Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1055%/8h= −115.5% APRpaid last 24h −0.087%

Price spread now: HTX against RISEx+0.850%7-day average −0.129% · 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−$58as in the Price arb table

costs, in and out, $10k−$1561.563% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.428%−$43 on $10k

Price spread, last 3 days (all we have)−0.976%−$98 · spread now +0.850%, 7d avg −0.129%

Together, before fees−1.404%−$140 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.979% dearer against RISEx than usual: you sell high and buy low (spread +0.850% now, against its 7-day average of −0.129%): +$98 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 3 days (−0.428% in total) that is about 7.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	303.41	0.1155	pay 0.0144% / 1h	45m 06s	$409K	$545K	5x
Short	HTX TAO-USDT	305.99	0.0100	get 0.0050% / 4h	1h 45m	$121K	$358K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.850%Rate

Funding earned: −$221.47
Price spread: +0.850% → −0.129%: $97.91
Slippage, 4 orders: −$138.26
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$279.82
Costs to cover: 1.563%
Break-even: never at this rate

Slippage from RISEx: live order book, 38 min ago; HTX: live order book, 38 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, 38 min ago	0.65 bp	3.7 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 38 min ago	34.46 bp	43.9 bp −$44	doesn't fit	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
Bulk TAO-USD	−0.0466%	1h	307.38	+1.308%	$202K	$17K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	303.51	+0.032%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.37	−0.013%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.32	−0.030%	$43K	$535K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.76	+0.114%	$85.0M	$410.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.83	+0.138%	$58.9M	$120.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.80	+0.129%	$24.4M	$94.6M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.52	+0.036%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.40	−0.003%	$12.1M	$48.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	303.67	+0.086%	$120.3M	$124.2M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	303.50	+0.030%	$18.4M	$26.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.65	+0.079%	$34.0M	$45.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.66	+0.082%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.72	+0.101%	$3.6M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.67	+0.086%	$39K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.73	+0.106%	$502K	$967K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.64	+0.076%	$77K	$607K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.62	+0.069%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.60	+0.063%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.53	+0.040%	$1K	$1.8M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	305.99	+0.850%	$121K	$358K	20x
Phemex TAOUSDT	+0.0100%	4h	303.59	+0.059%	$3.2M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.57	+0.053%	$167K	$998	3x	as long as short
Aster TAOUSDT	+0.0108%	4h	303.56	+0.051%	$1.1M	$7.7M	50x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	303.28	−0.043%	$621	$486K	5x	as long as short
Paradex TAO-USD-PERP	+0.0153%	8h	303.36	−0.016%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.66	+0.083%	$359K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.33	−0.025%	$433K	—	100x	as long as short
ApeX Omni TAOUSDT	+0.0233%	1h	304.06	+0.214%	$46K	$269K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0322%	1h	303.69	+0.091%	$20K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.29	−0.040%	$4.2M	$9.3M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0384%	1h	303.73	+0.105%	$378K	$757K	10x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	303.48	+0.023%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0408%	1h	303.90	+0.162%	$1.6M	$5.2M	5x	as long as short
Nado TAO-PERP	+0.0436%	1h	303.50	+0.030%	$826K	$1.9M	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.90	+0.162%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.55	+0.045%	$349	—	20x	as long as short
Extended TAO-USD	+0.0832%	1h	303.71	+0.100%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.27	+0.613%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1040%	1h	303.59	+0.061%	$5.8M	$19.7M	50x	as long as short
RISEx TAO/USDClong	+0.1155%	1h	303.41	long leg	$409K	$545K	5x
Hyperliquid TAO	+0.1261%	1h	304.00	+0.194%	$92.7M	$79.9M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.753%	$22K	$264	12x	as long as short