Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0221%/8h= −24.2% APRpaid last 24h −0.010%

Price spread now: Paradex against Variational Omni−0.062%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Paradex

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 airdropVariational Omni: Active · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Paradex is 0.062% cheaper against Variational Omni than usual: you would sell low and buy high (−$6 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	Variational Omni TAO	323.58	0.0516	pay 0.0258% / 4h	2h 02m	$5.7M	$10.1M	—
Short	Paradex TAO-USD-PERP	323.38	0.0295	get 0.0295% / 8h	2h 02m	$15K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Variational Omni. 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 Variational OmnibpFee ParadexbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$46.37
Price spread: −0.062% → 0.000%: −$6.22
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$56.59
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Paradex: no order-book sample. 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 Variational Omni RFQ quote, 1 min ago	2.86 bp	doesn't fit	11.3 bp −$113	36.5 bp −$3,650	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	−0.1195%	1h	319.01	−1.411%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.17	−0.127%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0027%	1h	323.34	−0.075%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.80	+0.068%	$27.0M	$129.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.60	+0.007%	$14.3M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.89	+0.096%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.60	+0.007%	$36.5M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.42	−0.049%	$83K	$971K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.08	−0.154%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	323.18	−0.123%	$118K	$566K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.80	+0.068%	$3.3M	$8.1M	50x	as long as short
Popdex TAOUSDT	+0.0104%	1h	323.44	−0.043%	$41K	$687K	20x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	323.30	−0.086%	$3K	$962K	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	323.62	+0.014%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	323.53	−0.015%	$53K	$291K	10x	as long as short
edgeX TAOUSDC	+0.0124%	4h	323.29	−0.088%	$43K	$316K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0143%	1h	323.07	−0.157%	$435K	—	100x	as long as short
MEXC TAO_USDT	+0.0144%	4h	323.91	+0.102%	$103.8M	$149.1M	300x	as long as short
Binance TAOUSDT	+0.0144%	4h	324.04	+0.141%	$93.6M	$517.7M	75x	as long as short
Pacifica TAO	+0.0233%	1h	323.54	−0.012%	$368K	$421K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0294%	1h	324.15	+0.178%	$6.1M	$21.6M	50x	as long as short
Nado TAO-PERP	+0.0295%	1h	323.33	−0.078%	$816K	$2.2M	10x	as long as short
Paradex TAO-USD-PERPshort	+0.0295%	8h	323.38	−0.062%	$15K	$1K	10x
Aster TAOUSDT	+0.0305%	4h	323.91	+0.102%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USD	+0.0323%	1h	323.46	−0.036%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0363%	1h	323.48	−0.030%	$24K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0384%	4h	323.38	−0.061%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0406%	4h	323.93	+0.109%	—	$34.0M	—	as long as short
Bybit TAOUSDT	+0.0441%	4h	323.87	+0.090%	$71.1M	$154.6M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.483%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	323.71	+0.041%	$111K	$377K	5x	as long as short
ApeX Omni TAOUSDT	+0.0495%	1h	323.55	−0.009%	$47K	$257K	50x	as long as short
Extended TAO-USD	+0.0496%	1h	323.83	+0.078%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	−0.024%	$322K	$713K	5x	as long as short
Variational Omni TAOlong	+0.0516%	4h	323.58	long leg	$5.7M	$10.1M	—
Reya TAORUSDPERP	+0.0697%	1h	323.45	−0.040%	$372	—	20x	as long as short
Lighter TAO	+0.0800%	1h	324.19	+0.187%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0808%	1h	324.22	+0.198%	$95.7M	$109.6M	5x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	324.06	+0.149%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0850%	1h	324.07	+0.152%	$321K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	324.00	+0.130%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.40	−0.054%	$465K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.013%	$24K	$2K	12x	as long as short