Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0423%/8h= +46.3% APRpaid last 24h +0.138%

Price spread now: RISEx against Bybit+0.146%7-day average −0.005% · 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−$20as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Bybit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.444%+$44 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.146%, 7d avg −0.005%

Together, before fees+0.410%+$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and RISEx is 0.151% dearer against Bybit than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	317.78	0.0736	pay 0.0368% / 4h	1h 52m	$67.5M	$138.6M	50x
Short	RISEx TAO/USDC	318.24	0.1159	get 0.0145% / 1h	52m 22s	$450K	$626K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bybit. 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 BybitbpFee RISExbpOrdersPrice spread, now +0.146%Rate

Funding earned: $88.79
Price spread: +0.146% → −0.005%: $15.11
Slippage, 4 orders: −$17.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee RISEx: 3 bp × 2 orders: −$6
Net: $69.28
Costs to cover: 0.346%
Break-even: 1.5 days

Slippage from Bybit: live order book, 2 min ago; RISEx: live order book, 11 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 Bybit live order book, 2 min ago	0.16 bp	12.4 bp −$12	20.8 bp −$208	45.4 bp −$4,538	doesn't fit
Sell RISEx live order book, 11 min ago	3.45 bp	6.5 bp −$7	doesn't fit	doesn't fit	doesn't fit

TAO on 42 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	−0.2257%	1h	317.17	−0.192%	$168K	$40K	10x	as long as short
ApeX Omni TAOUSDT	−0.0750%	1h	314.06	−1.171%	$47K	$253K	50x	as long as short
dYdX TAO-USD	0.0000%	1h	318.54	+0.240%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.42	−0.112%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.02	+0.076%	$46K	$645K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.72	−0.019%	$91.9M	$467.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.60	−0.057%	$26.3M	$115.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.70	−0.025%	$13.0M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.88	+0.031%	$105.0M	$137.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.00	+0.069%	$18.2M	$30.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	317.51	−0.085%	$35.4M	$53.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	317.37	−0.130%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.72	−0.019%	$78K	$733K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.63	−0.047%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.88	+0.031%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.03	+0.079%	$130K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.23	+0.142%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.21	+0.135%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	318.21	+0.135%	$1K	$736K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0165% / S +0.0104%	1h	317.76	−0.007%	$431K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0190%	4h	316.25	−0.481%	$526K	$946K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0247%	1h	318.25	+0.148%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0307%	4h	318.34	+0.177%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0344%	1h	317.88	+0.031%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0352%	8h	318.69	+0.287%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0448%	1h	318.89	+0.348%	$377K	$393K	10x	as long as short
Phoenix TAO	+0.0504%	1h	317.80	+0.006%	$333K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	318.75	+0.305%	$100K	$489K	5x	as long as short
Nado TAO-PERP	+0.0519%	1h	317.92	+0.045%	$766K	$2.1M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0543%	1h	318.19	+0.129%	$14K	$1.6M	25x	as long as short
BingX TAO-USDT	+0.0686%	4h	317.67	−0.035%	—	$30.3M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.68	−0.031%	$365	—	20x	as long as short
Bybit TAOUSDTlong	+0.0736%	4h	317.78	long leg	$67.5M	$138.6M	50x
01 Exchange TAOUSD	+0.0776%	1h	318.77	+0.312%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0865%	4h	319.02	+0.391%	$6.0M	$9.6M	—	as long as short
Backpack TAO_USDC_PERP	+0.0890%	1h	318.72	+0.296%	$322K	$802K	10x	as long as short
Extended TAO-USD	+0.0920%	1h	318.41	+0.199%	$900K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.28	+0.472%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDCshort	+0.1159%	1h	318.24	+0.146%	$450K	$626K	5x
Lighter TAO	+0.1160%	1h	319.13	+0.426%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1454%	1h	318.14	+0.113%	$100.6M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+0.994%	$23K	$2K	12x	as long as short