Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1059%/8h= +115.9% APRpaid last 24h +0.138%

Price spread now: RISEx against HTX+0.249%7-day average +0.118% · 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−$191as in the Price arb table

costs, in and out, $10k−$2042.038% of the position

Long on HTX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.482%+$48 on $10k

Price spread, last 4 days (all we have)−0.185%−$18 · spread now +0.249%, 7d avg +0.118%

Together, before fees+0.297%+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and RISEx is 0.131% dearer against HTX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TAO-USDT	315.57	0.0100	pay 0.0050% / 4h	1h 12m	$128K	$482K	20x
Short	RISEx TAO/USDC	316.36	0.1159	get 0.0145% / 1h	12m 00s	$444K	$657K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against HTX. 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 HTXbpFee RISExbpOrdersPrice spread, now +0.249%Rate

Funding earned: $222.31
Price spread: +0.249% → +0.118%: $13.06
Slippage, 4 orders: −$185.76
Fee HTX: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $31.61
Costs to cover: 2.038%
Break-even: 6.0 days

Slippage from HTX: live order book, 51 min ago; RISEx: live order book, 52 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 HTX live order book, 51 min ago	18.11 bp	110.6 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 52 min ago	3.45 bp	6.5 bp −$7	doesn't fit	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	−0.1916%	1h	325.17	+3.042%	$172K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.15	+0.184%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.32	−0.080%	$20K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0057%	1h	315.57	0.000%	$16K	$1.6M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.37	+0.254%	$40K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.79	+0.069%	$91.8M	$489.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	+0.136%	$26.0M	$119.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.50	−0.022%	$12.9M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.97	+0.127%	$101.2M	$143.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.88	+0.098%	$17.6M	$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	315.67	+0.032%	$35.2M	$55.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	323.66	+2.564%	$36K	$303K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.11	+0.171%	$87K	$794K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.20	−0.117%	$2K	$1.9M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	315.57	long leg	$128K	$482K	20x
Aevo TAO-PERP	+0.0104%	1h	315.46	−0.035%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	316.04	+0.149%	$672	$776K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	315.27	−0.095%	$57K	$282K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0157% / S +0.0112%	1h	315.32	−0.078%	$429K	—	100x	as long as short
Bullet TAO-USD	+0.0199%	1h	315.43	−0.045%	$12K	$18K	20x	as long as short
Phemex TAOUSDT	+0.0219%	4h	315.93	+0.114%	$3.4M	$7.9M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0224%	4h	321.44	+1.860%	$533K	$965K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.46	−0.034%	$5.6M	$20.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0260%	8h	316.36	+0.251%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0290%	4h	315.47	−0.031%	$1.2M	$10.0M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	+0.136%	$3.8M	$11.3M	100x	as long as short
Bybit TAOUSDT	+0.0442%	4h	316.17	+0.190%	$69.3M	$146.0M	50x	as long as short
Pacifica TAO	+0.0448%	1h	316.36	+0.250%	$374K	$405K	10x	as long as short
BingX TAO-USDT	+0.0448%	4h	315.70	+0.041%	—	$30.4M	—	as long as short
Phoenix TAO	+0.0504%	1h	324.80	+2.925%	$340K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.72	+0.364%	$100K	$488K	5x	as long as short
ApeX Omni TAOUSDT	+0.0524%	1h	324.14	+2.716%	$48K	$253K	50x	as long as short
Nado TAO-PERP	+0.0619%	1h	315.87	+0.094%	$790K	$2.2M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.93	+0.114%	$363	—	20x	as long as short
Extended TAO-USD	+0.0704%	1h	315.99	+0.132%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0720%	1h	316.35	+0.247%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0744%	1h	315.90	+0.104%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0831%	4h	317.31	+0.552%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0909%	1h	315.75	+0.057%	$314K	$923K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.00	+0.136%	$1.5M	$6.8M	50x	as long as short
Hyperliquid TAO	+0.1068%	1h	315.84	+0.086%	$95.7M	$104.5M	5x	as long as short
RISEx TAO/USDCshort	+0.1159%	1h	316.36	+0.249%	$444K	$657K	5x
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.917%	$23K	$2K	12x	as long as short