Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0131%/8h= −14.4% APRpaid last 24h −0.011%

Price spread now: Bullet against Paradex−0.038%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 Bullet

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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bullet is 0.038% cheaper against Paradex than usual: you would sell low and buy high (−$4 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	317.05	0.0365	pay 0.0365% / 8h	6h 03m	$14K	$1K	10x
Short	Bullet TAO-USD	316.93	0.0233	get 0.0029% / 1h	3m 56s	$12K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$27.61
Price spread: −0.038% → 0.000%: −$3.76
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$43.37
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Bullet: 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 Paradex no order-book sample	—	—	—	—	—
Sell Bullet no order-book sample	—	—	—	—	—

Paradex and Bullet: 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
Bulk TAO-USD	−0.0185%	1h	315.28	−0.558%	$167K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.81	−0.077%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.73	−0.101%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.02	−0.009%	$44K	$644K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.48	+0.453%	$91.8M	$466.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.70	+0.521%	$26.3M	$115.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.90	+0.268%	$13.0M	$50.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	318.30	+0.395%	$114.9M	$140.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.47	+0.133%	$18.1M	$30.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.80	+0.237%	$35.5M	$53.4M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.38	−0.212%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.06	+0.003%	$77K	$713K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.98	−0.022%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.81	−0.075%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.22	+0.054%	$130K	$471K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.29	+0.076%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.38	+0.106%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	316.80	−0.079%	$2K	$727K	5x	as long as short
ApeX Omni TAOUSDT	+0.0149%	1h	316.28	−0.243%	$47K	$253K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0166% / S +0.0102%	1h	316.75	−0.095%	$431K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0167%	1h	317.16	+0.036%	$5.6M	$20.5M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0188%	4h	314.95	−0.663%	$519K	$957K	10x	as long as short
Bullet TAO-USDshort	+0.0233%	1h	316.93	−0.038%	$12K	$18K	20x
Aster TAOUSDT	+0.0273%	4h	317.72	+0.210%	$1.2M	$9.3M	50x	as long as short
Pacifica TAO	+0.0285%	1h	317.33	+0.089%	$369K	$396K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	317.43	+0.120%	$100K	$489K	5x	as long as short
Paradex TAO-USD-PERPlong	+0.0365%	8h	317.05	long leg	$14K	$1K	10x
Deribit TAO_USDC-PERPETUAL	+0.0410%	1h	317.08	+0.010%	$15K	$1.6M	25x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	321.23	+1.319%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0533%	1h	317.00	−0.015%	$758K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	315.80	−0.394%	$330K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	317.10	+0.016%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.01	−0.011%	$365	—	20x	as long as short
Bybit TAOUSDT	+0.0757%	4h	318.89	+0.581%	$67.6M	$138.1M	50x	as long as short
BingX TAO-USDT	+0.0768%	4h	318.40	+0.426%	—	$31.0M	—	as long as short
Variational Omni TAO	+0.0857%	4h	316.54	−0.161%	$6.1M	$9.5M	—	as long as short
Extended TAO-USD	+0.0904%	1h	317.92	+0.274%	$901K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0923%	1h	317.81	+0.240%	$321K	$807K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.87	+0.259%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	317.04	−0.004%	$449K	$623K	5x	as long as short
Hyperliquid TAO	+0.1350%	1h	317.88	+0.262%	$100.0M	$97.1M	5x	as long as short
Lighter TAO	+0.1376%	1h	318.03	+0.309%	$1.6M	$6.1M	5x	as long as short