Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0716%/8h= −78.4% APRpaid last 24h −0.161%

Price spread now: Binance against RISEx−0.025%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.245% of the position

Long on RISEx Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.481%−$48 on $10k

Price spread, last 4 days (all we have)−0.173%−$17 · spread now −0.025%, 7d avg −0.020%

Together, before fees−0.653%−$65 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: −$21 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	311.65	0.0816	pay 0.0102% / 1h	43m 51s	$433K	$650K	5x
Short	Binance TAOUSDT	311.57	0.0100	get 0.0050% / 4h	3h 43m	$89.5M	$498.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against RISEx. 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 RISExbpFee BinancebpOrdersPrice spread, now −0.025%Rate

Funding earned: −$150.37
Price spread: −0.025% → −0.020%: −$0.5
Slippage, 4 orders: −$8.52
Fee RISEx: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$175.39
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from RISEx: live order book, 10 min ago; Binance: live order book, 15 min ago.

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 RISEx live order book, 10 min ago	1.59 bp	4.6 bp −$5	25.8 bp −$258	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.16 bp	7.6 bp −$8	14.5 bp −$145	34.5 bp −$3,446	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
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.84	+0.061%	$5.5M	$20.7M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	311.42	−0.073%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.72	+0.024%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.85	+0.065%	$45K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.87	+0.072%	$2K	$813K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.49	−0.051%	$355K	$413K	10x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	311.57	−0.025%	$89.5M	$498.2M	75x
Bybit TAOUSDT	+0.0100%	4h	311.64	−0.002%	$67.0M	$150.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.50	−0.047%	$25.9M	$120.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.10	+1.108%	$167K	$2K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	311.40	−0.079%	$13.0M	$49.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.71	+0.020%	$101.1M	$144.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.60	−0.015%	$17.8M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.38	−0.085%	$34.8M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.58	−0.021%	—	$33.1M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.19	+0.176%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.93	+0.090%	$529K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.96	+0.101%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.74	+0.030%	$82K	$870K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.03	+0.123%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.88	+0.075%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.42	−0.073%	$109K	$537K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.89	+0.078%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0114%	4h	311.78	+0.043%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0118%	4h	311.81	+0.052%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0141% / S +0.0131%	1h	311.71	+0.021%	$415K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0142%	8h	311.40	−0.079%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0184%	1h	311.58	−0.022%	$913K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.78	+0.043%	$101K	$392K	5x	as long as short
Hyperliquid TAO	+0.0235%	1h	312.08	+0.139%	$91.6M	$107.2M	5x	as long as short
Nado TAO-PERP	+0.0263%	1h	311.92	+0.089%	$790K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0324%	4h	312.10	+0.146%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.24	+0.190%	$4.5M	$10.8M	100x	as long as short
Phemex TAOUSDT	+0.0366%	4h	311.93	+0.091%	$3.2M	$8.1M	50x	as long as short
Lighter TAO	+0.0408%	1h	312.12	+0.153%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0409%	1h	312.04	+0.126%	$310K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	311.85	+0.065%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0457%	1h	312.50	+0.274%	$311K	$711K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0530%	1h	311.92	+0.088%	$29K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.94	+0.093%	$359	—	20x	as long as short
RISEx TAO/USDClong	+0.0816%	1h	311.65	long leg	$433K	$650K	5x
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.52	+0.280%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+1.840%	$23K	$2K	12x	as long as short