Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0292%/8h= +32.0% APRpaid last 24h +0.120%

Price spread now: Lighter against Gate+0.150%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$570.568% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.224%+$22 on $10k

Price spread, last 7 days−0.126%−$13 · spread now +0.150%, 7d avg +0.066%

Together, before fees+0.097%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Lighter is 0.085% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	314.30	0.0100	pay 0.0050% / 4h	48m 08s	$12.9M	$49.4M	50x
Short	Lighter TAO	314.77	0.0392	get 0.0049% / 1h	48m 08s	$1.5M	$6.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.150%Rate

Funding earned: $61.32
Price spread: +0.150% → +0.066%: $8.48
Slippage, 4 orders: −$41.78
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: $13.02
Costs to cover: 0.568%
Break-even: 5.5 days

Slippage from Gate: live order book, 6 min ago; Lighter: live order book, 5 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 Gate live order book, 6 min ago	4.75 bp	23.8 bp −$24	40.8 bp −$408	59.8 bp −$5,980	97.0 bp −$48.5K
Sell Lighter live order book, 5 min ago	2.10 bp	2.7 bp −$3	18.9 bp −$189	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
Bulk TAO-USD	−0.0499%	1h	315.15	+0.270%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.34	+0.014%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.52	+0.070%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.40	+0.033%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.10	+0.255%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.55	+0.080%	$90.7M	$489.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	+0.159%	$25.9M	$119.0M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	314.30	long leg	$12.9M	$49.4M	50x
MEXC TAO_USDT	+0.0100%	4h	314.40	+0.032%	$104.8M	$142.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.38	+0.025%	$17.5M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	314.77	+0.150%	$35.2M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.19	+0.600%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.46	+0.051%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.77	+0.150%	$89K	$789K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.79	+0.156%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.33	+0.010%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.48	+0.057%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.36	+0.019%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.57	+0.084%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	314.70	+0.127%	$2K	$784K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0122%	4h	316.28	+0.629%	$527K	$952K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.63	+0.105%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0153% / S +0.0116%	1h	314.51	+0.068%	$427K	—	100x	as long as short
Bybit TAOUSDT	+0.0171%	4h	314.67	+0.118%	$68.6M	$146.2M	50x	as long as short
01 Exchange TAOUSD	+0.0184%	1h	315.08	+0.248%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0197%	8h	314.59	+0.093%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0210%	4h	314.67	+0.117%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0232%	1h	315.17	+0.277%	$94.1M	$104.8M	5x	as long as short
Nado TAO-PERP	+0.0235%	1h	314.89	+0.188%	$816K	$2.2M	10x	as long as short
BingX TAO-USDT	+0.0244%	4h	314.89	+0.188%	—	$30.1M	—	as long as short
Backpack TAO_USDC_PERP	+0.0290%	1h	314.95	+0.207%	$315K	$910K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0340%	1h	314.54	+0.077%	$12K	$1.6M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.22	−0.025%	$4.5M	$10.8M	100x	as long as short
Extended TAO-USD	+0.0344%	1h	314.38	+0.025%	$922K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.12	+0.261%	$99K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	314.67	+0.118%	$361K	$409K	10x	as long as short
Lighter TAOshort	+0.0392%	1h	314.77	+0.150%	$1.5M	$6.4M	5x
Phoenix TAO	+0.0581%	1h	314.50	+0.064%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0651%	4h	314.33	+0.010%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.75	+0.144%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.18	+0.282%	$434K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.77	+0.468%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.689%	$23K	$2K	12x	as long as short