Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0356%/8h= +38.9% APRpaid last 24h +0.105%

Price spread now: Reya against BloFin−0.585%286s7-day average — · you buy dearer than you sell

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

Long on BloFin 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

Funding pays, the price is against you. Reya is 0.585% cheaper against BloFin than usual: you would sell low and buy high (spread −0.585% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$59 on $10k: about 5.5 days of funding at the current rate (+$11 a day). The two prices were read 286 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	BloFin TAO-USDT	311.16	0.0340	pay 0.0170% / 4h	2h 43m	$4.4M	$10.7M	100x
Short	Reya TAORUSDPERP	309.34	0.0696	get 0.0087% / 1h	43m 58s	$356	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.585%Rate

Funding earned: $74.69
Price spread: −0.585% → 0.000%: −$58.51
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$1.82
Costs to cover: 0.180%
Break-even: 7.2 days

Slippage unknown: BloFin: live order book, 5 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 BloFin live order book, 5 min ago	5.00 bp	12.9 bp −$13	22.6 bp −$226	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	308.57	−0.833%	$123K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	309.31	−0.596%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.53	−0.524%	$47K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	309.61	−0.499%	$89.3M	$458.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	309.80	−0.437%	$25.2M	$108.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	309.20	−0.630%	$12.6M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	309.59	−0.505%	$101.7M	$136.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	309.46	−0.546%	$18.0M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.57	−0.511%	$34.4M	$52.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.63	−0.493%	$34K	$300K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	311.49	+0.105%	$519K	$964K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.89	−0.408%	$46K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	309.58	−0.508%	$56K	$289K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	309.36	−0.578%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.80	−0.437%	$127K	$470K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.12	−0.334%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	309.28	−0.604%	$633	$674K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0092%	1h	309.18	−0.635%	$426K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0171%	1h	309.50	−0.535%	$5.5M	$20.3M	50x	as long as short
Aster TAOUSDT	+0.0172%	4h	309.49	−0.537%	$1.3M	$9.1M	50x	as long as short
Bullet TAO-USD	+0.0234%	1h	309.50	−0.532%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0269%	8h	309.00	−0.693%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0280%	1h	309.44	−0.553%	$77K	$643K	5x	as long as short
Pacifica TAO	+0.0285%	1h	309.01	−0.691%	$365K	$378K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	309.45	−0.550%	$82K	$551K	5x	as long as short
BloFin TAO-USDTlong	+0.0340%	4h	311.16	long leg	$4.4M	$10.7M	100x
Deribit TAO_USDC-PERPETUAL	+0.0354%	1h	309.60	−0.501%	$15K	$1.5M	25x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+1.437%	$23K	$2K	12x	as long as short
Phemex TAOUSDT	+0.0474%	4h	309.36	−0.578%	$3.4M	$8.0M	50x	as long as short
Nado TAO-PERP	+0.0578%	1h	309.53	−0.525%	$757K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	309.80	−0.437%	$324K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	309.64	−0.488%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0696%	4h	309.05	−0.679%	$5.4M	$8.8M	—	as long as short
Reya TAORUSDPERPshort	+0.0696%	1h	309.34	−0.585%	$356	—	20x
BingX TAO-USDT	+0.0740%	4h	309.54	−0.521%	—	$31.1M	—	as long as short
Bybit TAOUSDT	+0.0775%	4h	309.79	−0.440%	$63.3M	$135.3M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0853%	1h	309.75	−0.453%	$313K	$814K	10x	as long as short
Extended TAO-USD	+0.0976%	1h	309.80	−0.439%	$890K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	310.07	−0.350%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	309.44	−0.553%	$411K	$605K	5x	as long as short
Hyperliquid TAO	+0.1298%	1h	309.94	−0.392%	$98.3M	$92.9M	5x	as long as short
Lighter TAO	+0.1408%	1h	309.92	−0.399%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+0.399%	$166K	$40K	10x	as long as short