Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1332%/8h= +145.9% APRpaid last 24h +0.081%

Price spread now: Lighter against SunX+0.249%7-day average +0.074% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 3 days (all we have)−0.259%−$26 · spread now +0.249%, 7d avg +0.074%

Together, before fees−0.129%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and Lighter is 0.175% dearer against SunX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.074%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.131% in total (about 6.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	313.88	0.0100	pay 0.0050% / 4h	3h 02m	$2K	$1.9M	20x
Short	Lighter TAO	314.66	0.1432	get 0.0179% / 1h	2m 02s	$1.6M	$6.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.249%Rate

Funding earned: $279.72
Price spread: +0.249% → +0.074%: $17.53
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $289.25
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 4 min ago; Lighter: 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 SunX live order book, 4 min ago	500.29 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	2.85 bp	8.3 bp −$8	26.7 bp −$267	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	−0.1228%	1h	316.14	+0.720%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.65	+0.244%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	314.10	+0.069%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.66	+0.249%	$44K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.23	−0.207%	$89.8M	$452.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	−0.249%	$25.5M	$108.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.30	−0.185%	$12.7M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.37	−0.162%	$100.5M	$137.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.00	−0.280%	$18.2M	$29.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.94	−0.299%	$34.8M	$51.7M	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	317.06	+1.012%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.35	+0.787%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.19	+0.099%	$56K	$316K	10x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	313.88	long leg	$2K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	314.03	+0.048%	$125K	$422K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.55	+0.212%	$173K	$998	3x	as long as short
Bullet TAO-USD	+0.0109%	1h	314.49	+0.194%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0113%	1h	314.05	+0.053%	$16K	$1.5M	25x	as long as short
ApeX Omni TAOUSDT	+0.0117%	1h	316.47	+0.825%	$48K	$267K	50x	as long as short
Katana Perps TAO-USD	+0.0120%	8h	314.92	+0.331%	$644	$648K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	314.07	+0.062%	$445K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	314.74	+0.274%	$373K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	314.57	+0.220%	$83K	$550K	5x	as long as short
Aster TAOUSDT	+0.0204%	4h	313.83	−0.017%	$1.3M	$8.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0237%	8h	314.44	+0.177%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0260%	1h	314.64	+0.242%	$92K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.26	+0.121%	$4.4M	$10.7M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0488%	1h	314.08	+0.062%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.00	+0.994%	$332K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	314.68	+0.255%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.46	+2.096%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	+0.923%	$5.5M	$8.7M	—	as long as short
Phemex TAOUSDT	+0.0593%	4h	314.20	+0.102%	$3.4M	$7.8M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.60	+0.230%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0704%	4h	313.63	−0.080%	—	$30.7M	—	as long as short
Nado TAO-PERP	+0.0746%	1h	314.59	+0.227%	$778K	$2.1M	10x	as long as short
Bybit TAOUSDT	+0.0752%	4h	313.53	−0.112%	$64.5M	$134.5M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0797%	1h	313.64	−0.076%	$317K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	314.86	+0.312%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1088%	1h	313.29	−0.187%	$874K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	314.41	+0.169%	$417K	$602K	5x	as long as short
Lighter TAOshort	+0.1432%	1h	314.66	+0.249%	$1.6M	$6.1M	5x
Hyperliquid TAO	+0.1725%	1h	313.99	+0.035%	$100.4M	$91.7M	5x	as long as short