Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0598%/8h= −65.4% APRpaid last 24h −0.178%

Price spread now: OKX against Reya−0.069%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 OKX

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 against this trade now: funding costs −$18 a day on $10k at the current rate, and OKX is 0.069% 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	319.82	0.0698	pay 0.0087% / 1h	40m 12s	$368	—	20x
Short	OKX TAO-USDT-SWAP	319.60	0.0100	get 0.0100% / 8h	1h 40m	$26.5M	$129.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$125.5
Price spread: −0.069% → 0.000%: −$6.92
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$148.42
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	1.56 bp	8.1 bp −$8	17.1 bp −$171	64.0 bp −$6,403	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	−0.2019%	1h	319.65	−0.053%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.66	−0.050%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.54	−0.089%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.22	+0.125%	$41K	$696K	20x	as long as short
OKX TAO-USDT-SWAPshort	+0.0100%	8h	319.60	−0.069%	$26.5M	$129.2M	50x
Gate TAO_USDT	+0.0100%	4h	319.60	−0.069%	$14.2M	$51.6M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.38	−0.138%	$17.8M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.36	−0.144%	$35.8M	$58.3M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.81	−0.004%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.00	+0.056%	$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	319.33	−0.154%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.46	−0.113%	$118K	$588K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.04	+0.068%	$726	$1.0M	5x	as long as short
Phemex TAOUSDT	+0.0117%	4h	319.86	+0.012%	$3.3M	$8.1M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	319.66	−0.050%	$53K	$292K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.73	−0.027%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0120% / S +0.0157%	1h	319.48	−0.106%	$432K	—	100x	as long as short
edgeX TAOUSDC	+0.0152%	4h	320.03	+0.067%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0156%	4h	319.49	−0.104%	$104.9M	$149.7M	300x	as long as short
Binance TAOUSDT	+0.0158%	4h	319.68	−0.044%	$92.5M	$527.3M	75x	as long as short
Paradex TAO-USD-PERP	+0.0262%	8h	320.06	+0.076%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0314%	4h	319.78	−0.012%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0380%	4h	319.70	−0.038%	$69.8M	$155.9M	50x	as long as short
Bullet TAO-USD	+0.0389%	1h	319.84	+0.007%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0398%	4h	319.77	−0.016%	$4.7M	$11.1M	100x	as long as short
BingX TAO-USDT	+0.0398%	4h	319.84	+0.006%	—	$34.5M	—	as long as short
GRVT TAO_USDT_Perp	+0.0408%	4h	319.70	−0.039%	$544K	$940K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	319.59	−0.073%	$917K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	320.13	+0.097%	$365K	$423K	10x	as long as short
Variational Omni TAO	+0.0535%	4h	319.70	−0.038%	$5.6M	$10.2M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0540%	1h	319.62	−0.062%	$14K	$1.9M	25x	as long as short
Phoenix TAO	+0.0567%	1h	320.30	+0.150%	$319K	$709K	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	320.41	+0.184%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.45	+0.197%	$103K	$394K	5x	as long as short
Nado TAO-PERP	+0.0646%	1h	320.14	+0.100%	$802K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0664%	1h	320.17	+0.109%	$94.6M	$110.2M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0673%	1h	319.71	−0.035%	$300K	$904K	10x	as long as short
Reya TAORUSDPERPlong	+0.0698%	1h	319.82	long leg	$368	—	20x
Lighter TAO	+0.0864%	1h	319.89	+0.021%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.89	+0.334%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	320.06	+0.075%	$462K	$663K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1154%	1h	319.80	−0.007%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.63	+1.191%	$24K	$2K	12x	as long as short