Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0238%/8h= +26.1% APRpaid last 24h +0.067%

Price spread now: Lighter against BloFin+0.022%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 4 days (all we have)+0.045%+$5 · spread now +0.022%, 7d avg +0.054%

Together, before fees−0.157%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.031% cheaper against BloFin than usual: you would sell low and buy high (spread +0.022% now, against its 7-day average of +0.054%). If the spread goes back, that is −$3 on $10k: about 11 hours of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.203%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	316.72	0.0402	pay 0.0201% / 4h	3h 47m	$4.8M	$10.9M	100x
Short	Lighter TAO	316.79	0.0640	get 0.0080% / 1h	47m 23s	$1.6M	$6.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.022%Rate

Funding earned: $50.03
Price spread: +0.022% → +0.054%: −$3.15
Slippage, 4 orders: −$15.69
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $19.2
Costs to cover: 0.277%
Break-even: 4.3 days

Slippage from BloFin: live order book, 6 min ago; Lighter: live order book, 6 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 BloFin live order book, 6 min ago	0.32 bp	7.7 bp −$8	13.0 bp −$130	37.2 bp −$3,724	doesn't fit
Sell Lighter live order book, 6 min ago	1.82 bp	5.9 bp −$6	19.8 bp −$198	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.25	−0.149%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0071%	1h	316.80	+0.024%	$127K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.21	+0.155%	$50K	$717K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	317.01	+0.092%	$920	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.50	−0.069%	$26.4M	$131.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.40	−0.101%	$14.8M	$49.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.64	−0.025%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.32	−0.126%	$35.6M	$57.8M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.88	+0.051%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.94	+0.069%	$1K	$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	316.41	−0.098%	$116K	$589K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.55	−0.054%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.81	+0.028%	$174K	$998	3x	as long as short
MEXC TAO_USDT	+0.0160%	4h	316.63	−0.028%	$104.3M	$151.6M	300x	as long as short
Binance TAOUSDT	+0.0162%	4h	316.61	−0.035%	$92.7M	$531.8M	75x	as long as short
edgeX TAOUSDC	+0.0164%	4h	316.63	−0.027%	$42K	$321K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0204%	4h	316.55	−0.054%	$54K	$299K	10x	as long as short
Bullet TAO-USD	+0.0225%	1h	316.59	−0.041%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0228%	4h	316.92	+0.062%	$542K	$887K	10x	as long as short
Bulk TAO-USD	+0.0233%	1h	316.19	−0.167%	$168K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0251%	8h	317.25	+0.169%	$14K	$876	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0289%	1h	316.57	−0.046%	$15K	$1.9M	25x	as long as short
ApeX Omni TAOUSDT	+0.0294%	1h	316.58	−0.044%	$46K	$259K	50x	as long as short
Aster TAOUSDT	+0.0322%	4h	316.68	−0.013%	$1.2M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	317.23	+0.162%	$372K	$442K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0366% / S −0.0107%	1h	316.80	+0.025%	$372K	—	100x	as long as short
Extended TAO-USD	+0.0376%	1h	316.59	−0.042%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDTlong	+0.0402%	4h	316.72	long leg	$4.8M	$10.9M	100x
Arcus TAO-USD	+0.0404%	1h	317.36	+0.202%	$100K	$377K	5x	as long as short
Bybit TAOUSDT	+0.0526%	4h	316.63	−0.028%	$69.7M	$156.2M	50x	as long as short
Hyperliquid TAO	+0.0531%	1h	316.88	+0.051%	$93.3M	$110.1M	5x	as long as short
Nado TAO-PERP	+0.0565%	1h	316.73	+0.004%	$770K	$2.0M	10x	as long as short
BingX TAO-USDT	+0.0568%	4h	316.55	−0.054%	—	$37.3M	—	as long as short
Phoenix TAO	+0.0578%	1h	315.60	−0.354%	$317K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	317.56	+0.265%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0612%	4h	316.00	−0.226%	$5.6M	$10.1M	—	as long as short
Lighter TAOshort	+0.0640%	1h	316.79	+0.022%	$1.6M	$6.6M	5x
Reya TAORUSDPERP	+0.0698%	1h	316.52	−0.063%	$364	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0786%	1h	317.22	+0.158%	$317K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0786%	1h	316.62	−0.031%	$6.0M	$21.3M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	316.95	+0.072%	$449K	$670K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	316.98	+0.082%	$1.2M	$7.3M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	319.36	+0.834%	$23K	$2K	12x	as long as short