Funding arb · Price arb /

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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 −0.001%

Price spread now: KuCoin against Katana Perps−0.054%7-day average −0.017% · you buy dearer than you sell

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

Long on Katana Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.150%−$15 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.054%, 7d avg −0.017%

Together, before fees−0.050%−$5 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: KuCoin is 0.037% cheaper against Katana Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	314.83	0.0098	pay 0.0098% / 8h	4h 08m	$1K	$800K	5x
Short	KuCoin TAOUSDTM	314.66	0.0100	get 0.0050% / 4h	8m 21s	$17.7M	$31.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0.42
Price spread: −0.054% → −0.017%: −$3.68
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$19.06
Costs to cover: 0.158%
Break-even: 324.7 days

Slippage unknown: Katana Perps: no order-book sample; KuCoin: live order book, 11 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 KuCoin live order book, 11 min ago	1.75 bp	13.6 bp −$14	20.6 bp −$206	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	314.73	−0.032%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.57	−0.083%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.79	−0.012%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.72	−0.035%	$43K	$669K	20x	as long as short
Katana Perps TAO-USDlong	+0.0098%	8h	314.83	long leg	$1K	$800K	5x
Binance TAOUSDT	+0.0100%	4h	314.82	−0.003%	$91.0M	$495.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.86	+0.010%	$67.9M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	−0.041%	$26.0M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.50	−0.105%	$12.9M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.79	−0.013%	$110.6M	$144.2M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTMshort	+0.0100%	4h	314.66	−0.054%	$17.7M	$31.7M	75x
Bitget TAOUSDT	+0.0100%	4h	314.50	−0.105%	$35.1M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.67	−0.051%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.88	+0.015%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.41	−0.134%	$520K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.05	+0.070%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.58	−0.079%	$77K	$860K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.78	−0.014%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.71	−0.038%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.40	−0.137%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.81	−0.006%	$3.2M	$8.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.68	−0.048%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.84	+0.004%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.71	−0.038%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0144% / S +0.0123%	1h	314.52	−0.098%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0153%	8h	314.99	+0.050%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0166%	4h	314.76	−0.022%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0192%	1h	314.75	−0.024%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0214%	1h	314.68	−0.047%	$800K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0279%	1h	314.97	+0.044%	$92.7M	$106.5M	5x	as long as short
01 Exchange TAOUSD	+0.0336%	1h	314.92	+0.029%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.96	+0.041%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.15	+0.102%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0346%	1h	315.08	+0.079%	$316K	$913K	10x	as long as short
Lighter TAO	+0.0360%	1h	315.14	+0.099%	$1.5M	$6.5M	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.05	+0.070%	$359K	$412K	10x	as long as short
Variational Omni TAO	+0.0450%	4h	315.00	+0.053%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0457%	1h	314.89	+0.020%	$23K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.90	+0.022%	$313K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.75	−0.026%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.87	+0.014%	$437K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.10	+0.086%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.067%	$23K	$2K	12x	as long as short