Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0131%/8h= +14.4% APRpaid last 24h +0.012%

Price spread now: Paradex against Deribit−0.182%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Funding pays, the price is against you. Paradex is 0.182% cheaper against Deribit than usual: you would sell low and buy high (spread −0.182% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 4.6 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	308.21	0.0026	pay 0.0003% / 1h	11m 32s	$15K	$1.3M	25x
Short	Paradex TAO-USD-PERP	307.65	0.0157	get 0.0157% / 8h	2h 11m	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now −0.182%Rate

Funding earned: $27.53
Price spread: −0.182% → 0.000%: −$18.22
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$1.69
Costs to cover: 0.110%
Break-even: 7.4 days

Slippage unknown: Deribit: live order book, 2 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 Deribit live order book, 2 min ago	5.02 bp	8.5 bp −$9	16.2 bp −$162	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
Bulk TAO-USD	−0.0601%	1h	309.73	+0.492%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	307.30	−0.297%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	308.07	−0.047%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0026%	1h	308.21	long leg	$15K	$1.3M	25x
Popdex TAOUSDT	+0.0096%	1h	307.91	−0.098%	$41K	$528K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.66	−0.181%	$364K	$367K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.33	+0.038%	$86.4M	$405.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.24	+0.009%	$59.9M	$119.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.10	−0.036%	$25.4M	$93.6M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.01	−0.066%	$137K	$603K	5x	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	307.40	−0.264%	$12.2M	$48.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.12	−0.030%	$118.2M	$125.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.99	−0.072%	$18.7M	$26.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.97	−0.079%	$34.5M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.30	+0.028%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	309.10	+0.287%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.74	+0.496%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	308.77	+0.182%	$549K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.90	+0.548%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.44	+0.074%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.50	+0.093%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.13	−0.027%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.42	+0.067%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	308.16	−0.017%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	308.02	−0.062%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.33	+0.040%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	307.83	−0.124%	$880	$449K	5x	as long as short
Aster TAOUSDT	+0.0154%	4h	307.69	−0.171%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERPshort	+0.0157%	8h	307.65	−0.182%	$14K	$1K	10x
Phoenix TAO	+0.0234%	1h	308.80	+0.191%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0309%	1h	308.00	−0.068%	$852K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	308.46	+0.080%	$4.3M	$9.5M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0485% / S −0.0184%	1h	308.03	−0.059%	$453K	—	100x	as long as short
01 Exchange TAOUSD	+0.0528%	1h	308.19	−0.007%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	308.18	−0.010%	$354	—	20x	as long as short
Extended TAO-USD	+0.0728%	1h	307.73	−0.158%	$907K	$2.0M	25x	as long as short
Lighter TAO	+0.0912%	1h	307.98	−0.076%	$1.7M	$4.8M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0954%	1h	308.20	−0.004%	$383K	$753K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	310.60	+0.775%	$1.5M	$5.5M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1022%	1h	308.53	+0.104%	$6.4M	$19.0M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.96	−0.083%	$412K	$542K	5x	as long as short
Hyperliquid TAO	+0.1807%	1h	308.79	+0.189%	$96.5M	$77.4M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	+0.168%	$22K	$271	12x	as long as short