Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0065%/8h= −7.2% APRpaid last 24h −0.013%

Price spread now: Popdex against Paradex−0.036%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 Popdex

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Popdex is 0.036% cheaper against Paradex than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	313.12	0.0161	pay 0.0161% / 8h	3h 15m	$14K	$1K	10x
Short	Popdex TAOUSDT	313.01	0.0096	get 0.0012% / 1h	15m 26s	$46K	$656K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$13.73
Price spread: −0.036% → 0.000%: −$3.63
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$27.76
Costs to cover: 0.104%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Popdex: live order book, 39 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 Popdex live order book, 39 min ago	1.75 bp	9.5 bp −$9	83.9 bp −$839	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
Kraken Futures PF_TAOUSD	−0.0347%	1h	312.44	−0.219%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.57	−0.176%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0011%	1h	312.57	−0.177%	$125K	$85K	5x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	313.01	−0.036%	$46K	$656K	20x
Katana Perps TAO-USD	+0.0099%	8h	312.88	−0.078%	$640	$845K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.95	−0.055%	$356K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.78	−0.110%	$89.5M	$501.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.80	−0.103%	$26.1M	$121.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.70	−0.135%	$13.3M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.93	−0.062%	$103.2M	$145.6M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	312.81	−0.100%	$17.9M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.73	−0.126%	$35.1M	$56.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.34	+0.070%	$42K	$314K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.61	+0.155%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.93	−0.062%	$82K	$905K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.91	−0.068%	$12K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.33	−0.253%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.20	−0.295%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.63	−0.158%	$3.1M	$8.0M	50x	as long as short
BingX TAO-USDT	+0.0104%	4h	312.77	−0.113%	—	$33.7M	—	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.71	−0.131%	$172K	$998	3x	as long as short
Aster TAOUSDT	+0.0114%	4h	312.92	−0.065%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	312.61	−0.164%	$52K	$290K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0124%	4h	312.88	−0.079%	$531K	$956K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0136% / S +0.0132%	1h	312.52	−0.192%	$422K	—	100x	as long as short
Paradex TAO-USD-PERPlong	+0.0161%	8h	313.12	long leg	$14K	$1K	10x
Bybit TAOUSDT	+0.0187%	4h	312.81	−0.100%	$67.4M	$150.6M	50x	as long as short
Arcus TAO-USD	+0.0231%	1h	313.37	+0.079%	$101K	$394K	5x	as long as short
Extended TAO-USD	+0.0320%	1h	313.08	−0.012%	$914K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0323%	4h	312.65	−0.151%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0330%	1h	312.91	−0.067%	$790K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.40	+0.088%	$4.5M	$10.8M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0428%	1h	312.50	−0.198%	$13K	$1.8M	25x	as long as short
Phoenix TAO	+0.0457%	1h	313.70	+0.184%	$312K	$711K	5x	as long as short
Hyperliquid TAO	+0.0477%	1h	313.11	−0.004%	$92.0M	$107.8M	5x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	313.27	+0.047%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0505%	1h	312.63	−0.158%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0640%	1h	313.16	+0.012%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.86	−0.086%	$360	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	313.14	+0.004%	$444K	$647K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.703%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	313.56	+0.139%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	316.67	+1.133%	$23K	$2K	12x	as long as short