Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0848%/8h= −92.9% APRpaid last 24h −0.170%

Price spread now: KuCoin against RISEx+0.120%7-day average −0.013% · 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−$30as in the Price arb table

costs, in and out, $10k−$430.435% of the position

Long on RISEx Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.491%−$49 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.120%, 7d avg −0.013%

Together, before fees−0.657%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.133% dearer against RISEx than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of −0.013%): +$13 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	319.90	0.0948	pay 0.0118% / 1h	10m 21s	$461K	$649K	5x
Short	KuCoin TAOUSDTM	320.29	0.0100	get 0.0050% / 4h	2h 10m	$17.7M	$31.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$178.07
Price spread: +0.120% → −0.013%: $13.33
Slippage, 4 orders: −$25.47
Fee RISEx: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$208.21
Costs to cover: 0.435%
Break-even: never at this rate

Slippage from RISEx: live order book, 38 min ago; KuCoin: 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, 38 min ago	1.75 bp	4.8 bp −$5	16.5 bp −$165	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.25 bp	16.2 bp −$16	30.5 bp −$305	doesn't fit	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	−0.279%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.52	+0.192%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0031%	1h	319.43	−0.148%	$127K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.90	+0.311%	$26.7M	$126.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.30	+0.123%	$14.3M	$51.7M	50x	as long as short
KuCoin TAOUSDTMshort	+0.0100%	4h	320.29	+0.120%	$17.7M	$31.5M	75x
Bitget TAOUSDT	+0.0100%	4h	320.20	+0.092%	$36.1M	$57.3M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.35	+0.139%	$92K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.07	−0.261%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.74	−0.364%	$116K	$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	319.30	−0.189%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.72	−0.059%	$176K	$998	3x	as long as short
edgeX TAOUSDC	+0.0104%	4h	319.21	−0.216%	$42K	$314K	10x	as long as short
MEXC TAO_USDT	+0.0108%	4h	320.55	+0.202%	$102.1M	$148.2M	300x	as long as short
Binance TAOUSDT	+0.0110%	4h	320.87	+0.302%	$92.0M	$514.4M	75x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	319.72	−0.058%	$3K	$946K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	320.99	+0.339%	$53K	$291K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	319.98	+0.023%	$54K	$671K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0126% / S +0.0141%	1h	320.49	+0.183%	$431K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	319.82	−0.025%	$365K	$420K	10x	as long as short
Aster TAOUSDT	+0.0272%	4h	320.64	+0.230%	$1.3M	$10.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0278%	8h	319.80	−0.033%	$15K	$1K	10x	as long as short
Nado TAO-PERP	+0.0294%	1h	320.42	+0.162%	$811K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0298%	1h	319.56	−0.108%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0319%	1h	320.95	+0.327%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0350%	4h	319.59	−0.098%	$3.7M	$11.0M	100x	as long as short
BingX TAO-USDT	+0.0388%	4h	320.78	+0.274%	—	$33.8M	—	as long as short
Bybit TAOUSDT	+0.0401%	4h	321.01	+0.345%	$70.4M	$153.7M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0436%	4h	318.55	−0.423%	$545K	$935K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	320.13	+0.070%	$110K	$351K	5x	as long as short
Variational Omni TAO	+0.0485%	4h	319.46	−0.139%	$5.6M	$10.1M	—	as long as short
Extended TAO-USD	+0.0496%	1h	319.61	−0.091%	$906K	$2.4M	25x	as long as short
ApeX Omni TAOUSDT	+0.0508%	1h	319.61	−0.092%	$47K	$256K	50x	as long as short
Phoenix TAO	+0.0513%	1h	318.90	−0.314%	$317K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0528%	1h	319.42	−0.153%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	320.36	+0.144%	$368	—	20x	as long as short
01 Exchange TAOUSD	+0.0792%	1h	320.40	+0.155%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0792%	1h	320.01	+0.032%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0808%	1h	320.70	+0.249%	$94.3M	$109.7M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0832%	1h	319.54	−0.114%	$317K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	320.14	+0.073%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDClong	+0.0948%	1h	319.90	long leg	$461K	$649K	5x
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+0.949%	$23K	$2K	12x	as long as short