Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0977%/8h= −107.0% APRpaid last 24h −0.182%

Price spread now: Bitget against RISEx−0.010%7-day average −0.059% · you buy dearer than you sell

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−$310.311% of the position

Long on RISEx Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.506%−$51 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now −0.010%, 7d avg −0.059%

Together, before fees−0.605%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.049% dearer against RISEx than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.059%): +$5 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 4 days (−0.506% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	319.04	0.1077	pay 0.0135% / 1h	28m 11s	$457K	$666K	5x
Short	Bitget TAOUSDT	319.01	0.0100	get 0.0050% / 4h	1h 28m	$35.9M	$58.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$205.17
Price spread: −0.010% → −0.059%: $4.89
Slippage, 4 orders: −$13.05
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$231.33
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from RISEx: live order book, 15 min ago; Bitget: live order book, 1 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, 15 min ago	1.09 bp	4.1 bp −$4	25.4 bp −$254	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.25 bp	12.6 bp −$13	13.6 bp −$136	25.1 bp −$2,512	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	−0.1995%	1h	319.47	+0.134%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.13	+0.028%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	319.02	−0.007%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.13	+0.028%	$42K	$705K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.30	+0.081%	$26.6M	$129.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.00	−0.013%	$14.2M	$52.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.26	+0.068%	$17.9M	$32.1M	75x	as long as short
Bitget TAOUSDTshort	+0.0100%	4h	319.01	−0.010%	$35.9M	$58.4M	50x
ApeX Omni TAOUSDT	+0.0100%	1h	320.35	+0.410%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.06	+0.006%	$91K	$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	319.13	+0.028%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.75	−0.092%	$118K	$590K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	319.00	−0.013%	$1K	$1.0M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0118% / S +0.0149%	1h	318.95	−0.029%	$426K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.41	+0.117%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	319.26	+0.068%	$53K	$292K	10x	as long as short
edgeX TAOUSDC	+0.0165%	4h	319.82	+0.242%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0170%	4h	319.42	+0.118%	$105.7M	$150.1M	300x	as long as short
Binance TAOUSDT	+0.0172%	4h	319.38	+0.105%	$92.5M	$529.1M	75x	as long as short
Paradex TAO-USD-PERP	+0.0264%	8h	319.14	+0.032%	$14K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0295%	4h	319.54	+0.156%	$3.3M	$8.1M	50x	as long as short
Aster TAOUSDT	+0.0334%	4h	319.34	+0.094%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0334%	4h	319.46	+0.131%	$70.0M	$156.1M	50x	as long as short
BingX TAO-USDT	+0.0350%	4h	319.31	+0.084%	—	$34.5M	—	as long as short
Bullet TAO-USD	+0.0387%	1h	319.39	+0.109%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0396%	4h	319.57	+0.166%	$544K	$940K	10x	as long as short
BloFin TAO-USDT	+0.0410%	4h	319.36	+0.100%	$4.7M	$11.1M	100x	as long as short
Extended TAO-USD	+0.0456%	1h	319.27	+0.072%	$911K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	319.31	+0.083%	$363K	$423K	10x	as long as short
Variational Omni TAO	+0.0541%	4h	320.05	+0.316%	$5.7M	$10.2M	—	as long as short
Nado TAO-PERP	+0.0556%	1h	319.13	+0.027%	$794K	$2.0M	10x	as long as short
Phoenix TAO	+0.0567%	1h	319.20	+0.049%	$318K	$709K	5x	as long as short
Hyperliquid TAO	+0.0632%	1h	319.25	+0.065%	$94.3M	$110.3M	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	319.41	+0.115%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	319.56	+0.162%	$103K	$394K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.25	+0.064%	$367	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0707%	1h	319.12	+0.024%	$297K	$905K	10x	as long as short
Lighter TAO	+0.0728%	1h	319.53	+0.153%	$1.5M	$6.7M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0751%	1h	319.33	+0.091%	$15K	$1.9M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.68	+0.513%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDClong	+0.1077%	1h	319.04	long leg	$457K	$666K	5x
Kraken Futures PF_TAOUSD	+0.1156%	1h	319.35	+0.095%	$5.9M	$21.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.44	+1.378%	$24K	$2K	12x	as long as short