Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0564%/8h= +61.7% APRpaid last 24h +0.039%

Price spread now: Extended against Paradex−0.087%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 Extended

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 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.087% cheaper against Paradex than usual: you would sell low and buy high (spread −0.087% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 12 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	315.55	0.0364	pay 0.0364% / 8h	6h 16m	$14K	$1K	10x
Short	Extended TAO-USD	315.27	0.0928	get 0.0116% / 1h	16m 44s	$903K	$2.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.087%Rate

Funding earned: $118.4
Price spread: −0.087% → 0.000%: −$8.66
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $100.74
Costs to cover: 0.090%
Break-even: 1.0 days

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 2 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 Extended live order book, 2 min ago	0.79 bp	8.4 bp −$8	10.7 bp −$107	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 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
dYdX TAO-USD	0.0000%	1h	315.80	+0.081%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.12	−0.453%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.02	−0.167%	$43K	$634K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.07	+0.166%	$90.8M	$467.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	+0.176%	$26.1M	$113.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.10	−0.141%	$12.9M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.40	−0.046%	$111.6M	$139.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.38	−0.052%	$18.0M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.70	+0.049%	$35.3M	$53.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.93	−0.195%	$35K	$300K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	314.80	−0.236%	$47K	$253K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.32	−0.388%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.38	−0.369%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.22	−0.103%	$129K	$473K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.47	−0.341%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.87	−0.213%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	314.97	−0.182%	$2K	$712K	5x	as long as short
Polymarket Perps TAO-USD	+0.0119%	1h	314.91	−0.201%	$79K	$682K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0168%	1h	314.39	−0.365%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0099%	1h	314.14	−0.446%	$430K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0176%	4h	315.62	+0.024%	$520K	$954K	10x	as long as short
Bullet TAO-USD	+0.0248%	1h	314.61	−0.296%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0255%	4h	315.21	−0.108%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	315.42	−0.040%	$371K	$384K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.40	−0.046%	$99K	$529K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0339%	1h	314.23	−0.416%	$22K	$1.5M	25x	as long as short
Paradex TAO-USD-PERPlong	+0.0364%	8h	315.55	long leg	$14K	$1K	10x
Injective TAO/USDC PERP	+0.0470%	1h	318.67	+0.990%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0532%	1h	314.68	−0.274%	$785K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	316.00	+0.144%	$330K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	315.27	−0.087%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.45	−0.347%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0800%	4h	315.52	−0.008%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0830%	4h	316.18	+0.201%	$66.5M	$138.0M	50x	as long as short
Variational Omni TAO	+0.0845%	4h	315.73	+0.057%	$5.5M	$8.9M	—	as long as short
Extended TAO-USDshort	+0.0928%	1h	315.27	−0.087%	$903K	$2.3M	25x
Backpack TAO_USDC_PERP	+0.0930%	1h	314.68	−0.274%	$318K	$810K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	314.96	−0.186%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	315.06	−0.153%	$450K	$631K	5x	as long as short
Hyperliquid TAO	+0.1347%	1h	316.37	+0.261%	$100.5M	$95.2M	5x	as long as short
Lighter TAO	+0.1432%	1h	316.43	+0.282%	$1.7M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−2.092%	$164K	$40K	10x	as long as short