Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.1425%/8hnext payment +$1.78 per $10,000 · paid last 24h +0.187%

Price spread now: RISEx against Bulk+1.420%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$120as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on Bulk Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.538%+$54 on $10k

Price spread, last 3 days (all we have)−1.246%−$125 · spread now +1.420%, 7d avg +0.023%

Together, before fees−0.708%−$71 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and RISEx is 1.397% dearer against Bulk than usual: you sell high and buy low: +$140 more if the spread goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk TAO-USD	288.22	−0.0948	get 0.0118% / 1h	23m 06s	$190K	$44K	10x
Short	RISEx TAO/USDC	292.31	0.0478	get 0.0060% / 1h	23m 06s	$336K	$451K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bulk. 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 BulkbpFee RISExbpOrdersPrice spread, now +1.420%Rate

Funding earned: $299.28
Price spread: +1.420% → +0.023%: $139.68
Slippage, 4 orders: −$6.69
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: $419.28
Costs to cover: 0.197%
Break-even: from the start

Slippage from Bulk: live order book, 10 min ago; RISEx: live order book, 9 min ago.

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 Bulk live order book, 10 min ago	0.17 bp	4.4 bp −$4	7.3 bp −$73	61.6 bp −$6,158	doesn't fit
Sell RISEx live order book, 9 min ago	2.57 bp	5.7 bp −$6	42.9 bp −$429	doesn't fit	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-USDlong	−0.0948%	1h	288.22	long leg	$190K	$44K	10x
Kraken Futures PF_TAOUSD	−0.0159%	1h	292.38	+1.442%	$5.3M	$13.8M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	292.40	+1.450%	$75K	$35K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	292.14	+1.362%	$28K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	292.20	+1.381%	$33K	$476K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	292.37	+1.441%	$1.7M	$4.9M	50x	as long as short
Pacifica TAO	+0.0100%	1h	292.39	+1.446%	$339K	$373K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	292.23	+1.391%	$79.4M	$333.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	292.21	+1.384%	$51.2M	$87.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	292.10	+1.346%	$23.3M	$71.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus TAO-USD	+0.0100%	1h	292.56	+1.506%	$128K	$579K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	291.90	+1.277%	$11.6M	$44.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	292.14	+1.360%	$104.6M	$105.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	292.22	+1.388%	$19.7M	$21.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	292.06	+1.332%	$33.1M	$36.8M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	292.21	+1.384%	—	$29.7M	—	as long as short
Variational Omni TAO	+0.0100%	4h	294.61	+2.218%	$3.2M	$5.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	293.87	+1.960%	$38K	$272K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	294.38	+2.137%	$516K	$871K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	293.54	+1.846%	$44K	$266K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	292.40	+1.450%	$83K	$506K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	292.23	+1.391%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	292.08	+1.339%	$54K	$235K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	292.06	+1.332%	$1K	$1.6M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	292.33	+1.426%	$122K	$312K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	292.15	+1.364%	$3.1M	$7.5M	50x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	292.37	+1.440%	$3K	$339K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	292.30	+1.415%	$161K	$998	3x	as long as short
Paradex TAO-USD-PERP	+0.0105%	8h	292.24	+1.395%	$14K	$376	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0135%	1h	292.29	+1.411%	$23K	$1.0M	25x	as long as short
Extended TAO-USD	+0.0168%	1h	292.14	+1.361%	$805K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0170%	1h	292.26	+1.402%	$1.0M	$1.3M	10x	as long as short
Phoenix TAO	+0.0336%	1h	294.20	+2.075%	$312K	$158K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	292.24	+1.395%	$4.0M	$7.2M	100x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	292.46	+1.471%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0440%	1h	292.55	+1.502%	$1.3M	$2.4M	5x	as long as short
RISEx TAO/USDCshort	+0.0478%	1h	292.31	+1.420%	$336K	$451K	5x
GMX TAO/USD [WBTC.b-USDC]	L +0.0480% / S −0.0195%	1h	292.17	+1.372%	$440K	—	100x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	292.13	+1.356%	$336	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0872%	1h	293.09	+1.690%	$1.5M	$4.2M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0893%	1h	292.59	+1.516%	$405K	$498K	10x	as long as short
Hyperliquid TAO	+0.1296%	1h	292.75	+1.572%	$83.5M	$55.4M	5x	as long as short
Injective TAO/USDC PERP	+0.2947%	1h	291.06	+0.985%	$21K	$39K	12x	as long as short