Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0595%/8h= +65.1% APRpaid last 24h +0.177%

Price spread now: Reya against Variational Omni+0.024%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Reya is 0.024% dearer against Variational Omni than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TAO	303.56	0.0100	pay 0.0050% / 4h	1h 30m	$3.7M	$6.7M	—
Short	Reya TAORUSDPERP	303.63	0.0695	get 0.0087% / 1h	30m 51s	$349	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.024%Rate

Funding earned: $124.87
Price spread: +0.024% → 0.000%: $2.42
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $121.29
Costs to cover: 0.060%
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Reya: 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 Variational Omni RFQ quote, 3 min ago	2.87 bp	doesn't fit	14.8 bp −$148	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Bulk TAO-USD	−0.0186%	1h	303.81	+0.082%	$162K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	303.58	+0.007%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.35	−0.068%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.76	+0.066%	$44K	$536K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	302.92	−0.211%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	302.86	−0.232%	$84.7M	$413.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	302.98	−0.191%	$58.6M	$121.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	302.90	−0.217%	$24.4M	$95.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.94	+0.125%	$79K	$643K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	302.70	−0.283%	$12.1M	$48.8M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	302.78	−0.257%	$110.6M	$125.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	302.66	−0.297%	$18.4M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	302.57	−0.326%	$33.8M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	302.89	−0.221%	—	$30.4M	—	as long as short
Variational Omni TAOlong	+0.0100%	4h	303.56	long leg	$3.7M	$6.7M	—
edgeX TAOUSDC	+0.0100%	4h	303.27	−0.096%	$39K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	302.58	−0.322%	$500K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.45	−0.036%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.79	+0.076%	$74K	$595K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.73	+0.055%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.18	−0.125%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.09	−0.155%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.21	−0.115%	$121K	$365K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	302.71	−0.280%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.34	−0.074%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	303.64	+0.026%	$3K	$494K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	303.80	+0.080%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.92	+0.119%	$359K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.42	−0.046%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0192%	1h	303.19	−0.123%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.24	−0.105%	$4.2M	$9.3M	100x	as long as short
Nado TAO-PERP	+0.0341%	1h	303.85	+0.095%	$820K	$1.9M	10x	as long as short
Lighter TAO	+0.0360%	1h	303.13	−0.142%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	303.93	+0.122%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0435%	1h	302.79	−0.254%	$377K	$757K	10x	as long as short
Phoenix TAO	+0.0521%	1h	304.00	+0.145%	$322K	$491K	5x	as long as short
Reya TAORUSDPERPshort	+0.0695%	1h	303.63	+0.024%	$349	—	20x
Extended TAO-USD	+0.0816%	1h	302.73	−0.273%	$825K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	304.00	+0.145%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.14	−0.138%	$5.7M	$19.7M	50x	as long as short
Hyperliquid TAO	+0.1053%	1h	303.10	−0.152%	$92.0M	$80.5M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.92	+0.118%	$411K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.703%	$22K	$264	12x	as long as short