Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h −0.118%

Price spread now: Variational Omni against Lighter+0.080%7-day average −0.028% · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.204%−$20 on $10k

Price spread, last 7 days−0.103%−$10 · spread now +0.080%, 7d avg −0.028%

Together, before fees−0.307%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$31 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.108% dearer against Lighter than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	316.63	0.0528	pay 0.0066% / 1h	35m 27s	$1.6M	$6.9M	5x
Short	Variational Omni TAO	316.88	0.0534	get 0.0267% / 4h	35m 27s	$5.5M	$10.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. 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 LighterbpFee Variational OmnibpOrdersPrice spread, now +0.080%Rate

Funding earned: $1.22
Price spread: +0.080% → −0.028%: $10.75
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.97
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 8 min ago; Variational Omni: RFQ quote, 4 min ago. 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 Lighter live order book, 8 min ago	2.46 bp	4.3 bp −$4	19.7 bp −$197	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.87 bp	doesn't fit	21.1 bp −$211	45.7 bp −$4,573	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.51	−0.037%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0037%	1h	316.13	−0.159%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.51	−0.038%	$44K	$711K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.30	−0.105%	$26.3M	$130.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.20	−0.136%	$14.4M	$51.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.44	−0.060%	$17.7M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.14	−0.155%	$35.6M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.70	+0.022%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.30	−0.105%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.64	+0.003%	$1K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	315.90	−0.231%	$115K	$604K	20x	as long as short
Katana Perps TAO-USD	+0.0107%	8h	316.29	−0.108%	$4K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0107% / S +0.0136%	1h	316.52	−0.034%	$403K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	316.92	+0.090%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0149%	4h	316.68	+0.015%	$52K	$294K	10x	as long as short
Binance TAOUSDT	+0.0167%	4h	316.51	−0.038%	$91.7M	$530.6M	75x	as long as short
MEXC TAO_USDT	+0.0170%	4h	316.46	−0.054%	$99.8M	$151.5M	300x	as long as short
edgeX TAOUSDC	+0.0179%	4h	316.75	+0.037%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0236%	8h	316.70	+0.022%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0263%	4h	316.56	−0.022%	$69.3M	$156.6M	50x	as long as short
Bullet TAO-USD	+0.0269%	1h	316.84	+0.066%	$12K	$17K	20x	as long as short
BingX TAO-USDT	+0.0280%	4h	316.36	−0.086%	—	$37.0M	—	as long as short
Pacifica TAO	+0.0313%	1h	316.66	+0.010%	$371K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.821%	$170K	$0	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0318%	1h	316.74	+0.034%	$15K	$1.9M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	317.09	+0.146%	$541K	$918K	10x	as long as short
Extended TAO-USD	+0.0320%	1h	316.24	−0.124%	$903K	$2.4M	25x	as long as short
Aster TAOUSDT	+0.0326%	4h	316.44	−0.060%	$1.3M	$11.0M	50x	as long as short
BloFin TAO-USDT	+0.0415%	4h	316.72	+0.028%	$4.7M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0473%	1h	316.53	−0.032%	$102K	$381K	5x	as long as short
Nado TAO-PERP	+0.0487%	1h	316.31	−0.101%	$786K	$2.0M	10x	as long as short
Phemex TAOUSDT	+0.0509%	4h	316.69	+0.019%	$3.2M	$8.2M	50x	as long as short
Lighter TAOlong	+0.0528%	1h	316.63	long leg	$1.6M	$6.9M	5x
Variational Omni TAOshort	+0.0534%	4h	316.88	+0.080%	$5.5M	$10.2M	—
Phoenix TAO	+0.0629%	1h	317.20	+0.180%	$316K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0675%	1h	316.98	+0.110%	$292K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	316.55	−0.026%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.35	−0.089%	$364	—	20x	as long as short
Hyperliquid TAO	+0.0737%	1h	316.62	−0.003%	$93.6M	$110.1M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	316.36	−0.087%	$443K	$670K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0836%	1h	316.90	+0.085%	$5.9M	$21.6M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	316.71	+0.025%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+1.993%	$23K	$2K	12x	as long as short