Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.108%

Price spread now: Lighter against Paradex+0.020%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.020% dearer against Paradex than usual: you sell high and buy low: +$2 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	315.51	0.0165	pay 0.0165% / 8h	4h 23m	$14K	$1K	10x
Short	Lighter TAO	315.57	0.0312	get 0.0039% / 1h	23m 17s	$1.5M	$6.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.020%Rate

Funding earned: $30.83
Price spread: +0.020% → 0.000%: $2.01
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $28.84
Costs to cover: 0.040%
Break-even: 0.5 days

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 5 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 Lighter live order book, 5 min ago	2.54 bp	6.5 bp −$7	24.7 bp −$247	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
dYdX TAO-USD	0.0000%	1h	315.28	−0.072%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.63	+0.037%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.83	+0.102%	$5.6M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.50	−0.003%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.16	−0.111%	$645	$795K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.86	+0.113%	$91.2M	$494.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.92	+0.130%	$68.2M	$148.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.90	+0.124%	$26.0M	$120.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.50	−0.003%	$13.0M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.84	+0.105%	$110.8M	$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	315.72	+0.067%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.70	+0.060%	$35.3M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.87	+0.114%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.91	−0.191%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.20	−0.416%	$520K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.16	−0.111%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.58	+0.022%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.82	+0.097%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.81	+0.095%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.89	−0.196%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.33	−0.057%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.89	+0.120%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	315.81	+0.095%	$57K	$268K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0147% / S +0.0125%	1h	315.63	+0.037%	$420K	—	100x	as long as short
Paradex TAO-USD-PERPlong	+0.0165%	8h	315.51	long leg	$14K	$1K	10x
Nado TAO-PERP	+0.0189%	1h	315.86	+0.110%	$803K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0199%	4h	315.47	−0.012%	$1.2M	$10.3M	50x	as long as short
Extended TAO-USD	+0.0208%	1h	315.89	+0.121%	$922K	$2.4M	25x	as long as short
Hyperliquid TAO	+0.0256%	1h	315.94	+0.136%	$93.0M	$106.4M	5x	as long as short
01 Exchange TAOUSD	+0.0296%	1h	315.70	+0.060%	$3K	$4K	5x	as long as short
Lighter TAOshort	+0.0312%	1h	315.57	+0.020%	$1.5M	$6.5M	5x
BloFin TAO-USDT	+0.0340%	4h	314.99	−0.165%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.65	+0.044%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0349%	1h	315.58	+0.022%	$316K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.51	−0.001%	$360K	$412K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0419%	1h	315.89	+0.121%	$31K	$1.7M	25x	as long as short
Variational Omni TAO	+0.0526%	4h	314.38	−0.359%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.50	−0.003%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.66	+0.049%	$363	—	20x	as long as short
Bulk TAO-USD	+0.0933%	1h	314.34	−0.371%	$167K	$2K	10x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.43	−0.025%	$436K	$650K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.02	+0.162%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.059%	$23K	$2K	12x	as long as short