Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0679%/8h= −74.4% APRpaid last 24h −0.107%

Price spread now: BloFin against RISEx−0.075%97s7-day average +0.005% · 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—prices read too far apart to compare

costs, in and out, $10k−$290.291% of the position

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.239%−$24 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.075%, 7d avg +0.005%

Together, before fees−0.138%−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and BloFin is 0.080% cheaper against RISEx than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.239% in total (about -23.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	320.01	0.1077	pay 0.0135% / 1h	39m 42s	$460K	$664K	5x
Short	BloFin TAO-USDT	319.77	0.0398	get 0.0199% / 4h	1h 39m	$4.7M	$11.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$142.67
Price spread: −0.075% → +0.005%: −$7.99
Slippage, 4 orders: −$11.08
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$179.73
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; BloFin: live order book, 4 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, 4 min ago	1.09 bp	4.1 bp −$4	25.4 bp −$254	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.31 bp	10.6 bp −$11	15.7 bp −$157	28.4 bp −$2,836	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	−0.2019%	1h	319.65	−0.112%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.66	−0.109%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.54	−0.148%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.22	+0.066%	$41K	$696K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.80	−0.066%	$26.5M	$129.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.20	−0.253%	$14.2M	$51.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.53	−0.150%	$17.9M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.66	−0.109%	$35.8M	$58.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.81	−0.062%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.00	−0.003%	$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	−0.212%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.46	−0.172%	$118K	$588K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.04	+0.009%	$726	$1.0M	5x	as long as short
Phemex TAOUSDT	+0.0117%	4h	319.86	−0.047%	$3.3M	$8.1M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	319.66	−0.109%	$53K	$292K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.73	−0.086%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0120% / S +0.0157%	1h	319.48	−0.165%	$432K	—	100x	as long as short
edgeX TAOUSDC	+0.0152%	4h	320.03	+0.008%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0158%	4h	319.91	−0.031%	$105.1M	$149.7M	300x	as long as short
Binance TAOUSDT	+0.0158%	4h	319.68	−0.102%	$92.5M	$527.2M	75x	as long as short
Paradex TAO-USD-PERP	+0.0260%	8h	319.88	−0.039%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0313%	4h	319.67	−0.107%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0370%	4h	319.88	−0.041%	$69.8M	$155.8M	50x	as long as short
Bullet TAO-USD	+0.0389%	1h	319.84	−0.052%	$12K	$17K	20x	as long as short
BloFin TAO-USDTshort	+0.0398%	4h	319.77	−0.075%	$4.7M	$11.1M	100x
BingX TAO-USDT	+0.0398%	4h	319.89	−0.037%	—	$34.5M	—	as long as short
GRVT TAO_USDT_Perp	+0.0408%	4h	319.70	−0.098%	$544K	$940K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	319.91	−0.030%	$917K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	319.59	−0.132%	$364K	$423K	10x	as long as short
Variational Omni TAO	+0.0535%	4h	319.70	−0.097%	$5.6M	$10.2M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0540%	1h	319.62	−0.121%	$14K	$1.9M	25x	as long as short
Phoenix TAO	+0.0567%	1h	320.30	+0.091%	$319K	$709K	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	320.41	+0.125%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.41	+0.125%	$103K	$394K	5x	as long as short
Nado TAO-PERP	+0.0646%	1h	320.14	+0.041%	$802K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0651%	1h	319.53	−0.150%	$94.4M	$110.0M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0677%	1h	319.53	−0.150%	$300K	$904K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.82	−0.059%	$368	—	20x	as long as short
Lighter TAO	+0.0864%	1h	319.77	−0.075%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.89	+0.275%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDClong	+0.1077%	1h	320.01	long leg	$460K	$664K	5x
Kraken Futures PF_TAOUSD	+0.1154%	1h	319.80	−0.066%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.63	+1.131%	$24K	$2K	12x	as long as short