Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0599%/8h= −65.6% APRpaid last 24h −0.178%

Price spread now: SunX against Reya−0.079%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 SunX

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 SunX is 0.079% cheaper against Reya than usual: you would sell low and buy high (−$8 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	317.54	0.0699	pay 0.0087% / 1h	13m 18s	$365	—	20x
Short	SunX TAO-USDT	317.29	0.0100	get 0.0050% / 4h	2h 13m	$2K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$125.77
Price spread: −0.079% → 0.000%: −$7.87
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$147.65
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	500.09 bp	doesn't fit	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 exchanges

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 −0.0003%	1h	317.80	+0.083%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.19	+0.205%	$51K	$633K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	318.13	+0.186%	$69.8M	$155.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.10	+0.176%	$27.0M	$129.4M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	318.16	+0.195%	$169K	$0	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.90	+0.113%	$15.7M	$49.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.09	+0.173%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.95	+0.129%	$36.0M	$56.7M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.58	+0.013%	$45K	$256K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.96	+0.132%	$81K	$1.1M	5x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDTshort	+0.0100%	4h	317.29	−0.079%	$2K	$1.8M	20x
HTX TAO-USDT	+0.0100%	4h	317.68	+0.044%	$117K	$556K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.09	+0.173%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0105%	8h	318.26	+0.227%	$3K	$1.3M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	318.05	+0.159%	$175K	$998	3x	as long as short
BingX TAO-USDT	+0.0134%	4h	318.09	+0.173%	—	$37.8M	—	as long as short
edgeX TAOUSDC	+0.0135%	4h	317.88	+0.106%	$42K	$326K	10x	as long as short
Binance TAOUSDT	+0.0137%	4h	318.11	+0.180%	$93.4M	$515.2M	75x	as long as short
MEXC TAO_USDT	+0.0138%	4h	318.18	+0.202%	$111.2M	$152.0M	300x	as long as short
Paradex TAO-USD-PERP	+0.0202%	8h	318.20	+0.208%	$14K	$876	10x	as long as short
Extended TAO-USD	+0.0248%	1h	318.06	+0.165%	$961K	$2.1M	25x	as long as short
Orderly PERP_TAO_USDC	+0.0254%	4h	318.04	+0.157%	$53K	$262K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0266%	4h	317.88	+0.107%	$540K	$814K	10x	as long as short
Pacifica TAO	+0.0301%	1h	318.27	+0.231%	$372K	$448K	10x	as long as short
Aster TAOUSDT	+0.0311%	4h	318.17	+0.198%	$1.2M	$11.3M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0361% / S −0.0107%	1h	317.88	+0.106%	$374K	—	100x	as long as short
Arcus TAO-USD	+0.0364%	1h	318.45	+0.287%	$100K	$325K	5x	as long as short
Lighter TAO	+0.0368%	1h	318.29	+0.235%	$1.6M	$6.7M	5x	as long as short
BloFin TAO-USDT	+0.0375%	4h	317.86	+0.101%	$4.9M	$10.5M	100x	as long as short
Bullet TAO-USD	+0.0396%	1h	318.17	+0.198%	$12K	$17K	20x	as long as short
Variational Omni TAO	+0.0421%	4h	318.09	+0.172%	$5.7M	$9.8M	—	as long as short
Nado TAO-PERP	+0.0440%	1h	318.11	+0.180%	$700K	$2.0M	10x	as long as short
Phoenix TAO	+0.0567%	1h	318.00	+0.145%	$320K	$712K	5x	as long as short
dYdX TAO-USD	+0.0579%	1h	317.80	+0.082%	$268K	$235K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0671%	1h	318.34	+0.252%	$298K	$1.1M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0682%	1h	318.44	+0.284%	$6.2M	$19.7M	50x	as long as short
Reya TAORUSDPERPlong	+0.0699%	1h	317.54	long leg	$365	—	20x
RISEx TAO/USDC	+0.0701%	1h	318.09	+0.173%	$440K	$704K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0723%	1h	318.19	+0.204%	$14K	$1.9M	25x	as long as short
Hyperliquid TAO	+0.0773%	1h	318.27	+0.230%	$96.0M	$108.3M	5x	as long as short
01 Exchange TAOUSD	+0.0784%	1h	318.61	+0.337%	$3K	$2K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	318.16	+0.195%	$1.1M	$7.7M	50x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	322.26	+1.486%	$23K	$2K	12x	as long as short