Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0507%/8h= +55.5% APRpaid last 24h +0.177%

Price spread now: Reya against Variational Omni−0.223%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.223% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.223% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 35 hours of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TAO	313.49	0.0188	pay 0.0094% / 4h	45m 09s	$3.9M	$7.0M	—
Short	Reya TAORUSDPERP	312.79	0.0695	get 0.0087% / 1h	45m 09s	$360	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Variational Omni. 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 Variational OmnibpFee ReyabpOrdersPrice spread, now −0.223%Rate

Funding earned: $106.47
Price spread: −0.223% → 0.000%: −$22.32
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $78.15
Costs to cover: 0.060%
Break-even: 1.9 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Reya: no order-book sample. 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 Variational Omni RFQ quote, 4 min ago	2.87 bp	doesn't fit	12.5 bp −$125	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.4722%	1h	314.01	+0.168%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.51	−0.310%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.55	−0.300%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.288%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.94	−0.174%	$40K	$549K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.88	−0.193%	$370K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.95	−0.169%	$88.6M	$423.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.55	+0.020%	$61.4M	$123.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.40	−0.027%	$25.1M	$100.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.10	−0.123%	$12.7M	$49.1M	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	313.40	−0.027%	$119.9M	$127.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.90	−0.187%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.21	−0.088%	$35.0M	$46.3M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.36	−0.040%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.65	+0.051%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.17	+0.219%	$519K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.82	−0.212%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.67	−0.260%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.92	−0.180%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.93	−0.177%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.93	−0.178%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	312.89	−0.190%	$828	$539K	5x	as long as short
Polymarket Perps TAO-USD	+0.0137%	1h	312.93	−0.177%	$77K	$522K	5x	as long as short
Bullet TAO-USD	+0.0150%	1h	312.91	−0.185%	$11K	$17K	20x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.20	−0.091%	$83K	$626K	5x	as long as short
Paradex TAO-USD-PERP	+0.0187%	8h	312.83	−0.210%	$14K	$1K	10x	as long as short
Variational Omni TAOlong	+0.0188%	4h	313.49	long leg	$3.9M	$7.0M	—
Aster TAOUSDT	+0.0206%	4h	312.81	−0.214%	$1.1M	$7.8M	50x	as long as short
ApeX Omni TAOUSDT	+0.0212%	1h	314.14	+0.209%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.23	−0.401%	$4.3M	$9.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.84	−0.207%	$5.8M	$19.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0473%	1h	312.86	−0.199%	$18K	$1.4M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.57	−0.292%	$448K	—	100x	as long as short
Nado TAO-PERP	+0.0532%	1h	312.99	−0.159%	$833K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	−0.283%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0575%	1h	313.50	+0.005%	$301K	$799K	10x	as long as short
Reya TAORUSDPERPshort	+0.0695%	1h	312.79	−0.223%	$360	—	20x
01 Exchange TAOUSD	+0.0808%	1h	313.23	−0.082%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	312.84	−0.207%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.29	−0.062%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.11	−0.119%	$431K	$536K	5x	as long as short
Lighter TAO	+0.1472%	1h	313.29	−0.062%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2118%	1h	313.96	+0.151%	$98.3M	$82.9M	5x	as long as short