Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0270%/8h= −29.6% APRpaid last 24h −0.128%

Price spread now: Paradex against Lighter+0.128%7-day average — · you sell dearer than you buy

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

Long on Lighter 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 airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.128% dearer against Lighter than usual: you sell high and buy low (spread +0.128% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	315.78	0.0512	pay 0.0064% / 1h	20m 30s	$1.6M	$6.9M	5x
Short	Paradex TAO-USD-PERP	316.19	0.0242	get 0.0242% / 8h	20m 30s	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Lighter. 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 LighterbpFee ParadexbpOrdersPrice spread, now +0.128%Rate

Funding earned: −$56.8
Price spread: +0.128% → 0.000%: $12.83
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$47.97
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Lighter: live order book, 13 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 Lighter live order book, 13 min ago	1.61 bp	9.8 bp −$10	30.0 bp −$300	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	315.22	−0.178%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0066%	1h	315.36	−0.134%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.40	+0.195%	$45K	$714K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	+0.100%	$26.3M	$130.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.80	+0.005%	$14.6M	$51.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.05	+0.084%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.08	+0.094%	$35.5M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.06	+0.087%	$45K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.51	−0.087%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.34	−0.141%	$2K	$2.0M	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	315.16	−0.198%	$115K	$603K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0105% / S +0.0138%	1h	315.09	−0.221%	$402K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	316.13	+0.110%	$830	$1.1M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	315.57	−0.066%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0162%	4h	315.32	−0.147%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0165%	4h	315.99	+0.064%	$42K	$319K	10x	as long as short
MEXC TAO_USDT	+0.0170%	4h	315.75	−0.011%	$102.6M	$152.3M	300x	as long as short
Binance TAOUSDT	+0.0171%	4h	316.31	+0.166%	$91.6M	$530.8M	75x	as long as short
Paradex TAO-USD-PERPshort	+0.0242%	8h	316.19	+0.128%	$14K	$1K	10x
BingX TAO-USDT	+0.0250%	4h	316.09	+0.097%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0254%	4h	316.41	+0.198%	$69.3M	$156.8M	50x	as long as short
Bullet TAO-USD	+0.0268%	1h	315.76	−0.008%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0302%	4h	315.30	−0.153%	$536K	$921K	10x	as long as short
Pacifica TAO	+0.0313%	1h	315.72	−0.020%	$370K	$462K	10x	as long as short
Aster TAOUSDT	+0.0334%	4h	316.29	+0.159%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0352%	1h	316.15	+0.117%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0411%	4h	315.72	−0.020%	$4.7M	$10.9M	100x	as long as short
Phemex TAOUSDT	+0.0449%	4h	315.50	−0.090%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0459%	1h	316.15	+0.117%	$780K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	316.63	+0.268%	$100K	$384K	5x	as long as short
Lighter TAOlong	+0.0512%	1h	315.78	long leg	$1.6M	$6.9M	5x
Variational Omni TAO	+0.0557%	4h	315.52	−0.084%	$5.5M	$10.2M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0569%	1h	315.38	−0.129%	$15K	$1.9M	25x	as long as short
Phoenix TAO	+0.0629%	1h	316.40	+0.195%	$318K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0659%	1h	315.56	−0.071%	$292K	$904K	10x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	316.78	+0.315%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	315.42	−0.117%	$363	—	20x	as long as short
Hyperliquid TAO	+0.0711%	1h	315.82	+0.011%	$93.3M	$110.4M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	316.36	+0.181%	$447K	$658K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0840%	1h	315.60	−0.059%	$5.9M	$21.7M	50x	as long as short
Bulk TAO-USD	+0.0951%	1h	316.68	+0.284%	$168K	$0	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	316.41	+0.198%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	318.80	+0.955%	$23K	$2K	12x	as long as short