Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0277%/8h= +30.4% APRpaid last 24h −0.011%

Price spread now: Bybit against Paradex+0.349%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bybit

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 for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bybit is 0.349% dearer against Paradex than usual: you sell high and buy low: +$35 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	323.12	0.0319	pay 0.0319% / 8h	5h 34m	$15K	$1K	10x
Short	Bybit TAOUSDT	324.25	0.0596	get 0.0298% / 4h	1h 34m	$71.4M	$142.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.349%Rate

Funding earned: $58.22
Price spread: +0.349% → 0.000%: $34.91
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $78.13
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Bybit: live order book, 5 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 Bybit live order book, 5 min ago	0.94 bp	11.4 bp −$11	19.9 bp −$199	39.8 bp −$3,981	doesn't fit

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	−0.5583%	1h	316.49	−2.052%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	322.39	−0.227%	$129K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	324.11	+0.305%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	323.70	+0.179%	$35K	$671K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	324.11	+0.307%	$94.5M	$476.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	324.10	+0.303%	$26.6M	$119.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.70	−0.131%	$13.2M	$49.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	324.19	+0.331%	$110.4M	$140.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.15	+0.318%	$17.9M	$30.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	324.14	+0.315%	$36.2M	$54.3M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	320.56	−0.792%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	324.04	+0.284%	$88K	$789K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.81	+0.213%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	323.50	+0.117%	$131K	$480K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.69	+0.176%	$3.5M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	323.46	+0.103%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0108%	4h	323.39	+0.083%	$59K	$281K	10x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	323.18	+0.018%	$1K	$765K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0162% / S +0.0106%	1h	323.94	+0.254%	$440K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0242%	1h	324.11	+0.304%	$5.7M	$20.6M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0248%	4h	320.95	−0.673%	$534K	$963K	10x	as long as short
Bullet TAO-USD	+0.0312%	1h	324.31	+0.368%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERPlong	+0.0319%	8h	323.12	long leg	$15K	$1K	10x
BloFin TAO-USDT	+0.0340%	4h	323.97	+0.262%	$4.6M	$10.9M	100x	as long as short
Aster TAOUSDT	+0.0371%	4h	323.75	+0.194%	$1.2M	$9.6M	50x	as long as short
Pacifica TAO	+0.0448%	1h	323.35	+0.071%	$381K	$396K	10x	as long as short
Phoenix TAO	+0.0504%	1h	320.50	−0.811%	$335K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	323.32	+0.061%	$101K	$489K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0523%	1h	323.31	+0.057%	$33K	$1.6M	25x	as long as short
Nado TAO-PERP	+0.0531%	1h	324.00	+0.271%	$793K	$2.2M	10x	as long as short
Bybit TAOUSDTshort	+0.0596%	4h	324.25	+0.349%	$71.4M	$142.6M	50x
BingX TAO-USDT	+0.0608%	4h	324.29	+0.361%	—	$30.4M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	324.18	+0.327%	$373	—	20x	as long as short
ApeX Omni TAOUSDT	+0.0733%	1h	320.61	−0.777%	$47K	$253K	50x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	323.87	+0.231%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0866%	4h	320.39	−0.845%	$5.9M	$9.7M	—	as long as short
Lighter TAO	+0.0888%	1h	323.23	+0.033%	$1.6M	$6.3M	5x	as long as short
Extended TAO-USD	+0.0904%	1h	323.08	−0.013%	$949K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	325.96	+0.878%	$1.5M	$6.7M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1036%	1h	324.50	+0.426%	$446K	$860K	10x	as long as short
RISEx TAO/USDC	+0.1159%	1h	323.26	+0.043%	$458K	$628K	5x	as long as short
Hyperliquid TAO	+0.1325%	1h	324.55	+0.442%	$101.9M	$98.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	323.37	+0.077%	$24K	$2K	12x	as long as short