Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0356%/8h= +39.0% APRpaid last 24h +0.166%

Price spread now: Reya against Paradex+0.029%47s7-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 Reya

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 · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Reya is 0.029% dearer against Paradex than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	316.47	0.0340	pay 0.0340% / 8h	5h 47m	$14K	$1K	10x
Short	Reya TAORUSDPERP	316.56	0.0696	get 0.0087% / 1h	47m 35s	$364	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.029%Rate

Funding earned: $74.81
Price spread: +0.029% → 0.000%: $2.93
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: $67.75
Costs to cover: 0.100%
Break-even: 0.7 days

Slippage unknown: Paradex: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Paradex and Reya: 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	+0.221%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.64	+0.054%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.93	+0.147%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.46	−0.003%	$44K	$650K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.50	+0.009%	$91.5M	$469.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.60	+0.041%	$26.1M	$115.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.30	−0.054%	$12.9M	$49.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.46	−0.003%	$105.3M	$138.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.65	+0.057%	$18.2M	$30.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.43	−0.013%	$35.4M	$53.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.85	+0.437%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.34	−0.041%	$76K	$757K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.46	+0.313%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.19	+0.227%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.31	−0.051%	$129K	$476K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.04	+0.180%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.28	+0.255%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	316.47	0.000%	$1K	$746K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0164% / S +0.0105%	1h	316.82	+0.112%	$430K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0212%	4h	317.35	+0.278%	$528K	$946K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0247%	1h	317.21	+0.233%	$5.6M	$20.5M	50x	as long as short
Bullet TAO-USD	+0.0281%	1h	317.17	+0.221%	$12K	$18K	20x	as long as short
Aster TAOUSDT	+0.0297%	4h	316.68	+0.067%	$1.2M	$9.3M	50x	as long as short
Paradex TAO-USD-PERPlong	+0.0340%	8h	316.47	long leg	$14K	$1K	10x
Pacifica TAO	+0.0448%	1h	316.86	+0.123%	$374K	$396K	10x	as long as short
ApeX Omni TAOUSDT	+0.0473%	1h	317.85	+0.436%	$48K	$253K	50x	as long as short
Phoenix TAO	+0.0504%	1h	316.70	+0.073%	$332K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	317.00	+0.167%	$100K	$489K	5x	as long as short
Nado TAO-PERP	+0.0575%	1h	316.28	−0.059%	$762K	$2.1M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0594%	1h	317.40	+0.294%	$21K	$1.6M	25x	as long as short
BingX TAO-USDT	+0.0684%	4h	316.56	+0.028%	—	$30.3M	—	as long as short
Reya TAORUSDPERPshort	+0.0696%	1h	316.56	+0.029%	$364	—	20x
Bybit TAOUSDT	+0.0708%	4h	316.60	+0.041%	$67.5M	$139.3M	50x	as long as short
01 Exchange TAOUSD	+0.0736%	1h	316.76	+0.092%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0869%	1h	317.12	+0.205%	$320K	$802K	10x	as long as short
Variational Omni TAO	+0.0881%	4h	317.62	+0.364%	$6.0M	$9.6M	—	as long as short
Extended TAO-USD	+0.0920%	1h	316.64	+0.054%	$896K	$2.3M	25x	as long as short
Lighter TAO	+0.1016%	1h	317.15	+0.215%	$1.6M	$6.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.65	+0.373%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.56	+0.028%	$448K	$626K	5x	as long as short
Hyperliquid TAO	+0.1425%	1h	317.22	+0.237%	$100.3M	$98.2M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.412%	$23K	$2K	12x	as long as short