Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0585%/8h= +64.1% APRpaid last 24h +0.177%

Price spread now: Reya against Katana Perps+0.018%7-day average — · you sell dearer than you buy

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

Long on Katana Perps 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	309.29	0.0109	pay 0.0109% / 8h	1h 03m	$1K	$511K	5x
Short	Reya TAORUSDPERP	309.34	0.0695	get 0.0087% / 1h	3m 33s	$356	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Katana Perps. 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 Katana PerpsbpFee ReyabpOrdersPrice spread, now +0.018%Rate

Funding earned: $122.92
Price spread: +0.018% → 0.000%: $1.77
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Reya: 3 bp × 2 orders: −$6
Net: $114.9
Costs to cover: 0.098%
Break-even: 0.5 days

Slippage unknown: Katana Perps: no order-book sample; 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Katana Perps and 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	−0.0396%	1h	305.88	−1.104%	$163K	$52K	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	309.15	−0.046%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0012%	1h	309.25	−0.013%	$124K	$88K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.15	−0.045%	$45K	$542K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	309.03	−0.084%	$86.7M	$415.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	309.16	−0.042%	$60.2M	$121.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	309.30	+0.003%	$24.9M	$96.9M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	309.62	+0.107%	$80K	$643K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	309.10	−0.061%	$12.3M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	309.40	+0.036%	$116.7M	$126.5M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	309.39	+0.032%	$18.6M	$27.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.07	−0.071%	$34.5M	$45.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	309.46	+0.055%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.15	−0.370%	$40K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.02	−0.088%	$511K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.07	−0.718%	$46K	$270K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	309.46	+0.055%	$76K	$550K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	309.36	+0.023%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	309.24	−0.016%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	309.26	−0.010%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.66	+0.120%	$123K	$371K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	309.26	−0.010%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	309.63	+0.112%	$170K	$998	3x	as long as short
Katana Perps TAO-USDlong	+0.0109%	8h	309.29	long leg	$1K	$511K	5x
Variational Omni TAO	+0.0118%	4h	307.52	−0.571%	$3.7M	$6.7M	—	as long as short
Aster TAOUSDT	+0.0151%	4h	309.17	−0.039%	$1.1M	$7.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0162%	8h	309.49	+0.066%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	309.39	+0.032%	$366K	$369K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	309.15	−0.046%	$441K	—	100x	as long as short
Nado TAO-PERP	+0.0314%	1h	309.17	−0.040%	$845K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	308.78	−0.165%	$4.3M	$9.5M	100x	as long as short
Lighter TAO	+0.0352%	1h	309.53	+0.076%	$1.7M	$5.4M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0391%	1h	309.39	+0.033%	$21K	$1.4M	25x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	309.38	+0.029%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0469%	1h	309.50	+0.068%	$297K	$800K	10x	as long as short
Phoenix TAO	+0.0521%	1h	309.20	−0.029%	$323K	$491K	5x	as long as short
Reya TAORUSDPERPshort	+0.0695%	1h	309.34	+0.018%	$356	—	20x
Extended TAO-USD	+0.0696%	1h	309.38	+0.030%	$838K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	309.41	+0.039%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1021%	1h	309.48	+0.061%	$5.8M	$19.6M	50x	as long as short
RISEx TAO/USDC	+0.1155%	1h	309.35	+0.019%	$421K	$533K	5x	as long as short
Hyperliquid TAO	+0.1193%	1h	309.87	+0.188%	$94.6M	$80.9M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	−0.181%	$22K	$264	12x	as long as short