Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0891%/8h= −97.6% APRpaid last 24h −0.150%

Price spread now: Binance against RISEx+0.054%55s7-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—prices read too far apart to compare

costs, in and out, $10k−$270.265% of the position

Long on RISEx Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.473%−$47 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now +0.054%, 7d avg −0.019%

Together, before fees−0.793%−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.074% dearer against RISEx than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of −0.019%): +$7 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 4 days (−0.473% in total) that is about 13 hours. 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	RISEx TAO/USDC	314.81	0.0991	pay 0.0124% / 1h	12m 40s	$436K	$652K	5x
Short	Binance TAOUSDT	314.98	0.0100	get 0.0050% / 4h	12m 40s	$91.0M	$495.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.054%Rate

Funding earned: −$187.16
Price spread: +0.054% → −0.019%: $7.36
Slippage, 4 orders: −$10.53
Fee RISEx: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$206.34
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from RISEx: live order book, 46 min ago; Binance: live order book, 16 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, 46 min ago	2.38 bp	5.6 bp −$6	35.7 bp −$357	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	0.16 bp	7.4 bp −$7	14.9 bp −$149	30.3 bp −$3,030	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
dYdX TAO-USD	0.0000%	1h	314.80	−0.004%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.63	−0.059%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.92	+0.036%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.81	0.000%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.66	−0.048%	$644	$799K	5x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	314.98	+0.054%	$91.0M	$495.0M	75x
Bybit TAOUSDT	+0.0100%	4h	315.07	+0.082%	$67.9M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.90	+0.028%	$26.0M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.60	−0.067%	$12.9M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.89	+0.025%	$110.8M	$144.2M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.83	+0.006%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.76	−0.016%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.01	+0.063%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.09	+0.088%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.71	−0.033%	$521K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.38	+0.181%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.64	−0.054%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.90	+0.028%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.67	−0.045%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.31	−0.159%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.81	0.000%	$3.2M	$8.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.68	−0.041%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.85	+0.014%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.84	+0.009%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0145% / S +0.0122%	1h	314.66	−0.049%	$428K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	314.96	+0.047%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0172%	4h	314.83	+0.008%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	314.72	−0.028%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0215%	1h	314.61	−0.063%	$800K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0270%	1h	315.05	+0.076%	$92.7M	$106.6M	5x	as long as short
01 Exchange TAOUSD	+0.0328%	1h	314.94	+0.041%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.08	+0.086%	$4.6M	$10.9M	100x	as long as short
Lighter TAO	+0.0344%	1h	315.17	+0.114%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0345%	1h	314.96	+0.048%	$315K	$913K	10x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.06	+0.079%	$99K	$438K	5x	as long as short
Pacifica TAO	+0.0365%	1h	314.99	+0.057%	$359K	$412K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0377%	1h	314.98	+0.052%	$23K	$1.7M	25x	as long as short
Variational Omni TAO	+0.0461%	4h	315.17	+0.114%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.10	+0.092%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.86	+0.014%	$362	—	20x	as long as short
RISEx TAO/USDClong	+0.0991%	1h	314.81	long leg	$436K	$652K	5x
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.12	+0.416%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.074%	$23K	$2K	12x	as long as short