Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0599%/8h= +65.6% APRpaid last 24h +0.176%

Price spread now: Reya against Katana Perps−0.007%7-day average — · you buy dearer than you sell

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

Long on Katana Perps 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps TAO-USD	314.53	0.0098	pay 0.0098% / 8h	4h 10m	$644	$799K	5x
Short	Reya TAORUSDPERP	314.51	0.0697	get 0.0087% / 1h	10m 15s	$362	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Katana Perps. 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 Katana PerpsbpFee ReyabpOrdersPrice spread, now −0.007%Rate

Funding earned: $125.72
Price spread: −0.007% → 0.000%: −$0.67
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Reya: 3 bp × 2 orders: −$6
Net: $115.26
Costs to cover: 0.098%
Break-even: 0.6 days

Slippage unknown: Katana Perps: no order-book sample; 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Katana Perps and 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
dYdX TAO-USD	0.0000%	1h	314.30	−0.073%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.42	−0.036%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.60	+0.022%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.59	+0.019%	$43K	$669K	20x	as long as short
Katana Perps TAO-USDlong	+0.0098%	8h	314.53	long leg	$644	$799K	5x
Binance TAOUSDT	+0.0100%	4h	314.52	−0.003%	$90.9M	$495.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.61	+0.025%	$67.8M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.40	−0.041%	$26.0M	$120.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.30	−0.073%	$12.9M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.58	+0.016%	$110.7M	$144.2M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.41	−0.038%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.53	0.000%	$35.2M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.51	−0.006%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.09	+0.177%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.71	+0.056%	$521K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.38	+0.270%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.42	−0.035%	$77K	$860K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.60	+0.023%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.53	0.000%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.20	−0.105%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.46	−0.022%	$3.2M	$8.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.68	+0.048%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.69	+0.050%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.64	+0.035%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0145% / S +0.0122%	1h	314.38	−0.046%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0154%	8h	314.62	+0.030%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0171%	4h	314.51	−0.007%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	314.49	−0.013%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0218%	1h	314.69	+0.052%	$800K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0275%	1h	314.71	+0.057%	$92.6M	$106.6M	5x	as long as short
01 Exchange TAOUSD	+0.0328%	1h	314.76	+0.073%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.51	−0.006%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	314.88	+0.111%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0347%	1h	314.56	+0.010%	$315K	$913K	10x	as long as short
Lighter TAO	+0.0360%	1h	314.83	+0.097%	$1.5M	$6.5M	5x	as long as short
Pacifica TAO	+0.0365%	1h	314.49	−0.012%	$359K	$412K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0417%	1h	314.74	+0.068%	$23K	$1.7M	25x	as long as short
Variational Omni TAO	+0.0450%	4h	315.00	+0.148%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.10	+0.181%	$314K	$697K	5x	as long as short
Reya TAORUSDPERPshort	+0.0697%	1h	314.51	−0.007%	$362	—	20x
RISEx TAO/USDC	+0.0991%	1h	314.63	+0.033%	$437K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.30	+0.245%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.164%	$23K	$2K	12x	as long as short