Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0891%/8h= −97.6% APRpaid last 24h −0.150%

Price spread now: KuCoin against RISEx−0.285%7-day average −0.012% · 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−$71as in the Price arb table

costs, in and out, $10k−$440.435% of the position

Long on RISEx Short on KuCoin

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)+0.233%+$23 · spread now −0.285%, 7d avg −0.012%

Together, before fees−0.240%−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and KuCoin is 0.273% cheaper against RISEx than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	315.96	0.0991	pay 0.0124% / 1h	38m 54s	$438K	$659K	5x
Short	KuCoin TAOUSDTM	315.06	0.0100	get 0.0050% / 4h	38m 54s	$17.5M	$31.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.285%Rate

Funding earned: −$187.16
Price spread: −0.285% → −0.012%: −$27.29
Slippage, 4 orders: −$25.52
Fee RISEx: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$257.98
Costs to cover: 0.435%
Break-even: never at this rate

Slippage from RISEx: live order book, 20 min ago; KuCoin: 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, 20 min ago	2.38 bp	5.6 bp −$6	35.7 bp −$357	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.79 bp	15.0 bp −$15	25.7 bp −$257	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	−0.0482%	1h	315.13	−0.263%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.72	−0.076%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.93	−0.326%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.78	−0.375%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.97	+0.003%	$42K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.10	−0.272%	$90.8M	$490.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.10	−0.272%	$26.0M	$119.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.90	−0.335%	$12.9M	$49.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.19	−0.244%	$105.8M	$142.7M	300x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	315.06	−0.285%	$17.5M	$31.6M	75x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	314.98	−0.310%	$35.2M	$55.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.41	−0.173%	$35K	$302K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.94	−0.323%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.73	−0.073%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.25	−0.226%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.80	−0.367%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.75	−0.383%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.81	−0.364%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	315.58	−0.120%	$1K	$787K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0104%	4h	316.85	+0.282%	$528K	$944K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.05	−0.288%	$173K	$998	3x	as long as short
Bybit TAOUSDT	+0.0116%	4h	315.26	−0.222%	$68.5M	$146.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0126%	1h	314.88	−0.343%	$11K	$1.6M	25x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	314.81	−0.364%	$57K	$275K	10x	as long as short
BingX TAO-USDT	+0.0146%	4h	315.12	−0.266%	—	$30.1M	—	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0151% / S +0.0122%	1h	314.96	−0.316%	$421K	—	100x	as long as short
Nado TAO-PERP	+0.0183%	1h	315.72	−0.075%	$805K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	315.90	−0.020%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0224%	4h	314.98	−0.311%	$1.2M	$10.2M	50x	as long as short
01 Exchange TAOUSD	+0.0248%	1h	316.01	+0.016%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0272%	1h	315.03	−0.294%	$93.3M	$105.6M	5x	as long as short
Extended TAO-USD	+0.0288%	1h	315.15	−0.255%	$922K	$2.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0339%	1h	314.83	−0.358%	$315K	$913K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.25	−0.225%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	316.21	+0.079%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	316.12	+0.052%	$361K	$411K	10x	as long as short
Lighter TAO	+0.0376%	1h	315.21	−0.239%	$1.5M	$6.5M	5x	as long as short
Phoenix TAO	+0.0581%	1h	317.30	+0.424%	$316K	$697K	5x	as long as short
Variational Omni TAO	+0.0615%	4h	315.95	−0.004%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.44	−0.165%	$363	—	20x	as long as short
RISEx TAO/USDClong	+0.0991%	1h	315.96	long leg	$438K	$659K	5x
Coinbase International TAO-PERP-INTX	+0.1008%	1h	318.13	+0.687%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.155%	$23K	$2K	12x	as long as short