Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0594%/8h= +65.1% APRpaid last 24h +0.180%

Price spread now: Reya against Bitget+0.076%7-day average — · you sell dearer than you buy

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

Long on Bitget 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 airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Reya is 0.076% dearer against Bitget than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	305.28	0.0100	pay 0.0050% / 4h	2h 26m	$34.2M	$44.4M	50x
Short	Reya TAORUSDPERP	305.51	0.0694	get 0.0087% / 1h	26m 33s	$351	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bitget. 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 BitgetbpFee ReyabpOrdersPrice spread, now +0.076%Rate

Funding earned: $124.79
Price spread: +0.076% → 0.000%: $7.56
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $114.36
Costs to cover: 0.180%
Break-even: 0.6 days

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	1.64 bp	12.6 bp −$13	26.0 bp −$260	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
dYdX TAO-USD	0.0000%	1h	305.59	+0.101%	$128K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	304.95	−0.108%	$19K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0041%	1h	305.12	−0.053%	$15K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.13	−0.049%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	305.58	+0.098%	$361K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.26	−0.007%	$85.4M	$403.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	305.51	+0.075%	$59.0M	$118.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.40	+0.039%	$25.1M	$92.6M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	305.69	+0.134%	$137K	$596K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	+0.586%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	305.60	+0.105%	$12.2M	$48.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.64	+0.118%	$113.5M	$123.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	305.35	+0.023%	$18.4M	$26.4M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	305.28	long leg	$34.2M	$44.4M	50x
BingX TAO-USDT	+0.0100%	4h	305.34	+0.020%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.737%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.34	+0.674%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.77	+0.815%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.19	+0.626%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.63	+0.115%	$86K	$667K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.77	+0.161%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.03	−0.082%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.95	−0.108%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	305.02	−0.085%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	304.80	−0.157%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.17	−0.034%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	305.35	+0.023%	$873	$434K	5x	as long as short
Aster TAOUSDT	+0.0145%	4h	305.36	+0.026%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0162%	8h	305.66	+0.125%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.92	−0.117%	$435K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	305.60	+0.105%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0307%	1h	305.26	−0.007%	$833K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.11	−0.056%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0512%	1h	305.41	+0.043%	$3K	$4K	5x	as long as short
Reya TAORUSDPERPshort	+0.0694%	1h	305.51	+0.076%	$351	—	20x
Extended TAO-USD	+0.0696%	1h	305.32	+0.014%	$897K	$2.0M	25x	as long as short
Lighter TAO	+0.0912%	1h	306.19	+0.299%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	306.30	+0.334%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1033%	1h	305.22	−0.020%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	305.35	+0.023%	$408K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1193%	1h	305.16	−0.039%	$441K	$715K	10x	as long as short
Hyperliquid TAO	+0.1713%	1h	306.03	+0.246%	$93.4M	$76.0M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	+0.223%	$22K	$171	12x	as long as short