Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0808%/8h= −88.5% APRpaid last 24h −0.161%

Price spread now: Gate against RISEx−0.152%7-day average −0.052% · 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−$54as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on RISEx Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.473%−$47 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.152%, 7d avg −0.052%

Together, before fees−0.363%−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Gate is 0.100% cheaper against RISEx than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.052%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	314.08	0.0816	pay 0.0102% / 1h	53m 43s	$435K	$653K	5x
Short	Gate TAO_USDT	313.60	0.0008	get 0.0004% / 4h	3h 53m	$13.0M	$49.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.152%Rate

Funding earned: −$169.69
Price spread: −0.152% → −0.052%: −$10.01
Slippage, 4 orders: −$23.34
Fee RISEx: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$224.04
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from RISEx: live order book, 65 min ago; Gate: 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, 65 min ago	2.38 bp	5.6 bp −$6	35.7 bp −$357	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	3.18 bp	14.2 bp −$14	32.3 bp −$323	73.1 bp −$7,310	120.5 bp −$60.2K

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
Kraken Futures PF_TAOUSD	−0.0346%	1h	313.56	−0.163%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	314.02	−0.018%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.84	−0.075%	$20K	—	150x	as long as short
Gate TAO_USDTshort	+0.0008%	4h	313.60	−0.152%	$13.0M	$49.2M	50x
Popdex TAOUSDT	+0.0096%	1h	313.95	−0.040%	$43K	$653K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	313.86	−0.069%	$644	$806K	5x	as long as short
Pacifica TAO	+0.0100%	1h	314.22	+0.045%	$358K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.27	+0.060%	$90.6M	$496.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.20	+0.039%	$67.6M	$149.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.00	−0.024%	$26.0M	$120.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk TAO-USD	+0.0100%	1h	315.10	+0.326%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.80	−0.088%	$100.8M	$143.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.68	−0.126%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.70	−0.120%	$35.1M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.82	−0.082%	—	$33.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.50	+0.136%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.64	−0.140%	$532K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.57	+0.157%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.70	−0.120%	$77K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.02	−0.018%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.56	−0.165%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.51	−0.180%	$109K	$535K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.09	+0.004%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0122%	4h	313.66	−0.133%	$52K	$271K	10x	as long as short
Hyperliquid TAO	+0.0134%	1h	314.11	+0.011%	$92.2M	$106.6M	5x	as long as short
Aster TAOUSDT	+0.0137%	4h	313.85	−0.073%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	313.82	−0.081%	$426K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0144%	8h	314.19	+0.035%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0184%	1h	313.85	−0.072%	$918K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0195%	1h	313.78	−0.095%	$797K	$2.2M	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	314.22	+0.046%	$102K	$441K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.51	+0.138%	$4.6M	$10.8M	100x	as long as short
01 Exchange TAOUSD	+0.0352%	1h	314.20	+0.039%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0361%	1h	313.58	−0.158%	$311K	$914K	10x	as long as short
Variational Omni TAO	+0.0362%	4h	313.70	−0.120%	$5.6M	$9.9M	—	as long as short
Lighter TAO	+0.0400%	1h	314.37	+0.093%	$1.5M	$6.4M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0404%	1h	313.69	−0.123%	$21K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	313.60	−0.152%	$312K	$711K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.75	−0.104%	$361	—	20x	as long as short
RISEx TAO/USDClong	+0.0816%	1h	314.08	long leg	$435K	$653K	5x
Coinbase International TAO-PERP-INTX	+0.0952%	1h	314.92	+0.269%	$1.5M	$6.7M	50x	as long as short
Phemex TAOUSDT	+0.1188%	4h	313.73	−0.110%	$3.2M	$8.1M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+1.144%	$23K	$2K	12x	as long as short