Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h +0.011%

Price spread now: Paradex against Bybit−0.082%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and Paradex is 0.082% cheaper against Bybit than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	316.45	0.0325	pay 0.0162% / 4h	1h 01m	$69.3M	$145.6M	50x
Short	Paradex TAO-USD-PERP	316.19	0.0225	get 0.0225% / 8h	5h 01m	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bybit. 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 BybitbpFee ParadexbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$20.8
Price spread: −0.082% → 0.000%: −$8.25
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$44.05
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 3 min ago	0.16 bp	9.9 bp −$10	18.0 bp −$180	45.5 bp −$4,549	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	−0.0766%	1h	316.69	+0.074%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.89	−0.178%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.62	−0.262%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.80	−0.205%	$41K	$680K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.25	−0.062%	$91.7M	$487.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	−0.111%	$26.0M	$119.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.90	−0.174%	$13.0M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.19	−0.082%	$104.7M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.86	−0.186%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.96	−0.155%	$35.2M	$55.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.23	−0.069%	$35K	$303K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.06	−0.123%	$88K	$791K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.75	−0.221%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.69	−0.240%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.83	−0.196%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.72	−0.230%	$173K	$998	3x	as long as short
Bullet TAO-USD	+0.0111%	1h	315.84	−0.191%	$12K	$18K	20x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	315.54	−0.288%	$2K	$780K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	315.90	−0.174%	$57K	$275K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0152%	4h	316.00	−0.141%	$526K	$965K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0155% / S +0.0113%	1h	315.66	−0.250%	$428K	—	100x	as long as short
Paradex TAO-USD-PERPshort	+0.0225%	8h	316.19	−0.082%	$14K	$1K	10x
Kraken Futures PF_TAOUSD	+0.0248%	1h	315.95	−0.159%	$5.6M	$20.7M	50x	as long as short
Aster TAOUSDT	+0.0254%	4h	315.95	−0.158%	$1.2M	$10.0M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0263%	1h	315.90	−0.172%	$14K	$1.7M	25x	as long as short
ApeX Omni TAOUSDT	+0.0277%	1h	315.75	−0.221%	$46K	$253K	50x	as long as short
Bybit TAOUSDTlong	+0.0325%	4h	316.45	long leg	$69.3M	$145.6M	50x
BloFin TAO-USDT	+0.0340%	4h	316.17	−0.088%	$4.6M	$10.9M	100x	as long as short
BingX TAO-USDT	+0.0366%	4h	316.03	−0.133%	—	$30.4M	—	as long as short
Pacifica TAO	+0.0448%	1h	316.13	−0.103%	$372K	$413K	10x	as long as short
Extended TAO-USD	+0.0504%	1h	315.81	−0.204%	$922K	$2.4M	25x	as long as short
Phoenix TAO	+0.0504%	1h	315.90	−0.174%	$330K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.26	−0.060%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0542%	1h	315.89	−0.177%	$844K	$2.2M	10x	as long as short
01 Exchange TAOUSD	+0.0616%	1h	315.88	−0.180%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0696%	1h	316.20	−0.078%	$1.6M	$6.4M	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.65	−0.253%	$363	—	20x	as long as short
Variational Omni TAO	+0.0713%	4h	315.94	−0.161%	$5.9M	$9.7M	—	as long as short
Backpack TAO_USDC_PERP	+0.0783%	1h	316.23	−0.070%	$314K	$920K	10x	as long as short
Hyperliquid TAO	+0.0883%	1h	316.24	−0.066%	$95.2M	$104.5M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.199%	$1.5M	$6.6M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	315.91	−0.171%	$435K	$659K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	319.25	+0.885%	$23K	$2K	12x	as long as short