Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0848%/8h= −92.9% APRpaid last 24h −0.172%

Price spread now: Bitget against RISEx+0.073%7-day average −0.058% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on RISEx Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.494%−$49 on $10k

Price spread, last 4 days (all we have)−0.188%−$19 · spread now +0.073%, 7d avg −0.058%

Together, before fees−0.682%−$68 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.130% dearer against RISEx than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of −0.058%): +$13 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	323.40	0.0948	pay 0.0118% / 1h	3m 14s	$465K	$650K	5x
Short	Bitget TAOUSDT	323.64	0.0100	get 0.0050% / 4h	2h 03m	$36.5M	$57.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$178.07
Price spread: +0.073% → −0.058%: $13.04
Slippage, 4 orders: −$15.98
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$199.01
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from RISEx: live order book, 45 min ago; Bitget: live order book, 1 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, 45 min ago	1.75 bp	4.8 bp −$5	16.5 bp −$165	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.24 bp	11.5 bp −$12	25.6 bp −$256	47.4 bp −$4,743	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
Bulk TAO-USD	−0.1195%	1h	319.01	−1.358%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.17	−0.074%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0027%	1h	323.34	−0.022%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.80	+0.122%	$27.0M	$128.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.60	+0.060%	$14.3M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.57	+0.051%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	323.64	+0.073%	$36.5M	$57.7M	50x
Polymarket Perps TAO-USD	+0.0100%	1h	323.42	+0.005%	$83K	$971K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.08	−0.100%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	323.18	−0.070%	$118K	$566K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.80	+0.122%	$3.3M	$8.1M	50x	as long as short
Popdex TAOUSDT	+0.0104%	1h	323.44	+0.011%	$41K	$687K	20x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	323.30	−0.032%	$3K	$962K	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	323.62	+0.067%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	323.53	+0.039%	$53K	$291K	10x	as long as short
edgeX TAOUSDC	+0.0124%	4h	323.29	−0.034%	$43K	$316K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0143%	1h	323.07	−0.103%	$435K	—	100x	as long as short
MEXC TAO_USDT	+0.0144%	4h	323.90	+0.153%	$103.8M	$149.1M	300x	as long as short
Binance TAOUSDT	+0.0144%	4h	323.92	+0.159%	$93.6M	$517.7M	75x	as long as short
Pacifica TAO	+0.0233%	1h	323.54	+0.042%	$368K	$421K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0294%	1h	324.15	+0.231%	$6.1M	$21.6M	50x	as long as short
Nado TAO-PERP	+0.0295%	1h	323.33	−0.024%	$816K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0295%	8h	323.38	−0.009%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0305%	4h	323.91	+0.156%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USD	+0.0323%	1h	323.46	+0.018%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0363%	1h	323.48	+0.024%	$24K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0384%	4h	323.38	−0.008%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0406%	4h	323.93	+0.162%	—	$34.0M	—	as long as short
Bybit TAOUSDT	+0.0441%	4h	323.85	+0.138%	$71.1M	$154.5M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.430%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	323.71	+0.094%	$111K	$377K	5x	as long as short
ApeX Omni TAOUSDT	+0.0495%	1h	323.55	+0.045%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0496%	1h	323.48	+0.022%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	+0.029%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	+0.054%	$5.7M	$10.1M	—	as long as short
Reya TAORUSDPERP	+0.0697%	1h	323.45	+0.014%	$372	—	20x	as long as short
Lighter TAO	+0.0800%	1h	324.19	+0.241%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0808%	1h	324.22	+0.252%	$95.7M	$109.6M	5x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	324.06	+0.203%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0850%	1h	324.07	+0.206%	$321K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	324.00	+0.184%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDClong	+0.0948%	1h	323.40	long leg	$465K	$650K	5x
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.066%	$24K	$2K	12x	as long as short