Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h +0.002%

Price spread now: Polymarket Perps against OKX−0.344%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 4 days (all we have)+1.568%+$157 · spread now −0.344%, 7d avg +0.030%

Together, before fees+1.498%+$150 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.375% cheaper against OKX than usual: you would sell low and buy high (spread −0.344% now, against its 7-day average of +0.030%). If the spread goes back, that is −$37 on $10k: about 12 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.070%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TAO-USDT-SWAP	307.70	0.0100	pay 0.0100% / 8h	6h 40m	$25.2M	$108.2M	50x
Short	Polymarket Perps TAO-USD	306.64	0.0206	get 0.0026% / 1h	40m 04s	$76K	$643K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against OKX. 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 OKXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.344%Rate

Funding earned: $22.28
Price spread: −0.344% → +0.030%: −$37.47
Slippage, 4 orders: −$16.24
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$49.43
Costs to cover: 0.342%
Break-even: 22.5 days

Slippage from OKX: live order book, 4 min ago; Polymarket Perps: live order book, 28 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 OKX live order book, 4 min ago	1.62 bp	8.3 bp −$8	18.3 bp −$183	65.6 bp −$6,557	doesn't fit
Sell Polymarket Perps live order book, 28 min ago	2.84 bp	8.7 bp −$9	9.5 bp −$95	doesn't fit	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	307.32	−0.123%	$123K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	306.43	−0.412%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	306.80	−0.292%	$45K	$606K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.49	−0.069%	$88.7M	$460.4M	75x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	307.70	long leg	$25.2M	$108.2M	50x
Gate TAO_USDT	+0.0100%	4h	307.40	−0.097%	$12.5M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.74	+0.013%	$103.2M	$137.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.70	0.000%	$17.9M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.55	−0.049%	$34.4M	$53.1M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.15	+0.470%	$34K	$298K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	309.02	+0.430%	$515K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.11	+0.458%	$46K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.02	−0.221%	$56K	$283K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.13	−0.185%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.33	−0.120%	$126K	$471K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.33	−0.120%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	307.02	−0.221%	$688	$680K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0102%	1h	306.38	−0.430%	$412K	—	100x	as long as short
Aster TAOUSDT	+0.0170%	4h	307.32	−0.124%	$1.2M	$9.2M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0172%	1h	307.45	−0.082%	$5.5M	$20.4M	50x	as long as short
Polymarket Perps TAO-USDshort	+0.0206%	1h	306.64	−0.344%	$76K	$643K	5x
Bullet TAO-USD	+0.0218%	1h	306.70	−0.326%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0224%	1h	307.18	−0.169%	$15K	$1.5M	25x	as long as short
Paradex TAO-USD-PERP	+0.0275%	8h	307.24	−0.150%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	307.43	−0.087%	$363K	$378K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	307.49	−0.068%	$81K	$551K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+1.124%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+2.577%	$23K	$2K	12x	as long as short
Phoenix TAO	+0.0588%	1h	308.80	+0.357%	$323K	$681K	5x	as long as short
Nado TAO-PERP	+0.0591%	1h	306.54	−0.378%	$746K	$2.1M	10x	as long as short
Phemex TAOUSDT	+0.0639%	4h	307.50	−0.065%	$3.3M	$8.0M	50x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	307.16	−0.175%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	306.58	−0.364%	$353	—	20x	as long as short
Variational Omni TAO	+0.0734%	4h	308.15	+0.145%	$5.3M	$8.9M	—	as long as short
BingX TAO-USDT	+0.0736%	4h	307.74	+0.013%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0774%	4h	307.85	+0.049%	$62.8M	$135.7M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0841%	1h	307.80	+0.032%	$311K	$814K	10x	as long as short
Extended TAO-USD	+0.0952%	1h	307.29	−0.135%	$880K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	307.35	−0.114%	$1.4M	$6.2M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	307.17	−0.174%	$409K	$604K	5x	as long as short
Hyperliquid TAO	+0.1248%	1h	307.92	+0.071%	$97.3M	$93.4M	5x	as long as short
Lighter TAO	+0.1360%	1h	308.23	+0.171%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+1.527%	$166K	$40K	10x	as long as short