Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0097%/8h= −10.7% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Orderly−0.106%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.106% cheaper against Orderly than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	308.35	0.0100	pay 0.0050% / 4h	2h 39m	$56K	$283K	10x
Short	gTrade (Gains Network) TAO/USD	308.02	L +0.0004% / S −0.0003%	get 0.0000% / 1h	39m 06s	$12K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.106%Rate

Funding earned: −$20.47
Price spread: −0.106% → 0.000%: −$10.64
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$47.11
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): 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 Orderly no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and gTrade (Gains Network): 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	307.69	−0.213%	$123K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USDshort	L +0.0004% / S −0.0003%	1h	308.02	−0.106%	$12K	—	150x
Popdex TAOUSDT	+0.0096%	1h	307.68	−0.217%	$36K	$616K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.88	+0.172%	$88.7M	$460.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.80	+0.146%	$25.3M	$108.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	308.50	+0.049%	$12.6M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.88	+0.172%	$103.9M	$137.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.81	+0.149%	$17.9M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.58	+0.075%	$34.4M	$53.1M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.15	+0.258%	$34K	$298K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	308.37	+0.005%	$508K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.11	+0.246%	$46K	$268K	50x	as long as short
Orderly PERP_TAO_USDClong	+0.0100%	4h	308.35	long leg	$56K	$283K	10x
SunX TAO-USDT	+0.0100%	4h	308.62	+0.088%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.88	−0.152%	$126K	$471K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.20	−0.050%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0115%	8h	307.58	−0.250%	$689	$680K	5x	as long as short
Aster TAOUSDT	+0.0165%	4h	308.07	−0.092%	$1.2M	$9.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0102%	1h	307.98	−0.121%	$414K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0171%	1h	308.64	+0.095%	$5.5M	$20.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0203%	1h	308.22	−0.042%	$77K	$644K	5x	as long as short
Bullet TAO-USD	+0.0218%	1h	308.25	−0.031%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0274%	8h	308.01	−0.111%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	308.07	−0.091%	$364K	$381K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	308.10	−0.081%	$81K	$547K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+0.911%	$4.4M	$10.7M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0461%	1h	308.69	+0.111%	$15K	$1.5M	25x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+2.361%	$23K	$2K	12x	as long as short
Phemex TAOUSDT	+0.0475%	4h	308.54	+0.062%	$3.3M	$8.0M	50x	as long as short
Nado TAO-PERP	+0.0586%	1h	308.32	−0.009%	$750K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	308.80	+0.146%	$323K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	307.91	−0.143%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	308.33	−0.007%	$355	—	20x	as long as short
Variational Omni TAO	+0.0734%	4h	308.15	−0.066%	$5.3M	$8.9M	—	as long as short
BingX TAO-USDT	+0.0736%	4h	308.85	+0.162%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0741%	4h	308.99	+0.208%	$63.1M	$135.7M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0843%	1h	309.01	+0.214%	$312K	$814K	10x	as long as short
Extended TAO-USD	+0.0944%	1h	308.38	+0.010%	$885K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	308.25	−0.032%	$1.4M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	307.88	−0.151%	$410K	$606K	5x	as long as short
Hyperliquid TAO	+0.1236%	1h	309.10	+0.242%	$97.4M	$93.3M	5x	as long as short
Lighter TAO	+0.1352%	1h	309.18	+0.270%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+1.313%	$166K	$40K	10x	as long as short