Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0496%/8h= +54.3% APRpaid last 24h +0.144%

Price spread now: Reya against Aster+0.096%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Reya is 0.096% dearer against Aster than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	317.22	0.0199	pay 0.0100% / 4h	3h 04m	$1.3M	$8.8M	50x
Short	Reya TAORUSDPERP	317.52	0.0696	get 0.0087% / 1h	4m 25s	$365	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. 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 AsterbpFee ReyabpOrdersPrice spread, now +0.096%Rate

Funding earned: $104.18
Price spread: +0.096% → 0.000%: $9.55
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $99.73
Costs to cover: 0.140%
Break-even: 0.3 days

Slippage unknown: Aster: live order book, 4 min ago; Reya: no order-book sample. 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 Aster live order book, 4 min ago	2.21 bp	9.3 bp −$9	20.6 bp −$206	157.6 bp −$15.8K	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.340%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.54	−0.214%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	316.94	−0.090%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.72	+0.158%	$44K	$603K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.22	0.000%	$90.9M	$451.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.30	+0.025%	$25.9M	$109.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.20	−0.006%	$12.9M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.52	+0.095%	$100.5M	$136.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.59	+0.117%	$17.9M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.28	+0.019%	$35.3M	$51.6M	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	−0.052%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.81	−0.444%	$523K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.24	+0.006%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.45	−0.243%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.26	−0.303%	$127K	$422K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.61	−0.193%	$174K	$998	3x	as long as short
Bullet TAO-USD	+0.0105%	1h	317.35	+0.041%	$12K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0122%	8h	317.74	+0.164%	$1K	$644K	5x	as long as short
ApeX Omni TAOUSDT	+0.0154%	1h	316.14	−0.340%	$48K	$267K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	316.91	−0.098%	$450K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	317.17	−0.016%	$375K	$376K	10x	as long as short
Phemex TAOUSDT	+0.0191%	4h	316.40	−0.259%	$3.4M	$7.8M	50x	as long as short
Aster TAOUSDTlong	+0.0199%	4h	317.22	long leg	$1.3M	$8.8M	50x
Arcus TAO-USD	+0.0201%	1h	317.58	+0.113%	$84K	$550K	5x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	316.75	−0.147%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0267%	1h	317.77	+0.173%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0287%	1h	316.21	−0.318%	$17K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.47	−0.236%	$4.4M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0485%	1h	316.20	−0.321%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.00	−0.069%	$332K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.57	+0.110%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.46	+1.021%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	−0.140%	$5.5M	$8.7M	—	as long as short
Reya TAORUSDPERPshort	+0.0696%	1h	317.52	+0.096%	$365	—	20x
BingX TAO-USDT	+0.0702%	4h	317.17	−0.016%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0742%	4h	317.33	+0.035%	$65.3M	$133.6M	50x	as long as short
Nado TAO-PERP	+0.0746%	1h	317.67	+0.142%	$790K	$2.1M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0797%	1h	316.19	−0.325%	$319K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.25	+0.009%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1104%	1h	317.24	+0.006%	$884K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	317.39	+0.053%	$421K	$593K	5x	as long as short
Lighter TAO	+0.1424%	1h	317.64	+0.133%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1760%	1h	317.88	+0.208%	$101.7M	$91.6M	5x	as long as short