Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0057%/8h= −6.3% APRpaid last 24h −0.018%

Price spread now: BingX against Paradex−0.222%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on BingX

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 −$2 a day on $10k at the current rate, and BingX is 0.222% cheaper against Paradex than usual: you would sell low and buy high (−$22 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	Paradex TAO-USD-PERP	323.81	0.0219	pay 0.0219% / 8h	7h 03m	$15K	$876	10x
Short	BingX TAO-USDT	323.09	0.0162	get 0.0081% / 4h	3h 03m	—	$38.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Paradex. 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 ParadexbpFee BingXbpOrdersPrice spread, now −0.222%Rate

Funding earned: −$12.05
Price spread: −0.222% → 0.000%: −$22.16
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$48.21
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; BingX: live order book, 10 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell BingX live order book, 10 min ago	0.94 bp	7.3 bp −$7	12.2 bp −$122	20.7 bp −$2,073	51.0 bp −$25.5K

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	−0.0241%	1h	318.85	−1.533%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	321.07	−0.845%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.56	−0.385%	$51K	$700K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	322.53	−0.395%	$71.0M	$154.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	322.30	−0.466%	$27.0M	$130.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.00	−0.249%	$15.4M	$50.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.31	−0.154%	$17.6M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.88	−0.595%	$36.3M	$56.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.30	−0.466%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	321.01	−0.864%	$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	321.57	−0.691%	$117K	$547K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.90	−0.898%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	322.55	−0.388%	$660	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	321.05	−0.850%	$176K	$998	3x	as long as short
MEXC TAO_USDT	+0.0156%	4h	322.96	−0.262%	$105.3M	$156.1M	300x	as long as short
Binance TAOUSDT	+0.0156%	4h	322.58	−0.379%	$94.4M	$518.3M	75x	as long as short
BingX TAO-USDTshort	+0.0162%	4h	323.09	−0.222%	—	$38.9M	—
edgeX TAOUSDC	+0.0164%	4h	321.70	−0.652%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERPlong	+0.0219%	8h	323.81	long leg	$15K	$876	10x
Orderly PERP_TAO_USDC	+0.0241%	4h	321.12	−0.830%	$55K	$272K	10x	as long as short
Bullet TAO-USD	+0.0271%	1h	322.10	−0.528%	$13K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0284%	4h	321.52	−0.707%	$548K	$825K	10x	as long as short
Extended TAO-USD	+0.0304%	1h	322.87	−0.290%	$977K	$2.2M	25x	as long as short
ApeX Omni TAOUSDT	+0.0306%	1h	321.60	−0.682%	$45K	$256K	50x	as long as short
Aster TAOUSDT	+0.0322%	4h	322.60	−0.374%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	323.46	−0.107%	$376K	$439K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0368% / S −0.0109%	1h	321.09	−0.839%	$381K	—	100x	as long as short
BloFin TAO-USDT	+0.0399%	4h	321.75	−0.635%	$4.8M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0403%	1h	322.29	−0.468%	$759K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0404%	1h	323.16	−0.200%	$102K	$331K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0441%	1h	321.18	−0.812%	$20K	$1.9M	25x	as long as short
dYdX TAO-USD	+0.0524%	1h	323.45	−0.112%	$130K	$87K	5x	as long as short
Variational Omni TAO	+0.0551%	4h	321.24	−0.792%	$5.7M	$9.8M	—	as long as short
Lighter TAO	+0.0568%	1h	323.61	−0.060%	$1.6M	$6.8M	5x	as long as short
Phoenix TAO	+0.0578%	1h	321.70	−0.651%	$324K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	323.37	−0.135%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0661%	1h	322.33	−0.456%	$96.7M	$109.3M	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	322.15	−0.511%	$370	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0704%	1h	321.67	−0.660%	$319K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0775%	1h	321.35	−0.758%	$6.3M	$21.0M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	322.86	−0.293%	$440K	$711K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.23	−0.487%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	−0.367%	$23K	$2K	12x	as long as short