Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0357%/8h= +39.1% APRpaid last 24h +0.106%

Price spread now: Reya against BloFin−0.318%46s7-day average — · you buy dearer than you sell

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

Long on BloFin 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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.318% cheaper against BloFin than usual: you would sell low and buy high (spread −0.318% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 3.0 days of funding at the current rate (+$11 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	311.44	0.0340	pay 0.0170% / 4h	3h 41m	$4.5M	$10.7M	100x
Short	Reya TAORUSDPERP	310.45	0.0697	get 0.0087% / 1h	41m 39s	$357	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against BloFin. 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 BloFinbpFee ReyabpOrdersPrice spread, now −0.318%Rate

Funding earned: $74.94
Price spread: −0.318% → 0.000%: −$31.75
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $25.18
Costs to cover: 0.180%
Break-even: 4.6 days

Slippage unknown: BloFin: live order book, 2 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 BloFin live order book, 2 min ago	2.41 bp	9.8 bp −$10	17.9 bp −$179	37.4 bp −$3,736	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
Kraken Futures PF_TAOUSD	−0.0350%	1h	310.58	−0.276%	$5.5M	$20.7M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	310.89	−0.175%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	310.27	−0.377%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.25	−0.061%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	310.76	−0.218%	$2K	$818K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.29	−0.048%	$355K	$413K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.22	−0.071%	$89.3M	$499.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.11	−0.106%	$66.9M	$150.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.20	−0.077%	$25.9M	$120.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	310.90	−0.173%	$13.0M	$49.7M	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	311.12	−0.103%	$101.1M	$144.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.20	−0.077%	$17.7M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.94	−0.161%	$34.8M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.21	−0.074%	—	$33.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.57	+0.042%	$41K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.95	+0.162%	$529K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.85	+0.132%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	310.52	−0.295%	$82K	$870K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	310.64	−0.257%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	310.52	−0.295%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.32	−0.360%	$108K	$537K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.71	−0.236%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0108%	4h	311.05	−0.125%	$1.2M	$10.4M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0114%	4h	310.49	−0.305%	$52K	$270K	10x	as long as short
Bulk TAO-USD	+0.0125%	1h	311.89	+0.145%	$166K	$333	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0141% / S +0.0131%	1h	310.23	−0.388%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0145%	8h	311.10	−0.109%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0200%	1h	311.17	−0.087%	$908K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.56	+0.039%	$101K	$394K	5x	as long as short
Hyperliquid TAO	+0.0254%	1h	311.35	−0.029%	$91.3M	$107.3M	5x	as long as short
Nado TAO-PERP	+0.0284%	1h	310.57	−0.278%	$789K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0324%	4h	312.10	+0.212%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDTlong	+0.0340%	4h	311.44	long leg	$4.5M	$10.7M	100x
Deribit TAO_USDC-PERPETUAL	+0.0354%	1h	310.57	−0.279%	$21K	$1.8M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0411%	1h	311.14	−0.096%	$309K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	311.37	−0.022%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0448%	1h	311.45	+0.002%	$1.5M	$6.5M	5x	as long as short
Phoenix TAO	+0.0457%	1h	312.50	+0.340%	$311K	$711K	5x	as long as short
Reya TAORUSDPERPshort	+0.0697%	1h	310.45	−0.318%	$357	—	20x
RISEx TAO/USDC	+0.0816%	1h	311.26	−0.056%	$438K	$659K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	311.25	−0.061%	$1.5M	$6.8M	50x	as long as short
Phemex TAOUSDT	+0.1108%	4h	310.68	−0.244%	$3.2M	$8.0M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+1.907%	$23K	$2K	12x	as long as short