Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0407%/8h= +44.5% APRpaid last 24h −0.323%

Price spread now: Bulk against Variational Omni−0.012%7-day average −0.157% · you buy dearer than you sell

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

Long on Variational Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.386%−$39 on $10k

Price spread, last 4 days (all we have)−0.405%−$40 · spread now −0.012%, 7d avg −0.157%

Together, before fees−0.790%+ Points / potential airdropVariational Omni: Active · farm board−$79 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Bulk is 0.146% dearer against Variational Omni than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.157%. Mind the row above: over the last 3 days funding on this pair cost −0.386%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TAO	314.38	0.0526	pay 0.0263% / 4h	24m 19s	$5.7M	$9.9M	—
Short	Bulk TAO-USD	314.34	0.0933	get 0.0117% / 1h	24m 19s	$167K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Variational Omni. 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 Variational OmnibpFee BulkbpOrdersPrice spread, now −0.012%Rate

Funding earned: $85.42
Price spread: −0.012% → −0.157%: $14.57
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $92.99
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Bulk: live order book, 35 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 Variational Omni RFQ quote, 5 min ago	3.20 bp	doesn't fit	15.2 bp −$152	doesn't fit	doesn't fit
Sell Bulk live order book, 35 min ago	0.16 bp	4.8 bp −$5	9.4 bp −$94	21.9 bp −$2,186	33.1 bp −$16.6K

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	315.28	+0.288%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.32	+0.300%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.02	+0.204%	$5.5M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.50	+0.357%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.15	+0.246%	$645	$795K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.44	+0.338%	$91.1M	$494.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.54	+0.370%	$68.1M	$148.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.40	+0.325%	$26.0M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	+0.262%	$13.0M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.37	+0.316%	$110.7M	$144.0M	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	315.27	+0.284%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.24	+0.275%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.38	+0.319%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.73	+0.113%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.20	−0.057%	$520K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.96	+0.185%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.26	+0.281%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.44	+0.337%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.00	+0.198%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.70	+0.103%	$110K	$534K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.01	+0.201%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.47	+0.348%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0131%	4h	315.37	+0.316%	$57K	$273K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0148% / S +0.0125%	1h	315.24	+0.276%	$420K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0167%	8h	315.56	+0.376%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0191%	1h	315.41	+0.328%	$802K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0192%	4h	315.22	+0.267%	$1.2M	$10.3M	50x	as long as short
Extended TAO-USD	+0.0224%	1h	315.28	+0.289%	$922K	$2.4M	25x	as long as short
Hyperliquid TAO	+0.0256%	1h	315.63	+0.399%	$92.9M	$106.4M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0277%	1h	315.18	+0.257%	$35K	$1.7M	25x	as long as short
01 Exchange TAOUSD	+0.0296%	1h	315.68	+0.415%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0304%	1h	315.54	+0.369%	$1.5M	$6.5M	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.99	+0.195%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.65	+0.405%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0347%	1h	315.29	+0.290%	$316K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.32	+0.300%	$360K	$412K	10x	as long as short
Variational Omni TAOlong	+0.0526%	4h	314.38	long leg	$5.7M	$9.9M	—
Phoenix TAO	+0.0581%	1h	316.30	+0.612%	$315K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.41	+0.330%	$363	—	20x	as long as short
Bulk TAO-USDshort	+0.0933%	1h	314.34	−0.012%	$167K	$2K	10x
RISEx TAO/USDC	+0.0991%	1h	315.51	+0.362%	$437K	$650K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	314.58	+0.065%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.423%	$23K	$2K	12x	as long as short