Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0594%/8h= −65.1% APRpaid last 24h −0.177%

Price spread now: Gate against Reya−0.048%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Gate

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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Gate is 0.048% cheaper against Reya than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	308.25	0.0694	pay 0.0087% / 1h	23m 32s	$354	—	20x
Short	Gate TAO_USDT	308.10	0.0100	get 0.0050% / 4h	2h 23m	$12.3M	$48.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.048%Rate

Funding earned: −$124.8
Price spread: −0.048% → 0.000%: −$4.79
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$150.59
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	3.27 bp	15.4 bp −$15	29.8 bp −$298	62.8 bp −$6,280	112.0 bp −$56.0K

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	307.80	−0.146%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	307.76	−0.157%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0007%	1h	307.32	−0.300%	$15K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.15	−0.032%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.21	−0.012%	$364K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.12	−0.041%	$86.1M	$403.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.22	−0.009%	$59.5M	$118.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.10	−0.048%	$25.4M	$93.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.26	+0.004%	$137K	$598K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	−0.382%	$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_USDTshort	+0.0100%	4h	308.10	−0.048%	$12.3M	$48.2M	50x
MEXC TAO_USDT	+0.0100%	4h	308.14	−0.035%	$114.5M	$123.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.14	−0.035%	$18.6M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.07	−0.058%	$34.5M	$44.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.12	−0.041%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.90	−0.762%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.13	−1.013%	$39K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.16	−1.003%	$535K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	304.90	−1.086%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.34	+0.030%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.06	−0.060%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.22	−0.333%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.15	−0.356%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.30	−0.307%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.29	−0.311%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.72	−0.172%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	308.21	−0.012%	$1K	$437K	5x	as long as short
Paradex TAO-USD-PERP	+0.0164%	8h	308.10	−0.047%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0166%	4h	308.07	−0.058%	$1.1M	$7.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.80	−0.146%	$440K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	307.30	−0.307%	$325K	$462K	5x	as long as short
Nado TAO-PERP	+0.0287%	1h	308.01	−0.076%	$842K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.84	−0.457%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	308.54	+0.095%	$3K	$4K	5x	as long as short
Reya TAORUSDPERPlong	+0.0694%	1h	308.25	long leg	$354	—	20x
Extended TAO-USD	+0.0696%	1h	308.11	−0.044%	$906K	$2.0M	25x	as long as short
Lighter TAO	+0.0920%	1h	308.52	+0.090%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.04	−0.067%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.54	−0.231%	$6.3M	$19.3M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	308.32	+0.023%	$415K	$537K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1135%	1h	307.53	−0.233%	$444K	$715K	10x	as long as short
Hyperliquid TAO	+0.1742%	1h	308.74	+0.160%	$94.5M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−0.742%	$22K	$171	12x	as long as short