Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0123%/8h= +13.4% APRpaid last 24h +0.010%

Price spread now: Paradex against Phemex+0.182%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Paradex

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 for this trade now. Funding pays +$4 a day on $10k at the current rate, and Paradex is 0.182% dearer against Phemex than usual: you sell high and buy low: +$18 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	Phemex TAOUSDT	320.11	0.0100	pay 0.0050% / 4h	2h 55m	$3.2M	$8.1M	50x
Short	Paradex TAO-USD-PERP	320.69	0.0223	get 0.0223% / 8h	6h 55m	$15K	$876	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phemex. 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 PhemexbpFee ParadexbpOrdersPrice spread, now +0.182%Rate

Funding earned: $25.75
Price spread: +0.182% → 0.000%: $18.23
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: $27.98
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Phemex: live order book, 4 min ago; Paradex: 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 Phemex live order book, 4 min ago	11.47 bp	19.3 bp −$19	49.5 bp −$495	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	−0.0985%	1h	321.65	+0.481%	$171K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	+1.280%	$20K	—	150x	as long as short
Bybit TAOUSDT	+0.0100%	4h	319.28	−0.259%	$70.1M	$155.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.10	−0.316%	$26.8M	$129.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.90	−0.378%	$15.3M	$48.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.37	+0.081%	$17.5M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.81	−0.406%	$36.2M	$57.1M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	322.38	+0.709%	$46K	$256K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.55	+0.137%	$84K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	320.11	0.000%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	319.91	−0.062%	$117K	$555K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	320.11	long leg	$3.2M	$8.1M	50x
Popdex TAOUSDT	+0.0104%	1h	320.44	+0.103%	$50K	$690K	20x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	320.39	+0.087%	$656	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.41	+0.094%	$176K	$998	3x	as long as short
MEXC TAO_USDT	+0.0154%	4h	319.33	−0.244%	$106.5M	$149.3M	300x	as long as short
BingX TAO-USDT	+0.0158%	4h	319.08	−0.322%	—	$39.0M	—	as long as short
Binance TAOUSDT	+0.0161%	4h	319.82	−0.089%	$94.1M	$520.0M	75x	as long as short
edgeX TAOUSDC	+0.0161%	4h	322.73	+0.819%	$43K	$322K	10x	as long as short
Paradex TAO-USD-PERPshort	+0.0223%	8h	320.69	+0.182%	$15K	$876	10x
Orderly PERP_TAO_USDC	+0.0247%	4h	320.63	+0.162%	$53K	$274K	10x	as long as short
Extended TAO-USD	+0.0288%	1h	320.51	+0.125%	$969K	$2.2M	25x	as long as short
Pacifica TAO	+0.0301%	1h	320.96	+0.266%	$374K	$439K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0308%	4h	322.97	+0.893%	$549K	$826K	10x	as long as short
Aster TAOUSDT	+0.0325%	4h	320.10	−0.002%	$1.3M	$11.2M	50x	as long as short
Lighter TAO	+0.0344%	1h	320.49	+0.119%	$1.6M	$6.6M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0364% / S −0.0107%	1h	320.06	−0.017%	$376K	—	100x	as long as short
Arcus TAO-USD	+0.0364%	1h	321.16	+0.328%	$101K	$329K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0390%	1h	320.44	+0.102%	$19K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0401%	4h	320.44	+0.103%	$4.8M	$11.0M	100x	as long as short
Bullet TAO-USD	+0.0496%	1h	320.49	+0.119%	$13K	$17K	20x	as long as short
Variational Omni TAO	+0.0521%	4h	322.30	+0.685%	$5.7M	$9.8M	—	as long as short
Phoenix TAO	+0.0578%	1h	323.80	+1.153%	$326K	$712K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0678%	1h	320.44	+0.105%	$6.3M	$20.9M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	320.36	+0.079%	$368	—	20x	as long as short
RISEx TAO/USDC	+0.0701%	1h	320.31	+0.061%	$443K	$714K	5x	as long as short
Nado TAO-PERP	+0.0722%	1h	320.15	+0.012%	$733K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	320.76	+0.203%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0782%	1h	319.12	−0.309%	$299K	$1.1M	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	320.57	+0.144%	$1.1M	$7.5M	50x	as long as short
Hyperliquid TAO	+0.1045%	1h	319.49	−0.194%	$96.4M	$110.4M	5x	as long as short
dYdX TAO-USD	+0.1238%	1h	320.43	+0.100%	$270K	$232K	5x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	327.96	+2.452%	$24K	$2K	12x	as long as short