Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0644%/8h= +70.5% APRpaid last 24h +0.112%

Price spread now: Lighter against MEXC+0.056%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.246%+$25 on $10k

Price spread, last 7 days−0.045%−$4 · spread now +0.056%, 7d avg +0.050%

Together, before fees+0.202%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.050%, so right now this pair is about funding alone: +$19 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 0.246% in total (about 12.8% 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	MEXC TAO_USDT	316.40	0.0100	pay 0.0050% / 4h	1h 11m	$101.3M	$143.5M	300x
Short	Lighter TAO	316.58	0.0744	get 0.0093% / 1h	11m 41s	$1.6M	$6.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.056%Rate

Funding earned: $135.24
Price spread: +0.056% → +0.050%: $0.6
Slippage, 4 orders: −$14.9
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $120.93
Costs to cover: 0.149%
Break-even: 0.7 days

Slippage from MEXC: live order book, 2 min ago; Lighter: live order book, 6 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 MEXC live order book, 2 min ago	1.10 bp	3.0 bp −$3	12.6 bp −$126	32.4 bp −$3,242	123.3 bp −$61.7K
Sell Lighter live order book, 6 min ago	2.13 bp	4.8 bp −$5	16.9 bp −$169	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	+2.772%	$172K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.00	−0.126%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.32	−0.342%	$20K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0057%	1h	315.57	−0.263%	$16K	$1.6M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.36	+0.303%	$40K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.23	+0.263%	$92.3M	$489.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.40	+0.316%	$26.1M	$120.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.30	−0.032%	$13.0M	$50.3M	50x	as long as short
MEXC TAO_USDTlong	+0.0100%	4h	316.40	long leg	$101.3M	$143.5M	300x
KuCoin TAOUSDTM	+0.0100%	4h	316.42	+0.006%	$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	316.60	+0.063%	$35.3M	$55.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.42	+0.007%	$35K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.11	−0.092%	$87K	$794K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.20	−0.379%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.57	−0.262%	$128K	$482K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.46	−0.297%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	316.90	+0.158%	$674	$776K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	315.27	−0.357%	$57K	$282K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0157% / S +0.0112%	1h	315.32	−0.340%	$429K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0192%	4h	315.38	−0.322%	$523K	$951K	10x	as long as short
Bullet TAO-USD	+0.0199%	1h	315.43	−0.307%	$12K	$18K	20x	as long as short
Phemex TAOUSDT	+0.0219%	4h	315.93	−0.149%	$3.4M	$7.9M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.46	−0.296%	$5.6M	$20.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0257%	8h	316.08	−0.101%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0277%	4h	315.83	−0.180%	$1.2M	$10.0M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	−0.126%	$3.8M	$11.3M	100x	as long as short
ApeX Omni TAOUSDT	+0.0371%	1h	316.95	+0.174%	$47K	$253K	50x	as long as short
Bybit TAOUSDT	+0.0427%	4h	317.50	+0.348%	$69.6M	$146.0M	50x	as long as short
Pacifica TAO	+0.0448%	1h	316.20	−0.062%	$374K	$405K	10x	as long as short
BingX TAO-USDT	+0.0448%	4h	316.60	+0.063%	—	$30.4M	—	as long as short
Phoenix TAO	+0.0504%	1h	324.80	+2.655%	$340K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	317.41	+0.319%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0619%	1h	315.87	−0.168%	$790K	$2.2M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.93	−0.148%	$363	—	20x	as long as short
Extended TAO-USD	+0.0704%	1h	316.70	+0.094%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0704%	1h	317.43	+0.326%	$3K	$4K	5x	as long as short
Lighter TAOshort	+0.0744%	1h	316.58	+0.056%	$1.6M	$6.4M	5x
Variational Omni TAO	+0.0831%	4h	317.31	+0.289%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0909%	1h	315.75	−0.205%	$314K	$923K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.00	−0.126%	$1.5M	$6.8M	50x	as long as short
Hyperliquid TAO	+0.1064%	1h	316.07	−0.104%	$95.8M	$104.6M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	317.50	+0.348%	$446K	$657K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.650%	$23K	$2K	12x	as long as short