Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Paradex−0.813%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.813% cheaper against Paradex than usual: you would sell low and buy high (spread −0.813% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$81 on $10k: about 4 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	318.95	0.0212	pay 0.0212% / 8h	7h 58m	$14K	$1K	10x
Short	Variational Omni TAO	316.35	0.0233	get 0.0117% / 4h	3h 58m	$5.4M	$8.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.813%Rate

Funding earned: $4.47
Price spread: −0.813% → 0.000%: −$81.3
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$80.83
Costs to cover: 0.040%
Break-even: 133.6 days

Slippage unknown: Paradex: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	2.87 bp	doesn't fit	17.5 bp −$175	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	−0.1799%	1h	311.96	−2.190%	$167K	$44K	10x	as long as short
Phemex TAOUSDT	−0.0463%	4h	318.82	−0.039%	$3.4M	$7.9M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	318.46	−0.153%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.75	−0.063%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.90	−0.014%	$39K	$572K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	319.03	+0.027%	$1K	$585K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.24	+0.092%	$91.3M	$436.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.10	+0.049%	$25.8M	$106.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.80	−0.046%	$12.9M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.10	+0.049%	$103.9M	$130.5M	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	319.14	+0.061%	$19.1M	$28.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.93	−0.005%	$35.7M	$48.3M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	318.98	+0.011%	—	$30.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.96	−0.935%	$42K	$283K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	317.42	−0.477%	$531K	$942K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.82	−0.980%	$47K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.82	−0.039%	$59K	$303K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.78	−0.052%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.51	−0.136%	$127K	$423K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	320.61	+0.522%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	318.74	−0.064%	$454K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.97	+0.009%	$377K	$371K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.42	+0.149%	$84K	$545K	5x	as long as short
Aster TAOUSDT	+0.0207%	4h	319.25	+0.096%	$1.1M	$8.1M	50x	as long as short
Paradex TAO-USD-PERPlong	+0.0212%	8h	318.95	long leg	$14K	$1K	10x
Variational Omni TAOshort	+0.0233%	4h	316.35	−0.813%	$5.4M	$8.5M	—
BloFin TAO-USDT	+0.0340%	4h	319.28	+0.105%	$4.4M	$10.8M	100x	as long as short
Bullet TAO-USD	+0.0382%	1h	319.18	+0.072%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0420%	4h	319.37	+0.133%	$65.4M	$129.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0481%	1h	318.86	−0.028%	$5.8M	$20.2M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0533%	1h	318.86	−0.026%	$28K	$1.5M	25x	as long as short
Phoenix TAO	+0.0537%	1h	316.20	−0.861%	$331K	$519K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.85	−0.343%	$23K	$370	12x	as long as short
Polymarket Perps TAO-USD	+0.0625%	1h	318.90	−0.014%	$117K	$613K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	318.86	−0.026%	$367	—	20x	as long as short
Nado TAO-PERP	+0.0850%	1h	318.91	−0.010%	$883K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0912%	1h	319.49	+0.171%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0952%	1h	318.99	+0.014%	$920K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.86	+0.287%	$1.5M	$6.0M	50x	as long as short
RISEx TAO/USDC	+0.1141%	1h	319.20	+0.081%	$420K	$585K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1383%	1h	319.34	+0.124%	$318K	$816K	10x	as long as short
Lighter TAO	+0.2152%	1h	319.63	+0.216%	$1.7M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.3014%	1h	319.86	+0.287%	$104.3M	$87.8M	5x	as long as short