Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.2407%/8h= +263.5% APRpaid last 24h −0.330%

Price spread now: Bulk against Paradex−2.444%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 Bulk

What this pair did over the last

the charts below follow

Funding, last 3 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. Bulk is 2.444% cheaper against Paradex than usual: you would sell low and buy high (spread −2.444% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$244 on $10k: about 3.4 days of funding at the current rate (+$72 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	316.68	0.0345	pay 0.0345% / 8h	6h 23m	$14K	$1K	10x
Short	Bulk TAO-USD	308.95	0.2752	get 0.0344% / 1h	23m 33s	$164K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −2.444%Rate

Funding earned: $505.41
Price spread: −2.444% → 0.000%: −$244.41
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $250
Costs to cover: 0.110%
Break-even: 3.5 days

Slippage unknown: Paradex: no order-book sample; Bulk: live order book, 45 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 Bulk live order book, 45 min ago	0.16 bp	5.5 bp −$6	7.8 bp −$78	8.1 bp −$805	18.3 bp −$9,130

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 42 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
dYdX TAO-USD	0.0000%	1h	316.42	−0.083%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.48	−0.380%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.64	−0.014%	$40K	$631K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.69	0.000%	$90.8M	$465.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.70	+0.005%	$26.1M	$113.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.30	−0.122%	$12.9M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.49	−0.062%	$110.1M	$138.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.82	+0.043%	$18.1M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.50	−0.058%	$35.3M	$53.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.28	−0.759%	$35K	$298K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	314.74	−0.614%	$47K	$252K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.73	−0.302%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.58	−0.349%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.40	−0.406%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.62	−0.336%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.11	−0.180%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0120%	8h	316.54	−0.046%	$673	$707K	5x	as long as short
Polymarket Perps TAO-USD	+0.0136%	1h	316.65	−0.011%	$82K	$680K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0148%	4h	314.81	−0.591%	$519K	$966K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0167%	1h	315.85	−0.264%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0091%	1h	315.46	−0.388%	$441K	—	100x	as long as short
Bullet TAO-USD	+0.0231%	1h	315.89	−0.251%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0246%	4h	316.43	−0.081%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	316.68	−0.001%	$372K	$381K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	316.93	+0.077%	$100K	$529K	5x	as long as short
Paradex TAO-USD-PERPlong	+0.0345%	8h	316.68	long leg	$14K	$1K	10x
Deribit TAO_USDC-PERPETUAL	+0.0458%	1h	315.68	−0.318%	$23K	$1.5M	25x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	312.28	−1.391%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0501%	1h	316.67	−0.005%	$789K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	315.90	−0.248%	$330K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	317.17	+0.153%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.70	+0.005%	$364	—	20x	as long as short
BingX TAO-USDT	+0.0760%	4h	316.51	−0.055%	—	$30.9M	—	as long as short
Variational Omni TAO	+0.0822%	4h	315.55	−0.357%	$5.5M	$8.9M	—	as long as short
Bybit TAOUSDT	+0.0823%	4h	316.85	+0.052%	$66.5M	$137.8M	50x	as long as short
Extended TAO-USD	+0.0888%	1h	316.55	−0.043%	$909K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0910%	1h	316.17	−0.163%	$319K	$814K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.20	−0.153%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	316.61	−0.023%	$452K	$631K	5x	as long as short
Hyperliquid TAO	+0.1279%	1h	317.13	+0.141%	$100.5M	$94.8M	5x	as long as short
Lighter TAO	+0.1424%	1h	317.12	+0.136%	$1.6M	$6.1M	5x	as long as short
Bulk TAO-USDshort	+0.2752%	1h	308.95	−2.444%	$164K	$40K	10x