Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.120%

Price spread now: OKX against Lighter−0.037%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.238%−$24 on $10k

Price spread, last 7 days−0.016%−$2 · spread now −0.037%, 7d avg −0.080%

Together, before fees−0.254%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.044% dearer against Lighter than usual: you sell high and buy low (spread −0.037% now, against its 7-day average of −0.080%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	315.22	0.0312	pay 0.0039% / 1h	21m 30s	$1.5M	$6.5M	5x
Short	OKX TAO-USDT-SWAP	315.10	0.0100	get 0.0100% / 8h	4h 21m	$26.0M	$120.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$44.52
Price spread: −0.037% → −0.080%: $4.36
Slippage, 4 orders: −$27.32
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$77.48
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; OKX: live order book, 2 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	2.54 bp	11.6 bp −$12	20.7 bp −$207	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.58 bp	9.8 bp −$10	21.3 bp −$213	69.2 bp −$6,920	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
dYdX TAO-USD	0.0000%	1h	314.98	−0.075%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.12	−0.030%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.22	+0.002%	$5.5M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.23	+0.004%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.07	−0.046%	$645	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.23	+0.004%	$91.0M	$494.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.31	+0.030%	$68.1M	$148.6M	50x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	315.10	−0.037%	$26.0M	$120.5M	50x
Gate TAO_USDT	+0.0100%	4h	314.70	−0.164%	$12.9M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.95	−0.084%	$110.5M	$144.0M	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	314.92	−0.094%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.93	−0.091%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.07	−0.046%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.64	+0.135%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.78	+0.179%	$522K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.16	−0.018%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.06	−0.049%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.35	+0.041%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.22	+0.001%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.91	−0.097%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.04	−0.056%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.37	+0.049%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	315.30	+0.027%	$57K	$265K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0147% / S +0.0126%	1h	315.09	−0.039%	$420K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	314.93	−0.092%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0195%	4h	315.25	+0.011%	$1.2M	$10.3M	50x	as long as short
Nado TAO-PERP	+0.0198%	1h	314.98	−0.076%	$800K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0208%	1h	315.06	−0.051%	$922K	$2.4M	25x	as long as short
Hyperliquid TAO	+0.0257%	1h	315.29	+0.023%	$92.7M	$106.4M	5x	as long as short
01 Exchange TAOUSD	+0.0304%	1h	315.41	+0.062%	$3K	$4K	5x	as long as short
Lighter TAOlong	+0.0312%	1h	315.22	long leg	$1.5M	$6.5M	5x
Deribit TAO_USDC-PERPETUAL	+0.0329%	1h	315.36	+0.045%	$30K	$1.7M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	+0.249%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.38	+0.052%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0348%	1h	315.11	−0.034%	$316K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.05	−0.053%	$359K	$412K	10x	as long as short
Variational Omni TAO	+0.0526%	4h	314.38	−0.266%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.090%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.18	−0.011%	$362	—	20x	as long as short
Bulk TAO-USD	+0.0933%	1h	314.34	−0.278%	$167K	$2K	10x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.23	+0.006%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.02	+0.255%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.153%	$23K	$2K	12x	as long as short