Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0541%/8h= +59.2% APRpaid last 24h +0.192%

Price spread now: RISEx against Binance+0.657%65s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.275% of the position

Long on Binance Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.518%+$52 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now +0.657%, 7d avg +0.019%

Together, before fees+0.300%+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and RISEx is 0.638% dearer against Binance than usual: you sell high and buy low: +$64 more if the spread goes back to its 7-day average of +0.019%. The two prices were read 65 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	Binance TAOUSDT	320.63	0.0161	pay 0.0080% / 4h	2h 55m	$94.4M	$519.9M	75x
Short	RISEx TAO/USDC	322.74	0.0701	get 0.0088% / 1h	55m 33s	$446K	$714K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Binance. 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 BinancebpFee RISExbpOrdersPrice spread, now +0.657%Rate

Funding earned: $113.53
Price spread: +0.657% → +0.019%: $63.79
Slippage, 4 orders: −$11.47
Fee Binance: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $149.84
Costs to cover: 0.275%
Break-even: from the start

Slippage from Binance: live order book, 3 min ago; RISEx: live order book, 38 min ago.

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 Binance live order book, 3 min ago	0.16 bp	8.2 bp −$8	15.2 bp −$152	39.5 bp −$3,952	doesn't fit
Sell RISEx live order book, 38 min ago	2.70 bp	5.8 bp −$6	32.7 bp −$327	doesn't fit	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
Bulk TAO-USD	−0.0985%	1h	321.65	+0.317%	$171K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	+1.115%	$20K	—	150x	as long as short
Bybit TAOUSDT	+0.0100%	4h	320.45	−0.058%	$70.4M	$155.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.20	−0.136%	$26.8M	$130.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.30	−0.104%	$15.3M	$48.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.91	+0.086%	$17.6M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.08	−0.173%	$36.1M	$56.8M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	322.38	+0.544%	$46K	$256K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.55	−0.026%	$84K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.01	+0.429%	$2K	$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	322.42	+0.557%	$118K	$554K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	321.92	+0.401%	$3.2M	$8.1M	50x	as long as short
Popdex TAOUSDT	+0.0104%	1h	320.44	−0.061%	$50K	$690K	20x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	320.39	−0.076%	$656	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	322.32	+0.527%	$177K	$998	3x	as long as short
MEXC TAO_USDT	+0.0154%	4h	320.82	+0.058%	$106.6M	$149.2M	300x	as long as short
BingX TAO-USDT	+0.0158%	4h	320.61	−0.008%	—	$39.0M	—	as long as short
Binance TAOUSDTlong	+0.0161%	4h	320.63	long leg	$94.4M	$519.9M	75x
edgeX TAOUSDC	+0.0161%	4h	322.73	+0.654%	$43K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0223%	8h	320.69	+0.018%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0247%	4h	322.31	+0.523%	$54K	$274K	10x	as long as short
Extended TAO-USD	+0.0296%	1h	320.45	−0.059%	$969K	$2.2M	25x	as long as short
Pacifica TAO	+0.0301%	1h	320.96	+0.101%	$374K	$439K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0308%	4h	322.97	+0.728%	$549K	$826K	10x	as long as short
Aster TAOUSDT	+0.0325%	4h	320.66	+0.007%	$1.3M	$11.2M	50x	as long as short
Lighter TAO	+0.0344%	1h	321.19	+0.174%	$1.6M	$6.6M	5x	as long as short
Arcus TAO-USD	+0.0364%	1h	321.16	+0.164%	$101K	$329K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0365% / S −0.0107%	1h	322.05	+0.443%	$379K	—	100x	as long as short
BloFin TAO-USDT	+0.0396%	4h	323.31	+0.834%	$4.9M	$11.0M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0488%	1h	322.23	+0.497%	$20K	$1.9M	25x	as long as short
Variational Omni TAO	+0.0521%	4h	322.30	+0.520%	$5.7M	$9.8M	—	as long as short
Bullet TAO-USD	+0.0537%	1h	322.47	+0.572%	$12K	$17K	20x	as long as short
Phoenix TAO	+0.0578%	1h	323.80	+0.987%	$326K	$712K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0674%	1h	322.36	+0.539%	$6.3M	$20.9M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	320.36	−0.085%	$368	—	20x	as long as short
RISEx TAO/USDCshort	+0.0701%	1h	322.74	+0.657%	$446K	$714K	5x
Nado TAO-PERP	+0.0722%	1h	320.15	−0.151%	$733K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	320.76	+0.039%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	322.51	+0.585%	$1.1M	$7.5M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0848%	1h	322.18	+0.482%	$302K	$1.1M	10x	as long as short
Hyperliquid TAO	+0.1073%	1h	320.72	+0.027%	$96.8M	$110.2M	5x	as long as short
dYdX TAO-USD	+0.1238%	1h	320.43	−0.064%	$270K	$232K	5x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	327.96	+2.285%	$24K	$2K	12x	as long as short