Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0272%/8h= −29.7% APRpaid last 24h −0.007%

Price spread now: dYdX against Paradex+0.115%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 dYdX

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

The price spread pays, funding is against you. dYdX is 0.115% dearer against Paradex than usual: you sell high and buy low (spread +0.115% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	322.46	0.0272	pay 0.0272% / 8h	1h 55m	$15K	$1K	10x
Short	dYdX TAO-USD	322.84	0	get 0.0000% / 1h	55m 14s	$129K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$57.03
Price spread: +0.115% → 0.000%: $11.54
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$59.49
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; dYdX: live order book, 54 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 dYdX live order book, 54 min ago	40.60 bp	45.6 bp −$46	49.0 bp −$490	165.2 bp −$16.5K	1068.5 bp −$534.2K

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	−0.1440%	1h	322.10	−0.114%	$171K	$333	10x	as long as short
dYdX TAO-USDshort	0.0000%	1h	322.84	+0.115%	$129K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	321.24	−0.381%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.28	−0.057%	$40K	$690K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	321.40	−0.330%	$26.7M	$129.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.00	−0.454%	$14.2M	$51.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.76	−0.218%	$17.6M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.42	−0.324%	$36.2M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	324.34	+0.582%	$47K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	321.71	−0.234%	$87K	$1.0M	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	321.35	−0.345%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	321.52	−0.293%	$118K	$584K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	321.45	−0.314%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	322.29	−0.054%	$731	$969K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	321.56	−0.280%	$53K	$292K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	321.79	−0.209%	$177K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0124% / S +0.0144%	1h	321.08	−0.428%	$430K	—	100x	as long as short
Binance TAOUSDT	+0.0154%	4h	321.81	−0.203%	$93.9M	$523.3M	75x	as long as short
edgeX TAOUSDC	+0.0156%	4h	324.58	+0.658%	$43K	$315K	10x	as long as short
MEXC TAO_USDT	+0.0156%	4h	321.64	−0.255%	$105.2M	$148.9M	300x	as long as short
Paradex TAO-USD-PERPlong	+0.0272%	8h	322.46	long leg	$15K	$1K	10x
Deribit TAO_USDC-PERPETUAL	+0.0305%	1h	321.49	−0.303%	$15K	$1.9M	25x	as long as short
Aster TAOUSDT	+0.0313%	4h	321.74	−0.225%	$1.3M	$10.8M	50x	as long as short
Bybit TAOUSDT	+0.0366%	4h	321.74	−0.224%	$70.2M	$155.5M	50x	as long as short
BingX TAO-USDT	+0.0382%	4h	321.36	−0.342%	—	$34.3M	—	as long as short
BloFin TAO-USDT	+0.0394%	4h	321.90	−0.175%	$4.7M	$11.1M	100x	as long as short
Bullet TAO-USD	+0.0417%	1h	323.30	+0.260%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0460%	4h	323.74	+0.395%	$552K	$937K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	321.50	−0.300%	$918K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0506%	4h	323.50	+0.321%	$5.7M	$10.1M	—	as long as short
Phoenix TAO	+0.0513%	1h	324.40	+0.601%	$323K	$709K	5x	as long as short
Pacifica TAO	+0.0525%	1h	322.95	+0.150%	$367K	$422K	10x	as long as short
Nado TAO-PERP	+0.0598%	1h	321.72	−0.231%	$804K	$2.2M	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	322.74	+0.086%	$104K	$384K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0669%	1h	323.25	+0.244%	$322K	$898K	10x	as long as short
Hyperliquid TAO	+0.0677%	1h	321.70	−0.237%	$95.1M	$110.0M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	321.51	−0.297%	$370	—	20x	as long as short
01 Exchange TAOUSD	+0.0704%	1h	322.59	+0.039%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.47	+0.002%	$1.5M	$6.9M	50x	as long as short
Lighter TAO	+0.1008%	1h	321.89	−0.177%	$1.5M	$6.6M	5x	as long as short
RISEx TAO/USDC	+0.1077%	1h	322.38	−0.025%	$464K	$652K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1148%	1h	321.66	−0.249%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+1.795%	$24K	$2K	12x	as long as short