Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h +0.015%

Price spread now: Paradex against Bullet−0.041%7-day average — · you buy dearer than you sell

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

Long on Bullet 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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Paradex is 0.041% cheaper against Bullet than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	318.34	0.0388	pay 0.0048% / 1h	18m 15s	$12K	$17K	20x
Short	Paradex TAO-USD-PERP	318.21	0.0186	get 0.0186% / 8h	6h 18m	$14K	$876	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bullet. 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 BulletbpFee ParadexbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$42.35
Price spread: −0.041% → 0.000%: −$4.08
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$58.43
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; 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 Bullet no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Bullet and 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 exchanges

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	−0.1080%	1h	318.61	+0.085%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	317.21	−0.355%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.45	+0.035%	$51K	$633K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	317.54	−0.251%	$69.6M	$155.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.00	−0.107%	$27.0M	$129.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.00	−0.107%	$15.7M	$49.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.22	−0.038%	$17.7M	$31.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.82	−0.163%	$36.0M	$56.8M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	318.37	+0.009%	$45K	$256K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.09	−0.078%	$81K	$1.1M	5x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	317.82	−0.163%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.88	−0.144%	$117K	$557K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.55	−0.248%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0105%	8h	318.24	−0.031%	$1K	$1.3M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	318.07	−0.083%	$175K	$998	3x	as long as short
MEXC TAO_USDT	+0.0132%	4h	318.34	0.000%	$110.7M	$151.9M	300x	as long as short
BingX TAO-USDT	+0.0132%	4h	318.18	−0.050%	—	$39.0M	—	as long as short
Binance TAOUSDT	+0.0132%	4h	317.55	−0.248%	$93.2M	$515.9M	75x	as long as short
edgeX TAOUSDC	+0.0132%	4h	318.43	+0.029%	$42K	$324K	10x	as long as short
Paradex TAO-USD-PERPshort	+0.0186%	8h	318.21	−0.041%	$14K	$876	10x
Extended TAO-USD	+0.0232%	1h	317.90	−0.139%	$961K	$2.1M	25x	as long as short
Orderly PERP_TAO_USDC	+0.0251%	4h	318.02	−0.100%	$53K	$262K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0256%	4h	318.62	+0.089%	$541K	$814K	10x	as long as short
Pacifica TAO	+0.0301%	1h	318.30	−0.013%	$372K	$448K	10x	as long as short
Aster TAOUSDT	+0.0304%	4h	317.66	−0.214%	$1.2M	$11.3M	50x	as long as short
Lighter TAO	+0.0360%	1h	317.62	−0.227%	$1.6M	$6.7M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0361% / S −0.0107%	1h	317.19	−0.362%	$373K	—	100x	as long as short
Arcus TAO-USD	+0.0364%	1h	318.58	+0.075%	$100K	$325K	5x	as long as short
BloFin TAO-USDT	+0.0372%	4h	317.79	−0.173%	$4.9M	$10.5M	100x	as long as short
Bullet TAO-USDlong	+0.0388%	1h	318.34	long leg	$12K	$17K	20x
Variational Omni TAO	+0.0410%	4h	318.32	−0.006%	$5.7M	$9.8M	—	as long as short
Nado TAO-PERP	+0.0444%	1h	318.54	+0.062%	$709K	$2.0M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0510%	1h	317.93	−0.129%	$14K	$1.9M	25x	as long as short
Phoenix TAO	+0.0567%	1h	319.00	+0.207%	$321K	$712K	5x	as long as short
dYdX TAO-USD	+0.0633%	1h	318.03	−0.097%	$268K	$235K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0658%	1h	317.86	−0.151%	$298K	$1.1M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0683%	1h	318.05	−0.092%	$6.2M	$19.7M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	318.30	−0.013%	$366	—	20x	as long as short
RISEx TAO/USDC	+0.0701%	1h	318.24	−0.030%	$440K	$704K	5x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	318.86	+0.163%	$3K	$2K	5x	as long as short
Hyperliquid TAO	+0.0787%	1h	318.48	+0.044%	$96.1M	$108.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	318.47	+0.041%	$1.1M	$7.7M	50x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	322.26	+1.231%	$23K	$2K	12x	as long as short