Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.3432%/8h= −375.8% APRpaid last 24h −0.660%

Price spread now: Paradex against Injective−1.011%7-day average — · you buy dearer than you sell

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

Long on Injective 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 −$103 a day on $10k at the current rate, and Paradex is 1.011% cheaper against Injective than usual: you would sell low and buy high (−$101 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	Injective TAO/USDC PERP	322.94	0.3711	pay 0.0464% / 1h	13m 05s	$23K	$2K	12x
Short	Paradex TAO-USD-PERP	319.67	0.0280	get 0.0280% / 8h	2h 13m	$15K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Injective. 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 InjectivebpFee ParadexbpOrdersPrice spread, now −1.011%Rate

Funding earned: −$720.66
Price spread: −1.011% → 0.000%: −$101.13
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$825.81
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Injective: 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 Injective no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Injective 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 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	−0.0038%	1h	313.74	−2.849%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.97	−1.228%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0033%	1h	318.94	−1.238%	$127K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.60	−1.344%	$26.7M	$125.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.80	−1.282%	$14.2M	$51.6M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.08	−1.195%	$17.6M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.54	−1.362%	$35.9M	$57.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.35	−1.423%	$42K	$317K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.22	−1.152%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.01	−1.217%	$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	318.94	−1.239%	$116K	$565K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.89	−1.254%	$3.2M	$8.1M	50x	as long as short
MEXC TAO_USDT	+0.0104%	4h	319.25	−1.143%	$100.9M	$148.0M	300x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.51	−1.063%	$175K	$998	3x	as long as short
Binance TAOUSDT	+0.0104%	4h	318.88	−1.257%	$91.5M	$513.1M	75x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	319.08	−1.195%	$2K	$945K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	319.23	−1.149%	$53K	$291K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0127% / S +0.0142%	1h	318.93	−1.241%	$427K	—	100x	as long as short
Popdex TAOUSDT	+0.0128%	1h	319.40	−1.096%	$54K	$671K	20x	as long as short
Pacifica TAO	+0.0233%	1h	319.34	−1.116%	$364K	$420K	10x	as long as short
Aster TAOUSDT	+0.0265%	4h	318.99	−1.223%	$1.3M	$10.7M	50x	as long as short
Paradex TAO-USD-PERPshort	+0.0280%	8h	319.67	−1.011%	$15K	$1K	10x
Nado TAO-PERP	+0.0282%	1h	319.46	−1.078%	$803K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0298%	1h	319.35	−1.112%	$6.0M	$21.6M	50x	as long as short
Bullet TAO-USD	+0.0325%	1h	319.38	−1.102%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0344%	4h	319.43	−1.087%	$3.7M	$11.0M	100x	as long as short
Bybit TAOUSDT	+0.0384%	4h	318.91	−1.248%	$69.8M	$153.7M	50x	as long as short
BingX TAO-USDT	+0.0400%	4h	318.84	−1.270%	—	$33.8M	—	as long as short
GRVT TAO_USDT_Perp	+0.0436%	4h	318.55	−1.359%	$545K	$935K	10x	as long as short
Variational Omni TAO	+0.0467%	4h	317.98	−1.535%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	319.72	−0.997%	$103K	$345K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0500%	1h	319.26	−1.138%	$15K	$1.8M	25x	as long as short
ApeX Omni TAOUSDT	+0.0504%	1h	318.01	−1.527%	$45K	$256K	50x	as long as short
Extended TAO-USD	+0.0504%	1h	319.15	−1.173%	$906K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	318.90	−1.251%	$317K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	319.20	−1.157%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	319.73	−0.994%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0807%	1h	319.28	−1.133%	$93.7M	$109.5M	5x	as long as short
Lighter TAO	+0.0816%	1h	319.41	−1.094%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0839%	1h	319.20	−1.158%	$316K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	319.97	−0.920%	$1.5M	$7.0M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	319.34	−1.116%	$461K	$649K	5x	as long as short
Injective TAO/USDC PERPlong	+0.3711%	1h	322.94	long leg	$23K	$2K	12x