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: HTX against Reya+0.069%7-day average — · you sell dearer than you buy

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

Long on Reya Short on HTX

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

The price spread pays, funding is against you. HTX is 0.069% dearer against Reya than usual: you sell high and buy low (spread +0.069% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	316.54	0.0698	pay 0.0087% / 1h	33m 04s	$364	—	20x
Short	HTX TAO-USDT	316.76	0.0100	get 0.0050% / 4h	33m 04s	$116K	$605K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Reya. 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 ReyabpFee HTXbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$125.59
Price spread: +0.069% → 0.000%: $6.9
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$136.69
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; HTX: live order book, 5 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 Reya no order-book sample	—	—	—	—	—
Sell HTX live order book, 5 min ago	8.86 bp	37.3 bp −$37	doesn't fit	doesn't fit	doesn't fit

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	316.31	−0.072%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0034%	1h	316.93	+0.123%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.03	+0.154%	$44K	$713K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	−0.139%	$26.4M	$130.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.40	−0.045%	$14.5M	$51.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.56	+0.006%	$17.7M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.85	−0.218%	$35.5M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.56	+0.006%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.85	+0.097%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.43	−0.035%	$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-USDTshort	+0.0100%	4h	316.76	+0.069%	$116K	$605K	20x
Katana Perps TAO-USD	+0.0107%	8h	317.11	+0.180%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0107% / S +0.0136%	1h	316.29	−0.079%	$403K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.70	+0.048%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0151%	4h	316.53	−0.004%	$52K	$294K	10x	as long as short
Binance TAOUSDT	+0.0164%	4h	316.32	−0.070%	$91.6M	$530.9M	75x	as long as short
MEXC TAO_USDT	+0.0166%	4h	316.08	−0.146%	$99.9M	$151.6M	300x	as long as short
edgeX TAOUSDC	+0.0179%	4h	316.75	+0.065%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	317.21	+0.210%	$14K	$1K	10x	as long as short
Bullet TAO-USD	+0.0246%	1h	316.65	+0.034%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0256%	4h	316.29	−0.079%	$69.2M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0280%	4h	316.46	−0.026%	—	$37.0M	—	as long as short
GRVT TAO_USDT_Perp	+0.0306%	4h	316.89	+0.109%	$540K	$910K	10x	as long as short
Extended TAO-USD	+0.0312%	1h	316.00	−0.170%	$903K	$2.4M	25x	as long as short
Pacifica TAO	+0.0313%	1h	317.43	+0.281%	$372K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.849%	$170K	$0	10x	as long as short
Aster TAOUSDT	+0.0324%	4h	316.32	−0.069%	$1.3M	$11.0M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0381%	1h	316.58	+0.012%	$15K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0404%	4h	316.58	+0.012%	$4.7M	$10.8M	100x	as long as short
Nado TAO-PERP	+0.0465%	1h	316.68	+0.042%	$787K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.19	+0.205%	$100K	$384K	5x	as long as short
Phemex TAOUSDT	+0.0474%	4h	316.57	+0.009%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0504%	1h	316.76	+0.070%	$1.6M	$6.9M	5x	as long as short
Variational Omni TAO	+0.0534%	4h	316.88	+0.108%	$5.5M	$10.2M	—	as long as short
Phoenix TAO	+0.0629%	1h	317.20	+0.208%	$316K	$703K	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	317.47	+0.293%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0666%	1h	316.53	−0.004%	$292K	$906K	10x	as long as short
Reya TAORUSDPERPlong	+0.0698%	1h	316.54	long leg	$364	—	20x
Hyperliquid TAO	+0.0732%	1h	316.66	+0.037%	$93.6M	$110.2M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.15	+0.194%	$444K	$674K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0837%	1h	316.73	+0.059%	$5.9M	$21.6M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.80	+0.398%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	319.54	+0.947%	$23K	$2K	12x	as long as short