Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0389%/8h= −42.6% APRpaid last 24h −0.144%

Price spread now: Aster against Reya+0.096%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Aster

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 · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.096% dearer against Reya than usual: you sell high and buy low (spread +0.096% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	321.03	0.0698	pay 0.0087% / 1h	53m 57s	$369	—	20x
Short	Aster TAOUSDT	321.34	0.0308	get 0.0154% / 4h	1h 53m	$1.3M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$81.7
Price spread: +0.096% → 0.000%: $9.62
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$86.08
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 5 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	1.85 bp	8.3 bp −$8	27.4 bp −$274	117.1 bp −$11.7K	doesn't fit

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	−0.1440%	1h	322.10	+0.331%	$171K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	321.24	+0.064%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.85	−0.057%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	321.17	+0.043%	$40K	$692K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	321.10	+0.021%	$26.6M	$129.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.00	−0.010%	$14.2M	$51.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.10	+0.021%	$17.6M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.05	+0.006%	$36.2M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	324.34	+1.031%	$47K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.95	−0.025%	$79K	$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	320.95	−0.025%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	321.09	+0.018%	$118K	$584K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	321.09	+0.018%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.88	−0.047%	$728	$969K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	321.16	+0.040%	$53K	$292K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	321.23	+0.063%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0123% / S +0.0154%	1h	320.92	−0.034%	$434K	—	100x	as long as short
Binance TAOUSDT	+0.0148%	4h	321.44	+0.128%	$93.8M	$523.6M	75x	as long as short
MEXC TAO_USDT	+0.0154%	4h	321.39	+0.112%	$105.2M	$149.0M	300x	as long as short
edgeX TAOUSDC	+0.0156%	4h	324.58	+1.107%	$43K	$315K	10x	as long as short
Paradex TAO-USD-PERP	+0.0269%	8h	321.59	+0.173%	$15K	$1K	10x	as long as short
Aster TAOUSDTshort	+0.0308%	4h	321.34	+0.096%	$1.3M	$10.8M	50x
Bybit TAOUSDT	+0.0366%	4h	321.57	+0.168%	$70.2M	$155.5M	50x	as long as short
Bullet TAO-USD	+0.0378%	1h	321.32	+0.090%	$12K	$17K	20x	as long as short
BingX TAO-USDT	+0.0382%	4h	321.30	+0.084%	—	$34.3M	—	as long as short
BloFin TAO-USDT	+0.0394%	4h	321.90	+0.271%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0460%	4h	323.74	+0.842%	$552K	$937K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	321.20	+0.051%	$919K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0506%	4h	323.50	+0.769%	$5.7M	$10.1M	—	as long as short
Phoenix TAO	+0.0513%	1h	324.40	+1.049%	$323K	$709K	5x	as long as short
Pacifica TAO	+0.0525%	1h	321.54	+0.157%	$366K	$422K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0552%	1h	321.29	+0.082%	$15K	$1.9M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0578%	1h	321.38	+0.109%	$319K	$899K	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	321.75	+0.224%	$104K	$394K	5x	as long as short
Hyperliquid TAO	+0.0649%	1h	321.56	+0.165%	$95.1M	$109.8M	5x	as long as short
Nado TAO-PERP	+0.0650%	1h	321.26	+0.070%	$803K	$2.2M	10x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	321.25	+0.068%	$3K	$4K	5x	as long as short
Reya TAORUSDPERPlong	+0.0698%	1h	321.03	long leg	$369	—	20x
Lighter TAO	+0.0880%	1h	321.63	+0.187%	$1.5M	$6.6M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.17	+0.355%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	321.20	+0.053%	$463K	$664K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1148%	1h	321.42	+0.120%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+2.249%	$24K	$2K	12x	as long as short