Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0275%/8h= −30.1% APRpaid last 24h +0.017%

Price spread now: Paradex against Bybit−0.018%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	317.31	0.0526	pay 0.0263% / 4h	3h 47m	$69.9M	$156.3M	50x
Short	Paradex TAO-USD-PERP	317.25	0.0251	get 0.0251% / 8h	7h 47m	$14K	$876	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bybit. 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 BybitbpFee ParadexbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$57.7
Price spread: −0.018% → 0.000%: −$1.76
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$74.46
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	0.16 bp	8.8 bp −$9	16.3 bp −$163	44.5 bp −$4,449	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.76	−0.173%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0071%	1h	316.80	−0.162%	$127K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.11	−0.063%	$49K	$718K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	317.01	−0.095%	$920	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.30	−0.003%	$26.4M	$131.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.80	−0.161%	$14.8M	$49.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.12	−0.060%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.89	−0.132%	$35.7M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.26	−0.016%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.82	−0.154%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	316.41	−0.284%	$116K	$589K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.96	−0.110%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	317.12	−0.061%	$174K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0140%	4h	316.42	−0.282%	$542K	$887K	10x	as long as short
MEXC TAO_USDT	+0.0160%	4h	317.25	−0.019%	$104.5M	$151.6M	300x	as long as short
Binance TAOUSDT	+0.0162%	4h	317.18	−0.040%	$92.8M	$531.7M	75x	as long as short
edgeX TAOUSDC	+0.0167%	4h	316.51	−0.252%	$42K	$320K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0203%	4h	317.03	−0.088%	$54K	$299K	10x	as long as short
Bulk TAO-USD	+0.0233%	1h	316.19	−0.353%	$168K	$0	10x	as long as short
Bullet TAO-USD	+0.0239%	1h	317.14	−0.054%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERPshort	+0.0251%	8h	317.25	−0.018%	$14K	$876	10x
ApeX Omni TAOUSDT	+0.0308%	1h	316.74	−0.180%	$46K	$259K	50x	as long as short
Aster TAOUSDT	+0.0322%	4h	317.06	−0.080%	$1.2M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	317.23	−0.024%	$372K	$442K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0366% / S −0.0107%	1h	316.80	−0.161%	$372K	—	100x	as long as short
Extended TAO-USD	+0.0376%	1h	317.09	−0.071%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0398%	4h	316.98	−0.104%	$4.8M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	317.36	+0.016%	$100K	$377K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0524%	1h	316.98	−0.105%	$15K	$1.9M	25x	as long as short
Bybit TAOUSDTlong	+0.0526%	4h	317.31	long leg	$69.9M	$156.3M	50x
Hyperliquid TAO	+0.0539%	1h	317.29	−0.006%	$93.6M	$110.0M	5x	as long as short
Nado TAO-PERP	+0.0567%	1h	316.91	−0.125%	$771K	$2.0M	10x	as long as short
BingX TAO-USDT	+0.0568%	4h	317.17	−0.044%	—	$37.3M	—	as long as short
Phoenix TAO	+0.0578%	1h	315.60	−0.539%	$317K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	317.56	+0.079%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0612%	4h	316.00	−0.412%	$5.6M	$10.1M	—	as long as short
Lighter TAO	+0.0664%	1h	317.37	+0.020%	$1.6M	$6.6M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.02	−0.091%	$365	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0785%	1h	317.00	−0.097%	$6.0M	$21.3M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0786%	1h	317.22	−0.028%	$317K	$1.0M	10x	as long as short
RISEx TAO/USDC	+0.0840%	1h	316.95	−0.114%	$449K	$670K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	317.42	+0.035%	$1.2M	$7.3M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	321.91	+1.450%	$23K	$2K	12x	as long as short