Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0055%/8h= −6.1% APRpaid last 24h +0.034%

Price spread now: Nado against Aster+0.101%7-day average −0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.058%−$6 on $10k

Price spread, last 7 days−0.296%−$30 · spread now +0.101%, 7d avg −0.072%

Together, before fees−0.354%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.173% dearer against Aster than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of −0.072%): +$17 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	314.78	0.0155	pay 0.0078% / 4h	3h 58m	$1.2M	$10.4M	50x
Short	Nado TAO-PERP	315.10	0.0100	get 0.0012% / 1h	58m 59s	$801K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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 AsterbpFee NadobpOrdersPrice spread, now +0.101%Rate

Funding earned: −$11.61
Price spread: +0.101% → −0.072%: $17.26
Slippage, 4 orders: −$14.21
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$23.56
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Nado: live order book, 5 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 Aster live order book, 5 min ago	0.95 bp	8.5 bp −$8	19.3 bp −$193	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	0.63 bp	5.6 bp −$6	14.9 bp −$149	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
Kraken Futures PF_TAOUSD	−0.0345%	1h	314.66	−0.038%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	314.89	+0.034%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.61	−0.056%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.98	+0.064%	$43K	$659K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.86	+0.025%	$2K	$800K	5x	as long as short
Nado TAO-PERPshort	+0.0100%	1h	315.10	+0.101%	$801K	$2.2M	10x
Hyperliquid TAO	+0.0100%	1h	314.89	+0.035%	$92.6M	$106.7M	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.81	+0.009%	$90.9M	$495.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.96	+0.057%	$67.9M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	+0.006%	$26.0M	$120.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk TAO-USD	+0.0100%	1h	314.80	+0.006%	$167K	$2K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.40	−0.121%	$13.0M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.83	+0.016%	$100.9M	$143.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.73	−0.016%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.56	−0.070%	$35.2M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.82	+0.013%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.12	+0.107%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.30	+0.166%	$535K	$969K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.19	+0.130%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.80	+0.006%	$77K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.86	+0.026%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.79	+0.003%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.46	−0.102%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.81	+0.010%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.86	+0.027%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	314.68	−0.032%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	314.62	−0.050%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0148%	8h	315.25	+0.148%	$14K	$1K	10x	as long as short
Aster TAOUSDTlong	+0.0155%	4h	314.78	long leg	$1.2M	$10.4M	50x
Extended TAO-USD	+0.0208%	1h	314.69	−0.028%	$923K	$2.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0274%	1h	314.75	−0.010%	$313K	$914K	10x	as long as short
01 Exchange TAOUSD	+0.0296%	1h	315.07	+0.092%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.69	−0.029%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.47	+0.219%	$101K	$440K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.09	+0.099%	$359K	$412K	10x	as long as short
Lighter TAO	+0.0384%	1h	314.94	+0.051%	$1.5M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0396%	4h	315.16	+0.121%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0427%	1h	314.82	+0.012%	$22K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.229%	$314K	$695K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.95	+0.053%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	315.14	+0.116%	$439K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	315.53	+0.238%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+0.918%	$23K	$2K	12x	as long as short