Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0124%/8h= −13.5% APRpaid last 24h −0.010%

Price spread now: Phemex 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 Phemex

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	322.61	0.0224	pay 0.0224% / 8h	6h 58m	$15K	$876	10x
Short	Phemex TAOUSDT	322.67	0.0100	get 0.0050% / 4h	2h 58m	$3.2M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$25.96
Price spread: +0.020% → 0.000%: $1.99
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$39.97
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Phemex: 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 Phemex live order book, 5 min ago	23.35 bp	37.0 bp −$37	46.8 bp −$468	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	−0.0241%	1h	318.85	−1.166%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	+0.497%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.55	−0.017%	$51K	$704K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	322.21	−0.123%	$70.9M	$155.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	322.00	−0.188%	$26.9M	$130.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.00	−0.188%	$15.4M	$47.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.02	−0.182%	$17.6M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.77	−0.259%	$36.3M	$56.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.57	−0.011%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.74	+0.042%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	323.02	+0.128%	$117K	$552K	20x	as long as short
Phemex TAOUSDTshort	+0.0100%	4h	322.67	+0.020%	$3.2M	$8.1M	50x
Katana Perps TAO-USD	+0.0115%	8h	322.68	+0.023%	$660	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	323.04	+0.133%	$177K	$998	3x	as long as short
edgeX TAOUSDC	+0.0156%	4h	323.71	+0.342%	$43K	$323K	10x	as long as short
MEXC TAO_USDT	+0.0158%	4h	322.21	−0.123%	$106.5M	$148.9M	300x	as long as short
BingX TAO-USDT	+0.0158%	4h	322.05	−0.172%	—	$38.9M	—	as long as short
Binance TAOUSDT	+0.0161%	4h	322.42	−0.058%	$94.9M	$519.7M	75x	as long as short
Paradex TAO-USD-PERPlong	+0.0224%	8h	322.61	long leg	$15K	$876	10x
Orderly PERP_TAO_USDC	+0.0246%	4h	322.17	−0.135%	$54K	$273K	10x	as long as short
Extended TAO-USD	+0.0280%	1h	322.54	−0.021%	$979K	$2.2M	25x	as long as short
Pacifica TAO	+0.0301%	1h	322.78	+0.054%	$376K	$439K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0304%	4h	323.87	+0.390%	$550K	$826K	10x	as long as short
Aster TAOUSDT	+0.0325%	4h	322.21	−0.123%	$1.3M	$11.2M	50x	as long as short
Arcus TAO-USD	+0.0364%	1h	323.00	+0.122%	$102K	$329K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0369% / S −0.0109%	1h	323.08	+0.146%	$383K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0384%	1h	322.87	+0.082%	$20K	$1.9M	25x	as long as short
ApeX Omni TAOUSDT	+0.0392%	1h	323.88	+0.395%	$46K	$256K	50x	as long as short
BloFin TAO-USDT	+0.0398%	4h	323.12	+0.159%	$4.8M	$11.0M	100x	as long as short
Variational Omni TAO	+0.0522%	4h	323.77	+0.359%	$5.7M	$9.8M	—	as long as short
Bullet TAO-USD	+0.0524%	1h	322.42	−0.058%	$12K	$17K	20x	as long as short
Backpack TAO_USDC_PERP	+0.0571%	1h	322.97	+0.113%	$301K	$1.1M	10x	as long as short
Phoenix TAO	+0.0578%	1h	324.30	+0.525%	$326K	$705K	5x	as long as short
Nado TAO-PERP	+0.0597%	1h	322.20	−0.127%	$738K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0673%	1h	323.10	+0.153%	$6.3M	$21.0M	50x	as long as short
dYdX TAO-USD	+0.0679%	1h	322.41	−0.061%	$272K	$232K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	323.21	+0.188%	$372	—	20x	as long as short
RISEx TAO/USDC	+0.0701%	1h	322.57	−0.012%	$444K	$714K	5x	as long as short
Lighter TAO	+0.0736%	1h	322.86	+0.079%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	323.00	+0.122%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	323.45	+0.262%	$1.1M	$7.5M	50x	as long as short
Hyperliquid TAO	+0.1103%	1h	322.38	−0.070%	$97.4M	$110.0M	5x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	327.96	+1.660%	$24K	$2K	12x	as long as short