Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0071%/8h= +7.8% APRpaid last 24h −0.002%

Price spread now: Binance against Polymarket Perps+0.110%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 4 days (all we have)−1.336%−$134 · spread now +0.110%, 7d avg −0.001%

Together, before fees−1.270%−$127 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.111% dearer against Polymarket Perps than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TAO-USD	316.44	0.0100	pay 0.0013% / 1h	36m 28s	$88K	$1.2M	5x
Short	Binance TAOUSDT	316.79	0.0171	get 0.0085% / 4h	36m 28s	$91.9M	$530.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.110%Rate

Funding earned: $14.9
Price spread: +0.110% → −0.001%: $11.11
Slippage, 4 orders: −$11.22
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$3.21
Costs to cover: 0.292%
Break-even: 8.5 days

Slippage from Polymarket Perps: live order book, 2 min ago; Binance: live order book, 7 min ago.

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 Polymarket Perps live order book, 2 min ago	2.37 bp	8.8 bp −$9	9.6 bp −$96	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	0.16 bp	6.2 bp −$6	14.5 bp −$145	31.6 bp −$3,164	doesn't fit

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.51	+0.023%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0039%	1h	316.06	−0.121%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.44	0.000%	$44K	$711K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.70	+0.082%	$26.4M	$130.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.50	+0.019%	$14.4M	$51.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.30	−0.044%	$17.7M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.42	−0.006%	$35.6M	$58.0M	50x	as long as short
Polymarket Perps TAO-USDlong	+0.0100%	1h	316.44	long leg	$88K	$1.2M	5x
SunX TAO-USDT	+0.0100%	4h	316.48	+0.013%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.75	+0.098%	$115K	$604K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0107%	8h	316.30	−0.044%	$4K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0107% / S +0.0136%	1h	316.52	+0.027%	$403K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	316.92	+0.150%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0149%	4h	316.68	+0.076%	$52K	$294K	10x	as long as short
Binance TAOUSDTshort	+0.0171%	4h	316.79	+0.110%	$91.9M	$530.6M	75x
MEXC TAO_USDT	+0.0174%	4h	316.64	+0.063%	$99.9M	$151.5M	300x	as long as short
edgeX TAOUSDC	+0.0185%	4h	317.37	+0.292%	$42K	$319K	10x	as long as short
ApeX Omni TAOUSDT	+0.0187%	1h	318.97	+0.800%	$46K	$260K	50x	as long as short
Paradex TAO-USD-PERP	+0.0237%	8h	316.45	+0.004%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0240%	1h	316.59	+0.047%	$15K	$1.9M	25x	as long as short
Bullet TAO-USD	+0.0269%	1h	316.84	+0.127%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0270%	4h	316.87	+0.136%	$69.4M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0280%	4h	316.74	+0.095%	—	$37.0M	—	as long as short
Pacifica TAO	+0.0313%	1h	316.52	+0.025%	$371K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.882%	$170K	$0	10x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	317.09	+0.206%	$541K	$918K	10x	as long as short
Extended TAO-USD	+0.0320%	1h	316.79	+0.111%	$903K	$2.4M	25x	as long as short
Aster TAOUSDT	+0.0330%	4h	316.77	+0.103%	$1.3M	$11.0M	50x	as long as short
BloFin TAO-USDT	+0.0415%	4h	316.72	+0.088%	$4.7M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0473%	1h	316.60	+0.051%	$102K	$381K	5x	as long as short
Nado TAO-PERP	+0.0500%	1h	316.30	−0.045%	$786K	$2.0M	10x	as long as short
Phemex TAOUSDT	+0.0511%	4h	316.46	+0.006%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0528%	1h	316.83	+0.122%	$1.6M	$6.9M	5x	as long as short
Variational Omni TAO	+0.0537%	4h	318.96	+0.797%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0629%	1h	319.50	+0.967%	$318K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0686%	1h	316.91	+0.149%	$292K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	316.46	+0.006%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.63	+0.060%	$364	—	20x	as long as short
Hyperliquid TAO	+0.0743%	1h	316.62	+0.057%	$93.6M	$110.1M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	316.31	−0.041%	$443K	$670K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0837%	1h	316.70	+0.083%	$5.9M	$21.6M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.65	+0.382%	$1.5M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+2.054%	$23K	$2K	12x	as long as short