Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h −0.031%

Price spread now: GRVT against Paradex−0.392%51s7-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 GRVT

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 · GRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and GRVT is 0.392% cheaper against Paradex than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	317.05	0.0237	pay 0.0237% / 8h	7h 06m	$14K	$1K	10x
Short	GRVT TAO_USDT_Perp	315.81	0.0100	get 0.0050% / 4h	3h 06m	$523K	$958K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.392%Rate

Funding earned: −$28.78
Price spread: −0.392% → 0.000%: −$39.2
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$80.98
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; GRVT: live order book, 1 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 GRVT live order book, 1 min ago	1.42 bp	11.6 bp −$12	25.2 bp −$252	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	−0.1228%	1h	316.14	−0.288%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.00	−0.017%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.76	−0.091%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.20	+0.046%	$43K	$603K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.15	+0.031%	$90.9M	$450.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.20	+0.046%	$25.8M	$109.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.00	−0.017%	$12.9M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.07	+0.005%	$99.7M	$136.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.17	+0.037%	$18.0M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.88	−0.055%	$35.2M	$51.5M	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	316.12	−0.295%	$40K	$293K	10x	as long as short
GRVT TAO_USDT_Perpshort	+0.0100%	4h	315.81	−0.392%	$523K	$958K	10x
Orderly PERP_TAO_USDC	+0.0100%	4h	317.90	+0.267%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.70	−0.111%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.76	+0.223%	$127K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.76	+0.223%	$3.4M	$7.8M	50x	as long as short
Bullet TAO-USD	+0.0102%	1h	316.93	−0.038%	$12K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.42	+0.117%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0124%	8h	317.07	+0.005%	$1K	$644K	5x	as long as short
ApeX Omni TAOUSDT	+0.0154%	1h	316.14	−0.288%	$48K	$267K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0101%	1h	316.66	−0.123%	$449K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	317.39	+0.106%	$376K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	317.39	+0.106%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0207%	4h	317.07	+0.005%	$1.3M	$8.8M	50x	as long as short
Paradex TAO-USD-PERPlong	+0.0237%	8h	317.05	long leg	$14K	$1K	10x
Polymarket Perps TAO-USD	+0.0267%	1h	317.17	+0.037%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0292%	1h	317.77	+0.226%	$17K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.23	+0.371%	$4.5M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0482%	1h	317.90	+0.266%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	316.20	−0.269%	$331K	$624K	5x	as long as short
Variational Omni TAO	+0.0546%	4h	316.94	−0.035%	$5.5M	$8.7M	—	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.25	+0.062%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	316.59	−0.146%	$23K	$902	12x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.81	−0.076%	$364	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	317.10	+0.015%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0705%	4h	317.36	+0.097%	$65.3M	$133.5M	50x	as long as short
Nado TAO-PERP	+0.0749%	1h	317.24	+0.058%	$873K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0805%	1h	318.28	+0.387%	$322K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.23	+0.056%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1112%	1h	316.89	−0.050%	$884K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	317.24	+0.057%	$421K	$593K	5x	as long as short
Lighter TAO	+0.1424%	1h	317.65	+0.188%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1785%	1h	317.61	+0.176%	$101.6M	$91.6M	5x	as long as short