Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Orderly against Pacifica−0.070%7-day average +0.001% · you buy dearer than you sell

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

Long on Pacifica Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 3 days (all we have)+0.151%+$15 · spread now −0.070%, 7d avg +0.001%

Together, before fees+0.004%+ Points / potential airdropPacifica: Active · farm board$0 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 0.071% cheaper against Pacifica than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	312.76	0.0100	pay 0.0013% / 1h	21m 18s	$370K	$363K	10x
Short	Orderly PERP_TAO_USDC	312.54	0.0100	get 0.0050% / 4h	21m 18s	$60K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → +0.001%: −$7.12
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$21.12
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 57 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 Pacifica live order book, 57 min ago	3.43 bp	10.9 bp −$11	doesn't fit	doesn't fit	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	−0.4493%	1h	315.57	+0.898%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.35	−0.132%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.41	−0.113%	$27K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+0.700%	$23K	$361	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.87	+0.035%	$37K	$564K	20x	as long as short
Pacifica TAOlong	+0.0100%	1h	312.76	long leg	$370K	$363K	10x
Binance TAOUSDT	+0.0100%	4h	312.65	−0.035%	$88.7M	$427.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.76	0.000%	$61.5M	$125.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.40	−0.115%	$25.1M	$101.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.60	−0.051%	$12.5M	$50.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	312.71	−0.016%	$110.2M	$131.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.78	+0.006%	$18.5M	$27.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.33	−0.138%	$34.9M	$46.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.65	−0.035%	—	$30.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.50	−0.403%	$40K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.50	−0.083%	$518K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.35	−0.451%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.94	+0.057%	$77K	$466K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.74	−0.006%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	312.54	−0.070%	$60K	$275K	10x
SunX TAO-USDT	+0.0100%	4h	312.48	−0.090%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.58	−0.058%	$127K	$408K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.61	−0.048%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.70	−0.021%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	312.90	+0.045%	$3K	$557K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0150%	1h	312.51	−0.081%	$21K	$1.5M	25x	as long as short
Aster TAOUSDT	+0.0177%	4h	312.67	−0.029%	$1.1M	$7.9M	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.04	+0.089%	$83K	$565K	5x	as long as short
Paradex TAO-USD-PERP	+0.0192%	8h	312.74	−0.007%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0218%	4h	312.89	+0.042%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.70	−0.019%	$4.4M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0446%	1h	312.68	−0.025%	$823K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.57	−0.061%	$5.7M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	312.42	−0.110%	$448K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0524%	1h	313.39	+0.201%	$292K	$803K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.50	−0.083%	$327K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0600%	1h	313.16	+0.128%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.73	−0.009%	$360	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	312.51	−0.079%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.27	+0.163%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1224%	1h	313.01	+0.080%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	312.95	+0.062%	$435K	$567K	5x	as long as short
Hyperliquid TAO	+0.1664%	1h	313.11	+0.112%	$97.5M	$84.1M	5x	as long as short