Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1324%/8h= +145.0% APRpaid last 24h +0.097%

Price spread now: Lighter against SunX+0.176%7-day average +0.078% · you sell dearer than you buy

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

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 3 days (all we have)−0.168%−$17 · spread now +0.176%, 7d avg +0.078%

Together, before fees−0.021%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and Lighter is 0.098% dearer against SunX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.078%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.147% in total (about 7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	315.33	0.0100	pay 0.0050% / 4h	2h 26m	$1K	$1.9M	20x
Short	Lighter TAO	315.88	0.1424	get 0.0178% / 1h	26m 13s	$1.6M	$6.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.176%Rate

Funding earned: $278.04
Price spread: +0.176% → +0.078%: $9.83
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $279.87
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 10 min ago; Lighter: live order book, 7 min ago. 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 SunX live order book, 10 min ago	500.11 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	1.99 bp	6.5 bp −$6	25.1 bp −$251	doesn't fit	doesn't fit

TAO on 42 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
dYdX TAO-USD	0.0000%	1h	315.19	−0.046%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.12	−0.067%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.43	+0.032%	$39K	$626K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.56	+0.073%	$90.4M	$464.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.60	+0.086%	$25.9M	$112.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	−0.041%	$12.8M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.47	+0.044%	$109.3M	$138.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.47	+0.044%	$18.1M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.39	+0.019%	$35.2M	$53.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.67	−0.843%	$35K	$298K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	313.06	−0.720%	$47K	$256K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.43	+0.032%	$57K	$282K	10x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	315.33	long leg	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	315.25	−0.025%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.25	−0.025%	$3.4M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.85	+0.163%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0116%	4h	313.32	−0.639%	$516K	$966K	10x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	315.57	+0.076%	$1K	$700K	5x	as long as short
Polymarket Perps TAO-USD	+0.0148%	1h	315.38	+0.016%	$83K	$679K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0167%	1h	315.36	+0.011%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0091%	1h	315.04	−0.091%	$441K	—	100x	as long as short
Bullet TAO-USD	+0.0227%	1h	315.43	+0.032%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0238%	4h	315.49	+0.050%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	315.50	+0.055%	$371K	$381K	10x	as long as short
Paradex TAO-USD-PERP	+0.0332%	8h	315.42	+0.029%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.73	+0.127%	$99K	$529K	5x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	312.28	−0.967%	$23K	$2K	12x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0498%	1h	315.40	+0.022%	$24K	$1.5M	25x	as long as short
Nado TAO-PERP	+0.0503%	1h	315.31	−0.006%	$780K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	312.30	−0.961%	$326K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	315.74	+0.130%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.34	+0.004%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0760%	4h	315.55	+0.070%	—	$31.0M	—	as long as short
Variational Omni TAO	+0.0822%	4h	315.55	+0.071%	$5.5M	$8.9M	—	as long as short
Bybit TAOUSDT	+0.0832%	4h	315.64	+0.098%	$66.1M	$137.6M	50x	as long as short
Extended TAO-USD	+0.0896%	1h	315.40	+0.024%	$903K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0906%	1h	315.66	+0.105%	$319K	$814K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	315.37	+0.013%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	315.46	+0.041%	$451K	$630K	5x	as long as short
Hyperliquid TAO	+0.1238%	1h	315.87	+0.171%	$99.9M	$94.8M	5x	as long as short
Lighter TAOshort	+0.1424%	1h	315.88	+0.176%	$1.6M	$6.1M	5x
Bulk TAO-USD	+0.2752%	1h	308.95	−2.025%	$164K	$40K	10x	as long as short