Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Orderly+0.078%7-day average +0.031% · you sell dearer than you buy

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.130%+$13 on $10k

Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.078%, 7d avg +0.031%

Together, before fees+0.049%+$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: Aevo is 0.047% dearer against Orderly than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	317.24	0.0100	pay 0.0050% / 4h	3h 03m	$57K	$316K	10x
Short	Aevo TAO-PERP	317.49	0.0104	get 0.0013% / 1h	3m 58s	$174K	$998	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now +0.078%Rate

Funding earned: $0.84
Price spread: +0.078% → +0.031%: $4.72
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$16.44
Costs to cover: 0.220%
Break-even: 144.0 days

Slippage unknown: Orderly: no order-book sample; Aevo: live order book, 5 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo live order book, 5 min ago	75.44 bp	101.7 bp −$102	666.8 bp −$6,668	doesn't fit	doesn't fit

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	−0.347%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.54	−0.221%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	316.94	−0.096%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.72	+0.151%	$44K	$603K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.78	−0.776%	$90.2M	$451.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	−0.769%	$25.7M	$108.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.20	−0.328%	$12.8M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.86	−0.435%	$100.6M	$137.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.70	−0.170%	$17.9M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.11	−0.356%	$35.2M	$51.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.06	−0.058%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.81	−0.451%	$523K	$958K	10x	as long as short
Orderly PERP_TAO_USDClong	+0.0100%	4h	317.24	long leg	$57K	$316K	10x
SunX TAO-USDT	+0.0100%	4h	317.27	+0.009%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.38	+0.044%	$127K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0103%	4h	317.37	+0.041%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERPshort	+0.0104%	1h	317.49	+0.078%	$174K	$998	3x
Bullet TAO-USD	+0.0105%	1h	317.35	+0.035%	$12K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0122%	8h	317.74	+0.158%	$1K	$644K	5x	as long as short
ApeX Omni TAOUSDT	+0.0154%	1h	316.14	−0.347%	$48K	$267K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	316.91	−0.104%	$450K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	317.17	−0.023%	$375K	$376K	10x	as long as short
Aster TAOUSDT	+0.0199%	4h	316.75	−0.155%	$1.3M	$8.8M	50x	as long as short
Arcus TAO-USD	+0.0201%	1h	317.58	+0.107%	$84K	$550K	5x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	316.75	−0.154%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0267%	1h	317.77	+0.167%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0275%	1h	317.11	−0.042%	$17K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.47	−0.243%	$4.4M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0484%	1h	317.05	−0.060%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.00	−0.076%	$332K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.57	+0.104%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.46	+1.015%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	−0.146%	$5.5M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.52	+0.089%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	314.74	−0.788%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0742%	4h	314.90	−0.738%	$64.8M	$133.8M	50x	as long as short
Nado TAO-PERP	+0.0746%	1h	317.67	+0.136%	$790K	$2.1M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0800%	1h	317.11	−0.041%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.25	+0.003%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1104%	1h	316.30	−0.296%	$884K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	317.39	+0.047%	$421K	$593K	5x	as long as short
Lighter TAO	+0.1424%	1h	317.65	+0.130%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1755%	1h	317.32	+0.025%	$101.5M	$91.6M	5x	as long as short