Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h 0.000%

Price spread now: Binance against Polymarket Perps−0.518%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.518%, 7d avg +0.002%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.520% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$52 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TAO-USD	307.43	0.0106	pay 0.0013% / 1h	30m 09s	$86K	$669K	5x
Short	Binance TAOUSDT	305.84	0.0100	get 0.0050% / 4h	2h 30m	$85.6M	$402.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now −0.518%Rate

Funding earned: −$1.26
Price spread: −0.518% → +0.002%: −$52.01
Slippage, 4 orders: −$12.66
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$83.92
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 57 min ago; Binance: live order book, 14 min ago.

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 Polymarket Perps live order book, 57 min ago	3.04 bp	7.0 bp −$7	8.7 bp −$87	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.16 bp	8.1 bp −$8	14.7 bp −$147	36.2 bp −$3,621	doesn't fit

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	307.36	−0.023%	$129K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	305.39	−0.662%	$15K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	305.17	−0.735%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.24	−0.062%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.71	+0.090%	$364K	$400K	10x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	305.84	−0.518%	$85.6M	$402.7M	75x
Bybit TAOUSDT	+0.0100%	4h	306.02	−0.459%	$59.1M	$118.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.80	−0.530%	$25.0M	$92.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.60	+0.055%	$137K	$594K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	−0.117%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	305.60	−0.595%	$12.0M	$47.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.73	−0.553%	$112.9M	$123.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	305.64	−0.582%	$18.4M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	305.66	−0.576%	$34.3M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.86	−0.511%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.033%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.38	−0.016%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.30	−0.042%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.14	−0.094%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.25	−0.709%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.25	−0.709%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.96	−0.803%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.47	−0.963%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.56	−0.608%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.46	−0.639%	$168K	$998	3x	as long as short
Polymarket Perps TAO-USDlong	+0.0106%	1h	307.43	long leg	$86K	$669K	5x
Katana Perps TAO-USD	+0.0112%	8h	307.37	−0.020%	$1K	$430K	5x	as long as short
Aster TAOUSDT	+0.0160%	4h	305.76	−0.542%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	307.63	+0.065%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.99	−0.792%	$435K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.283%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0283%	1h	307.42	−0.005%	$846K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.28	−0.049%	$4.2M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.74	+0.101%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.05	−0.124%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	305.30	−0.694%	$901K	$2.0M	25x	as long as short
Lighter TAO	+0.0944%	1h	306.26	−0.381%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	305.96	−0.478%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1031%	1h	305.85	−0.515%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.49	+0.021%	$411K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1302%	1h	305.78	−0.537%	$437K	$703K	10x	as long as short
Hyperliquid TAO	+0.1694%	1h	306.58	−0.276%	$93.7M	$75.8M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.387%	$22K	$138	12x	as long as short