Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0598%/8h= +65.4% APRpaid last 24h +0.181%

Price spread now: Reya against Bitget+0.285%7-day average — · you sell dearer than you buy

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

Long on Bitget 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 airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Reya is 0.285% dearer against Bitget than usual: you sell high and buy low: +$29 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	Bitget TAOUSDT	319.45	0.0100	pay 0.0050% / 4h	1h 44m	$35.9M	$58.3M	50x
Short	Reya TAORUSDPERP	320.36	0.0698	get 0.0087% / 1h	44m 55s	$368	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bitget. 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 BitgetbpFee ReyabpOrdersPrice spread, now +0.285%Rate

Funding earned: $125.49
Price spread: +0.285% → 0.000%: $28.53
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $136.02
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bitget: 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 Bitget live order book, 4 min ago	1.40 bp	10.5 bp −$11	22.7 bp −$227	49.4 bp −$4,944	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	−0.2101%	1h	320.87	+0.445%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.83	−0.194%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.12	+0.208%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.92	+0.147%	$41K	$695K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.00	+0.172%	$26.5M	$129.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.40	−0.016%	$14.1M	$51.5M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.85	+0.125%	$17.4M	$32.0M	75x	as long as short
Bitget TAOUSDTlong	+0.0100%	4h	319.45	long leg	$35.9M	$58.3M	50x
ApeX Omni TAOUSDT	+0.0100%	1h	320.44	+0.310%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.11	+0.207%	$76K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	320.12	+0.210%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.10	−0.110%	$117K	$588K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.21	+0.238%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	319.78	+0.103%	$1K	$992K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.29	+0.263%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0121% / S +0.0156%	1h	320.13	+0.213%	$433K	—	100x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	320.53	+0.338%	$53K	$293K	10x	as long as short
Binance TAOUSDT	+0.0150%	4h	319.97	+0.164%	$92.7M	$527.1M	75x	as long as short
MEXC TAO_USDT	+0.0152%	4h	319.80	+0.110%	$104.9M	$149.6M	300x	as long as short
edgeX TAOUSDC	+0.0153%	4h	320.18	+0.229%	$42K	$318K	10x	as long as short
Paradex TAO-USD-PERP	+0.0261%	8h	319.42	−0.009%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0306%	4h	319.77	+0.101%	$1.3M	$10.9M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	319.72	+0.085%	—	$34.4M	—	as long as short
Bullet TAO-USD	+0.0390%	1h	320.60	+0.360%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0390%	4h	320.36	+0.285%	$4.7M	$11.1M	100x	as long as short
Bybit TAOUSDT	+0.0400%	4h	319.98	+0.166%	$69.8M	$155.8M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0408%	4h	319.77	+0.101%	$544K	$948K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	319.69	+0.076%	$917K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	319.45	0.000%	$364K	$423K	10x	as long as short
Variational Omni TAO	+0.0538%	4h	319.36	−0.028%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	320.30	+0.266%	$319K	$709K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0629%	1h	320.60	+0.360%	$301K	$908K	10x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	320.06	+0.191%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.27	+0.257%	$103K	$394K	5x	as long as short
Nado TAO-PERP	+0.0642%	1h	320.20	+0.234%	$801K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0663%	1h	320.49	+0.326%	$94.7M	$110.1M	5x	as long as short
Reya TAORUSDPERPshort	+0.0698%	1h	320.36	+0.285%	$368	—	20x
Deribit TAO_USDC-PERPETUAL	+0.0726%	1h	320.42	+0.303%	$14K	$1.9M	25x	as long as short
Lighter TAO	+0.0840%	1h	320.60	+0.361%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.58	+0.354%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	319.77	+0.101%	$462K	$665K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1152%	1h	320.55	+0.344%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+2.755%	$24K	$2K	12x	as long as short