Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h −0.012%

Price spread now: Bybit against Pacifica−0.011%7-day average +0.018% · you buy dearer than you sell

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

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.011%, 7d avg +0.018%

Together, before fees−0.043%+ Points / potential airdropPacifica: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.030% cheaper against Pacifica than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	316.52	0.0349	pay 0.0044% / 1h	45m 40s	$371K	$442K	10x
Short	Bybit TAOUSDT	316.48	0.0319	get 0.0159% / 4h	3h 45m	$69.7M	$156.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$6.29
Price spread: −0.011% → +0.018%: −$2.97
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28.26
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 53 min ago; Bybit: 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 Pacifica live order book, 53 min ago	3.47 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.16 bp	9.7 bp −$10	19.5 bp −$195	45.3 bp −$4,533	doesn't fit

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 −0.0005%	1h	316.60	+0.027%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0061%	1h	316.46	−0.019%	$127K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.86	+0.109%	$50K	$717K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	316.39	−0.040%	$647	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.30	−0.068%	$26.4M	$130.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.30	−0.068%	$14.8M	$49.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.44	−0.024%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.22	−0.094%	$35.6M	$57.8M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.92	+0.128%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.68	+0.052%	$1K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	316.36	−0.049%	$116K	$589K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.61	+0.030%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.98	+0.148%	$174K	$998	3x	as long as short
MEXC TAO_USDT	+0.0164%	4h	316.50	−0.005%	$104.2M	$151.6M	300x	as long as short
edgeX TAOUSDC	+0.0164%	4h	316.63	+0.037%	$42K	$321K	10x	as long as short
Binance TAOUSDT	+0.0165%	4h	316.51	−0.002%	$92.6M	$531.7M	75x	as long as short
Orderly PERP_TAO_USDC	+0.0206%	4h	316.80	+0.090%	$54K	$299K	10x	as long as short
Bullet TAO-USD	+0.0217%	1h	316.79	+0.086%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0228%	4h	316.92	+0.127%	$542K	$887K	10x	as long as short
Bulk TAO-USD	+0.0233%	1h	316.19	−0.103%	$168K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0247%	8h	316.50	−0.005%	$14K	$876	10x	as long as short
ApeX Omni TAOUSDT	+0.0294%	1h	316.58	+0.020%	$46K	$259K	50x	as long as short
Bybit TAOUSDTshort	+0.0319%	4h	316.48	−0.011%	$69.7M	$156.3M	50x
Aster TAOUSDT	+0.0327%	4h	316.56	+0.014%	$1.2M	$11.1M	50x	as long as short
Pacifica TAOlong	+0.0349%	1h	316.52	long leg	$371K	$442K	10x
GMX TAO/USD [WBTC.b-USDC]	L +0.0362% / S −0.0107%	1h	316.59	+0.024%	$372K	—	100x	as long as short
Extended TAO-USD	+0.0376%	1h	316.29	−0.071%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0402%	4h	316.72	+0.064%	$4.8M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	316.79	+0.087%	$100K	$376K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0439%	1h	316.84	+0.103%	$15K	$1.9M	25x	as long as short
Hyperliquid TAO	+0.0511%	1h	316.57	+0.017%	$93.2M	$110.1M	5x	as long as short
BingX TAO-USDT	+0.0568%	4h	316.37	−0.046%	—	$37.4M	—	as long as short
Nado TAO-PERP	+0.0569%	1h	316.80	+0.091%	$769K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	315.60	−0.289%	$317K	$714K	5x	as long as short
Lighter TAO	+0.0616%	1h	316.61	+0.028%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0616%	1h	317.02	+0.159%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0622%	4h	316.65	+0.043%	$5.6M	$10.1M	—	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.86	+0.109%	$364	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0773%	1h	316.69	+0.055%	$317K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0786%	1h	316.71	+0.060%	$6.0M	$21.3M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	316.52	+0.002%	$446K	$673K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	317.10	+0.185%	$1.2M	$7.3M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	319.36	+0.899%	$23K	$2K	12x	as long as short