Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0612%/8h= −67.0% APRpaid last 24h −0.112%

Price spread now: KuCoin against Lighter−0.043%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 7 days+0.064%+$6 · spread now −0.043%, 7d avg −0.038%

Together, before fees−0.145%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: −$18 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.209% in total (about -10.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	316.21	0.0712	pay 0.0089% / 1h	5m 57s	$1.6M	$6.4M	5x
Short	KuCoin TAOUSDTM	316.07	0.0100	get 0.0050% / 4h	1h 05m	$17.6M	$31.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$128.52
Price spread: −0.043% → −0.038%: −$0.55
Slippage, 4 orders: −$36.38
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$177.45
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; KuCoin: live order book, 3 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 Lighter live order book, 7 min ago	3.01 bp	3.8 bp −$4	22.4 bp −$224	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.73 bp	20.7 bp −$21	29.0 bp −$290	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	+2.835%	$172K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.01	−0.062%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.72	−0.155%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.25	+0.014%	$40K	$687K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.31	+0.032%	$91.9M	$490.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.20	−0.002%	$26.0M	$119.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.00	−0.065%	$13.0M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.11	−0.031%	$104.6M	$144.2M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	316.07	−0.043%	$17.6M	$31.7M	75x
Bitget TAOUSDT	+0.0100%	4h	316.06	−0.046%	$35.3M	$56.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.23	+0.322%	$36K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.15	−0.018%	$88K	$797K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.61	−0.189%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.95	−0.081%	$109K	$529K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.95	−0.083%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	315.96	−0.078%	$673	$778K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	315.70	−0.160%	$57K	$275K	10x	as long as short
Bullet TAO-USD	+0.0143%	1h	316.03	−0.056%	$12K	$18K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0156% / S +0.0113%	1h	315.72	−0.155%	$428K	—	100x	as long as short
Phemex TAOUSDT	+0.0177%	4h	315.92	−0.091%	$3.2M	$8.1M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0178%	4h	317.27	+0.337%	$528K	$965K	10x	as long as short
Paradex TAO-USD-PERP	+0.0240%	8h	316.52	+0.099%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0248%	1h	315.87	−0.106%	$5.6M	$20.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0249%	1h	315.89	−0.100%	$15K	$1.7M	25x	as long as short
Aster TAOUSDT	+0.0270%	4h	316.03	−0.057%	$1.2M	$10.1M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.76	−0.141%	$4.5M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0349%	1h	316.96	+0.238%	$47K	$252K	50x	as long as short
Bybit TAOUSDT	+0.0382%	4h	316.44	+0.074%	$69.4M	$146.1M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	316.15	−0.018%	—	$30.4M	—	as long as short
Pacifica TAO	+0.0448%	1h	316.31	+0.032%	$372K	$413K	10x	as long as short
Phoenix TAO	+0.0504%	1h	317.70	+0.472%	$332K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.58	+0.118%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0577%	1h	316.39	+0.057%	$825K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0600%	1h	316.14	−0.021%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	316.19	−0.005%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.08	−0.040%	$363	—	20x	as long as short
Lighter TAOlong	+0.0712%	1h	316.21	long leg	$1.6M	$6.4M	5x
Variational Omni TAO	+0.0758%	4h	315.94	−0.083%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0833%	1h	316.24	+0.010%	$314K	$927K	10x	as long as short
Hyperliquid TAO	+0.0959%	1h	316.25	+0.012%	$95.5M	$104.2M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.276%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.26	+0.018%	$436K	$661K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.712%	$23K	$2K	12x	as long as short