Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0601%/8h= +65.8% APRpaid last 24h +0.196%

Price spread now: RISEx against HTX+0.281%7-day average +0.119% · 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−$108as in the Price arb table

costs, in and out, $10k−$1241.242% of the position

Long on HTX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.544%+$54 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now +0.281%, 7d avg +0.119%

Together, before fees+0.328%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and RISEx is 0.162% dearer against HTX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.119%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TAO-USDT	321.43	0.0100	pay 0.0050% / 4h	2h 57m	$116K	$554K	20x
Short	RISEx TAO/USDC	322.33	0.0701	get 0.0088% / 1h	57m 30s	$445K	$714K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against HTX. 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 HTXbpFee RISExbpOrdersPrice spread, now +0.281%Rate

Funding earned: $126.28
Price spread: +0.281% → +0.119%: $16.17
Slippage, 4 orders: −$106.22
Fee HTX: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $18.23
Costs to cover: 1.242%
Break-even: 6.0 days

Slippage from HTX: live order book, 36 min ago; RISEx: live order book, 36 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 HTX live order book, 36 min ago	16.57 bp	89.7 bp −$90	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 36 min ago	2.70 bp	5.8 bp −$6	32.7 bp −$327	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	−0.0985%	1h	321.65	+0.068%	$171K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	+0.865%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	323.08	+0.513%	$52K	$703K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	323.18	+0.544%	$71.1M	$155.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.00	+0.488%	$26.9M	$131.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.60	+0.053%	$15.4M	$47.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.99	+0.174%	$17.5M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.65	+0.380%	$36.4M	$56.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.94	+0.470%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	321.93	+0.156%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDTlong	+0.0100%	4h	321.43	long leg	$116K	$554K	20x
Phemex TAOUSDT	+0.0100%	4h	321.84	+0.128%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0115%	8h	322.55	+0.348%	$1K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	322.32	+0.278%	$177K	$998	3x	as long as short
Binance TAOUSDT	+0.0156%	4h	322.95	+0.474%	$95.1M	$519.9M	75x	as long as short
BingX TAO-USDT	+0.0158%	4h	322.10	+0.208%	—	$39.0M	—	as long as short
edgeX TAOUSDC	+0.0158%	4h	323.48	+0.637%	$43K	$321K	10x	as long as short
MEXC TAO_USDT	+0.0160%	4h	322.17	+0.230%	$106.6M	$149.0M	300x	as long as short
Paradex TAO-USD-PERP	+0.0224%	8h	322.20	+0.240%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0246%	4h	322.17	+0.230%	$54K	$273K	10x	as long as short
Extended TAO-USD	+0.0288%	1h	322.02	+0.185%	$973K	$2.2M	25x	as long as short
Pacifica TAO	+0.0301%	1h	322.20	+0.239%	$375K	$439K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0304%	4h	323.87	+0.758%	$550K	$826K	10x	as long as short
Aster TAOUSDT	+0.0320%	4h	322.64	+0.377%	$1.3M	$11.2M	50x	as long as short
Arcus TAO-USD	+0.0364%	1h	322.64	+0.376%	$102K	$329K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0369% / S −0.0109%	1h	323.08	+0.513%	$383K	—	100x	as long as short
ApeX Omni TAOUSDT	+0.0392%	1h	323.88	+0.762%	$46K	$256K	50x	as long as short
BloFin TAO-USDT	+0.0398%	4h	323.12	+0.526%	$4.8M	$11.0M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0482%	1h	322.18	+0.234%	$20K	$1.9M	25x	as long as short
Nado TAO-PERP	+0.0515%	1h	322.94	+0.471%	$740K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0522%	4h	323.77	+0.726%	$5.7M	$9.8M	—	as long as short
Bullet TAO-USD	+0.0524%	1h	322.42	+0.308%	$12K	$17K	20x	as long as short
Phoenix TAO	+0.0578%	1h	323.80	+0.737%	$326K	$712K	5x	as long as short
Lighter TAO	+0.0648%	1h	322.22	+0.245%	$1.6M	$6.6M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0674%	1h	322.21	+0.243%	$6.3M	$21.0M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0680%	1h	322.04	+0.190%	$300K	$1.1M	10x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	322.85	+0.442%	$371	—	20x	as long as short
RISEx TAO/USDCshort	+0.0701%	1h	322.33	+0.281%	$445K	$714K	5x
01 Exchange TAOUSD	+0.0776%	1h	322.79	+0.423%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	322.61	+0.367%	$1.1M	$7.5M	50x	as long as short
dYdX TAO-USD	+0.1078%	1h	321.77	+0.106%	$271K	$232K	5x	as long as short
Hyperliquid TAO	+0.1190%	1h	322.44	+0.314%	$97.4M	$110.0M	5x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	327.96	+2.032%	$24K	$2K	12x	as long as short