Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0256%/8h= −28.0% APRpaid last 24h −0.013%

Price spread now: Popdex against Paradex−0.211%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Popdex

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 −$8 a day on $10k at the current rate, and Popdex is 0.211% cheaper against Paradex than usual: you would sell low and buy high (−$21 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	Paradex TAO-USD-PERP	318.69	0.0352	pay 0.0352% / 8h	5h 52m	$14K	$1K	10x
Short	Popdex TAOUSDT	318.02	0.0096	get 0.0012% / 1h	52m 20s	$46K	$645K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.211%Rate

Funding earned: −$53.74
Price spread: −0.211% → 0.000%: −$21.14
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$85.27
Costs to cover: 0.104%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Popdex: live order book, 12 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 Popdex live order book, 12 min ago	2.04 bp	10.2 bp −$10	81.2 bp −$812	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 42 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	−0.2257%	1h	317.17	−0.478%	$168K	$40K	10x	as long as short
ApeX Omni TAOUSDT	−0.0750%	1h	314.06	−1.454%	$47K	$253K	50x	as long as short
dYdX TAO-USD	0.0000%	1h	318.54	−0.047%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.42	−0.399%	$10K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	318.02	−0.211%	$46K	$645K	20x
Binance TAOUSDT	+0.0100%	4h	317.68	−0.318%	$91.8M	$467.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.60	−0.343%	$26.2M	$115.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.70	−0.312%	$13.0M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.88	−0.255%	$105.0M	$137.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.00	−0.218%	$18.2M	$30.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	317.42	−0.400%	$35.4M	$53.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	317.37	−0.416%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.72	−0.305%	$78K	$733K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.63	−0.334%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.52	−0.368%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.82	−0.274%	$130K	$474K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.52	−0.368%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.87	−0.257%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	318.21	−0.152%	$1K	$736K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0165% / S +0.0104%	1h	317.37	−0.416%	$431K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0190%	4h	316.25	−0.766%	$526K	$946K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0247%	1h	317.54	−0.361%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0307%	4h	317.65	−0.327%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0344%	1h	317.88	−0.255%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERPlong	+0.0352%	8h	318.69	long leg	$14K	$1K	10x
Deribit TAO_USDC-PERPETUAL	+0.0378%	1h	317.61	−0.341%	$14K	$1.6M	25x	as long as short
Pacifica TAO	+0.0448%	1h	318.89	+0.060%	$377K	$393K	10x	as long as short
Phoenix TAO	+0.0504%	1h	317.80	−0.280%	$333K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	318.75	+0.018%	$100K	$489K	5x	as long as short
Nado TAO-PERP	+0.0519%	1h	317.92	−0.242%	$766K	$2.1M	10x	as long as short
BingX TAO-USDT	+0.0686%	4h	317.67	−0.321%	—	$30.3M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.68	−0.317%	$365	—	20x	as long as short
Bybit TAOUSDT	+0.0736%	4h	317.75	−0.296%	$67.5M	$138.6M	50x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	318.77	+0.024%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0865%	4h	319.02	+0.103%	$6.0M	$9.6M	—	as long as short
Backpack TAO_USDC_PERP	+0.0890%	1h	318.72	+0.008%	$322K	$802K	10x	as long as short
Extended TAO-USD	+0.0928%	1h	317.61	−0.340%	$900K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.77	+0.338%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	318.24	−0.141%	$450K	$626K	5x	as long as short
Lighter TAO	+0.1160%	1h	318.01	−0.214%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1454%	1h	318.14	−0.174%	$100.6M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+0.705%	$23K	$2K	12x	as long as short