Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0598%/8h= +65.5% APRpaid last 24h +0.176%

Price spread now: Reya against Katana Perps+0.185%7-day average — · you sell dearer than you buy

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

Long on Katana Perps 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 0.185% dearer against Katana Perps than usual: you sell high and buy low: +$19 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	Katana Perps TAO-USD	310.76	0.0098	pay 0.0098% / 8h	3h 40m	$2K	$818K	5x
Short	Reya TAORUSDPERP	311.34	0.0697	get 0.0087% / 1h	40m 41s	$358	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Katana Perps. 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 Katana PerpsbpFee ReyabpOrdersPrice spread, now +0.185%Rate

Funding earned: $125.68
Price spread: +0.185% → 0.000%: $18.54
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Reya: 3 bp × 2 orders: −$6
Net: $134.42
Costs to cover: 0.098%
Break-even: from the start

Slippage unknown: Katana Perps: no order-book sample; 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Katana Perps and 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
Kraken Futures PF_TAOUSD	−0.0349%	1h	311.35	+0.189%	$5.5M	$20.7M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	311.14	+0.124%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.02	+0.082%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.25	+0.158%	$46K	$656K	20x	as long as short
Katana Perps TAO-USDlong	+0.0098%	8h	310.76	long leg	$2K	$818K	5x
Pacifica TAO	+0.0100%	1h	311.23	+0.151%	$355K	$413K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.17	+0.132%	$89.3M	$499.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.19	+0.138%	$66.9M	$150.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.10	+0.109%	$25.9M	$120.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.10	+0.109%	$13.0M	$49.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	311.10	+0.109%	$101.3M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.07	+0.100%	$17.7M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.84	+0.026%	$34.8M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.10	+0.109%	—	$33.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.57	+0.261%	$41K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.95	+0.382%	$529K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.53	+0.248%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	310.97	+0.068%	$81K	$889K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.48	+0.232%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.12	+0.116%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.77	+0.003%	$108K	$538K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.45	+0.223%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0107%	4h	311.36	+0.193%	$1.2M	$10.4M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0114%	4h	311.22	+0.148%	$52K	$270K	10x	as long as short
Bulk TAO-USD	+0.0125%	1h	311.89	+0.364%	$166K	$333	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0140% / S +0.0132%	1h	311.05	+0.093%	$413K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0147%	8h	311.00	+0.076%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0208%	1h	311.00	+0.078%	$908K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.33	+0.183%	$101K	$394K	5x	as long as short
Hyperliquid TAO	+0.0268%	1h	311.32	+0.180%	$91.3M	$107.4M	5x	as long as short
Nado TAO-PERP	+0.0284%	1h	311.25	+0.158%	$790K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0303%	4h	311.43	+0.216%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.38	+0.200%	$4.5M	$10.8M	100x	as long as short
01 Exchange TAOUSD	+0.0432%	1h	311.37	+0.196%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0432%	1h	311.43	+0.216%	$309K	$906K	10x	as long as short
Phoenix TAO	+0.0457%	1h	312.50	+0.560%	$311K	$711K	5x	as long as short
Lighter TAO	+0.0472%	1h	311.36	+0.191%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0630%	1h	311.34	+0.188%	$20K	$1.8M	25x	as long as short
Phemex TAOUSDT	+0.0696%	4h	311.11	+0.113%	$3.2M	$8.0M	50x	as long as short
Reya TAORUSDPERPshort	+0.0697%	1h	311.34	+0.185%	$358	—	20x
RISEx TAO/USDC	+0.0816%	1h	311.07	+0.099%	$439K	$659K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	311.87	+0.357%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+2.130%	$23K	$2K	12x	as long as short