Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0288%/8h= −31.6% APRpaid last 24h −0.006%

Price spread now: GMX against Paradex+0.052%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 GMX

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

The price spread pays, funding is against you. GMX is 0.052% dearer against Paradex than usual: you sell high and buy low (spread +0.052% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	314.93	0.0163	pay 0.0163% / 8h	4h 21m	$14K	$1K	10x
Short	GMX TAO/USD [WBTC.b-USDC]	315.09	L +0.0147% / S +0.0126%	pay 0.0016% / 1h	21m 47s	$420K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$60.52
Price spread: +0.052% → 0.000%: $5.25
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$71.27
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; GMX: 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 GMX no order-book sample	—	—	—	—	—

Paradex and GMX: 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
dYdX TAO-USD	0.0000%	1h	314.98	+0.017%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.12	+0.062%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.22	+0.094%	$5.5M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.55	+0.198%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.40	+0.150%	$646	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.96	+0.011%	$90.9M	$494.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.95	+0.007%	$68.0M	$148.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	−0.040%	$26.0M	$120.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.00	+0.023%	$12.9M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.95	+0.007%	$110.5M	$144.0M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.92	−0.002%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.80	−0.040%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.22	+0.093%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.91	−0.006%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.20	−0.231%	$520K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.16	+0.074%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.28	+0.112%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.35	+0.133%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.22	+0.093%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.91	−0.005%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.04	+0.036%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.37	+0.141%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	315.30	+0.118%	$57K	$265K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0147% / S +0.0126%	1h	315.09	+0.052%	$420K	—	100x
Paradex TAO-USD-PERPlong	+0.0163%	8h	314.93	long leg	$14K	$1K	10x
Nado TAO-PERP	+0.0194%	1h	315.41	+0.153%	$802K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0195%	4h	315.07	+0.044%	$1.2M	$10.3M	50x	as long as short
Extended TAO-USD	+0.0208%	1h	315.12	+0.062%	$922K	$2.4M	25x	as long as short
Hyperliquid TAO	+0.0257%	1h	315.29	+0.115%	$92.7M	$106.4M	5x	as long as short
01 Exchange TAOUSD	+0.0304%	1h	315.79	+0.274%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0312%	1h	315.22	+0.092%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0329%	1h	315.36	+0.137%	$30K	$1.7M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	+0.341%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.80	+0.277%	$100K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0348%	1h	315.11	+0.058%	$316K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.05	+0.038%	$359K	$412K	10x	as long as short
Variational Omni TAO	+0.0526%	4h	314.38	−0.175%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.182%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.34	+0.131%	$363	—	20x	as long as short
Bulk TAO-USD	+0.0933%	1h	314.34	−0.186%	$167K	$2K	10x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.61	+0.217%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.02	+0.347%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.246%	$23K	$2K	12x	as long as short