Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0057%/8h= +6.3% APRpaid last 24h +0.002%

Price spread now: Paradex against Popdex−0.027%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Popdex Short on Paradex

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

Funding pays, the price is against you. Paradex is 0.027% cheaper against Popdex than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 37 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	305.64	0.0096	pay 0.0012% / 1h	13m 15s	$45K	$539K	20x
Short	Paradex TAO-USD-PERP	305.56	0.0153	get 0.0153% / 8h	1h 13m	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Popdex. 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 PopdexbpFee ParadexbpOrdersPrice spread, now −0.027%Rate

Funding earned: $12.02
Price spread: −0.027% → 0.000%: −$2.66
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$1.03
Costs to cover: 0.104%
Break-even: 7.6 days

Slippage unknown: Popdex: live order book, 6 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 Popdex live order book, 6 min ago	3.43 bp	10.9 bp −$11	73.0 bp −$730	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	305.61	−0.009%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0014%	1h	305.66	+0.006%	$125K	$85K	5x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	305.64	long leg	$45K	$539K	20x
Binance TAOUSDT	+0.0100%	4h	305.76	+0.039%	$85.5M	$414.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	305.89	+0.082%	$59.2M	$121.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.90	+0.085%	$24.5M	$95.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	305.85	+0.069%	$79K	$643K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	302.77	−0.939%	$162K	$54K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	305.70	+0.020%	$12.2M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.74	+0.033%	$113.7M	$125.8M	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	305.60	−0.013%	$18.2M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	305.73	+0.029%	$34.1M	$45.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.75	+0.036%	—	$30.3M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.77	+0.041%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.94	+0.098%	$40K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.70	+0.021%	$505K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.91	+0.088%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.70	+0.020%	$75K	$555K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.84	+0.065%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.83	+0.062%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	305.51	−0.043%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	305.86	+0.072%	$122K	$368K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.88	+0.079%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.87	+0.074%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	305.69	+0.016%	$625	$505K	5x	as long as short
Aster TAOUSDT	+0.0117%	4h	305.73	+0.030%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERPshort	+0.0153%	8h	305.56	−0.027%	$14K	$1K	10x
Pacifica TAO	+0.0164%	1h	305.74	+0.033%	$361K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	305.60	−0.015%	$436K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0321%	1h	305.91	+0.089%	$19K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0326%	1h	305.60	−0.014%	$825K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.71	+0.023%	$4.2M	$9.5M	100x	as long as short
Lighter TAO	+0.0360%	1h	306.15	+0.168%	$1.6M	$5.4M	5x	as long as short
01 Exchange TAOUSD	+0.0408%	1h	305.79	+0.049%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0451%	1h	305.98	+0.111%	$294K	$800K	10x	as long as short
Phoenix TAO	+0.0521%	1h	306.30	+0.216%	$320K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	305.84	+0.066%	$352	—	20x	as long as short
Extended TAO-USD	+0.0720%	1h	305.94	+0.097%	$834K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	306.14	+0.164%	$1.5M	$5.5M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1032%	1h	305.97	+0.109%	$5.8M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1094%	1h	306.09	+0.147%	$93.2M	$80.7M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	305.80	+0.051%	$416K	$544K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.011%	$22K	$264	12x	as long as short