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: KuCoin against Reya−0.041%7-day average — · you buy dearer than you sell

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

Long on Reya Short on KuCoin

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 against this trade now: funding costs −$18 a day on $10k at the current rate, and KuCoin is 0.041% cheaper against Reya than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	317.89	0.0698	pay 0.0087% / 1h	4m 07s	$366	—	20x
Short	KuCoin TAOUSDTM	317.76	0.0100	get 0.0050% / 4h	4m 07s	$17.8M	$32.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$125.63
Price spread: −0.041% → 0.000%: −$4.08
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$147.7
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; KuCoin: 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 KuCoin live order book, 5 min ago	1.72 bp	16.1 bp −$16	33.9 bp −$339	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	317.64	−0.077%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0062%	1h	317.95	+0.018%	$128K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.40	+0.161%	$49K	$716K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.60	−0.091%	$26.4M	$131.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.70	−0.060%	$14.8M	$52.4M	50x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	317.76	−0.041%	$17.8M	$32.5M	75x
Bitget TAOUSDT	+0.0100%	4h	317.33	−0.176%	$35.8M	$57.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.88	−0.003%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.71	−0.056%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.86	−0.324%	$116K	$590K	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	317.59	−0.094%	$410K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	318.11	+0.069%	$2K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	317.98	+0.028%	$175K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0138%	1h	318.99	+0.346%	$46K	$259K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0181%	4h	317.81	−0.025%	$52K	$295K	10x	as long as short
MEXC TAO_USDT	+0.0188%	4h	317.88	−0.003%	$104.2M	$152.9M	300x	as long as short
Binance TAOUSDT	+0.0189%	4h	317.84	−0.016%	$93.0M	$533.4M	75x	as long as short
edgeX TAOUSDC	+0.0195%	4h	319.07	+0.371%	$42K	$320K	10x	as long as short
Bulk TAO-USD	+0.0217%	1h	317.92	+0.011%	$169K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0263%	8h	318.40	+0.161%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0278%	4h	317.64	−0.079%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0280%	4h	317.86	−0.009%	$69.8M	$157.1M	50x	as long as short
Bullet TAO-USD	+0.0304%	1h	317.85	−0.012%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	318.44	+0.172%	$374K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0314%	4h	318.68	+0.247%	$542K	$896K	10x	as long as short
Aster TAOUSDT	+0.0350%	4h	317.88	−0.003%	$1.3M	$11.0M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0378%	1h	317.88	−0.003%	$15K	$1.9M	25x	as long as short
Extended TAO-USD	+0.0384%	1h	317.75	−0.045%	$906K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0429%	4h	318.88	+0.312%	$4.7M	$11.0M	100x	as long as short
Phemex TAOUSDT	+0.0449%	4h	317.86	−0.009%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0473%	1h	318.20	+0.098%	$776K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	318.70	+0.255%	$100K	$384K	5x	as long as short
Variational Omni TAO	+0.0574%	4h	318.65	+0.240%	$5.6M	$10.1M	—	as long as short
Phoenix TAO	+0.0629%	1h	319.30	+0.444%	$321K	$703K	5x	as long as short
Lighter TAO	+0.0648%	1h	318.00	+0.034%	$1.6M	$6.9M	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	318.63	+0.233%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0689%	1h	318.09	+0.063%	$94.1M	$110.2M	5x	as long as short
Reya TAORUSDPERPlong	+0.0698%	1h	317.89	long leg	$366	—	20x
Backpack TAO_USDC_PERP	+0.0722%	1h	317.87	−0.006%	$439K	$981K	10x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.31	+0.132%	$451K	$661K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0834%	1h	317.92	+0.009%	$6.0M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.64	+0.236%	$1.3M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.44	+1.431%	$23K	$2K	12x	as long as short