TAO arbitrage explained
Right now Bittensor (TAO) trades on 11 venues we scan: 11 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $288.38 and the highest bid on HTX perp at $288.88.
The widest TAO perpetual spread is between Binance and HTX: long TAO on Binance at $288.38 and short on HTX at $288.88 for +0.17% gross, or +0.01% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.001% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best TAO route is to buy spot on KuCoin and short the perpetual on HTX: +0.10% gross, -0.10% net, with +0.015% a day of funding on the short leg.
Spot–spot TAO arbitrage (buy on KuCoin, withdraw, deposit and sell on Bitget) shows +0.01% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small TAO gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: TAO funding rates · TAO spread charts · Bittensor price · arbitrage scanner for all coins.