Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1059%/8h= −115.9% APRpaid last 24h −0.138%

Price spread now: HTX against RISEx+0.100%7-day average −0.118% · 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−$182as in the Price arb table

costs, in and out, $10k−$2042.038% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.482%−$48 on $10k

Price spread, last 4 days (all we have)−0.165%−$16 · spread now +0.100%, 7d avg −0.118%

Together, before fees−0.646%−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.219% dearer against RISEx than usual: you sell high and buy low (spread +0.100% now, against its 7-day average of −0.118%): +$22 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 4 days (−0.482% in total) that is about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	323.81	0.1159	pay 0.0145% / 1h	24m 45s	$466K	$648K	5x
Short	HTX TAO-USDT	324.13	0.0100	get 0.0050% / 4h	1h 24m	$131K	$482K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$222.31
Price spread: +0.100% → −0.118%: $21.85
Slippage, 4 orders: −$185.76
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$404.22
Costs to cover: 2.038%
Break-even: never at this rate

Slippage from RISEx: live order book, 39 min ago; HTX: live order book, 39 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, 39 min ago	3.45 bp	6.5 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 39 min ago	18.11 bp	80.2 bp −$80	doesn't fit	doesn't fit	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	−0.5583%	1h	316.49	−2.259%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	324.46	+0.202%	$129K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.72	−0.027%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	323.79	−0.005%	$34K	$676K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	324.67	+0.267%	$95.0M	$480.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	324.60	+0.246%	$26.7M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	324.60	+0.246%	$13.3M	$49.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	324.70	+0.276%	$101.7M	$141.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.80	+0.307%	$18.3M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	324.52	+0.221%	$36.3M	$54.7M	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	323.07	−0.226%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.89	+0.026%	$87K	$792K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.64	−0.051%	$1K	$1.9M	20x	as long as short
HTX TAO-USDTshort	+0.0100%	4h	324.13	+0.100%	$131K	$482K	20x
Phemex TAOUSDT	+0.0100%	4h	324.24	+0.134%	$3.5M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	324.08	+0.084%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0116%	4h	323.86	+0.017%	$58K	$282K	10x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	323.61	−0.060%	$688	$776K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0160% / S +0.0126%	1h	323.69	−0.034%	$449K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0242%	1h	324.20	+0.122%	$5.7M	$20.7M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0250%	4h	323.56	−0.075%	$537K	$964K	10x	as long as short
Bullet TAO-USD	+0.0258%	1h	323.98	+0.054%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0299%	8h	323.90	+0.028%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	324.37	+0.174%	$4.6M	$11.4M	100x	as long as short
Aster TAOUSDT	+0.0370%	4h	324.73	+0.286%	$1.2M	$9.6M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0418%	1h	323.93	+0.039%	$20K	$1.6M	25x	as long as short
Pacifica TAO	+0.0448%	1h	324.76	+0.296%	$384K	$402K	10x	as long as short
Phoenix TAO	+0.0504%	1h	323.20	−0.187%	$338K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	324.11	+0.094%	$101K	$487K	5x	as long as short
Bybit TAOUSDT	+0.0529%	4h	324.75	+0.292%	$71.1M	$143.8M	50x	as long as short
BingX TAO-USDT	+0.0558%	4h	324.68	+0.270%	—	$30.3M	—	as long as short
Nado TAO-PERP	+0.0567%	1h	323.83	+0.008%	$793K	$2.2M	10x	as long as short
ApeX Omni TAOUSDT	+0.0642%	1h	323.21	−0.184%	$47K	$253K	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	323.92	+0.037%	$373	—	20x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	324.10	+0.091%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0824%	1h	324.77	+0.297%	$947K	$2.3M	25x	as long as short
Variational Omni TAO	+0.0845%	4h	323.61	−0.059%	$6.0M	$9.8M	—	as long as short
Lighter TAO	+0.0896%	1h	325.08	+0.395%	$1.6M	$6.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	324.56	+0.233%	$1.5M	$6.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1061%	1h	324.92	+0.344%	$447K	$860K	10x	as long as short
RISEx TAO/USDClong	+0.1159%	1h	323.81	long leg	$466K	$648K	5x
Hyperliquid TAO	+0.1244%	1h	325.09	+0.397%	$102.3M	$99.0M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	326.77	+0.916%	$24K	$2K	12x	as long as short