Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bitget against Orderly0.000%7-day average −0.041% · you sell dearer than you buy

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

Long on Orderly Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now 0.000%, 7d avg −0.041%

Together, before fees+0.063%+$6 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: Bitget is 0.041% dearer against Orderly than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	305.83	0.0100	pay 0.0050% / 4h	1h 15m	$59K	$276K	10x
Short	Bitget TAOUSDT	305.83	0.0100	get 0.0050% / 4h	1h 15m	$34.1M	$46.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.041%: $4.15
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$13.85
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 3 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 Bitget live order book, 3 min ago	0.82 bp	9.7 bp −$10	13.1 bp −$131	20.8 bp −$2,085	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	305.60	−0.074%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0015%	1h	305.55	−0.091%	$125K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	306.01	+0.059%	$45K	$539K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.92	+0.029%	$85.6M	$414.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	306.09	+0.085%	$59.3M	$121.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	306.00	+0.056%	$24.6M	$95.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.23	+0.131%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	302.77	−1.001%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	305.80	−0.010%	$12.2M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.97	+0.046%	$113.8M	$125.8M	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	306.05	+0.072%	$18.2M	$27.3M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	305.83	0.000%	$34.1M	$46.0M	50x
BingX TAO-USDT	+0.0100%	4h	305.96	+0.043%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.18	+0.115%	$40K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.91	+0.026%	$506K	$967K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	306.00	+0.056%	$75K	$556K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.81	−0.007%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDClong	+0.0100%	4h	305.83	long leg	$59K	$276K	10x
SunX TAO-USDT	+0.0100%	4h	305.93	+0.033%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	305.82	−0.003%	$122K	$368K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.92	+0.029%	$3.3M	$7.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0102%	1h	306.21	+0.124%	$46K	$270K	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.90	+0.021%	$168K	$998	3x	as long as short
Variational Omni TAO	+0.0105%	4h	305.97	+0.045%	$3.7M	$6.7M	—	as long as short
Katana Perps TAO-USD	+0.0110%	8h	305.98	+0.049%	$626	$506K	5x	as long as short
Aster TAOUSDT	+0.0119%	4h	305.99	+0.052%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	305.89	+0.020%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	305.96	+0.042%	$361K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	305.59	−0.080%	$436K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0264%	1h	305.95	+0.039%	$19K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0319%	1h	306.04	+0.069%	$826K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.78	−0.016%	$4.2M	$9.5M	100x	as long as short
Lighter TAO	+0.0352%	1h	306.08	+0.083%	$1.6M	$5.4M	5x	as long as short
01 Exchange TAOUSD	+0.0408%	1h	306.17	+0.111%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0449%	1h	306.13	+0.098%	$294K	$800K	10x	as long as short
Phoenix TAO	+0.0521%	1h	306.60	+0.252%	$321K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	305.72	−0.035%	$352	—	20x	as long as short
Extended TAO-USD	+0.0744%	1h	305.89	+0.018%	$834K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	306.04	+0.069%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1032%	1h	305.94	+0.036%	$5.8M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1083%	1h	306.45	+0.203%	$93.3M	$80.7M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	306.21	+0.124%	$417K	$544K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.948%	$22K	$264	12x	as long as short