Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Polymarket Perps−0.240%105s7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs+$15as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.354% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.506%+$51 on $10k

Price spread, last 3 days (all we have)+0.316%+$32 · spread now −0.240%, 7d avg +0.028%

Together, before fees+0.822%+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.268% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.240% now, against its 7-day average of +0.028%). If the spread goes back, that is −$27 on $10k: about 3.7 days of funding at the current rate (+$7 a day). The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TAO-USD	303.97	0.0100	pay 0.0013% / 1h	29m 25s	$74K	$595K	5x
Short	BloFin TAO-USDT	303.24	0.0340	get 0.0170% / 4h	1h 29m	$4.2M	$9.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.240%Rate

Funding earned: $50.4
Price spread: −0.240% → +0.028%: −$26.81
Slippage, 4 orders: −$15.37
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$11.78
Costs to cover: 0.354%
Break-even: 8.6 days

Slippage from Polymarket Perps: live order book, 53 min ago; BloFin: live order book, 4 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, 53 min ago	2.28 bp	6.3 bp −$6	7.5 bp −$75	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	2.80 bp	11.5 bp −$11	20.2 bp −$202	44.9 bp −$4,492	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	303.40	−0.188%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.65	−0.107%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.76	−0.069%	$45K	$538K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	303.74	−0.076%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.70	−0.089%	$84.9M	$413.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.77	−0.066%	$58.7M	$121.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.60	−0.122%	$24.4M	$95.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	304.10	+0.043%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	303.38	−0.195%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.90	−0.023%	$12.1M	$48.8M	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	303.91	−0.020%	$111.1M	$125.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	303.63	−0.112%	$18.4M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.68	−0.095%	$33.9M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	304.12	+0.049%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.79	−0.060%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.27	−0.231%	$39K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	302.72	−0.412%	$501K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.45	−0.171%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USDlong	+0.0100%	1h	303.97	long leg	$74K	$595K	5x
Bullet TAO-USD	+0.0100%	1h	303.93	−0.013%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.01	−0.316%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	302.98	−0.326%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.25	−0.237%	$122K	$364K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.06	−0.299%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.22	−0.248%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	303.60	−0.122%	$621	$496K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	303.77	−0.066%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.89	−0.027%	$359K	$372K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	302.95	−0.335%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0276%	1h	303.05	−0.302%	$21K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0333%	1h	303.91	−0.021%	$820K	$1.9M	10x	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	303.24	−0.240%	$4.2M	$9.3M	100x
Lighter TAO	+0.0376%	1h	303.95	−0.005%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	303.94	−0.010%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0435%	1h	303.53	−0.145%	$378K	$756K	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.50	−0.155%	$321K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.77	−0.065%	$349	—	20x	as long as short
Extended TAO-USD	+0.0816%	1h	304.11	+0.046%	$825K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	303.21	−0.250%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.09	−0.291%	$5.7M	$19.7M	50x	as long as short
Hyperliquid TAO	+0.1059%	1h	304.03	+0.020%	$92.3M	$80.5M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.93	−0.014%	$411K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.566%	$22K	$264	12x	as long as short