Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1143%/8h= +125.1% APRpaid last 24h +0.069%

Price spread now: Lighter against Paradex+0.022%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Lighter is 0.022% dearer against Paradex than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	311.67	0.0233	pay 0.0233% / 8h	6h 58m	$14K	$1K	10x
Short	Lighter TAO	311.73	0.1376	get 0.0172% / 1h	58m 35s	$1.6M	$6.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.022%Rate

Funding earned: $239.93
Price spread: +0.022% → 0.000%: $2.19
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $238.11
Costs to cover: 0.040%
Break-even: 0.1 days

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 5 min ago. 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 Lighter live order book, 5 min ago	3.65 bp	6.0 bp −$6	26.3 bp −$263	doesn't fit	doesn't fit

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	−0.1228%	1h	316.14	+1.436%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	310.95	−0.231%	$124K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	312.28	+0.197%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.59	+0.297%	$44K	$610K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.43	+0.244%	$89.7M	$454.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.80	+0.043%	$25.3M	$108.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.70	+0.011%	$12.6M	$48.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.13	−0.172%	$99.5M	$134.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.38	+0.229%	$18.3M	$29.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.09	+0.136%	$34.7M	$52.1M	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	315.16	+1.121%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.04	+0.442%	$522K	$962K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.60	+0.941%	$48K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.73	+0.341%	$56K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.22	+0.178%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.94	+0.409%	$119K	$446K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.44	+0.249%	$172K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0114%	1h	312.89	+0.393%	$91K	$633K	5x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	312.19	+0.168%	$639	$657K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0169%	1h	312.35	+0.218%	$5.6M	$20.3M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0171% / S +0.0107%	1h	312.47	+0.258%	$438K	—	100x	as long as short
Aster TAOUSDT	+0.0173%	4h	312.36	+0.224%	$1.3M	$9.0M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0181%	1h	312.34	+0.216%	$16K	$1.5M	25x	as long as short
Bullet TAO-USD	+0.0203%	1h	312.83	+0.374%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERPlong	+0.0233%	8h	311.67	long leg	$14K	$1K	10x
Pacifica TAO	+0.0285%	1h	311.74	+0.024%	$369K	$373K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	312.43	+0.245%	$83K	$550K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.04	+0.441%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	316.84	+1.660%	$23K	$2K	12x	as long as short
Phoenix TAO	+0.0525%	1h	313.80	+0.685%	$328K	$620K	5x	as long as short
01 Exchange TAOUSD	+0.0568%	1h	312.56	+0.287%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0606%	4h	314.06	+0.768%	$5.4M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	312.73	+0.341%	$360	—	20x	as long as short
BingX TAO-USDT	+0.0704%	4h	312.26	+0.191%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0740%	4h	311.90	+0.075%	$63.5M	$134.7M	50x	as long as short
Nado TAO-PERP	+0.0753%	1h	312.98	+0.422%	$776K	$2.1M	10x	as long as short
Phemex TAOUSDT	+0.0835%	4h	312.78	+0.357%	$3.4M	$7.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0907%	1h	312.77	+0.354%	$316K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	313.97	+0.739%	$1.5M	$6.4M	50x	as long as short
Hyperliquid TAO	+0.1052%	1h	312.75	+0.348%	$99.7M	$92.1M	5x	as long as short
Extended TAO-USD	+0.1056%	1h	312.19	+0.167%	$898K	$2.4M	25x	as long as short
RISEx TAO/USDC	+0.1132%	1h	312.27	+0.195%	$414K	$602K	5x	as long as short
Lighter TAOshort	+0.1376%	1h	311.73	+0.022%	$1.6M	$6.0M	5x