Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Polymarket Perps against Binance−0.048%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.339%+$34 · spread now −0.048%, 7d avg 0.000%

Together, before fees+0.271%+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.048% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TAOUSDT	311.85	0.0100	pay 0.0050% / 4h	3h 21m	$89.4M	$500.7M	75x
Short	Polymarket Perps TAO-USD	311.70	0.0100	get 0.0013% / 1h	21m 25s	$79K	$901K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → 0.000%: −$4.81
Slippage, 4 orders: −$6.41
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$29.22
Costs to cover: 0.244%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Polymarket Perps: live order book, 31 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 Binance live order book, 7 min ago	0.16 bp	7.0 bp −$7	13.2 bp −$132	32.1 bp −$3,213	doesn't fit
Sell Polymarket Perps live order book, 31 min ago	0.96 bp	5.0 bp −$5	5.4 bp −$54	doesn't fit	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
Kraken Futures PF_TAOUSD	−0.0349%	1h	310.70	−0.370%	$5.5M	$20.6M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	310.44	−0.452%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0013%	1h	311.34	−0.162%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.94	+0.029%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	311.73	−0.038%	$639	$842K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.75	−0.032%	$355K	$414K	10x	as long as short
Binance TAOUSDTlong	+0.0100%	4h	311.85	long leg	$89.4M	$500.7M	75x
Bybit TAOUSDT	+0.0100%	4h	312.05	+0.064%	$67.2M	$150.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.80	−0.016%	$25.9M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.50	−0.112%	$13.3M	$50.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	311.85	0.000%	$102.2M	$145.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.57	−0.090%	$17.7M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.50	−0.112%	$34.9M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.88	+0.010%	—	$33.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	310.82	−0.329%	$41K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	310.69	−0.370%	$528K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	310.73	−0.359%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USDshort	+0.0100%	1h	311.70	−0.048%	$79K	$901K	5x
Bullet TAO-USD	+0.0100%	1h	310.70	−0.369%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	310.51	−0.430%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.32	−0.491%	$109K	$541K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	311.69	−0.051%	$1.3M	$10.5M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.80	−0.335%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0116%	4h	310.59	−0.404%	$51K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0137% / S +0.0135%	1h	310.40	−0.466%	$412K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0143%	8h	311.83	−0.007%	$14K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0212%	4h	310.86	−0.317%	$3.1M	$8.0M	50x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.16	+0.099%	$101K	$394K	5x	as long as short
Variational Omni TAO	+0.0294%	4h	311.14	−0.228%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0304%	1h	311.81	−0.014%	$904K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0340%	1h	311.69	−0.051%	$785K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.10	−0.241%	$4.5M	$10.7M	100x	as long as short
Phoenix TAO	+0.0457%	1h	311.10	−0.241%	$310K	$711K	5x	as long as short
Hyperliquid TAO	+0.0460%	1h	312.00	+0.048%	$91.7M	$107.7M	5x	as long as short
01 Exchange TAOUSD	+0.0480%	1h	312.05	+0.064%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0489%	1h	310.83	−0.327%	$309K	$885K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0527%	1h	310.73	−0.359%	$15K	$1.8M	25x	as long as short
Lighter TAO	+0.0584%	1h	311.89	+0.014%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.80	−0.015%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.91	+0.019%	$442K	$653K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.298%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	311.23	−0.199%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	315.24	+1.087%	$23K	$2K	12x	as long as short