Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0559%/8h= −61.3% APRpaid last 24h −0.177%

Price spread now: Orderly against Reya−0.009%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 Orderly

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$17 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	318.49	0.0698	pay 0.0087% / 1h	51m 38s	$366	—	20x
Short	Orderly PERP_TAO_USDC	318.46	0.0139	get 0.0069% / 4h	51m 38s	$53K	$293K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.009%Rate

Funding earned: −$117.47
Price spread: −0.009% → 0.000%: −$0.89
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$130.36
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Reya and Orderly: 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 −0.0005%	1h	318.22	−0.083%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0067%	1h	318.50	+0.004%	$127K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.23	+0.233%	$44K	$707K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.90	+0.129%	$26.6M	$130.6M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	317.85	−0.201%	$169K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.70	+0.066%	$14.4M	$50.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.94	+0.142%	$17.9M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.73	+0.076%	$35.8M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.66	−0.260%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.38	−0.034%	$84K	$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	318.39	−0.031%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.76	−0.229%	$116K	$603K	20x	as long as short
Katana Perps TAO-USD	+0.0107%	8h	318.95	+0.145%	$6K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0110% / S +0.0157%	1h	318.23	−0.081%	$424K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	318.63	+0.046%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDCshort	+0.0139%	4h	318.46	−0.009%	$53K	$293K	10x
edgeX TAOUSDC	+0.0161%	4h	317.66	−0.260%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0166%	4h	318.91	+0.132%	$108.0M	$150.5M	300x	as long as short
Binance TAOUSDT	+0.0168%	4h	319.17	+0.214%	$92.7M	$529.2M	75x	as long as short
Paradex TAO-USD-PERP	+0.0237%	8h	318.92	+0.136%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0248%	4h	318.94	+0.142%	—	$37.0M	—	as long as short
Bybit TAOUSDT	+0.0252%	4h	319.24	+0.236%	$69.9M	$156.3M	50x	as long as short
Pacifica TAO	+0.0313%	1h	318.94	+0.142%	$362K	$427K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0316%	4h	317.65	−0.262%	$542K	$926K	10x	as long as short
Extended TAO-USD	+0.0328%	1h	318.84	+0.111%	$904K	$2.4M	25x	as long as short
Aster TAOUSDT	+0.0329%	4h	319.13	+0.203%	$1.3M	$11.0M	50x	as long as short
Bullet TAO-USD	+0.0338%	1h	318.64	+0.046%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0406%	4h	317.78	−0.222%	$4.7M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0410%	1h	319.17	+0.215%	$791K	$2.0M	10x	as long as short
Lighter TAO	+0.0456%	1h	319.02	+0.166%	$1.6M	$6.8M	5x	as long as short
Arcus TAO-USD	+0.0473%	1h	319.12	+0.198%	$103K	$389K	5x	as long as short
Variational Omni TAO	+0.0498%	4h	316.92	−0.494%	$5.6M	$10.3M	—	as long as short
Phemex TAOUSDT	+0.0561%	4h	318.35	−0.043%	$3.2M	$8.2M	50x	as long as short
Phoenix TAO	+0.0629%	1h	318.20	−0.091%	$317K	$703K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0669%	1h	318.48	−0.003%	$15K	$2.0M	25x	as long as short
Reya TAORUSDPERPlong	+0.0698%	1h	318.49	long leg	$366	—	20x
Backpack TAO_USDC_PERP	+0.0704%	1h	318.70	+0.066%	$297K	$905K	10x	as long as short
01 Exchange TAOUSD	+0.0712%	1h	319.56	+0.336%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0751%	1h	319.21	+0.227%	$94.4M	$110.0M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.86	+0.116%	$442K	$679K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0832%	1h	318.63	+0.044%	$6.0M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.84	+0.110%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	320.67	+0.685%	$23K	$2K	12x	as long as short