Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0620%/8h= −67.9% APRpaid last 24h −0.186%

Price spread now: GRVT against RISEx+0.308%55s7-day average −0.005% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.292% of the position

Long on RISEx Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.511%−$51 on $10k

Price spread, last 4 days (all we have)+0.454%+$45 · spread now +0.308%, 7d avg −0.005%

Together, before fees−0.057%+ Points / potential airdropGRVT: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.314% dearer against RISEx than usual: you sell high and buy low (spread +0.308% now, against its 7-day average of −0.005%): +$31 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 40 hours. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	315.24	0.0840	pay 0.0105% / 1h	38m 15s	$437K	$682K	5x
Short	GRVT TAO_USDT_Perp	316.21	0.0220	get 0.0110% / 4h	3h 38m	$541K	$877K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.308%Rate

Funding earned: −$130.18
Price spread: +0.308% → −0.005%: $31.37
Slippage, 4 orders: −$14.18
Fee RISEx: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$127.99
Costs to cover: 0.292%
Break-even: from the start

Slippage from RISEx: live order book, 60 min ago; GRVT: live order book, 60 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, 60 min ago	2.68 bp	5.7 bp −$6	30.5 bp −$305	doesn't fit	doesn't fit
Sell GRVT live order book, 60 min ago	2.68 bp	9.0 bp −$9	18.1 bp −$181	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	315.15	−0.027%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.41	+0.055%	$49K	$705K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	315.16	−0.024%	$2K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.50	+0.083%	$26.3M	$130.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	−0.012%	$14.8M	$49.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.45	+0.068%	$17.7M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.53	+0.093%	$35.5M	$57.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.10	−0.043%	$86K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.23	−0.002%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.07	−0.053%	$115K	$589K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	315.30	+0.020%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	315.48	+0.078%	$173K	$998	3x	as long as short
Bulk TAO-USD	+0.0125%	1h	316.13	+0.283%	$168K	$0	10x	as long as short
Binance TAOUSDT	+0.0146%	4h	315.53	+0.094%	$92.0M	$529.1M	75x	as long as short
MEXC TAO_USDT	+0.0148%	4h	315.60	+0.115%	$104.5M	$151.8M	300x	as long as short
ApeX Omni TAOUSDT	+0.0157%	1h	315.93	+0.220%	$45K	$257K	50x	as long as short
edgeX TAOUSDC	+0.0158%	4h	315.84	+0.191%	$42K	$320K	10x	as long as short
dYdX TAO-USD	+0.0197%	1h	314.85	−0.124%	$127K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0210%	4h	315.45	+0.068%	$54K	$299K	10x	as long as short
Bullet TAO-USD	+0.0217%	1h	315.52	+0.091%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perpshort	+0.0220%	4h	316.21	+0.308%	$541K	$877K	10x
Paradex TAO-USD-PERP	+0.0237%	8h	314.90	−0.107%	$14K	$876	10x	as long as short
Aster TAOUSDT	+0.0311%	4h	315.41	+0.056%	$1.2M	$11.1M	50x	as long as short
BingX TAO-USDT	+0.0328%	4h	315.65	+0.131%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0337%	4h	315.64	+0.128%	$69.5M	$155.4M	50x	as long as short
Pacifica TAO	+0.0349%	1h	315.00	−0.074%	$369K	$440K	10x	as long as short
Extended TAO-USD	+0.0360%	1h	315.40	+0.053%	$894K	$2.4M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0361% / S −0.0107%	1h	315.16	−0.023%	$370K	—	100x	as long as short
BloFin TAO-USDT	+0.0390%	4h	315.06	−0.056%	$4.7M	$10.8M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	315.46	+0.071%	$99K	$368K	5x	as long as short
Hyperliquid TAO	+0.0490%	1h	315.91	+0.214%	$93.1M	$108.4M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0501%	1h	315.48	+0.078%	$15K	$1.9M	25x	as long as short
Nado TAO-PERP	+0.0525%	1h	315.45	+0.067%	$767K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	316.20	+0.306%	$318K	$714K	5x	as long as short
Variational Omni TAO	+0.0602%	4h	315.71	+0.151%	$5.6M	$10.1M	—	as long as short
Lighter TAO	+0.0608%	1h	315.69	+0.145%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	315.48	+0.077%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0686%	1h	315.87	+0.201%	$316K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	315.47	+0.073%	$363	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0789%	1h	315.55	+0.098%	$6.0M	$21.2M	50x	as long as short
RISEx TAO/USDClong	+0.0840%	1h	315.24	long leg	$437K	$682K	5x
Coinbase International TAO-PERP-INTX	+0.0944%	1h	315.88	+0.204%	$1.2M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	319.36	+1.308%	$23K	$2K	12x	as long as short