Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0394%/8hnext payment −$0.49 per $10,000 · paid last 24h −0.122%

Price spread now: RISEx against Coinbase International−0.941%7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Coinbase International Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 3 days (all we have)+0.816%+$82 · spread now −0.941%, 7d avg −0.157%

Together, before fees+0.787%+$79 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and RISEx is 0.784% cheaper against Coinbase International than usual: you would sell low and buy high (−$78 if the spread goes back to its 7-day average of −0.157%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.029% in total (about -3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.49 per $10,000. 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	Coinbase International TAO-PERP-INTX	295.09	0.0872	pay 0.0109% / 1h	23m 32s	$1.5M	$4.2M	50x
Short	RISEx TAO/USDC	292.31	0.0478	get 0.0060% / 1h	23m 32s	$336K	$451K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Coinbase International. 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 Coinbase InternationalbpFee RISExbpOrdersPrice spread, now −0.941%Rate

Funding earned: −$82.83
Price spread: −0.941% → −0.157%: −$78.37
Slippage, 4 orders: −$22.67
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$199.87
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; RISEx: live order book, 9 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 Coinbase International live order book, 5 min ago	6.95 bp	14.6 bp −$15	19.3 bp −$193	doesn't fit	doesn't fit
Sell RISEx live order book, 9 min ago	2.57 bp	5.7 bp −$6	42.9 bp −$429	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	−0.0948%	1h	288.22	−2.328%	$190K	$44K	10x	as long as short
Kraken Futures PF_TAOUSD	−0.0159%	1h	294.14	−0.321%	$5.4M	$13.8M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	292.40	−0.912%	$75K	$35K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	293.65	−0.489%	$28K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	292.20	−0.979%	$33K	$476K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	292.46	−0.891%	$1.7M	$4.9M	50x	as long as short
Pacifica TAO	+0.0100%	1h	292.39	−0.916%	$339K	$373K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	292.36	−0.925%	$79.4M	$333.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	292.37	−0.922%	$51.3M	$87.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	292.40	−0.912%	$23.3M	$71.3M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus TAO-USD	+0.0100%	1h	292.56	−0.857%	$128K	$579K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	292.30	−0.945%	$11.6M	$44.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	292.39	−0.915%	$104.6M	$105.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	292.35	−0.929%	$19.7M	$21.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	292.01	−1.044%	$33.1M	$36.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	292.36	−0.925%	—	$29.7M	—	as long as short
Variational Omni TAO	+0.0100%	4h	294.61	−0.161%	$3.2M	$5.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	293.87	−0.414%	$38K	$272K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	294.38	−0.241%	$516K	$871K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	293.54	−0.525%	$44K	$266K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	292.40	−0.912%	$83K	$506K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	293.73	−0.461%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	293.69	−0.474%	$54K	$235K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	293.51	−0.535%	$2K	$1.6M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	292.73	−0.800%	$122K	$311K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	293.70	−0.471%	$3.1M	$7.5M	50x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	292.37	−0.922%	$3K	$339K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	293.92	−0.395%	$161K	$998	3x	as long as short
Paradex TAO-USD-PERP	+0.0105%	8h	292.24	−0.966%	$14K	$376	10x	as long as short
Nado TAO-PERP	+0.0151%	1h	293.71	−0.467%	$1.0M	$1.2M	10x	as long as short
Extended TAO-USD	+0.0160%	1h	292.36	−0.924%	$809K	$1.4M	25x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0196%	1h	293.78	−0.442%	$23K	$1.0M	25x	as long as short
Phoenix TAO	+0.0336%	1h	294.20	−0.302%	$312K	$158K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	293.65	−0.488%	$4.0M	$7.2M	100x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	292.46	−0.891%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0440%	1h	292.60	−0.845%	$1.3M	$2.4M	5x	as long as short
RISEx TAO/USDCshort	+0.0478%	1h	292.31	−0.941%	$336K	$451K	5x
GMX TAO/USD [WBTC.b-USDC]	L +0.0494% / S −0.0204%	1h	293.67	−0.483%	$454K	—	100x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	292.13	−1.004%	$336	—	20x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0872%	1h	295.09	long leg	$1.5M	$4.2M	50x
Backpack TAO_USDC_PERP	+0.0884%	1h	294.13	−0.325%	$408K	$497K	10x	as long as short
Hyperliquid TAO	+0.1297%	1h	293.04	−0.695%	$83.8M	$55.2M	5x	as long as short
Injective TAO/USDC PERP	+0.2947%	1h	291.06	−1.366%	$21K	$39K	12x	as long as short