Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0524%/8h= +57.4% APRpaid last 24h +0.010%

Price spread now: Deribit against Paradex+0.041%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 Deribit

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 +$16 a day on $10k at the current rate, and Deribit is 0.041% dearer against Paradex than usual: you sell high and buy low: +$4 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	319.60	0.0263	pay 0.0263% / 8h	1h 30m	$14K	$1K	10x
Short	Deribit TAO_USDC-PERPETUAL	319.73	0.0787	get 0.0098% / 1h	30m 43s	$16K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.041%Rate

Funding earned: $110.12
Price spread: +0.041% → 0.000%: $4.14
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $103.27
Costs to cover: 0.110%
Break-even: 0.4 days

Slippage unknown: Paradex: no order-book sample; Deribit: live order book, 3 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 Deribit live order book, 3 min ago	11.24 bp	16.3 bp −$16	doesn't fit	doesn't fit	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	−0.1995%	1h	319.47	−0.039%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.13	−0.146%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	319.23	−0.116%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.86	+0.083%	$42K	$706K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.40	−0.061%	$26.7M	$129.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.40	−0.061%	$14.2M	$51.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.76	+0.051%	$17.9M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.19	−0.127%	$35.9M	$58.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.35	+0.236%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.74	+0.045%	$100K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	319.40	−0.061%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.25	−0.108%	$119K	$590K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	319.76	+0.051%	$1K	$1.0M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0118% / S +0.0149%	1h	319.56	−0.011%	$427K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.75	+0.048%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	319.73	+0.042%	$53K	$292K	10x	as long as short
edgeX TAOUSDC	+0.0161%	4h	320.34	+0.233%	$42K	$318K	10x	as long as short
MEXC TAO_USDT	+0.0164%	4h	319.73	+0.042%	$105.6M	$150.0M	300x	as long as short
Binance TAOUSDT	+0.0170%	4h	319.42	−0.056%	$92.5M	$529.0M	75x	as long as short
Paradex TAO-USD-PERPlong	+0.0263%	8h	319.60	long leg	$14K	$1K	10x
Phemex TAOUSDT	+0.0296%	4h	319.74	+0.045%	$3.3M	$8.1M	50x	as long as short
Aster TAOUSDT	+0.0332%	4h	319.30	−0.093%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0338%	4h	319.44	−0.049%	$69.9M	$156.2M	50x	as long as short
BingX TAO-USDT	+0.0350%	4h	319.67	+0.023%	—	$34.5M	—	as long as short
Bullet TAO-USD	+0.0390%	1h	319.97	+0.117%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0396%	4h	320.22	+0.194%	$545K	$940K	10x	as long as short
BloFin TAO-USDT	+0.0409%	4h	319.67	+0.023%	$4.7M	$11.1M	100x	as long as short
Extended TAO-USD	+0.0464%	1h	319.42	−0.056%	$916K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	319.60	+0.002%	$364K	$423K	10x	as long as short
Variational Omni TAO	+0.0541%	4h	320.05	+0.142%	$5.7M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	319.20	−0.124%	$318K	$709K	5x	as long as short
Nado TAO-PERP	+0.0575%	1h	319.97	+0.116%	$799K	$2.1M	10x	as long as short
Hyperliquid TAO	+0.0621%	1h	319.88	+0.088%	$94.5M	$110.3M	5x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	320.11	+0.161%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.09	+0.155%	$103K	$394K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0695%	1h	319.64	+0.014%	$298K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.77	+0.055%	$368	—	20x	as long as short
Lighter TAO	+0.0784%	1h	319.80	+0.064%	$1.5M	$6.7M	5x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0787%	1h	319.73	+0.041%	$16K	$1.9M	25x
Coinbase International TAO-PERP-INTX	+0.0944%	1h	319.89	+0.092%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	319.75	+0.050%	$458K	$666K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1154%	1h	319.77	+0.056%	$6.0M	$21.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.44	+1.203%	$24K	$2K	12x	as long as short