Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1059%/8h= +115.9% APRpaid last 24h +0.138%

Price spread now: RISEx against OKX−0.027%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on OKX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.454%+$45 on $10k

Price spread, last 4 days (all we have)+0.519%+$52 · spread now −0.027%, 7d avg +0.046%

Together, before fees+0.973%+$97 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.073% cheaper against OKX than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of +0.046%). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$32 a day). At the pace of the last 4 days (+0.454% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TAO-USDT-SWAP	316.30	0.0100	pay 0.0100% / 8h	5h 04m	$26.1M	$119.8M	50x
Short	RISEx TAO/USDC	316.21	0.1159	get 0.0145% / 1h	4m 38s	$436K	$659K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.027%Rate

Funding earned: $222.31
Price spread: −0.027% → +0.046%: −$7.3
Slippage, 4 orders: −$17.43
Fee OKX: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $181.59
Costs to cover: 0.334%
Break-even: 1.3 days

Slippage from OKX: live order book, 4 min ago; RISEx: live order book, 59 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, 4 min ago	1.58 bp	11.0 bp −$11	23.2 bp −$232	62.9 bp −$6,293	doesn't fit
Sell RISEx live order book, 59 min ago	3.45 bp	6.5 bp −$7	doesn't fit	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	−0.0766%	1h	316.69	+0.122%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.53	+0.072%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.96	−0.107%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.46	+0.051%	$41K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.68	+0.120%	$92.0M	$490.6M	75x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	316.30	long leg	$26.1M	$119.8M	50x
Gate TAO_USDT	+0.0100%	4h	316.20	−0.032%	$13.0M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.56	+0.082%	$104.7M	$144.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.28	−0.006%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.94	−0.114%	$35.2M	$56.0M	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	316.32	+0.006%	$35K	$303K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.26	−0.013%	$88K	$793K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.16	−0.044%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.11	−0.060%	$109K	$529K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.34	+0.011%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	315.95	−0.111%	$673	$778K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	316.15	−0.047%	$57K	$275K	10x	as long as short
Bullet TAO-USD	+0.0136%	1h	316.36	+0.019%	$12K	$18K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0156% / S +0.0113%	1h	315.91	−0.122%	$429K	—	100x	as long as short
Phemex TAOUSDT	+0.0163%	4h	316.53	+0.073%	$3.3M	$8.1M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0178%	4h	317.27	+0.307%	$528K	$965K	10x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	316.39	+0.029%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0248%	1h	316.30	−0.001%	$5.6M	$20.8M	50x	as long as short
Aster TAOUSDT	+0.0265%	4h	316.63	+0.104%	$1.2M	$10.1M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0283%	1h	316.20	−0.031%	$15K	$1.7M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.31	+0.003%	$4.6M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0349%	1h	316.96	+0.209%	$47K	$252K	50x	as long as short
Bybit TAOUSDT	+0.0367%	4h	316.51	+0.066%	$69.4M	$146.0M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	316.19	−0.035%	—	$30.4M	—	as long as short
Pacifica TAO	+0.0448%	1h	316.56	+0.082%	$372K	$413K	10x	as long as short
Phoenix TAO	+0.0504%	1h	316.50	+0.063%	$331K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.48	+0.057%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0569%	1h	316.48	+0.056%	$826K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0584%	1h	316.01	−0.091%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	316.26	−0.013%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.36	+0.018%	$364	—	20x	as long as short
Lighter TAO	+0.0704%	1h	316.90	+0.191%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0758%	4h	315.94	−0.113%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0824%	1h	316.75	+0.142%	$315K	$926K	10x	as long as short
Hyperliquid TAO	+0.0937%	1h	316.93	+0.199%	$95.6M	$104.2M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.247%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDCshort	+0.1159%	1h	316.21	−0.027%	$436K	$659K	5x
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.682%	$23K	$2K	12x	as long as short