Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0455%/8h= +49.8% APRpaid last 24h +0.138%

Price spread now: RISEx against Bybit−0.027%7-day average −0.006% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$370.366% of the position

Long on Bybit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.459%+$46 on $10k

Price spread, last 4 days (all we have)+0.471%+$47 · spread now −0.027%, 7d avg −0.006%

Together, before fees+0.930%+$93 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.020% cheaper against Bybit than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of −0.006%). If the spread goes back, that is −$2 on $10k: about 4 hours of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	316.83	0.0704	pay 0.0352% / 4h	1h 46m	$67.4M	$139.5M	50x
Short	RISEx TAO/USDC	316.75	0.1159	get 0.0145% / 1h	46m 27s	$448K	$626K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bybit. 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 BybitbpFee RISExbpOrdersPrice spread, now −0.027%Rate

Funding earned: $95.51
Price spread: −0.027% → −0.006%: −$2.04
Slippage, 4 orders: −$19.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee RISEx: 3 bp × 2 orders: −$6
Net: $56.84
Costs to cover: 0.366%
Break-even: 2.8 days

Slippage from Bybit: live order book, 3 min ago; RISEx: live order book, 17 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 Bybit live order book, 3 min ago	0.16 bp	13.9 bp −$14	24.4 bp −$244	50.5 bp −$5,047	doesn't fit
Sell RISEx live order book, 17 min ago	3.45 bp	6.5 bp −$7	doesn't fit	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-USD	−0.2257%	1h	317.17	+0.107%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.54	−0.093%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.33	−0.156%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.84	+0.003%	$44K	$651K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.78	−0.014%	$91.6M	$469.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.80	−0.009%	$26.2M	$115.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.40	−0.136%	$12.9M	$49.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.76	−0.022%	$105.5M	$138.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.32	−0.161%	$18.1M	$30.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.15	−0.215%	$35.3M	$53.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	315.81	−0.322%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.54	−0.092%	$75K	$758K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.60	−0.073%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.58	−0.395%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.74	−0.344%	$129K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.28	−0.174%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.77	−0.017%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	316.81	−0.006%	$1K	$746K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0164% / S +0.0105%	1h	316.39	−0.139%	$430K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0212%	4h	317.35	+0.164%	$528K	$946K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0229%	1h	315.84	−0.314%	$20K	$1.6M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.45	−0.435%	$5.6M	$20.5M	50x	as long as short
Bullet TAO-USD	+0.0282%	1h	316.77	−0.018%	$12K	$18K	20x	as long as short
Aster TAOUSDT	+0.0296%	4h	316.64	−0.060%	$1.2M	$9.3M	50x	as long as short
Paradex TAO-USD-PERP	+0.0338%	8h	316.70	−0.041%	$14K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	−0.262%	—	$10.3M	100x	as long as short
Pacifica TAO	+0.0448%	1h	316.83	0.000%	$374K	$396K	10x	as long as short
Phoenix TAO	+0.0504%	1h	316.70	−0.041%	$332K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	317.14	+0.098%	$100K	$489K	5x	as long as short
Nado TAO-PERP	+0.0558%	1h	316.58	−0.077%	$757K	$2.1M	10x	as long as short
BingX TAO-USDT	+0.0684%	4h	316.61	−0.069%	—	$30.3M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.36	−0.150%	$364	—	20x	as long as short
Bybit TAOUSDTlong	+0.0704%	4h	316.83	long leg	$67.4M	$139.5M	50x
01 Exchange TAOUSD	+0.0728%	1h	317.00	+0.054%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0866%	1h	316.68	−0.047%	$320K	$802K	10x	as long as short
Variational Omni TAO	+0.0881%	4h	317.62	+0.250%	$6.0M	$9.6M	—	as long as short
Extended TAO-USD	+0.0920%	1h	316.71	−0.038%	$896K	$2.3M	25x	as long as short
ApeX Omni TAOUSDT	+0.0923%	1h	316.03	−0.253%	$46K	$253K	50x	as long as short
Lighter TAO	+0.0984%	1h	317.19	+0.114%	$1.6M	$6.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.65	+0.259%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDCshort	+0.1159%	1h	316.75	−0.027%	$448K	$626K	5x
Hyperliquid TAO	+0.1433%	1h	317.11	+0.088%	$100.0M	$98.4M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	319.69	+0.903%	$23K	$2K	12x	as long as short