Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0547%/8h= −59.8% APRpaid last 24h −0.169%

Price spread now: BingX against Reya−0.073%7-day average — · you buy dearer than you sell

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

Long on Reya Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$16 a day on $10k at the current rate, and BingX is 0.073% cheaper against Reya than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	318.86	0.0699	pay 0.0087% / 1h	18m 53s	$367	—	20x
Short	BingX TAO-USDT	318.63	0.0152	get 0.0076% / 4h	3h 18m	—	$38.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$114.77
Price spread: −0.073% → 0.000%: −$7.28
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$138.05
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BingX: 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 BingX live order book, 5 min ago	2.04 bp	7.8 bp −$8	11.8 bp −$118	24.1 bp −$2,407	59.2 bp −$29.6K

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	318.73	−0.040%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.11	+0.078%	$49K	$697K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	318.58	−0.088%	$69.6M	$154.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.40	−0.145%	$26.5M	$130.3M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.14	−1.167%	$167K	$0	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.30	−0.176%	$15.1M	$50.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.89	+0.009%	$17.6M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.20	−0.208%	$35.9M	$57.0M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.70	−0.051%	$88K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.74	−0.038%	$1K	$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-USDT	+0.0100%	4h	319.08	+0.068%	$116K	$573K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.87	+0.002%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	318.89	+0.010%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0127%	8h	318.97	+0.034%	$653	$1.2M	5x	as long as short
BingX TAO-USDTshort	+0.0152%	4h	318.63	−0.073%	—	$38.9M	—
edgeX TAOUSDC	+0.0153%	4h	319.28	+0.130%	$42K	$321K	10x	as long as short
MEXC TAO_USDT	+0.0164%	4h	318.41	−0.142%	$110.9M	$153.7M	300x	as long as short
Binance TAOUSDT	+0.0166%	4h	318.48	−0.120%	$92.7M	$522.1M	75x	as long as short
Orderly PERP_TAO_USDC	+0.0234%	4h	319.06	+0.062%	$54K	$276K	10x	as long as short
Paradex TAO-USD-PERP	+0.0243%	8h	319.29	+0.134%	$14K	$876	10x	as long as short
dYdX TAO-USD	+0.0277%	1h	319.01	+0.046%	$128K	$88K	5x	as long as short
Bullet TAO-USD	+0.0292%	1h	319.04	+0.055%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0293%	1h	319.06	+0.062%	$45K	$254K	50x	as long as short
Aster TAOUSDT	+0.0335%	4h	318.73	−0.043%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	319.48	+0.195%	$363K	$437K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0367% / S −0.0109%	1h	319.14	+0.086%	$378K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0370%	4h	319.29	+0.135%	$541K	$838K	10x	as long as short
Arcus TAO-USD	+0.0404%	1h	319.44	+0.181%	$101K	$351K	5x	as long as short
BloFin TAO-USDT	+0.0406%	4h	318.98	+0.037%	$4.8M	$10.9M	100x	as long as short
Extended TAO-USD	+0.0416%	1h	318.42	−0.138%	$893K	$2.3M	25x	as long as short
Nado TAO-PERP	+0.0450%	1h	319.00	+0.042%	$773K	$1.9M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0491%	1h	319.01	+0.047%	$9K	$1.8M	25x	as long as short
Phoenix TAO	+0.0578%	1h	319.20	+0.106%	$321K	$714K	5x	as long as short
Hyperliquid TAO	+0.0586%	1h	318.79	−0.023%	$94.6M	$109.3M	5x	as long as short
Variational Omni TAO	+0.0616%	4h	319.30	+0.137%	$5.6M	$10.0M	—	as long as short
01 Exchange TAOUSD	+0.0640%	1h	319.71	+0.266%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0680%	1h	319.29	+0.135%	$1.6M	$6.7M	5x	as long as short
Reya TAORUSDPERPlong	+0.0699%	1h	318.86	long leg	$367	—	20x
Backpack TAO_USDC_PERP	+0.0745%	1h	319.06	+0.062%	$315K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0780%	1h	319.28	+0.131%	$6.1M	$21.2M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	318.98	+0.036%	$453K	$706K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	319.66	+0.250%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	317.77	−0.342%	$23K	$2K	12x	as long as short