Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0566%/8h= +62.0% APRpaid last 24h +0.144%

Price spread now: Reya against Aster−0.135%56s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

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—+ Points / potential airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.135% cheaper against Aster than usual: you would sell low and buy high (spread −0.135% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 19 hours of funding at the current rate (+$17 a day). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	313.58	0.0131	pay 0.0065% / 4h	3h 55m	$1.2M	$10.4M	50x
Short	Reya TAORUSDPERP	313.16	0.0697	get 0.0087% / 1h	55m 29s	$360	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. 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 AsterbpFee ReyabpOrdersPrice spread, now −0.135%Rate

Funding earned: $118.89
Price spread: −0.135% → 0.000%: −$13.54
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $91.35
Costs to cover: 0.140%
Break-even: 1.6 days

Slippage unknown: Aster: live order book, 3 min ago; Reya: 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 Aster live order book, 3 min ago	2.70 bp	8.3 bp −$8	20.1 bp −$201	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Kraken Futures PF_TAOUSD	−0.0346%	1h	313.43	−0.047%	$5.5M	$20.6M	50x	as long as short
Gate TAO_USDT	−0.0126%	4h	314.10	+0.166%	$13.0M	$49.2M	50x	as long as short
Popdex TAOUSDT	−0.0032%	1h	314.70	+0.357%	$43K	$653K	20x	as long as short
dYdX TAO-USD	0.0000%	1h	314.25	+0.212%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.33	−0.079%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.50	+0.293%	$2K	$805K	5x	as long as short
Hyperliquid TAO	+0.0100%	1h	313.93	+0.112%	$92.1M	$106.9M	5x	as long as short
Pacifica TAO	+0.0100%	1h	314.12	+0.171%	$358K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.78	+0.382%	$90.9M	$495.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.85	+0.405%	$67.8M	$149.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	+0.389%	$26.0M	$120.8M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.80	+0.389%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.58	+0.319%	$101.0M	$143.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.56	−0.006%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.25	+0.214%	$35.1M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.55	+0.309%	—	$33.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.50	+0.295%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.64	+0.018%	$532K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.57	+0.316%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.63	+0.335%	$78K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.49	−0.029%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.05	−0.169%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.90	−0.217%	$109K	$535K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.57	−0.004%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	313.61	+0.009%	$52K	$271K	10x	as long as short
Aster TAOUSDTlong	+0.0131%	4h	313.58	long leg	$1.2M	$10.4M	50x
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	313.31	−0.087%	$425K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0145%	8h	313.92	+0.109%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0192%	1h	314.48	+0.286%	$918K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0216%	1h	314.72	+0.363%	$799K	$2.2M	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	314.76	+0.376%	$101K	$441K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0263%	1h	313.67	+0.028%	$22K	$1.7M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0294%	1h	313.48	−0.032%	$311K	$914K	10x	as long as short
01 Exchange TAOUSD	+0.0328%	1h	314.79	+0.386%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.29	−0.093%	$4.5M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0362%	4h	313.70	+0.038%	$5.6M	$9.9M	—	as long as short
Lighter TAO	+0.0424%	1h	314.63	+0.333%	$1.5M	$6.4M	5x	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.612%	$314K	$695K	5x	as long as short
Reya TAORUSDPERPshort	+0.0697%	1h	313.16	−0.135%	$360	—	20x
RISEx TAO/USDC	+0.0816%	1h	314.68	+0.349%	$435K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	314.04	+0.147%	$1.5M	$6.6M	50x	as long as short
Phemex TAOUSDT	+0.1467%	4h	313.46	−0.038%	$3.2M	$8.1M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+1.304%	$23K	$2K	12x	as long as short