Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0598%/8h= +65.5% APRpaid last 24h +0.178%

Price spread now: Reya against Gate+0.067%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Reya is 0.067% dearer against Gate than usual: you sell high and buy low: +$7 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	Gate TAO_USDT	318.50	0.0100	pay 0.0050% / 4h	5m 01s	$14.8M	$52.4M	50x
Short	Reya TAORUSDPERP	318.71	0.0698	get 0.0087% / 1h	5m 01s	$367	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Gate. 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 GatebpFee ReyabpOrdersPrice spread, now +0.067%Rate

Funding earned: $125.63
Price spread: +0.067% → 0.000%: $6.71
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: $111.33
Costs to cover: 0.210%
Break-even: 0.8 days

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	3.14 bp	16.4 bp −$16	35.2 bp −$352	59.8 bp −$5,978	95.4 bp −$47.7K
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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	318.46	−0.013%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0063%	1h	318.46	−0.013%	$128K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.85	+0.110%	$49K	$716K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.40	−0.031%	$26.5M	$131.9M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	318.50	long leg	$14.8M	$52.4M	50x
KuCoin TAOUSDTM	+0.0100%	4h	318.67	+0.053%	$17.9M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.57	+0.022%	$35.9M	$58.1M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.70	+0.063%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.56	+0.019%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.18	−0.100%	$117K	$592K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX TAO/USD [WBTC.b-USDC]	L +0.0103% / S +0.0138%	1h	318.49	−0.002%	$411K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	318.65	+0.047%	$652	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	318.90	+0.124%	$175K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0138%	1h	318.99	+0.154%	$46K	$259K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0181%	4h	318.74	+0.075%	$52K	$295K	10x	as long as short
Binance TAOUSDT	+0.0189%	4h	318.63	+0.041%	$93.2M	$533.4M	75x	as long as short
MEXC TAO_USDT	+0.0192%	4h	318.85	+0.110%	$104.3M	$152.9M	300x	as long as short
edgeX TAOUSDC	+0.0195%	4h	319.07	+0.179%	$42K	$320K	10x	as long as short
Bulk TAO-USD	+0.0217%	1h	317.92	−0.181%	$169K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0263%	8h	318.63	+0.040%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0278%	4h	318.79	+0.091%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0282%	4h	318.64	+0.044%	$70.0M	$157.2M	50x	as long as short
Bullet TAO-USD	+0.0305%	1h	318.80	+0.094%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	318.69	+0.059%	$374K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0314%	4h	318.68	+0.055%	$542K	$896K	10x	as long as short
Aster TAOUSDT	+0.0350%	4h	318.56	+0.019%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	318.74	+0.075%	$906K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0429%	4h	318.88	+0.119%	$4.7M	$11.0M	100x	as long as short
Phemex TAOUSDT	+0.0435%	4h	318.62	+0.038%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0472%	1h	318.75	+0.079%	$777K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	319.10	+0.188%	$100K	$384K	5x	as long as short
Variational Omni TAO	+0.0574%	4h	318.65	+0.048%	$5.6M	$10.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0599%	1h	318.74	+0.075%	$15K	$1.9M	25x	as long as short
Phoenix TAO	+0.0629%	1h	319.30	+0.251%	$321K	$703K	5x	as long as short
Lighter TAO	+0.0648%	1h	319.05	+0.173%	$1.6M	$6.9M	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	318.95	+0.141%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0694%	1h	319.00	+0.157%	$94.4M	$110.2M	5x	as long as short
Reya TAORUSDPERPshort	+0.0698%	1h	318.71	+0.067%	$367	—	20x
Backpack TAO_USDC_PERP	+0.0718%	1h	319.05	+0.173%	$440K	$981K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0831%	1h	318.96	+0.145%	$6.0M	$21.7M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.77	+0.086%	$452K	$662K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.76	+0.396%	$1.3M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.44	+1.237%	$23K	$2K	12x	as long as short