Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1043%/8h= −114.2% APRpaid last 24h −0.099%

Price spread now: Variational Omni against RISEx−0.182%7-day average +0.050% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on RISEx Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.410%−$41 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.182%, 7d avg +0.050%

Together, before fees−0.303%+ Points / potential airdropVariational Omni: Active · farm board−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Variational Omni is 0.231% cheaper against RISEx than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	312.98	0.1238	pay 0.0155% / 1h	40m 09s	$431K	$537K	5x
Short	Variational Omni TAO	312.41	0.0194	get 0.0097% / 4h	40m 09s	$3.9M	$7.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.182%Rate

Funding earned: −$219.05
Price spread: −0.182% → +0.050%: −$23.14
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$248.19
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 38 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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	1.30 bp	4.3 bp −$4	22.2 bp −$222	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.88 bp	doesn't fit	17.1 bp −$171	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	−0.4478%	1h	313.97	+0.318%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.36	−0.197%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.45	−0.169%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.452%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.60	−0.120%	$41K	$551K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.61	−0.118%	$370K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.61	−0.117%	$88.4M	$425.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.74	−0.075%	$61.3M	$124.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.60	−0.120%	$25.1M	$100.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.40	−0.184%	$12.7M	$49.3M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	312.64	−0.107%	$120.2M	$127.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.65	−0.104%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.47	−0.161%	$34.9M	$46.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.66	−0.101%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.83	−0.045%	$40K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.13	+0.369%	$529K	$948K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.59	−0.123%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.26	−0.228%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.79	−0.059%	$128K	$395K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.53	−0.142%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.86	−0.038%	$172K	$998	3x	as long as short
Bullet TAO-USD	+0.0107%	1h	312.66	−0.101%	$11K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	312.64	−0.107%	$2K	$541K	5x	as long as short
Polymarket Perps TAO-USD	+0.0116%	1h	312.78	−0.062%	$77K	$520K	5x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.02	+0.014%	$83K	$626K	5x	as long as short
Paradex TAO-USD-PERP	+0.0187%	8h	312.71	−0.086%	$14K	$1K	10x	as long as short
Variational Omni TAOshort	+0.0194%	4h	312.41	−0.182%	$3.9M	$7.0M	—
Aster TAOUSDT	+0.0202%	4h	312.62	−0.113%	$1.1M	$7.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0226%	1h	312.79	−0.059%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0351%	4h	312.42	−0.177%	$4.3M	$10.2M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0375%	1h	312.72	−0.083%	$19K	$1.4M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.57	−0.131%	$5.7M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.47	−0.161%	$448K	—	100x	as long as short
Nado TAO-PERP	+0.0522%	1h	312.67	−0.098%	$829K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0537%	1h	312.70	−0.088%	$300K	$799K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	−0.120%	$327K	$521K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.57	−0.128%	$359	—	20x	as long as short
01 Exchange TAOUSD	+0.0736%	1h	312.95	−0.008%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0864%	1h	312.60	−0.119%	$863K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.64	+0.532%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDClong	+0.1238%	1h	312.98	long leg	$431K	$537K	5x
Lighter TAO	+0.1392%	1h	313.08	+0.033%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.1912%	1h	313.10	+0.040%	$97.5M	$83.3M	5x	as long as short