Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h +0.108%

Price spread now: Kraken Futures against Paradex+0.374%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 Kraken Futures

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. Kraken Futures is 0.374% dearer against Paradex than usual: you sell high and buy low (spread +0.374% now, against zero (this spread has no 7-day history yet)): +$37 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	317.44	0.0351	pay 0.0351% / 8h	5h 55m	$14K	$1K	10x
Short	Kraken Futures PF_TAOUSD	318.63	0.0246	get 0.0031% / 1h	55m 22s	$5.6M	$20.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.374%Rate

Funding earned: −$22.04
Price spread: +0.374% → 0.000%: $37.43
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1.39
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Kraken Futures: live order book, 4 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 Kraken Futures live order book, 4 min ago	9.64 bp	21.4 bp −$21	40.6 bp −$406	122.9 bp −$12.3K	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 42 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	−0.2257%	1h	317.17	−0.084%	$168K	$40K	10x	as long as short
ApeX Omni TAOUSDT	−0.0750%	1h	314.06	−1.064%	$47K	$253K	50x	as long as short
dYdX TAO-USD	0.0000%	1h	317.50	+0.019%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.70	−0.231%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.32	−0.037%	$45K	$645K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.05	−0.122%	$91.6M	$467.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.90	−0.169%	$26.2M	$114.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.80	−0.201%	$13.0M	$49.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.06	−0.119%	$104.3M	$137.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.31	−0.040%	$17.9M	$30.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	316.85	−0.185%	$35.4M	$53.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.73	−0.852%	$35K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.10	−0.106%	$78K	$728K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.94	−0.157%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.34	+0.284%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.68	+0.392%	$131K	$474K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.21	+0.243%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.92	+0.467%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	317.28	−0.049%	$674	$732K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0165% / S +0.0104%	1h	316.67	−0.242%	$430K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0190%	4h	316.25	−0.374%	$526K	$946K	10x	as long as short
Kraken Futures PF_TAOUSDshort	+0.0246%	1h	318.63	+0.374%	$5.6M	$20.5M	50x
Aster TAOUSDT	+0.0290%	4h	317.25	−0.059%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0326%	1h	317.12	−0.100%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERPlong	+0.0351%	8h	317.44	long leg	$14K	$1K	10x
Pacifica TAO	+0.0448%	1h	317.71	+0.086%	$376K	$393K	10x	as long as short
Arcus TAO-USD	+0.0509%	1h	317.73	+0.092%	$100K	$489K	5x	as long as short
Phoenix TAO	+0.0588%	1h	316.10	−0.421%	$332K	$707K	5x	as long as short
Nado TAO-PERP	+0.0609%	1h	316.92	−0.164%	$763K	$2.1M	10x	as long as short
BingX TAO-USDT	+0.0686%	4h	317.00	−0.138%	—	$30.3M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.96	−0.150%	$365	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0729%	1h	318.91	+0.464%	$14K	$1.6M	25x	as long as short
Bybit TAOUSDT	+0.0745%	4h	317.09	−0.109%	$67.3M	$138.3M	50x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	317.59	+0.048%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0865%	4h	319.02	+0.499%	$6.0M	$9.6M	—	as long as short
Backpack TAO_USDC_PERP	+0.0871%	1h	318.65	+0.382%	$322K	$802K	10x	as long as short
Extended TAO-USD	+0.0904%	1h	317.28	−0.049%	$900K	$2.3M	25x	as long as short
Lighter TAO	+0.1008%	1h	317.86	+0.132%	$1.6M	$6.1M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.28	+0.581%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	317.39	−0.016%	$449K	$626K	5x	as long as short
Hyperliquid TAO	+0.1374%	1h	317.39	−0.015%	$100.3M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.103%	$23K	$2K	12x	as long as short