Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Binance against Polymarket Perps+0.028%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$310.315% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−1.254%−$125 · spread now +0.028%, 7d avg −0.002%

Together, before fees−1.201%−$120 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.031% dearer against Polymarket Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TAO-USD	317.40	0.0100	pay 0.0013% / 1h	54m 36s	$79K	$729K	5x
Short	Binance TAOUSDT	317.49	0.0100	get 0.0050% / 4h	1h 54m	$91.7M	$467.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.002%: $3.07
Slippage, 4 orders: −$13.46
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$28.38
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 8 min ago; Binance: live order book, 4 min ago.

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 Polymarket Perps live order book, 8 min ago	1.42 bp	9.5 bp −$10	14.0 bp −$140	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.16 bp	8.4 bp −$8	14.9 bp −$149	31.5 bp −$3,152	doesn't fit

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	−0.072%	$168K	$40K	10x	as long as short
ApeX Omni TAOUSDT	−0.0750%	1h	314.06	−1.052%	$47K	$253K	50x	as long as short
dYdX TAO-USD	0.0000%	1h	317.56	+0.050%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.70	−0.219%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.49	+0.028%	$45K	$646K	20x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	317.49	+0.028%	$91.7M	$467.5M	75x
OKX TAO-USDT-SWAP	+0.0100%	8h	317.30	−0.032%	$26.2M	$115.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.60	+0.063%	$13.0M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.81	+0.129%	$104.7M	$137.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.15	+0.236%	$18.2M	$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 TAOUSDT	+0.0100%	4h	317.14	−0.082%	$35.4M	$53.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.73	−0.840%	$35K	$300K	10x	as long as short
Polymarket Perps TAO-USDlong	+0.0100%	1h	317.40	long leg	$79K	$729K	5x
Orderly PERP_TAO_USDC	+0.0100%	4h	316.94	−0.145%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.71	−0.217%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.03	−0.117%	$130K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.98	−0.132%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.32	−0.025%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	317.62	+0.069%	$675	$732K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0165% / S +0.0104%	1h	316.67	−0.230%	$430K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0190%	4h	316.25	−0.362%	$526K	$946K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0247%	1h	317.03	−0.115%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0292%	4h	317.65	+0.080%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0326%	1h	317.12	−0.088%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0350%	8h	317.99	+0.186%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0393%	1h	317.03	−0.118%	$14K	$1.6M	25x	as long as short
Pacifica TAO	+0.0448%	1h	318.17	+0.243%	$376K	$393K	10x	as long as short
Arcus TAO-USD	+0.0509%	1h	318.13	+0.230%	$100K	$489K	5x	as long as short
Nado TAO-PERP	+0.0545%	1h	317.66	+0.081%	$765K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	316.10	−0.410%	$332K	$707K	5x	as long as short
BingX TAO-USDT	+0.0686%	4h	317.81	+0.129%	—	$30.3M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.35	−0.016%	$365	—	20x	as long as short
Bybit TAOUSDT	+0.0737%	4h	317.57	+0.054%	$67.4M	$138.4M	50x	as long as short
01 Exchange TAOUSD	+0.0744%	1h	318.15	+0.236%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0835%	1h	317.84	+0.139%	$321K	$802K	10x	as long as short
Variational Omni TAO	+0.0865%	4h	319.02	+0.511%	$6.0M	$9.6M	—	as long as short
Extended TAO-USD	+0.0912%	1h	317.72	+0.101%	$900K	$2.3M	25x	as long as short
Lighter TAO	+0.1008%	1h	318.30	+0.282%	$1.6M	$6.1M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.28	+0.592%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	317.79	+0.122%	$450K	$626K	5x	as long as short
Hyperliquid TAO	+0.1438%	1h	318.43	+0.325%	$100.7M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.115%	$23K	$2K	12x	as long as short