Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0070%/8h= +7.7% APRpaid last 24h +0.010%

Price spread now: Paradex against Bullet+0.237%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on Paradex

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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 0.237% dearer against Bullet than usual: you sell high and buy low: +$24 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	Bullet TAO-USD	311.52	0.0100	pay 0.0013% / 1h	6m 43s	$12K	$17K	20x
Short	Paradex TAO-USD-PERP	312.26	0.0170	get 0.0170% / 8h	3h 06m	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bullet. 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 BulletbpFee ParadexbpOrdersPrice spread, now +0.237%Rate

Funding earned: $14.8
Price spread: +0.237% → 0.000%: $23.66
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: $26.47
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bullet: no order-book sample; 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 Bullet no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Bullet and 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
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.98	+0.147%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.29	−0.073%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0011%	1h	311.82	+0.096%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.01	+0.157%	$48K	$662K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	311.50	−0.006%	$2K	$857K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.41	+0.285%	$356K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.29	+0.247%	$89.2M	$502.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.20	+0.218%	$26.0M	$121.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.00	+0.154%	$13.4M	$50.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.35	+0.266%	$103.4M	$145.8M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	312.30	+0.250%	$17.5M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.03	+0.164%	$35.0M	$56.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.50	−0.007%	$41K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.94	+0.134%	$530K	$942K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.33	−0.061%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.63	+0.035%	$81K	$905K	5x	as long as short
Bullet TAO-USDlong	+0.0100%	1h	311.52	long leg	$12K	$17K	20x
SunX TAO-USDT	+0.0100%	4h	311.67	+0.048%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.54	+0.006%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.72	+0.064%	$3.1M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.79	+0.087%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0105%	4h	312.01	+0.157%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0113%	4h	311.69	+0.055%	$51K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0135% / S +0.0137%	1h	311.17	−0.112%	$414K	—	100x	as long as short
Paradex TAO-USD-PERPshort	+0.0170%	8h	312.26	+0.237%	$14K	$1K	10x
Arcus TAO-USD	+0.0231%	1h	312.47	+0.305%	$101K	$369K	5x	as long as short
BingX TAO-USDT	+0.0256%	4h	312.38	+0.276%	—	$33.8M	—	as long as short
Bybit TAOUSDT	+0.0293%	4h	312.31	+0.254%	$67.4M	$150.9M	50x	as long as short
Extended TAO-USD	+0.0304%	1h	312.21	+0.222%	$909K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0314%	1h	311.62	+0.031%	$786K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0325%	4h	312.94	+0.455%	$5.5M	$10.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.18	+0.212%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	311.70	+0.058%	$310K	$711K	5x	as long as short
Hyperliquid TAO	+0.0462%	1h	312.52	+0.321%	$91.7M	$108.0M	5x	as long as short
Bulk TAO-USD	+0.0468%	1h	310.75	−0.247%	$165K	$333	10x	as long as short
Backpack TAO_USDC_PERP	+0.0480%	1h	312.01	+0.157%	$310K	$885K	10x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	312.31	+0.254%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0493%	1h	311.84	+0.103%	$12K	$1.8M	25x	as long as short
Lighter TAO	+0.0608%	1h	312.60	+0.346%	$1.5M	$6.6M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.54	+0.007%	$358	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.10	+0.188%	$442K	$648K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.08	+0.180%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	316.67	+1.653%	$23K	$2K	12x	as long as short