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: Orderly against RISEx−0.124%7-day average −0.007% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on RISEx Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.404%−$40 on $10k

Price spread, last 3 days (all we have)+0.118%+$12 · spread now −0.124%, 7d avg −0.007%

Together, before fees−0.286%−$29 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 Orderly is 0.116% cheaper against RISEx than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	306.21	0.1155	pay 0.0144% / 1h	15m 50s	$417K	$544K	5x
Short	Orderly PERP_TAO_USDC	305.83	0.0100	get 0.0050% / 4h	1h 15m	$59K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.124%Rate

Funding earned: −$221.47
Price spread: −0.124% → −0.007%: −$11.63
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$245.1
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.

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, 3 min ago	1.30 bp	4.3 bp −$4	22.2 bp −$222	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0004%	1h	305.60	−0.197%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0015%	1h	305.55	−0.214%	$125K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	306.01	−0.065%	$45K	$539K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.92	−0.094%	$85.6M	$414.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	306.09	−0.039%	$59.3M	$121.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	306.00	−0.068%	$24.6M	$95.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.23	+0.007%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	302.77	−1.123%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	305.80	−0.133%	$12.2M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.97	−0.078%	$113.8M	$125.8M	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	306.05	−0.052%	$18.2M	$27.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	305.83	−0.124%	$34.1M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.96	−0.081%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.18	−0.009%	$40K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.91	−0.097%	$506K	$967K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	306.00	−0.068%	$75K	$556K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.81	−0.130%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDCshort	+0.0100%	4h	305.83	−0.124%	$59K	$276K	10x
SunX TAO-USDT	+0.0100%	4h	305.93	−0.091%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	305.82	−0.127%	$122K	$368K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.92	−0.094%	$3.3M	$7.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0102%	1h	306.21	0.000%	$46K	$270K	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.90	−0.102%	$168K	$998	3x	as long as short
Variational Omni TAO	+0.0105%	4h	305.97	−0.079%	$3.7M	$6.7M	—	as long as short
Katana Perps TAO-USD	+0.0110%	8h	305.98	−0.075%	$626	$506K	5x	as long as short
Aster TAOUSDT	+0.0119%	4h	305.99	−0.071%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	305.89	−0.104%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	305.96	−0.082%	$361K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	305.59	−0.204%	$436K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0264%	1h	305.95	−0.084%	$19K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0319%	1h	306.04	−0.054%	$826K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.78	−0.140%	$4.2M	$9.5M	100x	as long as short
Lighter TAO	+0.0352%	1h	306.08	−0.041%	$1.6M	$5.4M	5x	as long as short
01 Exchange TAOUSD	+0.0408%	1h	306.17	−0.013%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0449%	1h	306.13	−0.026%	$294K	$800K	10x	as long as short
Phoenix TAO	+0.0521%	1h	306.60	+0.128%	$321K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	305.72	−0.159%	$352	—	20x	as long as short
Extended TAO-USD	+0.0744%	1h	305.89	−0.105%	$834K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	306.04	−0.055%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1032%	1h	305.94	−0.088%	$5.8M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1083%	1h	306.45	+0.079%	$93.3M	$80.7M	5x	as long as short
RISEx TAO/USDClong	+0.1155%	1h	306.21	long leg	$417K	$544K	5x
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.823%	$22K	$264	12x	as long as short