Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0563%/8h= +61.6% APRpaid last 24h +0.187%

Price spread now: RISEx against Bybit+0.359%45s7-day average −0.007% · 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−$300.295% of the position

Long on Bybit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.512%+$51 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now +0.359%, 7d avg −0.007%

Together, before fees+0.597%+$60 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and RISEx is 0.366% dearer against Bybit than usual: you sell high and buy low: +$37 more if the spread goes back to its 7-day average of −0.007%. The two prices were read 45 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	Bybit TAOUSDT	313.36	0.0277	pay 0.0139% / 4h	3h 31m	$68.7M	$155.1M	50x
Short	RISEx TAO/USDC	314.48	0.0840	get 0.0105% / 1h	31m 52s	$435K	$681K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bybit. 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 BybitbpFee RISExbpOrdersPrice spread, now +0.359%Rate

Funding earned: $118.18
Price spread: +0.359% → −0.007%: $36.61
Slippage, 4 orders: −$12.53
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee RISEx: 3 bp × 2 orders: −$6
Net: $125.26
Costs to cover: 0.295%
Break-even: from the start

Slippage from Bybit: live order book, 2 min ago; RISEx: live order book, 2 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 Bybit live order book, 2 min ago	0.16 bp	8.9 bp −$9	18.5 bp −$185	55.7 bp −$5,572	doesn't fit
Sell RISEx live order book, 2 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	313.52	+0.051%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.36	+0.319%	$50K	$700K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	314.43	+0.341%	$1K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.30	−0.019%	$26.1M	$128.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.30	−0.019%	$14.8M	$49.5M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.36	0.000%	$17.7M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.22	−0.045%	$35.3M	$57.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.14	+0.249%	$86K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.33	−0.010%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.25	−0.035%	$115K	$588K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	313.71	+0.112%	$3.1M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	313.95	+0.189%	$172K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0124%	1h	315.68	+0.740%	$45K	$257K	50x	as long as short
Bulk TAO-USD	+0.0125%	1h	316.13	+0.884%	$168K	$0	10x	as long as short
Binance TAOUSDT	+0.0140%	4h	313.49	+0.041%	$91.3M	$525.9M	75x	as long as short
MEXC TAO_USDT	+0.0142%	4h	313.55	+0.061%	$104.7M	$152.2M	300x	as long as short
GRVT TAO_USDT_Perp	+0.0144%	4h	315.40	+0.651%	$540K	$876K	10x	as long as short
edgeX TAOUSDC	+0.0147%	4h	315.34	+0.633%	$42K	$321K	10x	as long as short
dYdX TAO-USD	+0.0189%	1h	314.48	+0.357%	$126K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0212%	4h	314.12	+0.243%	$53K	$298K	10x	as long as short
Bullet TAO-USD	+0.0220%	1h	313.67	+0.100%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0238%	8h	314.70	+0.427%	$14K	$876	10x	as long as short
Bybit TAOUSDTlong	+0.0277%	4h	313.36	long leg	$68.7M	$155.1M	50x
Aster TAOUSDT	+0.0306%	4h	313.39	+0.011%	$1.2M	$11.1M	50x	as long as short
BingX TAO-USDT	+0.0308%	4h	313.48	+0.038%	—	$38.4M	—	as long as short
Extended TAO-USD	+0.0336%	1h	313.37	+0.002%	$888K	$2.3M	25x	as long as short
Pacifica TAO	+0.0349%	1h	314.63	+0.405%	$369K	$440K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	313.53	+0.054%	$369K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0379%	1h	313.73	+0.119%	$15K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0383%	4h	314.59	+0.393%	$4.8M	$10.7M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	314.77	+0.450%	$99K	$362K	5x	as long as short
Nado TAO-PERP	+0.0491%	1h	313.94	+0.184%	$760K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0504%	1h	313.94	+0.185%	$92.2M	$109.0M	5x	as long as short
Phoenix TAO	+0.0578%	1h	315.80	+0.779%	$318K	$714K	5x	as long as short
Lighter TAO	+0.0584%	1h	314.10	+0.236%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0600%	1h	314.59	+0.393%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0614%	4h	315.43	+0.662%	$5.6M	$10.1M	—	as long as short
Backpack TAO_USDC_PERP	+0.0673%	1h	313.59	+0.073%	$309K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	313.83	+0.150%	$361	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0793%	1h	313.84	+0.152%	$5.9M	$21.1M	50x	as long as short
RISEx TAO/USDCshort	+0.0840%	1h	314.48	+0.359%	$435K	$681K	5x
Coinbase International TAO-PERP-INTX	+0.0944%	1h	313.88	+0.166%	$1.1M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	318.23	+1.554%	$23K	$2K	12x	as long as short