Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1055%/8h= +115.5% APRpaid last 24h +0.090%

Price spread now: RISEx against Bitget−0.094%48s7-day average +0.053% · you buy dearer than you sell

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−$330.329% of the position

Long on Bitget Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.408%+$41 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now −0.094%, 7d avg +0.053%

Together, before fees+0.622%+$62 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.147% cheaper against Bitget than usual: you would sell low and buy high (spread −0.094% now, against its 7-day average of +0.053%). If the spread goes back, that is −$15 on $10k: about 11 hours of funding at the current rate (+$32 a day). At the pace of the last 3 days (+0.408% in total) that is about 29 hours. The two prices were read 48 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	Bitget TAOUSDT	303.57	0.0100	pay 0.0050% / 4h	1h 29m	$33.9M	$46.0M	50x
Short	RISEx TAO/USDC	303.28	0.1155	get 0.0144% / 1h	29m 50s	$410K	$545K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.094%Rate

Funding earned: $221.47
Price spread: −0.094% → +0.053%: −$14.68
Slippage, 4 orders: −$14.86
Fee Bitget: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $173.93
Costs to cover: 0.329%
Break-even: 1.5 days

Slippage from Bitget: live order book, 4 min ago; RISEx: live order book, 54 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 Bitget live order book, 4 min ago	0.99 bp	10.7 bp −$11	21.4 bp −$214	55.4 bp −$5,544	doesn't fit
Sell RISEx live order book, 54 min ago	0.65 bp	7.5 bp −$8	32.6 bp −$326	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
dYdX TAO-USD	0.0000%	1h	302.58	−0.325%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	302.95	−0.204%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.04	−0.175%	$45K	$537K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	303.42	−0.049%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.52	−0.016%	$84.9M	$413.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.54	−0.010%	$58.7M	$121.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.50	−0.023%	$24.4M	$95.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.29	−0.092%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	303.38	−0.064%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.20	−0.122%	$12.1M	$48.8M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	303.45	−0.040%	$110.9M	$125.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	303.52	−0.016%	$18.4M	$27.2M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	303.57	long leg	$33.9M	$46.0M	50x
BingX TAO-USDT	+0.0100%	4h	303.47	−0.033%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.79	+0.071%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.27	−0.100%	$39K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	302.58	−0.325%	$500K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.45	−0.040%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.30	−0.089%	$74K	$595K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.27	−0.099%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.01	−0.184%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	302.98	−0.194%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.25	−0.105%	$122K	$364K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.06	−0.168%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.22	−0.117%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	302.95	−0.204%	$620	$496K	5x	as long as short
Paradex TAO-USD-PERP	+0.0154%	8h	303.02	−0.181%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.01	−0.184%	$358K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	302.95	−0.203%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0276%	1h	303.05	−0.171%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.24	−0.109%	$4.2M	$9.3M	100x	as long as short
Nado TAO-PERP	+0.0344%	1h	302.91	−0.217%	$817K	$1.9M	10x	as long as short
Lighter TAO	+0.0376%	1h	303.37	−0.066%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	303.21	−0.119%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0435%	1h	303.53	−0.013%	$378K	$756K	10x	as long as short
Phoenix TAO	+0.0521%	1h	304.00	+0.142%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.07	−0.165%	$349	—	20x	as long as short
Extended TAO-USD	+0.0816%	1h	303.50	−0.023%	$825K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	303.21	−0.119%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.09	−0.160%	$5.7M	$19.7M	50x	as long as short
Hyperliquid TAO	+0.1058%	1h	303.88	+0.102%	$92.2M	$80.5M	5x	as long as short
RISEx TAO/USDCshort	+0.1155%	1h	303.28	−0.094%	$410K	$545K	5x
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.700%	$22K	$264	12x	as long as short