Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0599%/8h= −65.6% APRpaid last 24h −0.178%

Price spread now: KuCoin against Reya−0.020%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 KuCoin

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 −$18 a day on $10k at the current rate, and KuCoin is 0.020% cheaper against Reya than usual: you would sell low and buy high (−$2 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	319.32	0.0699	pay 0.0087% / 1h	0m 01s	$367	—	20x
Short	KuCoin TAOUSDTM	319.26	0.0100	get 0.0050% / 4h	2h 00m	$17.7M	$31.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$125.79
Price spread: −0.020% → 0.000%: −$2.01
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$145.81
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	1.41 bp	12.8 bp −$13	20.0 bp −$200	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 exchanges

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	318.40	−0.290%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.57	+0.077%	$51K	$631K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	319.61	+0.089%	$70.1M	$155.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.40	+0.024%	$27.0M	$129.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.10	−0.070%	$15.8M	$49.6M	50x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	319.26	−0.020%	$17.7M	$31.4M	75x
Bitget TAOUSDT	+0.0100%	4h	319.24	−0.026%	$36.2M	$56.2M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.33	+0.002%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.10	−0.070%	$82K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.18	−0.045%	$2K	$1.8M	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	318.79	−0.167%	$113K	$566K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.27	−0.017%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0105%	8h	319.34	+0.005%	$1K	$1.3M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.12	−0.062%	$175K	$998	3x	as long as short
edgeX TAOUSDC	+0.0140%	4h	319.17	−0.048%	$42K	$324K	10x	as long as short
BingX TAO-USDT	+0.0145%	4h	319.41	+0.027%	—	$38.0M	—	as long as short
MEXC TAO_USDT	+0.0146%	4h	319.42	+0.030%	$112.9M	$152.7M	300x	as long as short
Binance TAOUSDT	+0.0147%	4h	319.58	+0.080%	$93.9M	$512.9M	75x	as long as short
Paradex TAO-USD-PERP	+0.0215%	8h	319.20	−0.038%	$14K	$876	10x	as long as short
Extended TAO-USD	+0.0240%	1h	319.34	+0.004%	$961K	$2.1M	25x	as long as short
Orderly PERP_TAO_USDC	+0.0257%	4h	319.41	+0.027%	$53K	$262K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0290%	4h	318.96	−0.115%	$544K	$824K	10x	as long as short
Pacifica TAO	+0.0301%	1h	319.21	−0.036%	$373K	$445K	10x	as long as short
Aster TAOUSDT	+0.0318%	4h	319.48	+0.049%	$1.3M	$11.2M	50x	as long as short
Lighter TAO	+0.0352%	1h	319.43	+0.034%	$1.6M	$6.7M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0362% / S −0.0107%	1h	319.16	−0.052%	$375K	—	100x	as long as short
Arcus TAO-USD	+0.0364%	1h	319.75	+0.133%	$101K	$311K	5x	as long as short
BloFin TAO-USDT	+0.0387%	4h	318.71	−0.192%	$4.9M	$10.5M	100x	as long as short
Bullet TAO-USD	+0.0402%	1h	319.61	+0.088%	$13K	$17K	20x	as long as short
Nado TAO-PERP	+0.0413%	1h	319.59	+0.082%	$706K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0442%	4h	318.65	−0.211%	$5.7M	$9.8M	—	as long as short
dYdX TAO-USD	+0.0507%	1h	318.69	−0.200%	$269K	$233K	5x	as long as short
Phoenix TAO	+0.0567%	1h	318.90	−0.133%	$321K	$712K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0637%	1h	319.40	+0.023%	$15K	$1.9M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0680%	1h	319.52	+0.061%	$6.3M	$19.5M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0688%	1h	319.54	+0.068%	$300K	$1.1M	10x	as long as short
Reya TAORUSDPERPlong	+0.0699%	1h	319.32	long leg	$367	—	20x
Bulk TAO-USD	+0.0699%	1h	317.67	−0.518%	$169K	$0	10x	as long as short
RISEx TAO/USDC	+0.0701%	1h	318.61	−0.224%	$441K	$682K	5x	as long as short
Hyperliquid TAO	+0.0725%	1h	319.52	+0.061%	$96.3M	$107.3M	5x	as long as short
01 Exchange TAOUSD	+0.0784%	1h	319.90	+0.180%	$3K	$2K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	319.64	+0.099%	$1.1M	$7.7M	50x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	322.67	+1.048%	$23K	$2K	12x	as long as short