Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.010%

Price spread now: Orderly against Paradex−0.171%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 Orderly

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.171% cheaper against Paradex than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	317.17	0.0243	pay 0.0243% / 8h	38m 04s	$14K	$1K	10x
Short	Orderly PERP_TAO_USDC	316.63	0.0149	get 0.0074% / 4h	38m 04s	$52K	$294K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.171%Rate

Funding earned: −$19.75
Price spread: −0.171% → 0.000%: −$17.06
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$46.81
Costs to cover: 0.100%
Break-even: never at this rate

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

Paradex and Orderly: 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.42	−0.238%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0043%	1h	316.84	−0.104%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.69	−0.152%	$44K	$710K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.80	−0.117%	$26.3M	$130.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.40	−0.243%	$14.4M	$51.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.59	−0.183%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.70	−0.148%	$35.6M	$58.0M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.68	−0.155%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.45	−0.227%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.15	−0.322%	$115K	$604K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0107%	8h	316.52	−0.205%	$1K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0107% / S +0.0136%	1h	316.43	−0.232%	$404K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	316.94	−0.074%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDCshort	+0.0149%	4h	316.63	−0.171%	$52K	$294K	10x
MEXC TAO_USDT	+0.0178%	4h	316.61	−0.177%	$99.7M	$151.4M	300x	as long as short
Binance TAOUSDT	+0.0179%	4h	316.68	−0.155%	$91.9M	$530.1M	75x	as long as short
edgeX TAOUSDC	+0.0184%	4h	318.91	+0.549%	$42K	$319K	10x	as long as short
ApeX Omni TAOUSDT	+0.0187%	1h	318.97	+0.567%	$46K	$260K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0235%	1h	316.67	−0.157%	$15K	$1.9M	25x	as long as short
Paradex TAO-USD-PERPlong	+0.0243%	8h	317.17	long leg	$14K	$1K	10x
Bybit TAOUSDT	+0.0277%	4h	316.79	−0.120%	$69.3M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0294%	4h	316.65	−0.164%	—	$37.0M	—	as long as short
Bullet TAO-USD	+0.0295%	1h	316.71	−0.145%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	317.17	0.000%	$372K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.649%	$170K	$0	10x	as long as short
GRVT TAO_USDT_Perp	+0.0332%	4h	318.74	+0.494%	$543K	$918K	10x	as long as short
Aster TAOUSDT	+0.0332%	4h	316.71	−0.145%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0336%	1h	316.66	−0.162%	$903K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0419%	4h	317.29	+0.038%	$4.7M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.00	−0.054%	$102K	$381K	5x	as long as short
Nado TAO-PERP	+0.0515%	1h	316.64	−0.167%	$786K	$2.0M	10x	as long as short
Phemex TAOUSDT	+0.0526%	4h	316.59	−0.183%	$3.2M	$8.2M	50x	as long as short
Variational Omni TAO	+0.0537%	4h	318.96	+0.565%	$5.6M	$10.2M	—	as long as short
Lighter TAO	+0.0576%	1h	316.76	−0.128%	$1.6M	$6.9M	5x	as long as short
Phoenix TAO	+0.0629%	1h	319.50	+0.734%	$318K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0698%	1h	316.67	−0.158%	$292K	$906K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.71	−0.144%	$364	—	20x	as long as short
01 Exchange TAOUSD	+0.0720%	1h	316.79	−0.120%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0746%	1h	316.81	−0.114%	$93.7M	$110.1M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	316.60	−0.179%	$447K	$668K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0837%	1h	316.75	−0.132%	$5.9M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.28	+0.034%	$1.5M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+1.819%	$23K	$2K	12x	as long as short