAO	+0.1352%	1h	314.16	−0.078%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.1878%	1h	314.56	+0.048%	$98.0M	$83.2M	5x	as long as short