Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0272%/8h= +29.7% APRpaid last 24h +0.007%

Price spread now: Paradex against dYdX−0.115%7-day average — · you buy dearer than you sell

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

Long on dYdX 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 0.115% cheaper against dYdX than usual: you would sell low and buy high (spread −0.115% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 34 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TAO-USD	322.84	0	get 0.0000% / 1h	54m 49s	$129K	$85K	5x
Short	Paradex TAO-USD-PERP	322.46	0.0272	get 0.0272% / 8h	1h 54m	$15K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against dYdX. 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 dYdXbpFee ParadexbpOrdersPrice spread, now −0.115%Rate

Funding earned: $57.03
Price spread: −0.115% → 0.000%: −$11.53
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $31.5
Costs to cover: 0.140%
Break-even: 3.1 days

Slippage unknown: dYdX: live order book, 54 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 dYdX live order book, 54 min ago	40.60 bp	45.6 bp −$46	50.4 bp −$504	116.9 bp −$11.7K	852.2 bp −$426.1K
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	−0.1440%	1h	322.10	−0.229%	$171K	$333	10x	as long as short
dYdX TAO-USDlong	0.0000%	1h	322.84	long leg	$129K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	321.24	−0.496%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.28	−0.172%	$40K	$690K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	321.50	−0.414%	$26.7M	$129.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.10	−0.538%	$14.2M	$51.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.13	−0.528%	$17.6M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.28	−0.482%	$36.2M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	324.34	+0.466%	$47K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	321.71	−0.349%	$87K	$1.0M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	321.35	−0.460%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	321.52	−0.407%	$118K	$584K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	321.45	−0.429%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	322.29	−0.169%	$731	$969K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	321.56	−0.395%	$53K	$292K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	321.79	−0.324%	$177K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0124% / S +0.0144%	1h	321.08	−0.543%	$430K	—	100x	as long as short
Binance TAOUSDT	+0.0154%	4h	321.31	−0.474%	$93.7M	$523.4M	75x	as long as short
edgeX TAOUSDC	+0.0156%	4h	324.58	+0.542%	$43K	$315K	10x	as long as short
MEXC TAO_USDT	+0.0156%	4h	321.54	−0.401%	$105.2M	$149.0M	300x	as long as short
Paradex TAO-USD-PERPshort	+0.0272%	8h	322.46	−0.115%	$15K	$1K	10x
Deribit TAO_USDC-PERPETUAL	+0.0305%	1h	321.49	−0.418%	$15K	$1.9M	25x	as long as short
Aster TAOUSDT	+0.0313%	4h	321.34	−0.463%	$1.3M	$10.8M	50x	as long as short
Bybit TAOUSDT	+0.0366%	4h	321.53	−0.404%	$70.2M	$155.5M	50x	as long as short
BingX TAO-USDT	+0.0382%	4h	321.46	−0.426%	—	$34.3M	—	as long as short
BloFin TAO-USDT	+0.0394%	4h	321.90	−0.290%	$4.7M	$11.1M	100x	as long as short
Bullet TAO-USD	+0.0417%	1h	323.30	+0.144%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0460%	4h	323.74	+0.279%	$552K	$937K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	321.50	−0.414%	$918K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0506%	4h	323.50	+0.205%	$5.7M	$10.1M	—	as long as short
Phoenix TAO	+0.0513%	1h	324.40	+0.485%	$323K	$709K	5x	as long as short
Pacifica TAO	+0.0525%	1h	322.95	+0.034%	$367K	$422K	10x	as long as short
Nado TAO-PERP	+0.0598%	1h	321.72	−0.346%	$804K	$2.2M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0610%	1h	321.33	−0.466%	$319K	$899K	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	322.74	−0.030%	$104K	$384K	5x	as long as short
Hyperliquid TAO	+0.0673%	1h	321.54	−0.401%	$95.1M	$110.1M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	321.51	−0.412%	$370	—	20x	as long as short
01 Exchange TAOUSD	+0.0704%	1h	322.59	−0.076%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.47	−0.113%	$1.5M	$6.9M	50x	as long as short
Lighter TAO	+0.1008%	1h	321.89	−0.293%	$1.5M	$6.6M	5x	as long as short
RISEx TAO/USDC	+0.1077%	1h	322.38	−0.140%	$464K	$652K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1148%	1h	321.66	−0.364%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+1.677%	$24K	$2K	12x	as long as short