Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0078%/8h= −8.5% APRpaid last 24h −0.072%

Price spread now: Polymarket Perps against BloFin−0.286%45s7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.374% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.513%−$51 on $10k

Price spread, last 3 days (all we have)+0.229%+$23 · spread now −0.286%, 7d avg −0.034%

Together, before fees−0.284%−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Polymarket Perps is 0.252% cheaper against BloFin than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.034%). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	318.23	0.0340	pay 0.0170% / 4h	3h 06m	$4.5M	$10.8M	100x
Short	Polymarket Perps TAO-USD	317.32	0.0262	get 0.0033% / 1h	6m 23s	$93K	$633K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.286%Rate

Funding earned: −$16.3
Price spread: −0.286% → −0.034%: −$25.21
Slippage, 4 orders: −$17.37
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$78.87
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Polymarket Perps: live order book, 1 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 BloFin live order book, 2 min ago	4.11 bp	10.1 bp −$10	12.6 bp −$126	29.9 bp −$2,992	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.84 bp	8.7 bp −$9	9.5 bp −$95	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	−0.1228%	1h	316.14	−0.657%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.00	−0.386%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.31	−0.605%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.20	−0.324%	$43K	$603K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.66	−0.492%	$90.7M	$450.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.50	−0.544%	$25.8M	$109.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.70	−0.481%	$12.9M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.95	−0.402%	$99.6M	$136.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.09	−0.358%	$18.0M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.92	−0.412%	$35.2M	$51.5M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.12	−0.664%	$40K	$293K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.81	−0.760%	$523K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.43	−0.566%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.70	−0.481%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.76	−0.148%	$127K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.76	−0.148%	$3.4M	$7.8M	50x	as long as short
Bullet TAO-USD	+0.0101%	1h	317.01	−0.384%	$12K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.97	−0.396%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0124%	8h	317.07	−0.365%	$1K	$644K	5x	as long as short
ApeX Omni TAOUSDT	+0.0154%	1h	316.14	−0.657%	$48K	$267K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	316.54	−0.531%	$449K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	317.39	−0.264%	$376K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	317.39	−0.264%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0207%	4h	316.97	−0.396%	$1.3M	$8.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0237%	8h	317.05	−0.370%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USDshort	+0.0262%	1h	317.32	−0.286%	$93K	$633K	5x
Deribit TAO_USDC-PERPETUAL	+0.0292%	1h	317.77	−0.145%	$17K	$1.5M	25x	as long as short
BloFin TAO-USDTlong	+0.0340%	4h	318.23	long leg	$4.5M	$10.8M	100x
Kraken Futures PF_TAOUSD	+0.0482%	1h	317.90	−0.105%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	316.20	−0.638%	$331K	$624K	5x	as long as short
Variational Omni TAO	+0.0546%	4h	316.94	−0.405%	$5.5M	$8.7M	—	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.25	−0.308%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	316.59	−0.515%	$23K	$902	12x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.13	−0.345%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	316.70	−0.481%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0705%	4h	316.84	−0.437%	$65.2M	$133.5M	50x	as long as short
Nado TAO-PERP	+0.0749%	1h	317.24	−0.312%	$873K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0805%	1h	318.28	+0.016%	$322K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.23	−0.314%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1112%	1h	316.89	−0.420%	$884K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	317.24	−0.313%	$421K	$593K	5x	as long as short
Lighter TAO	+0.1424%	1h	317.65	−0.183%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1780%	1h	317.50	−0.228%	$101.6M	$91.6M	5x	as long as short