Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Polymarket Perps+0.255%45s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.401% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.506%+$51 on $10k

Price spread, last 3 days (all we have)−0.115%−$12 · spread now +0.255%, 7d avg +0.027%

Together, before fees+0.390%+$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.228% dearer against Polymarket Perps than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.027%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps TAO-USD	313.34	0.0100	pay 0.0013% / 1h	31m 33s	$90K	$636K	5x
Short	BloFin TAO-USDT	314.14	0.0340	get 0.0170% / 4h	3h 31m	$4.3M	$9.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.255%Rate

Funding earned: $50.38
Price spread: +0.255% → +0.027%: $22.82
Slippage, 4 orders: −$20.07
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $33.14
Costs to cover: 0.401%
Break-even: 2.4 days

Slippage from Polymarket Perps: live order book, 16 min ago; BloFin: live order book, 3 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, 16 min ago	2.89 bp	7.0 bp −$7	10.3 bp −$103	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	5.75 bp	13.0 bp −$13	20.3 bp −$203	doesn't fit	doesn't fit

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	−1.0220%	1h	313.13	−0.066%	$209K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.78	+0.140%	$132K	$95K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	313.02	−0.101%	$27K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.26	+0.294%	$37K	$507K	20x	as long as short
Pacifica TAO	+0.0100%	1h	314.14	+0.254%	$365K	$396K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.23	+0.283%	$89.0M	$381.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.38	+0.332%	$60.3M	$112.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.10	+0.243%	$25.8M	$89.2M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	314.49	+0.367%	$142K	$585K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.20	+0.274%	$12.5M	$47.3M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	314.26	+0.294%	$106.4M	$115.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.02	+0.217%	$20.2M	$24.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.09	+0.239%	$35.3M	$42.1M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.35	+0.322%	—	$29.9M	—	as long as short
Variational Omni TAO	+0.0100%	4h	313.60	+0.083%	$3.5M	$6.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.87	+0.169%	$41K	$275K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.87	+0.489%	$561K	$947K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.08	+0.236%	$48K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.15	−0.060%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.28	−0.019%	$60K	$277K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.55	+0.067%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.26	+0.294%	$125K	$354K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.12	+0.249%	$3.3M	$7.9M	50x	as long as short
Polymarket Perps TAO-USDlong	+0.0100%	1h	313.34	long leg	$90K	$636K	5x
Aevo TAO-PERP	+0.0104%	1h	313.74	+0.129%	$172K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0119%	1h	313.38	+0.011%	$17K	$1.3M	25x	as long as short
Katana Perps TAO-USD	+0.0120%	8h	314.33	+0.316%	$898	$378K	5x	as long as short
Paradex TAO-USD-PERP	+0.0195%	8h	314.32	+0.312%	$15K	$992	10x	as long as short
Aster TAOUSDT	+0.0213%	4h	313.90	+0.177%	$1.7M	$7.1M	50x	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	314.14	+0.255%	$4.3M	$9.4M	100x
Phoenix TAO	+0.0365%	1h	313.20	−0.045%	$332K	$326K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0392%	1h	314.14	+0.254%	$6.3M	$17.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0490% / S −0.0188%	1h	312.93	−0.132%	$463K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0576%	1h	314.81	+0.469%	$403K	$555K	10x	as long as short
Extended TAO-USD	+0.0584%	1h	314.41	+0.341%	$937K	$1.8M	25x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	314.82	+0.472%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0683%	1h	314.36	+0.325%	$1.1M	$1.5M	10x	as long as short
RISEx TAO/USDC	+0.0688%	1h	314.52	+0.378%	$412K	$526K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	313.15	−0.061%	$360	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0936%	1h	313.71	+0.118%	$1.5M	$5.4M	50x	as long as short
Lighter TAO	+0.2016%	1h	314.74	+0.446%	$2.0M	$3.6M	5x	as long as short
Hyperliquid TAO	+0.2505%	1h	314.94	+0.511%	$95.8M	$66.9M	5x	as long as short
Injective TAO/USDC PERP	+0.3384%	1h	316.14	+0.894%	$23K	$137	12x	as long as short