Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1645%/8h= +180.1% APRpaid last 24h +0.186%

Price spread now: Hyperliquid against Paradex+0.127%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 Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$49 a day on $10k at the current rate, and Hyperliquid is 0.127% dearer against Paradex than usual: you sell high and buy low: +$13 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	316.48	0.0233	pay 0.0233% / 8h	7h 14m	$14K	$1K	10x
Short	Hyperliquid TAO	316.88	0.1878	get 0.0235% / 1h	14m 55s	$101.5M	$91.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.127%Rate

Funding earned: $345.48
Price spread: +0.127% → 0.000%: $12.66
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $345.14
Costs to cover: 0.130%
Break-even: 0.0 days

Slippage unknown: Paradex: no order-book sample; Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago	1.72 bp	9.0 bp −$9	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	−0.1821%	1h	318.67	+0.692%	$169K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.95	−0.167%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.43	−0.331%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.03	−0.142%	$43K	$597K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.13	−0.109%	$90.7M	$450.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	−0.120%	$25.7M	$108.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.00	−0.151%	$12.8M	$51.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.19	−0.091%	$109.6M	$136.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.01	−0.148%	$18.0M	$29.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.97	−0.161%	$35.1M	$51.2M	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	317.20	+0.229%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.85	+0.116%	$525K	$958K	10x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.97	−0.160%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.86	−0.196%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.99	−0.155%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.19	−0.091%	$126K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.23	−0.079%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.39	−0.030%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	316.10	−0.120%	$2K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0161%	1h	315.95	−0.167%	$17K	$1.5M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0096%	1h	315.56	−0.291%	$452K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	316.43	−0.016%	$375K	$375K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	316.45	−0.009%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0203%	4h	315.84	−0.202%	$1.2M	$8.8M	50x	as long as short
Paradex TAO-USD-PERPlong	+0.0233%	8h	316.48	long leg	$14K	$1K	10x
ApeX Omni TAOUSDT	+0.0254%	1h	317.11	+0.199%	$49K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0269%	1h	316.31	−0.054%	$92K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	−0.151%	$4.5M	$10.7M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0485%	1h	316.09	−0.122%	$5.7M	$20.3M	50x	as long as short
Variational Omni TAO	+0.0516%	4h	316.67	+0.059%	$5.5M	$8.7M	—	as long as short
Phoenix TAO	+0.0525%	1h	318.00	+0.480%	$333K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	316.04	−0.139%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.77	+0.408%	$23K	$802	12x	as long as short
BingX TAO-USDT	+0.0596%	4h	317.00	+0.164%	—	$30.5M	—	as long as short
Bybit TAOUSDT	+0.0660%	4h	316.41	−0.022%	$65.1M	$133.4M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	316.13	−0.110%	$364	—	20x	as long as short
Nado TAO-PERP	+0.0782%	1h	316.05	−0.136%	$878K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0808%	1h	316.91	+0.136%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	316.73	+0.079%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1128%	1h	316.11	−0.116%	$886K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	316.10	−0.120%	$418K	$593K	5x	as long as short
Lighter TAO	+0.1432%	1h	316.64	+0.050%	$1.6M	$6.0M	5x	as long as short
Hyperliquid TAOshort	+0.1878%	1h	316.88	+0.127%	$101.5M	$91.8M	5x