Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0092%/8h= +10.0% APRpaid last 24h +0.001%

Price spread now: Paradex against Phemex+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 Phemex Short on Paradex

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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.041% dearer against Phemex than usual: you sell high and buy low: +$4 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	Phemex TAOUSDT	312.61	0.0100	pay 0.0050% / 4h	21m 04s	$3.3M	$7.9M	50x
Short	Paradex TAO-USD-PERP	312.74	0.0192	get 0.0192% / 8h	21m 04s	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phemex. 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 PhemexbpFee ParadexbpOrdersPrice spread, now +0.041%Rate

Funding earned: $19.25
Price spread: +0.041% → 0.000%: $4.08
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: $7.33
Costs to cover: 0.160%
Break-even: 4.3 days

Slippage unknown: Phemex: live order book, 3 min ago; Paradex: 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 Phemex live order book, 3 min ago	12.53 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	−0.4493%	1h	315.57	+0.947%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.35	−0.084%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.41	−0.065%	$27K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+0.749%	$23K	$361	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.87	+0.083%	$37K	$564K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.76	+0.048%	$370K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.63	+0.006%	$88.7M	$427.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.76	+0.048%	$61.5M	$125.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.40	−0.067%	$25.1M	$101.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.40	−0.067%	$12.4M	$50.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	312.58	−0.010%	$110.2M	$131.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.65	+0.013%	$18.5M	$27.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.24	−0.118%	$34.9M	$46.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.58	−0.010%	—	$30.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.50	−0.355%	$40K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.50	−0.035%	$518K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.35	−0.403%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.94	+0.106%	$77K	$466K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.74	+0.042%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.54	−0.022%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.48	−0.042%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.58	−0.010%	$127K	$408K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	312.61	long leg	$3.3M	$7.9M	50x
Aevo TAO-PERP	+0.0104%	1h	312.70	+0.027%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	312.90	+0.093%	$3K	$557K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0150%	1h	312.51	−0.033%	$21K	$1.5M	25x	as long as short
Aster TAOUSDT	+0.0177%	4h	312.60	−0.004%	$1.1M	$7.9M	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.04	+0.138%	$83K	$565K	5x	as long as short
Paradex TAO-USD-PERPshort	+0.0192%	8h	312.74	+0.041%	$14K	$1K	10x
Variational Omni TAO	+0.0218%	4h	312.89	+0.090%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.70	+0.029%	$4.4M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0446%	1h	312.68	+0.023%	$823K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.57	−0.013%	$5.7M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	312.42	−0.062%	$448K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0521%	1h	312.60	−0.003%	$292K	$803K	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.50	−0.035%	$327K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0600%	1h	313.16	+0.176%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.73	+0.039%	$360	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	312.51	−0.031%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.27	+0.211%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1224%	1h	313.02	+0.130%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	312.95	+0.110%	$435K	$567K	5x	as long as short
Hyperliquid TAO	+0.1660%	1h	313.00	+0.125%	$97.5M	$84.2M	5x	as long as short