Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h −0.072%

Price spread now: Polymarket Perps against BloFin+0.176%7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.513%−$51 on $10k

Price spread, last 3 days (all we have)−0.232%−$23 · spread now +0.176%, 7d avg −0.034%

Together, before fees−0.745%−$75 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.209% dearer against BloFin than usual: you sell high and buy low (spread +0.176% now, against its 7-day average of −0.034%): +$21 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.6 days. At the pace of the last 7 days (−0.513% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	313.38	0.0340	pay 0.0170% / 4h	3h 00m	$4.4M	$10.7M	100x
Short	Polymarket Perps TAO-USD	313.93	0.0259	get 0.0032% / 1h	0m 49s	$92K	$633K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now +0.176%Rate

Funding earned: −$17.05
Price spread: +0.176% → −0.034%: $20.94
Slippage, 4 orders: −$17.39
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$33.5
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Polymarket Perps: 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 BloFin live order book, 3 min ago	0.16 bp	10.4 bp −$10	19.9 bp −$199	44.1 bp −$4,408	doesn't fit
Sell Polymarket Perps live order book, 7 min ago	2.84 bp	8.7 bp −$9	9.5 bp −$95	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
Bulk TAO-USD	−0.1228%	1h	316.14	+0.881%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.92	+0.172%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	313.53	+0.047%	$12K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0037%	1h	313.45	+0.023%	$16K	$1.5M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.76	+0.121%	$42K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.61	−0.246%	$89.8M	$453.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.50	−0.281%	$25.5M	$108.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.40	−0.313%	$12.7M	$51.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.94	−0.140%	$100.6M	$138.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.85	−0.169%	$18.2M	$29.8M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	312.79	−0.188%	$34.8M	$51.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.16	+0.568%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.35	+0.948%	$524K	$958K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.60	+0.389%	$48K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.55	+0.054%	$56K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.42	+0.013%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.00	+0.198%	$125K	$422K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.05	+0.213%	$172K	$998	3x	as long as short
Bullet TAO-USD	+0.0112%	1h	313.83	+0.144%	$12K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	313.76	+0.121%	$1K	$648K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0105%	1h	313.46	+0.026%	$442K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	314.21	+0.265%	$372K	$376K	10x	as long as short
Aster TAOUSDT	+0.0191%	4h	312.69	−0.220%	$1.3M	$9.0M	50x	as long as short
Arcus TAO-USD	+0.0201%	1h	314.17	+0.252%	$83K	$550K	5x	as long as short
Paradex TAO-USD-PERP	+0.0239%	8h	314.07	+0.222%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USDshort	+0.0259%	1h	313.93	+0.176%	$92K	$633K	5x
BloFin TAO-USDTlong	+0.0340%	4h	313.38	long leg	$4.4M	$10.7M	100x
Kraken Futures PF_TAOUSD	+0.0489%	1h	313.40	+0.007%	$5.6M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	313.80	+0.134%	$328K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	313.96	+0.185%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	316.84	+1.104%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0606%	4h	314.06	+0.217%	$5.4M	$8.7M	—	as long as short
Phemex TAOUSDT	+0.0668%	4h	313.70	+0.102%	$3.4M	$7.8M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	313.94	+0.177%	$361	—	20x	as long as short
BingX TAO-USDT	+0.0704%	4h	312.62	−0.243%	—	$30.8M	—	as long as short
Nado TAO-PERP	+0.0749%	1h	313.98	+0.192%	$778K	$2.1M	10x	as long as short
Bybit TAOUSDT	+0.0772%	4h	312.69	−0.220%	$63.8M	$134.5M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0797%	1h	313.01	−0.118%	$316K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	314.47	+0.348%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1080%	1h	313.00	−0.121%	$910K	$2.4M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	313.82	+0.140%	$416K	$602K	5x	as long as short
Lighter TAO	+0.1432%	1h	313.96	+0.185%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1713%	1h	313.17	−0.067%	$100.2M	$91.8M	5x	as long as short