Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.065%

Price spread now: Lighter against Variational Omni−0.409%7-day average +0.020% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.144%+$14 on $10k

Price spread, last 7 days+0.525%+$53 · spread now −0.409%, 7d avg +0.020%

Together, before fees+0.669%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$67 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.429% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.409% now, against its 7-day average of +0.020%). If the spread goes back, that is −$43 on $10k: about 5.9 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TAO	303.66	0.0100	pay 0.0050% / 4h	1h 36m	$3.6M	$6.7M	—
Short	Lighter TAO	302.42	0.0344	get 0.0043% / 1h	36m 18s	$1.6M	$5.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.409%Rate

Funding earned: $51.24
Price spread: −0.409% → +0.020%: −$42.93
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $8.31
Costs to cover: 0.000%
Break-even: 5.9 days

Slippage unknown: Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	2.89 bp	doesn't fit	10.1 bp −$101	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	2.24 bp	10.8 bp −$11	20.6 bp −$206	373.6 bp −$37.4K	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	−0.0186%	1h	303.81	+0.049%	$162K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	302.17	−0.490%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	302.25	−0.463%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	302.48	−0.389%	$44K	$535K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	302.35	−0.432%	$84.7M	$412.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	302.37	−0.425%	$58.5M	$121.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	302.30	−0.448%	$24.3M	$94.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	302.63	−0.339%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	302.30	−0.448%	$12.1M	$48.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	302.37	−0.425%	$109.8M	$124.8M	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	302.41	−0.412%	$18.2M	$27.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	302.32	−0.441%	$33.8M	$45.9M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	302.45	−0.398%	—	$30.3M	—	as long as short
Variational Omni TAOlong	+0.0100%	4h	303.66	long leg	$3.6M	$6.7M	—
edgeX TAOUSDC	+0.0100%	4h	303.48	−0.061%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.75	+0.028%	$502K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.30	−0.119%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	302.44	−0.402%	$77K	$600K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	302.51	−0.379%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	302.38	−0.422%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	302.27	−0.458%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	302.44	−0.402%	$121K	$363K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	302.27	−0.458%	$3.2M	$7.8M	50x	as long as short
Aster TAOUSDT	+0.0102%	4h	302.38	−0.422%	$1.1M	$7.7M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	302.73	−0.305%	$166K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	302.59	−0.352%	$619	$491K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	302.14	−0.501%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	302.44	−0.401%	$357K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	302.23	−0.470%	$431K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0208%	1h	302.39	−0.418%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.21	−0.148%	$4.2M	$9.3M	100x	as long as short
Lighter TAOshort	+0.0344%	1h	302.42	−0.409%	$1.6M	$5.3M	5x
Nado TAO-PERP	+0.0377%	1h	302.48	−0.389%	$816K	$1.9M	10x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	302.47	−0.392%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0423%	1h	303.70	+0.013%	$378K	$757K	10x	as long as short
Phoenix TAO	+0.0521%	1h	304.10	+0.145%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	302.33	−0.437%	$348	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	302.44	−0.401%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	302.58	−0.356%	$1.4M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1045%	1h	302.28	−0.456%	$5.7M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1089%	1h	302.73	−0.306%	$91.9M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	302.65	−0.333%	$409K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.670%	$22K	$264	12x	as long as short