Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0763%/8h= −83.5% APRpaid last 24h −0.113%

Price spread now: BingX against RISEx−0.294%7-day average −0.021% · 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−$51as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on RISEx Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.430%−$43 on $10k

Price spread, last 4 days (all we have)+0.244%+$24 · spread now −0.294%, 7d avg −0.021%

Together, before fees−0.187%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and BingX is 0.273% cheaper against RISEx than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	319.75	0.1141	pay 0.0143% / 1h	48m 17s	$423K	$590K	5x
Short	BingX TAO-USDT	318.81	0.0378	get 0.0189% / 4h	3h 48m	—	$30.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.294%Rate

Funding earned: −$160.19
Price spread: −0.294% → −0.021%: −$27.26
Slippage, 4 orders: −$7.62
Fee RISEx: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$211.07
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from RISEx: live order book, 25 min ago; BingX: live order book, 10 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, 25 min ago	0.48 bp	3.5 bp −$4	28.3 bp −$283	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	1.10 bp	8.5 bp −$8	15.7 bp −$157	30.5 bp −$3,051	91.3 bp −$45.6K

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
Bulk TAO-USD	−0.0882%	1h	320.07	+0.100%	$170K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.36	−0.122%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.44	−0.409%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.44	−0.097%	$42K	$580K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.83	−0.288%	$91.7M	$441.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.70	−0.328%	$26.0M	$106.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.10	−0.203%	$12.9M	$49.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.32	−0.134%	$106.2M	$132.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.34	−0.128%	$18.9M	$28.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.58	−0.366%	$35.6M	$49.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	318.79	−0.299%	$36K	$288K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.75	0.000%	$48K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.73	−0.319%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.75	−0.313%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.77	+0.319%	$128K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.40	+0.203%	$3.5M	$7.8M	50x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	319.68	−0.022%	$657	$598K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.07	−0.213%	$175K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0104%	1h	318.60	−0.360%	$21K	$1.5M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0168%	4h	320.12	+0.115%	$532K	$945K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0085%	1h	318.35	−0.438%	$461K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	319.87	+0.038%	$379K	$373K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.95	+0.063%	$84K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0232%	8h	319.55	−0.062%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0235%	4h	319.61	−0.044%	$1.1M	$8.1M	50x	as long as short
Bullet TAO-USD	+0.0274%	1h	319.16	−0.185%	$12K	$17K	20x	as long as short
Variational Omni TAO	+0.0305%	4h	320.13	+0.117%	$5.5M	$8.6M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	321.60	+0.579%	$4.5M	$10.9M	100x	as long as short
Polymarket Perps TAO-USD	+0.0369%	1h	319.56	−0.059%	$99K	$634K	5x	as long as short
BingX TAO-USDTshort	+0.0378%	4h	318.81	−0.294%	—	$30.7M	—
Kraken Futures PF_TAOUSD	+0.0481%	1h	318.90	−0.266%	$5.8M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	319.50	−0.078%	$334K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	319.58	−0.053%	$23K	$501	12x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	319.23	−0.162%	$367	—	20x	as long as short
Bybit TAOUSDT	+0.0706%	4h	319.08	−0.210%	$65.8M	$130.5M	50x	as long as short
Nado TAO-PERP	+0.0769%	1h	319.51	−0.073%	$892K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	319.91	+0.050%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	322.20	+0.766%	$1.5M	$6.1M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1004%	1h	321.00	+0.391%	$322K	$820K	10x	as long as short
Extended TAO-USD	+0.1080%	1h	318.72	−0.321%	$929K	$2.2M	25x	as long as short
RISEx TAO/USDClong	+0.1141%	1h	319.75	long leg	$423K	$590K	5x
Lighter TAO	+0.1728%	1h	320.66	+0.285%	$1.7M	$5.9M	5x	as long as short
Hyperliquid TAO	+0.2867%	1h	320.16	+0.128%	$104.6M	$88.8M	5x	as long as short