Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0357%/8h= +39.1% APRpaid last 24h +0.656%

Price spread now: Injective against Paradex−0.134%7-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 Injective

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

Funding pays, the price is against you. Injective is 0.134% cheaper against Paradex than usual: you would sell low and buy high (spread −0.134% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 30 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	318.28	0.0214	pay 0.0214% / 8h	7h 55m	$14K	$1K	10x
Short	Injective TAO/USDC PERP	317.85	0.0571	get 0.0071% / 1h	55m 57s	$23K	$370	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.134%Rate

Funding earned: $75
Price spread: −0.134% → 0.000%: −$13.45
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $57.54
Costs to cover: 0.040%
Break-even: 1.6 days

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

Paradex and Injective: 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	−0.1799%	1h	311.96	−1.985%	$167K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.95	+0.212%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.63	+0.109%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.27	−0.003%	$40K	$576K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	318.51	+0.073%	$1K	$588K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.50	+0.383%	$91.3M	$437.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.30	+0.321%	$25.8M	$106.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.20	+0.290%	$12.9M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.39	+0.349%	$104.9M	$131.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.21	+0.293%	$19.0M	$28.2M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	319.24	+0.302%	$35.7M	$48.7M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	319.13	+0.267%	$42K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	317.42	−0.268%	$531K	$942K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.82	−0.772%	$47K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.66	+0.120%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.75	+0.148%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.15	+0.274%	$127K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.81	+0.167%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	321.37	+0.971%	$176K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0160%	1h	318.76	+0.150%	$24K	$1.5M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	318.44	+0.049%	$454K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.78	+0.158%	$377K	$371K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	318.71	+0.136%	$84K	$545K	5x	as long as short
Aster TAOUSDT	+0.0206%	4h	319.40	+0.354%	$1.1M	$8.1M	50x	as long as short
Paradex TAO-USD-PERPlong	+0.0214%	8h	318.28	long leg	$14K	$1K	10x
Variational Omni TAO	+0.0291%	4h	319.01	+0.231%	$5.5M	$8.6M	—	as long as short
Bullet TAO-USD	+0.0315%	1h	318.58	+0.095%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	320.00	+0.541%	$4.4M	$10.8M	100x	as long as short
Polymarket Perps TAO-USD	+0.0380%	1h	318.50	+0.070%	$114K	$616K	5x	as long as short
BingX TAO-USDT	+0.0398%	4h	319.50	+0.384%	—	$30.7M	—	as long as short
Kraken Futures PF_TAOUSD	+0.0481%	1h	319.04	+0.239%	$5.8M	$20.2M	50x	as long as short
Phoenix TAO	+0.0537%	1h	319.30	+0.321%	$335K	$624K	5x	as long as short
Injective TAO/USDC PERPshort	+0.0571%	1h	317.85	−0.134%	$23K	$370	12x
Reya TAORUSDPERP	+0.0695%	1h	318.29	+0.003%	$366	—	20x	as long as short
Bybit TAOUSDT	+0.0718%	4h	319.79	+0.475%	$65.6M	$129.8M	50x	as long as short
Nado TAO-PERP	+0.0859%	1h	318.43	+0.046%	$882K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0864%	1h	318.81	+0.167%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0984%	1h	319.38	+0.345%	$927K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.37	+0.343%	$1.5M	$6.1M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1138%	1h	319.54	+0.396%	$316K	$817K	10x	as long as short
RISEx TAO/USDC	+0.1141%	1h	318.47	+0.061%	$419K	$586K	5x	as long as short
Lighter TAO	+0.2032%	1h	319.41	+0.356%	$1.7M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2971%	1h	320.34	+0.648%	$104.6M	$88.3M	5x	as long as short