Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0547%/8h= −59.9% APRpaid last 24h −0.134%

Price spread now: Aster against Reya+0.014%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$16 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	305.01	0.0694	pay 0.0087% / 1h	28m 15s	$351	—	20x
Short	Aster TAOUSDT	305.05	0.0147	get 0.0074% / 4h	2h 28m	$1.1M	$7.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$114.85
Price spread: +0.014% → 0.000%: $1.36
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$127.49
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 6 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 6 min ago	2.12 bp	9.6 bp −$10	25.8 bp −$258	201.1 bp −$20.1K	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	305.80	+0.259%	$128K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	305.09	+0.027%	$15K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	304.87	−0.046%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.15	+0.046%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	305.95	+0.309%	$361K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.07	+0.019%	$85.3M	$403.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	305.36	+0.115%	$58.9M	$118.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.20	+0.063%	$24.9M	$92.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.08	+0.351%	$136K	$595K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	+0.676%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	304.80	−0.068%	$12.2M	$48.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.01	+0.001%	$112.7M	$123.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	305.13	+0.040%	$18.4M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	304.89	−0.039%	$34.2M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.02	+0.004%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.827%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.34	+0.764%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.77	+0.905%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.19	+0.715%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.68	+0.220%	$86K	$668K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.00	−0.003%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.07	+0.020%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.89	−0.039%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.97	−0.013%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	304.93	−0.026%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.17	+0.053%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	305.28	+0.089%	$3K	$434K	5x	as long as short
Aster TAOUSDTshort	+0.0147%	4h	305.05	+0.014%	$1.1M	$7.5M	50x
Paradex TAO-USD-PERP	+0.0163%	8h	305.79	+0.256%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.77	−0.078%	$435K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+1.079%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0307%	1h	305.31	+0.098%	$834K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.14	+0.371%	$4.2M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	305.57	+0.184%	$3K	$4K	5x	as long as short
Reya TAORUSDPERPlong	+0.0694%	1h	305.01	long leg	$351	—	20x
Extended TAO-USD	+0.0696%	1h	305.09	+0.028%	$897K	$2.0M	25x	as long as short
Lighter TAO	+0.0928%	1h	305.62	+0.201%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	306.30	+0.423%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1032%	1h	305.33	+0.105%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	305.60	+0.195%	$409K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1262%	1h	305.88	+0.286%	$442K	$712K	10x	as long as short
Hyperliquid TAO	+0.1701%	1h	305.62	+0.201%	$93.4M	$75.9M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	+0.312%	$22K	$171	12x	as long as short