Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0250%/8h= −27.3% APRpaid last 24h −0.014%

Price spread now: Bitget against Paradex+0.183%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bitget

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

The price spread pays, funding is against you. Bitget is 0.183% dearer against Paradex than usual: you sell high and buy low (spread +0.183% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	317.79	0.0350	pay 0.0350% / 8h	5h 53m	$14K	$1K	10x
Short	Bitget TAOUSDT	318.37	0.0100	get 0.0050% / 4h	1h 53m	$35.5M	$53.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Paradex. 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 ParadexbpFee BitgetbpOrdersPrice spread, now +0.183%Rate

Funding earned: −$52.4
Price spread: +0.183% → 0.000%: $18.33
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$50.07
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Bitget: live order book, 6 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Bitget live order book, 6 min ago	0.63 bp	15.2 bp −$15	20.4 bp −$204	36.4 bp −$3,639	doesn't fit

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 42 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	−0.2257%	1h	317.17	−0.194%	$168K	$40K	10x	as long as short
ApeX Omni TAOUSDT	−0.0750%	1h	314.06	−1.173%	$47K	$253K	50x	as long as short
dYdX TAO-USD	0.0000%	1h	317.50	−0.090%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.72	−0.020%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.80	+0.004%	$45K	$646K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.55	+0.240%	$92.1M	$467.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.40	+0.193%	$26.2M	$115.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.70	−0.027%	$13.0M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	318.50	+0.224%	$105.1M	$137.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.59	+0.253%	$18.3M	$30.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDTshort	+0.0100%	4h	318.37	+0.183%	$35.5M	$53.4M	50x
edgeX TAOUSDC	+0.0100%	4h	317.37	−0.132%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.62	−0.053%	$80K	$730K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.16	+0.117%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.88	+0.029%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.03	+0.076%	$130K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.23	+0.139%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.21	+0.133%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	317.75	−0.012%	$675	$735K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0165% / S +0.0104%	1h	317.76	−0.010%	$431K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0190%	4h	316.25	−0.483%	$526K	$946K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0247%	1h	318.25	+0.146%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0295%	4h	317.98	+0.062%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0331%	1h	318.17	+0.120%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERPlong	+0.0350%	8h	317.79	long leg	$14K	$1K	10x
Pacifica TAO	+0.0448%	1h	317.82	+0.010%	$376K	$393K	10x	as long as short
Phoenix TAO	+0.0504%	1h	317.80	+0.004%	$333K	$707K	5x	as long as short
Nado TAO-PERP	+0.0506%	1h	317.65	−0.042%	$765K	$2.1M	10x	as long as short
Arcus TAO-USD	+0.0509%	1h	318.14	+0.111%	$100K	$489K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0543%	1h	318.19	+0.127%	$14K	$1.6M	25x	as long as short
BingX TAO-USDT	+0.0686%	4h	318.74	+0.300%	—	$30.3M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.67	−0.036%	$365	—	20x	as long as short
Bybit TAOUSDT	+0.0736%	4h	318.66	+0.275%	$67.7M	$138.5M	50x	as long as short
01 Exchange TAOUSD	+0.0760%	1h	318.23	+0.139%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0865%	4h	319.02	+0.389%	$6.0M	$9.6M	—	as long as short
Backpack TAO_USDC_PERP	+0.0890%	1h	318.72	+0.293%	$322K	$802K	10x	as long as short
Extended TAO-USD	+0.0920%	1h	318.13	+0.108%	$900K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.28	+0.470%	$1.5M	$6.5M	50x	as long as short
Lighter TAO	+0.1048%	1h	318.77	+0.309%	$1.6M	$6.1M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	317.89	+0.031%	$450K	$626K	5x	as long as short
Hyperliquid TAO	+0.1460%	1h	318.19	+0.127%	$100.6M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+0.992%	$23K	$2K	12x	as long as short