Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1501%/8h= +164.4% APRpaid last 24h +0.179%

Price spread now: Hyperliquid against Paradex−0.019%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 Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$45 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	311.36	0.0187	pay 0.0187% / 8h	23m 36s	$14K	$1K	10x
Short	Hyperliquid TAO	311.30	0.1688	get 0.0211% / 1h	23m 36s	$96.9M	$83.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.019%Rate

Funding earned: $315.21
Price spread: −0.019% → 0.000%: −$1.93
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $300.28
Costs to cover: 0.130%
Break-even: 0.3 days

Slippage unknown: Paradex: no order-book sample; Hyperliquid: live order book, 10 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 Hyperliquid live order book, 10 min ago	0.32 bp	5.4 bp −$5	7.2 bp −$72	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	−0.4493%	1h	315.57	+1.352%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	310.91	−0.143%	$124K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	310.88	−0.153%	$20K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+1.153%	$23K	$361	12x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0047%	1h	310.44	−0.296%	$20K	$1.5M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.46	+0.032%	$35K	$563K	20x	as long as short
Pacifica TAO	+0.0100%	1h	311.15	−0.067%	$368K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.49	+0.042%	$88.3M	$427.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.62	+0.084%	$61.2M	$125.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.40	+0.013%	$25.0M	$101.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	311.10	−0.083%	$12.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.25	−0.035%	$109.3M	$130.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	310.83	−0.170%	$18.4M	$27.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.16	−0.064%	$34.7M	$46.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.46	+0.032%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.02	+0.212%	$40K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.92	+0.821%	$521K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.77	+0.774%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.22	−0.045%	$76K	$476K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.09	−0.087%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	310.69	−0.215%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	310.68	−0.218%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.10	−0.083%	$127K	$408K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	310.69	−0.215%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.75	−0.196%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	311.35	−0.003%	$3K	$555K	5x	as long as short
Aster TAOUSDT	+0.0169%	4h	311.16	−0.065%	$1.1M	$7.9M	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	311.61	+0.080%	$82K	$565K	5x	as long as short
Paradex TAO-USD-PERPlong	+0.0187%	8h	311.36	long leg	$14K	$1K	10x
Variational Omni TAO	+0.0199%	4h	312.46	+0.353%	$4.0M	$7.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.00	+0.206%	$4.4M	$10.5M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0453%	1h	310.44	−0.297%	$5.7M	$19.9M	50x	as long as short
Nado TAO-PERP	+0.0459%	1h	311.01	−0.113%	$818K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0474% / S −0.0175%	1h	310.80	−0.179%	$446K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0515%	1h	310.70	−0.212%	$290K	$804K	10x	as long as short
Phoenix TAO	+0.0537%	1h	314.20	+0.912%	$329K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	311.60	+0.077%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.11	−0.081%	$358	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	311.43	+0.021%	$855K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.04	+0.540%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	311.50	+0.045%	$433K	$567K	5x	as long as short
Lighter TAO	+0.1240%	1h	311.43	+0.021%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAOshort	+0.1688%	1h	311.30	−0.019%	$96.9M	$83.9M	5x