Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1041%/8h= −114.0% APRpaid last 24h −0.115%

Price spread now: Bitget against RISEx−0.270%7-day average −0.053% · 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−$50as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on RISEx Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.433%−$43 on $10k

Price spread, last 4 days (all we have)+0.161%+$16 · spread now −0.270%, 7d avg −0.053%

Together, before fees−0.273%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Bitget is 0.217% cheaper against RISEx than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	316.40	0.1141	pay 0.0143% / 1h	9m 07s	$420K	$593K	5x
Short	Bitget TAOUSDT	315.55	0.0100	get 0.0050% / 4h	3h 09m	$35.1M	$51.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against RISEx. 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 RISExbpFee BitgetbpOrdersPrice spread, now −0.270%Rate

Funding earned: −$218.57
Price spread: −0.270% → −0.053%: −$21.71
Slippage, 4 orders: −$10.56
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$268.84
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from RISEx: live order book, 64 min ago; Bitget: live order book, 5 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 RISEx live order book, 64 min ago	0.48 bp	3.5 bp −$4	28.3 bp −$283	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.26 bp	11.4 bp −$11	20.1 bp −$201	33.4 bp −$3,336	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	−0.1821%	1h	318.67	+0.716%	$169K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.65	−0.239%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.83	−0.182%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.37	−0.011%	$42K	$598K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.71	−0.220%	$90.5M	$450.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	−0.128%	$25.7M	$108.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.70	−0.223%	$12.8M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.89	−0.163%	$98.9M	$136.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.11	−0.093%	$17.9M	$29.3M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	315.55	−0.270%	$35.1M	$51.4M	50x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.43	+0.006%	$40K	$293K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.09	−0.098%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.92	−0.153%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.66	−0.235%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.28	−0.039%	$126K	$422K	20x	as long as short
Bullet TAO-USD	+0.0102%	1h	316.22	−0.057%	$12K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.17	−0.074%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	316.36	−0.014%	$1K	$643K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0101%	1h	315.81	−0.187%	$448K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	315.97	−0.138%	$374K	$376K	10x	as long as short
ApeX Omni TAOUSDT	+0.0185%	1h	316.14	−0.084%	$48K	$267K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0194%	1h	315.79	−0.194%	$17K	$1.5M	25x	as long as short
Arcus TAO-USD	+0.0201%	1h	316.52	+0.036%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0204%	4h	315.91	−0.156%	$1.2M	$8.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	315.99	−0.131%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0272%	1h	316.47	+0.021%	$93K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.05	−0.112%	$4.4M	$10.7M	100x	as long as short
Phemex TAOUSDT	+0.0347%	4h	316.22	−0.058%	$3.4M	$7.8M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0486%	1h	315.69	−0.227%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	316.60	+0.062%	$331K	$624K	5x	as long as short
Variational Omni TAO	+0.0546%	4h	316.94	+0.170%	$5.5M	$8.7M	—	as long as short
01 Exchange TAOUSD	+0.0560%	1h	316.46	+0.018%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.77	+0.432%	$23K	$802	12x	as long as short
BingX TAO-USDT	+0.0628%	4h	315.91	−0.156%	—	$30.5M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.16	−0.078%	$364	—	20x	as long as short
Bybit TAOUSDT	+0.0738%	4h	315.98	−0.134%	$65.0M	$133.4M	50x	as long as short
Nado TAO-PERP	+0.0759%	1h	316.33	−0.023%	$876K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0804%	1h	315.97	−0.137%	$319K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.15	+0.236%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1120%	1h	315.74	−0.209%	$886K	$2.3M	25x	as long as short
RISEx TAO/USDClong	+0.1141%	1h	316.40	long leg	$420K	$593K	5x
Lighter TAO	+0.1424%	1h	316.37	−0.011%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1812%	1h	316.14	−0.084%	$101.2M	$91.5M	5x	as long as short