Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0526%/8h= −57.6% APRpaid last 24h −0.178%

Price spread now: edgeX against Reya−0.510%55s7-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 edgeX

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 · edgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and edgeX is 0.510% cheaper against Reya than usual: you would sell low and buy high (−$51 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	322.16	0.0698	pay 0.0087% / 1h	25m 36s	$370	—	20x
Short	edgeX TAOUSDC	320.52	0.0172	get 0.0086% / 4h	1h 25m	$42K	$317K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.510%Rate

Funding earned: −$110.44
Price spread: −0.510% → 0.000%: −$51.03
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$176.47
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; edgeX: live order book, 17 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 edgeX live order book, 17 min ago	4.70 bp	9.3 bp −$9	26.3 bp −$263	doesn't fit	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	−0.1995%	1h	319.47	−0.835%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	321.65	−0.160%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	321.77	−0.123%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.73	+0.177%	$43K	$705K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.00	+0.260%	$26.9M	$131.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.30	+0.043%	$14.4M	$52.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.33	+0.052%	$18.0M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.33	+0.052%	$36.2M	$58.2M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.82	−0.727%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.18	+0.006%	$89K	$1.2M	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	322.13	−0.010%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	321.65	−0.159%	$117K	$597K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	322.17	+0.003%	$2K	$1.0M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0118% / S +0.0150%	1h	320.83	−0.412%	$429K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	322.20	+0.012%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	322.24	+0.025%	$53K	$292K	10x	as long as short
MEXC TAO_USDT	+0.0170%	4h	322.55	+0.121%	$107.6M	$150.4M	300x	as long as short
edgeX TAOUSDCshort	+0.0172%	4h	320.52	−0.510%	$42K	$317K	10x
Binance TAOUSDT	+0.0182%	4h	322.69	+0.163%	$93.4M	$529.4M	75x	as long as short
Phemex TAOUSDT	+0.0262%	4h	322.39	+0.071%	$3.3M	$8.1M	50x	as long as short
Paradex TAO-USD-PERP	+0.0283%	8h	322.64	+0.149%	$15K	$1K	10x	as long as short
BingX TAO-USDT	+0.0324%	4h	322.63	+0.146%	—	$34.6M	—	as long as short
Aster TAOUSDT	+0.0347%	4h	322.46	+0.092%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0350%	4h	323.25	+0.338%	$70.9M	$156.3M	50x	as long as short
Bullet TAO-USD	+0.0399%	1h	322.20	+0.013%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0406%	4h	321.35	−0.253%	$547K	$940K	10x	as long as short
BloFin TAO-USDT	+0.0411%	4h	321.16	−0.311%	$4.7M	$11.1M	100x	as long as short
Extended TAO-USD	+0.0464%	1h	322.47	+0.094%	$918K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0518%	1h	322.87	+0.219%	$804K	$2.0M	10x	as long as short
Pacifica TAO	+0.0525%	1h	322.54	+0.116%	$367K	$423K	10x	as long as short
Variational Omni TAO	+0.0538%	4h	322.25	+0.027%	$5.7M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	319.40	−0.857%	$318K	$709K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	322.81	+0.201%	$104K	$389K	5x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	323.30	+0.354%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0658%	1h	322.51	+0.108%	$95.3M	$110.5M	5x	as long as short
Reya TAORUSDPERPlong	+0.0698%	1h	322.16	long leg	$370	—	20x
Backpack TAO_USDC_PERP	+0.0733%	1h	322.76	+0.186%	$301K	$905K	10x	as long as short
Lighter TAO	+0.0760%	1h	322.62	+0.143%	$1.6M	$6.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.86	+0.217%	$1.5M	$6.9M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0973%	1h	322.37	+0.065%	$15K	$1.9M	25x	as long as short
RISEx TAO/USDC	+0.1077%	1h	322.13	−0.008%	$461K	$666K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1145%	1h	322.50	+0.104%	$6.0M	$21.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.44	+0.397%	$24K	$2K	12x	as long as short