Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0665%/8h= −72.8% APRpaid last 24h −0.136%

Price spread now: Aster against RISEx+0.534%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$26as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on RISEx Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.351%−$35 on $10k

Price spread, last 4 days (all we have)−0.570%−$57 · spread now +0.534%, 7d avg +0.019%

Together, before fees−0.920%+ Points / potential airdropAster: Stage 5 · farm board−$92 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.515% dearer against RISEx than usual: you sell high and buy low (spread +0.534% now, against its 7-day average of +0.019%): +$52 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 4 days (−0.351% in total) that is about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	322.05	0.0948	pay 0.0118% / 1h	6m 10s	$463K	$649K	5x
Short	Aster TAOUSDT	323.77	0.0283	get 0.0142% / 4h	2h 06m	$1.3M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against RISEx. 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 RISExbpFee AsterbpOrdersPrice spread, now +0.534%Rate

Funding earned: −$139.63
Price spread: +0.534% → +0.019%: $51.51
Slippage, 4 orders: −$11.39
Fee RISEx: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$113.52
Costs to cover: 0.254%
Break-even: from the start

Slippage from RISEx: live order book, 42 min ago; Aster: live order book, 3 min ago.

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 RISEx live order book, 42 min ago	1.75 bp	4.8 bp −$5	16.5 bp −$165	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.47 bp	7.4 bp −$7	17.2 bp −$172	115.3 bp −$11.5K	doesn't fit

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	−0.1195%	1h	319.01	−0.943%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.12	+0.332%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0029%	1h	321.54	−0.158%	$128K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	324.30	+0.698%	$26.9M	$128.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	324.00	+0.605%	$14.2M	$51.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.33	+0.397%	$17.8M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	324.02	+0.611%	$36.6M	$57.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.32	+0.084%	$79K	$958K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.27	+0.068%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	323.55	+0.465%	$118K	$565K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.94	+0.587%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	321.98	−0.022%	$659	$952K	5x	as long as short
edgeX TAOUSDC	+0.0110%	4h	319.26	−0.868%	$42K	$315K	10x	as long as short
Aevo TAO-PERP	+0.0112%	1h	323.55	+0.466%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	323.57	+0.472%	$53K	$291K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	322.18	+0.040%	$49K	$679K	20x	as long as short
MEXC TAO_USDT	+0.0124%	4h	322.64	+0.183%	$103.2M	$148.7M	300x	as long as short
Binance TAOUSDT	+0.0124%	4h	324.01	+0.608%	$93.6M	$516.1M	75x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0142%	1h	322.79	+0.231%	$432K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	322.02	−0.010%	$366K	$421K	10x	as long as short
Aster TAOUSDTshort	+0.0283%	4h	323.77	+0.534%	$1.3M	$10.8M	50x
Nado TAO-PERP	+0.0291%	1h	322.50	+0.140%	$816K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0294%	1h	323.62	+0.487%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0295%	8h	322.06	+0.004%	$15K	$1K	10x	as long as short
Bullet TAO-USD	+0.0325%	1h	322.65	+0.186%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0364%	4h	321.98	−0.022%	$4.6M	$11.1M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	324.26	+0.686%	—	$33.9M	—	as long as short
GRVT TAO_USDT_Perp	+0.0440%	4h	319.60	−0.762%	$545K	$948K	10x	as long as short
Bybit TAOUSDT	+0.0460%	4h	324.63	+0.801%	$71.2M	$154.1M	50x	as long as short
Arcus TAO-USD	+0.0483%	1h	322.26	+0.065%	$110K	$364K	5x	as long as short
Variational Omni TAO	+0.0485%	4h	319.46	−0.805%	$5.6M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0487%	1h	319.47	−0.801%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0504%	1h	323.34	+0.399%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	320.60	−0.451%	$319K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	322.47	+0.131%	$371	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0709%	1h	323.61	+0.483%	$14K	$1.8M	25x	as long as short
Lighter TAO	+0.0808%	1h	324.47	+0.750%	$1.5M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	322.75	+0.217%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0825%	1h	324.59	+0.788%	$95.6M	$109.4M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0847%	1h	324.63	+0.801%	$322K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	324.00	+0.605%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDClong	+0.0948%	1h	322.05	long leg	$463K	$649K	5x
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.487%	$24K	$2K	12x	as long as short