Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.004%

Price spread now: Deribit against Paradex−0.369%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Deribit

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. Deribit is 0.369% cheaper against Paradex than usual: you would sell low and buy high (spread −0.369% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$37 on $10k: about 8.3 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	324.04	0.0300	pay 0.0300% / 8h	2h 05m	$15K	$1K	10x
Short	Deribit TAO_USDC-PERPETUAL	322.85	0.0448	get 0.0056% / 1h	5m 17s	$14K	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.369%Rate

Funding earned: $31.03
Price spread: −0.369% → 0.000%: −$36.9
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$16.87
Costs to cover: 0.110%
Break-even: 10.8 days

Slippage unknown: Paradex: no order-book sample; Deribit: live order book, 4 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 Deribit live order book, 4 min ago	5.93 bp	10.1 bp −$10	16.0 bp −$160	doesn't fit	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 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	−0.1195%	1h	319.01	−1.552%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	322.61	−0.443%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0028%	1h	323.78	−0.083%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	322.80	−0.384%	$26.9M	$128.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.40	−0.507%	$14.2M	$52.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.42	−0.501%	$17.7M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.72	−0.408%	$36.5M	$57.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.63	−0.436%	$83K	$965K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.65	−0.430%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	322.15	−0.584%	$118K	$566K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	322.81	−0.381%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	323.85	−0.060%	$3K	$957K	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	322.90	−0.353%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	322.87	−0.362%	$53K	$291K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	323.28	−0.236%	$42K	$679K	20x	as long as short
edgeX TAOUSDC	+0.0123%	4h	321.43	−0.808%	$42K	$316K	10x	as long as short
MEXC TAO_USDT	+0.0124%	4h	322.63	−0.436%	$103.2M	$148.9M	300x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0142%	1h	322.67	−0.424%	$433K	—	100x	as long as short
Binance TAOUSDT	+0.0135%	4h	323.07	−0.300%	$93.4M	$516.8M	75x	as long as short
Pacifica TAO	+0.0233%	1h	324.18	+0.042%	$369K	$421K	10x	as long as short
Nado TAO-PERP	+0.0285%	1h	322.62	−0.440%	$814K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0292%	4h	322.72	−0.408%	$1.3M	$10.8M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0295%	1h	323.08	−0.296%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERPlong	+0.0300%	8h	324.04	long leg	$15K	$1K	10x
Bullet TAO-USD	+0.0326%	1h	323.12	−0.286%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0375%	4h	322.90	−0.353%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	322.95	−0.337%	—	$33.9M	—	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0448%	1h	322.85	−0.369%	$14K	$1.8M	25x
Bybit TAOUSDT	+0.0462%	4h	323.03	−0.313%	$70.9M	$154.3M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.626%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	324.01	−0.010%	$104K	$371K	5x	as long as short
Extended TAO-USD	+0.0504%	1h	322.86	−0.365%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	−0.168%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	−0.144%	$5.7M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0529%	1h	321.20	−0.877%	$47K	$257K	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	322.51	−0.473%	$371	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	323.94	−0.032%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	323.23	−0.252%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0819%	1h	322.84	−0.371%	$95.1M	$109.4M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0847%	1h	324.63	+0.181%	$322K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	325.00	+0.295%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.25	−0.246%	$464K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	−0.131%	$24K	$2K	12x	as long as short