Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0308%/8h= +33.7% APRpaid last 24h +0.120%

Price spread now: Lighter against OKX+0.166%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on OKX Short on Lighter

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−0.113%−$11 · spread now +0.166%, 7d avg +0.080%

Together, before fees+0.125%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Lighter is 0.085% dearer against OKX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TAO-USDT-SWAP	314.70	0.0100	pay 0.0100% / 8h	4h 42m	$25.9M	$119.2M	50x
Short	Lighter TAO	315.22	0.0408	get 0.0051% / 1h	42m 36s	$1.5M	$6.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.166%Rate

Funding earned: $64.68
Price spread: +0.166% → +0.080%: $8.52
Slippage, 4 orders: −$23.15
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $40.05
Costs to cover: 0.331%
Break-even: 2.7 days

Slippage from OKX: live order book, 1 min ago; Lighter: live order book, 11 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 OKX live order book, 1 min ago	1.58 bp	9.1 bp −$9	17.1 bp −$171	55.9 bp −$5,588	doesn't fit
Sell Lighter live order book, 11 min ago	2.10 bp	2.7 bp −$3	18.9 bp −$189	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	−0.0482%	1h	315.13	+0.137%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.76	+0.019%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.94	+0.076%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.98	+0.090%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.89	+0.060%	$42K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.85	+0.048%	$90.8M	$489.9M	75x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	314.70	long leg	$25.9M	$119.2M	50x
Gate TAO_USDT	+0.0100%	4h	314.70	0.000%	$12.9M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.96	+0.083%	$105.6M	$142.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.93	+0.073%	$17.5M	$31.7M	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	314.73	+0.010%	$35.2M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.77	+0.340%	$35K	$304K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.07	+0.435%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.05	+0.111%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.18	+0.152%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.60	+0.286%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.93	+0.073%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.04	+0.108%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	314.64	−0.019%	$644	$786K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.99	+0.092%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	316.10	+0.446%	$526K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.98	+0.089%	$57K	$275K	10x	as long as short
Bybit TAOUSDT	+0.0134%	4h	314.78	+0.025%	$68.5M	$146.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0117%	1h	314.92	+0.071%	$427K	—	100x	as long as short
BingX TAO-USDT	+0.0161%	4h	314.96	+0.083%	—	$30.1M	—	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	315.03	+0.104%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0200%	1h	315.35	+0.206%	$806K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0220%	4h	314.91	+0.065%	$1.2M	$10.1M	50x	as long as short
01 Exchange TAOUSD	+0.0232%	1h	314.85	+0.048%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0263%	1h	315.18	+0.153%	$93.8M	$105.2M	5x	as long as short
Extended TAO-USD	+0.0312%	1h	314.80	+0.031%	$922K	$2.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0313%	1h	315.06	+0.114%	$316K	$910K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.07	+0.118%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.18	+0.153%	$99K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.05	+0.111%	$361K	$409K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0400%	1h	315.03	+0.106%	$11K	$1.6M	25x	as long as short
Lighter TAOshort	+0.0408%	1h	315.22	+0.166%	$1.5M	$6.5M	5x
Phoenix TAO	+0.0581%	1h	316.10	+0.445%	$315K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	+0.393%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.12	+0.134%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.92	+0.070%	$436K	$659K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.38	+0.534%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.560%	$23K	$2K	12x	as long as short