Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0590%/8h= +64.7% APRpaid last 24h +0.178%

Price spread now: Reya against GRVT−0.310%7-day average — · you buy dearer than you sell

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

Long on GRVT 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 airdropGRVT: Active · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.310% cheaper against GRVT than usual: you would sell low and buy high (spread −0.310% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 42 hours of funding at the current rate (+$18 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT TAO_USDT_Perp	316.10	0.0106	pay 0.0053% / 4h	42m 49s	$526K	$944K	10x
Short	Reya TAORUSDPERP	315.12	0.0696	get 0.0087% / 1h	42m 49s	$362	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against GRVT. 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 GRVTbpFee ReyabpOrdersPrice spread, now −0.310%Rate

Funding earned: $123.99
Price spread: −0.310% → 0.000%: −$31.03
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: $77.96
Costs to cover: 0.150%
Break-even: 2.6 days

Slippage unknown: GRVT: live order book, 15 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 GRVT live order book, 15 min ago	1.59 bp	11.9 bp −$12	33.3 bp −$333	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
Bulk TAO-USD	−0.0482%	1h	315.13	−0.308%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.76	−0.425%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.94	−0.369%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.98	−0.355%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.27	−0.264%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.99	−0.351%	$90.8M	$489.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.00	−0.349%	$25.9M	$119.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.80	−0.412%	$12.9M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.02	−0.343%	$105.6M	$142.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.80	−0.412%	$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	314.84	−0.400%	$35.2M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.77	−0.105%	$35K	$304K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.07	−0.011%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.05	−0.333%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.18	−0.293%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.60	−0.159%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.93	−0.371%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.04	−0.336%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	314.98	−0.355%	$645	$785K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.99	−0.352%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perplong	+0.0106%	4h	316.10	long leg	$526K	$944K	10x
Orderly PERP_TAO_USDC	+0.0124%	4h	314.98	−0.355%	$57K	$275K	10x	as long as short
Bybit TAOUSDT	+0.0134%	4h	315.16	−0.298%	$68.6M	$146.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0117%	1h	314.92	−0.373%	$427K	—	100x	as long as short
BingX TAO-USDT	+0.0176%	4h	314.97	−0.359%	—	$30.1M	—	as long as short
Paradex TAO-USD-PERP	+0.0191%	8h	315.71	−0.125%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0200%	1h	315.35	−0.239%	$806K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0220%	4h	315.11	−0.314%	$1.2M	$10.1M	50x	as long as short
01 Exchange TAOUSD	+0.0232%	1h	315.24	−0.273%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0263%	1h	315.18	−0.292%	$93.8M	$105.2M	5x	as long as short
Extended TAO-USD	+0.0312%	1h	314.86	−0.394%	$922K	$2.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0313%	1h	315.06	−0.330%	$316K	$910K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.07	−0.327%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.85	−0.080%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.91	−0.061%	$362K	$409K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0400%	1h	315.03	−0.339%	$11K	$1.6M	25x	as long as short
Lighter TAO	+0.0408%	1h	315.22	−0.279%	$1.5M	$6.5M	5x	as long as short
Phoenix TAO	+0.0581%	1h	316.10	−0.001%	$315K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	−0.053%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERPshort	+0.0696%	1h	315.12	−0.310%	$362	—	20x
RISEx TAO/USDC	+0.0991%	1h	315.33	−0.244%	$437K	$659K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.38	+0.088%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.109%	$23K	$2K	12x	as long as short