Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1139%/8h= −124.7% APRpaid last 24h −0.018%

Price spread now: Paradex against Backpack+0.605%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Paradex is 0.605% dearer against Backpack than usual: you sell high and buy low (spread +0.605% now, against zero (this spread has no 7-day history yet)): +$61 on $10k if it goes back. Holding the pair costs −$34 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TAO_USDC_PERP	305.78	0.1302	pay 0.0163% / 1h	30m 05s	$437K	$703K	10x
Short	Paradex TAO-USD-PERP	307.63	0.0163	get 0.0163% / 8h	2h 30m	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Backpack. 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 BackpackbpFee ParadexbpOrdersPrice spread, now +0.605%Rate

Funding earned: −$239.14
Price spread: +0.605% → 0.000%: $60.54
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$192.61
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Backpack: live order book, 58 min ago; Paradex: 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 Backpack live order book, 58 min ago	0.64 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
dYdX TAO-USD	0.0000%	1h	307.36	+0.517%	$129K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	305.39	−0.126%	$15K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	305.17	−0.200%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.24	+0.477%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.71	+0.630%	$364K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.84	+0.018%	$85.6M	$402.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	306.02	+0.078%	$59.1M	$118.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.80	+0.007%	$25.0M	$92.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.60	+0.595%	$137K	$594K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	+0.422%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	305.60	−0.059%	$12.0M	$47.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.73	−0.016%	$112.9M	$123.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	305.64	−0.046%	$18.4M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	305.66	−0.039%	$34.3M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.86	+0.026%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.573%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.38	+0.524%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.30	+0.498%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.14	+0.445%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.25	−0.173%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.25	−0.173%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.96	−0.268%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.47	−0.428%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.56	−0.072%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.46	−0.103%	$168K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0106%	1h	307.43	+0.540%	$86K	$669K	5x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	307.37	+0.520%	$1K	$430K	5x	as long as short
Aster TAOUSDT	+0.0160%	4h	305.76	−0.005%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERPshort	+0.0163%	8h	307.63	+0.605%	$14K	$1K	10x
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.99	−0.257%	$435K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.824%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0283%	1h	307.42	+0.535%	$846K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.28	+0.491%	$4.2M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.74	+0.641%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.05	+0.415%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	305.30	−0.159%	$901K	$2.0M	25x	as long as short
Lighter TAO	+0.0944%	1h	306.26	+0.157%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	305.96	+0.059%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1031%	1h	305.85	+0.022%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.49	+0.561%	$411K	$535K	5x	as long as short
Backpack TAO_USDC_PERPlong	+0.1302%	1h	305.78	long leg	$437K	$703K	10x
Hyperliquid TAO	+0.1694%	1h	306.58	+0.262%	$93.7M	$75.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.929%	$22K	$138	12x	as long as short