Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h −0.010%

Price spread now: Bullet against Paradex+0.040%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bullet

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

The price spread pays, funding is against you. Bullet is 0.040% dearer against Paradex than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	313.21	0.0182	pay 0.0182% / 8h	4h 35m	$14K	$1K	10x
Short	Bullet TAO-USD	313.33	0.0100	get 0.0013% / 1h	35m 57s	$12K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Paradex. 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 ParadexbpFee BulletbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$17.2
Price spread: +0.040% → 0.000%: $3.97
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$25.23
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Bullet: 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 Paradex no order-book sample	—	—	—	—	—
Sell Bullet no order-book sample	—	—	—	—	—

Paradex and Bullet: 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	−0.0482%	1h	315.13	+0.614%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.15	−0.018%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.01	−0.062%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	313.45	+0.077%	$5.5M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.04	−0.053%	$42K	$688K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.44	+0.393%	$90.6M	$492.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.50	+0.413%	$25.8M	$119.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.10	+0.285%	$12.9M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.07	+0.276%	$107.2M	$143.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.86	+0.209%	$17.4M	$31.7M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	314.33	+0.359%	$35.1M	$56.1M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.76	+0.816%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.75	+0.812%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.15	−0.018%	$89K	$791K	5x	as long as short
Bullet TAO-USDshort	+0.0100%	1h	313.33	+0.040%	$12K	$18K	20x
SunX TAO-USDT	+0.0100%	4h	313.39	+0.059%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.92	−0.091%	$108K	$528K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.40	+0.062%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	312.89	−0.101%	$992	$792K	5x	as long as short
Bybit TAOUSDT	+0.0102%	4h	314.52	+0.419%	$68.5M	$147.4M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0104%	4h	316.85	+1.164%	$528K	$944K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.17	−0.012%	$172K	$998	3x	as long as short
BingX TAO-USDT	+0.0116%	4h	314.18	+0.311%	—	$30.1M	—	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	313.16	−0.015%	$56K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0150% / S +0.0123%	1h	313.13	−0.023%	$417K	—	100x	as long as short
Paradex TAO-USD-PERPlong	+0.0182%	8h	313.21	long leg	$14K	$1K	10x
Nado TAO-PERP	+0.0208%	1h	313.17	−0.012%	$796K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0208%	4h	313.47	+0.084%	$1.2M	$10.2M	50x	as long as short
Hyperliquid TAO	+0.0254%	1h	313.95	+0.237%	$92.5M	$106.0M	5x	as long as short
Extended TAO-USD	+0.0264%	1h	313.96	+0.240%	$917K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0264%	1h	313.06	−0.047%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0265%	1h	313.31	+0.033%	$13K	$1.7M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0327%	1h	313.87	+0.212%	$314K	$913K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.41	+0.384%	$4.5M	$10.8M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	313.40	+0.062%	$99K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	313.37	+0.052%	$357K	$411K	10x	as long as short
Lighter TAO	+0.0408%	1h	314.00	+0.255%	$1.5M	$6.5M	5x	as long as short
Phoenix TAO	+0.0581%	1h	317.30	+1.307%	$316K	$697K	5x	as long as short
Variational Omni TAO	+0.0588%	4h	313.21	+0.001%	$5.7M	$9.9M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	313.37	+0.051%	$360	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	313.04	−0.055%	$434K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	313.64	+0.139%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.92	+2.144%	$23K	$2K	12x	as long as short