Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.055%

Price spread now: Paradex against gTrade (Gains Network)−0.194%103s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)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

Funding pays, the price is against you. Paradex is 0.194% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.194% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 3.6 days of funding at the current rate (+$5 a day). The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) TAO/USD	314.00	L +0.0004% / S −0.0003%	pay 0.0000% / 1h	26m 37s	$19K	—	150x
Short	Paradex TAO-USD-PERP	313.39	0.0184	get 0.0184% / 8h	5h 26m	$14K	$876	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee ParadexbpOrdersPrice spread, now −0.194%Rate

Funding earned: $37.82
Price spread: −0.194% → 0.000%: −$19.44
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $4.37
Costs to cover: 0.140%
Break-even: 6.2 days

Slippage unknown: gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

gTrade (Gains Network) 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 exchanges

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/USDlong	L +0.0004% / S −0.0003%	1h	314.00	long leg	$19K	—	150x
Popdex TAOUSDT	+0.0096%	1h	313.47	−0.169%	$52K	$633K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.30	−0.224%	$26.6M	$126.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.20	−0.255%	$15.8M	$48.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.40	−0.192%	$17.2M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.10	−0.287%	$35.5M	$55.7M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.37	+0.117%	$44K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.56	−0.141%	$69K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.32	−0.217%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.72	−0.090%	$111K	$556K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0103%	8h	313.38	−0.198%	$884	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	313.21	−0.251%	$949K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0112%	1h	313.61	−0.125%	$172K	$998	3x	as long as short
Lighter TAO	+0.0120%	1h	313.42	−0.184%	$1.6M	$6.7M	5x	as long as short
Binance TAOUSDT	+0.0123%	4h	313.47	−0.170%	$92.3M	$511.0M	75x	as long as short
MEXC TAO_USDT	+0.0124%	4h	313.35	−0.208%	$109.2M	$149.4M	300x	as long as short
edgeX TAOUSDC	+0.0126%	4h	314.15	+0.047%	$42K	$323K	10x	as long as short
BingX TAO-USDT	+0.0130%	4h	313.29	−0.227%	—	$38.1M	—	as long as short
Bybit TAOUSDT	+0.0135%	4h	313.43	−0.182%	$68.6M	$155.7M	50x	as long as short
Paradex TAO-USD-PERPshort	+0.0184%	8h	313.39	−0.194%	$14K	$876	10x
GRVT TAO_USDT_Perp	+0.0218%	4h	313.65	−0.111%	$535K	$795K	10x	as long as short
Bullet TAO-USD	+0.0235%	1h	313.64	−0.116%	$12K	$16K	20x	as long as short
Pacifica TAO	+0.0240%	1h	313.46	−0.174%	$371K	$456K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0247%	4h	313.52	−0.154%	$52K	$262K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0262%	1h	313.53	−0.149%	$31K	$1.9M	25x	as long as short
Phemex TAOUSDT	+0.0272%	4h	313.66	−0.109%	$3.2M	$8.2M	50x	as long as short
Aster TAOUSDT	+0.0280%	4h	313.32	−0.217%	$1.2M	$11.3M	50x	as long as short
Nado TAO-PERP	+0.0346%	1h	313.82	−0.056%	$669K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0358% / S −0.0107%	1h	313.30	−0.223%	$368K	—	100x	as long as short
BloFin TAO-USDT	+0.0365%	4h	313.63	−0.118%	$4.8M	$10.5M	100x	as long as short
Variational Omni TAO	+0.0466%	4h	313.94	−0.019%	$5.6M	$9.9M	—	as long as short
Hyperliquid TAO	+0.0480%	1h	313.62	−0.122%	$94.3M	$106.7M	5x	as long as short
01 Exchange TAOUSD	+0.0496%	1h	313.65	−0.112%	$3K	$2K	5x	as long as short
dYdX TAO-USD	+0.0564%	1h	313.36	−0.206%	$264K	$230K	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	313.67	−0.106%	$100K	$311K	5x	as long as short
Phoenix TAO	+0.0650%	1h	314.10	+0.031%	$316K	$710K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0665%	1h	313.65	−0.112%	$299K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	313.52	−0.152%	$428K	$671K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	313.80	−0.064%	$1.1M	$7.5M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	313.51	−0.156%	$361	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0939%	1h	313.63	−0.117%	$6.3M	$19.6M	50x	as long as short
Bulk TAO-USD	+0.1104%	1h	314.29	+0.092%	$167K	$662	10x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	318.52	+1.439%	$23K	$2K	12x	as long as short