Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0167%/8h= −18.2% APRpaid last 24h −0.013%

Price spread now: Popdex against Paradex+0.041%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 Popdex

What this pair did over the last

the charts below follow

Funding, last 3 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. Popdex is 0.041% dearer against Paradex than usual: you sell high and buy low (spread +0.041% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	309.51	0.0263	pay 0.0263% / 8h	6h 47m	$14K	$1K	10x
Short	Popdex TAOUSDT	309.64	0.0096	get 0.0012% / 1h	47m 24s	$47K	$618K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$34.99
Price spread: +0.041% → 0.000%: $4.14
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$41.25
Costs to cover: 0.104%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Popdex: live order book, 22 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 Popdex live order book, 22 min ago	1.74 bp	10.9 bp −$11	92.1 bp −$921	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	309.14	−0.120%	$124K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	309.09	−0.136%	$12K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	309.64	+0.041%	$47K	$618K	20x
Binance TAOUSDT	+0.0100%	4h	309.47	−0.013%	$88.8M	$459.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	309.30	−0.068%	$25.2M	$108.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	309.30	−0.068%	$12.6M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	309.60	+0.029%	$100.8M	$136.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	309.61	+0.032%	$18.0M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.43	−0.026%	$34.4M	$52.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.23	+0.556%	$34K	$299K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	311.49	+0.638%	$519K	$964K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	309.35	−0.052%	$56K	$318K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	309.99	+0.155%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.29	+0.251%	$127K	$473K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.31	+0.259%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	309.72	+0.067%	$634	$673K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0170%	1h	310.33	+0.263%	$5.6M	$20.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0092%	1h	309.12	−0.128%	$427K	—	100x	as long as short
Aster TAOUSDT	+0.0182%	4h	309.46	−0.017%	$1.3M	$9.1M	50x	as long as short
Bullet TAO-USD	+0.0223%	1h	309.64	+0.041%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERPlong	+0.0263%	8h	309.51	long leg	$14K	$1K	10x
Pacifica TAO	+0.0285%	1h	309.62	+0.034%	$365K	$378K	10x	as long as short
ApeX Omni TAOUSDT	+0.0290%	1h	310.96	+0.468%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0299%	1h	309.58	+0.022%	$78K	$682K	5x	as long as short
Arcus TAO-USD	+0.0337%	1h	309.95	+0.142%	$82K	$551K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0339%	1h	310.07	+0.180%	$15K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+0.533%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+1.977%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0561%	1h	309.58	+0.021%	$760K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	311.70	+0.707%	$326K	$681K	5x	as long as short
Phemex TAOUSDT	+0.0629%	4h	310.71	+0.387%	$3.4M	$7.9M	50x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	310.02	+0.164%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0682%	4h	311.59	+0.670%	$5.4M	$8.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	309.52	+0.004%	$356	—	20x	as long as short
BingX TAO-USDT	+0.0740%	4h	309.50	−0.004%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0785%	4h	309.66	+0.048%	$63.2M	$135.3M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0894%	1h	310.63	+0.361%	$314K	$816K	10x	as long as short
Extended TAO-USD	+0.0992%	1h	309.56	+0.015%	$891K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	311.28	+0.571%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	309.92	+0.132%	$411K	$604K	5x	as long as short
Hyperliquid TAO	+0.1295%	1h	309.99	+0.155%	$98.4M	$92.6M	5x	as long as short
Lighter TAO	+0.1432%	1h	309.85	+0.108%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+0.933%	$166K	$40K	10x	as long as short