Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1059%/8h= −115.9% APRpaid last 24h −0.138%

Price spread now: OKX against RISEx−0.093%7-day average −0.046% · 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−$38as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.454%−$45 on $10k

Price spread, last 4 days (all we have)−0.399%−$40 · spread now −0.093%, 7d avg −0.046%

Together, before fees−0.853%−$85 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and OKX is 0.047% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	315.89	0.1159	pay 0.0145% / 1h	3m 32s	$435K	$659K	5x
Short	OKX TAO-USDT-SWAP	315.60	0.0100	get 0.0100% / 8h	5h 03m	$26.0M	$119.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$222.31
Price spread: −0.093% → −0.046%: −$4.73
Slippage, 4 orders: −$17.43
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$260.47
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from RISEx: live order book, 60 min ago; OKX: 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, 60 min ago	3.45 bp	6.5 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.58 bp	9.4 bp −$9	18.2 bp −$182	57.0 bp −$5,699	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	−0.0766%	1h	316.69	+0.250%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.34	−0.176%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.69	−0.065%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.95	+0.017%	$41K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.83	−0.020%	$91.8M	$489.6M	75x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	315.60	−0.093%	$26.0M	$119.2M	50x
Gate TAO_USDT	+0.0100%	4h	315.40	−0.157%	$12.9M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.54	−0.112%	$104.5M	$144.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.53	−0.116%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.60	−0.093%	$35.2M	$55.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.23	+0.107%	$35K	$303K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.88	−0.005%	$88K	$794K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.55	−0.109%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.33	−0.179%	$109K	$529K	20x	as long as short
Phemex TAOUSDT	+0.0103%	4h	315.55	−0.109%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.75	−0.047%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	315.61	−0.090%	$1K	$778K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	315.73	−0.052%	$57K	$275K	10x	as long as short
Bullet TAO-USD	+0.0129%	1h	315.89	−0.003%	$12K	$18K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0156% / S +0.0113%	1h	315.70	−0.062%	$428K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0160%	4h	316.72	+0.260%	$527K	$965K	10x	as long as short
Paradex TAO-USD-PERP	+0.0231%	8h	315.55	−0.108%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.73	−0.053%	$5.6M	$20.8M	50x	as long as short
Aster TAOUSDT	+0.0256%	4h	315.55	−0.108%	$1.2M	$10.1M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0274%	1h	315.75	−0.047%	$15K	$1.7M	25x	as long as short
ApeX Omni TAOUSDT	+0.0299%	1h	316.57	+0.214%	$46K	$252K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.31	+0.131%	$4.6M	$10.9M	100x	as long as short
Bybit TAOUSDT	+0.0351%	4h	316.03	+0.043%	$69.4M	$146.2M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	315.57	−0.103%	—	$30.3M	—	as long as short
Pacifica TAO	+0.0448%	1h	315.59	−0.097%	$371K	$413K	10x	as long as short
Phoenix TAO	+0.0504%	1h	316.50	+0.192%	$331K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.16	+0.084%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0560%	1h	315.75	−0.047%	$824K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0560%	1h	315.66	−0.074%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	315.82	−0.024%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.86	−0.011%	$363	—	20x	as long as short
Lighter TAO	+0.0704%	1h	315.85	−0.013%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0758%	4h	315.94	+0.015%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0814%	1h	315.89	−0.002%	$314K	$926K	10x	as long as short
Hyperliquid TAO	+0.0919%	1h	315.60	−0.093%	$95.2M	$104.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.375%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDClong	+0.1159%	1h	315.89	long leg	$435K	$659K	5x
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.812%	$23K	$2K	12x	as long as short