Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Orderly against OKX+0.368%7-day average +0.037% · you sell dearer than you buy

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

Long on OKX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 3 days (all we have)−0.366%−$37 · spread now +0.368%, 7d avg +0.037%

Together, before fees−0.445%−$44 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: Orderly is 0.331% dearer against OKX than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TAO-USDT-SWAP	312.40	0.0100	pay 0.0100% / 8h	7h 00m	$25.4M	$108.1M	50x
Short	Orderly PERP_TAO_USDC	313.55	0.0100	get 0.0050% / 4h	3h 00m	$56K	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against OKX. 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 OKXbpFee OrderlybpOrdersPrice spread, now +0.368%Rate

Funding earned: $0
Price spread: +0.368% → +0.037%: $33.07
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $17.07
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: OKX: live order book, 3 min ago; Orderly: 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 OKX live order book, 3 min ago	1.59 bp	11.3 bp −$11	21.2 bp −$212	65.6 bp −$6,557	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.1228%	1h	316.14	+1.197%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.20	−0.063%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	313.53	+0.361%	$12K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0037%	1h	313.45	+0.337%	$16K	$1.5M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.76	+0.435%	$42K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.47	+0.021%	$89.8M	$453.5M	75x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	312.40	long leg	$25.4M	$108.1M	50x
Gate TAO_USDT	+0.0100%	4h	312.40	0.000%	$12.7M	$51.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.39	−0.003%	$100.1M	$138.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.41	+0.003%	$18.1M	$29.8M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	312.29	−0.035%	$34.7M	$51.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.16	+0.883%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.35	+1.265%	$524K	$958K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.60	+0.704%	$48K	$267K	50x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	313.55	+0.368%	$56K	$316K	10x
SunX TAO-USDT	+0.0100%	4h	313.42	+0.327%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.00	+0.512%	$125K	$422K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.05	+0.527%	$172K	$998	3x	as long as short
Bullet TAO-USD	+0.0112%	1h	313.83	+0.458%	$12K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	313.76	+0.435%	$1K	$648K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0105%	1h	313.46	+0.340%	$442K	—	100x	as long as short
Aster TAOUSDT	+0.0180%	4h	312.92	+0.167%	$1.3M	$9.0M	50x	as long as short
Pacifica TAO	+0.0185%	1h	312.48	+0.026%	$370K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	314.17	+0.567%	$83K	$550K	5x	as long as short
Paradex TAO-USD-PERP	+0.0236%	8h	312.34	−0.020%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0259%	1h	313.93	+0.490%	$92K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.38	+0.314%	$4.4M	$10.7M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0489%	1h	313.40	+0.321%	$5.6M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	313.80	+0.448%	$328K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	313.96	+0.499%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	316.84	+1.421%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0606%	4h	314.06	+0.531%	$5.4M	$8.7M	—	as long as short
Phemex TAOUSDT	+0.0668%	4h	313.70	+0.416%	$3.4M	$7.8M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	313.94	+0.492%	$361	—	20x	as long as short
BingX TAO-USDT	+0.0704%	4h	312.62	+0.070%	—	$30.8M	—	as long as short
Bybit TAOUSDT	+0.0743%	4h	312.64	+0.077%	$63.7M	$134.6M	50x	as long as short
Nado TAO-PERP	+0.0749%	1h	313.98	+0.507%	$778K	$2.1M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0797%	1h	313.01	+0.195%	$316K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	314.47	+0.663%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1080%	1h	313.00	+0.193%	$910K	$2.4M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	313.82	+0.454%	$416K	$602K	5x	as long as short
Lighter TAO	+0.1424%	1h	313.01	+0.195%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1710%	1h	312.85	+0.142%	$100.0M	$91.8M	5x	as long as short