TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0126%/8h= −13.8% APRnext payment −$0.16 per $10,000 · paid last 24h +0.011%

Price spread now: Nado against Backpack+0.055%7-day average −0.040% · 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−$27as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Backpack Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.090%+$9 · spread now +0.055%, 7d avg −0.040%

Together, before fees+0.087%+ Points / potential airdropNado: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.095% dearer against Backpack than usual: you sell high and buy low (spread +0.055% now, against its 7-day average of −0.040%): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 3 days (−0.004% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TAO_USDC_PERP	315.90	0.0545	pay 0.0068% / 1h	2m 54s	$297K	$804K	10x
Short	Nado TAO-PERP	316.07	0.0419	get 0.0052% / 1h	2m 54s	$858K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Backpack. 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 BackpackbpFee NadobpOrdersPrice spread, now +0.055%Rate

Funding earned: −$26.52
Price spread: +0.055% → −0.040%: $9.49
Slippage, 4 orders: −$19.2
Fee Backpack: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$53.23
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Backpack: live order book, 11 min ago; Nado: live order book, 1 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 Backpack live order book, 11 min ago	2.57 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	2.53 bp	10.1 bp −$10	26.4 bp −$264	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	−0.2086%	1h	311.96	−1.247%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.43	+0.169%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.72	−0.057%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	315.12	−0.247%	$23K	$374	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.94	+0.013%	$39K	$567K	20x	as long as short
Pacifica TAO	+0.0100%	1h	316.61	+0.225%	$374K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.43	−0.147%	$89.5M	$431.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.69	−0.066%	$64.8M	$128.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.60	−0.095%	$25.4M	$103.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	−0.222%	$12.6M	$50.6M	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	315.28	−0.196%	$111.3M	$132.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.41	−0.155%	$18.8M	$27.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.20	−0.222%	$35.2M	$47.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.44	−0.146%	—	$30.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.07	−0.896%	$41K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.90	−0.951%	$524K	$952K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.33	−1.130%	$47K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.97	+0.022%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.91	+0.003%	$61K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.36	−0.171%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.16	+0.082%	$129K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.53	−0.117%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.31	+0.131%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	315.93	+0.009%	$1K	$575K	5x	as long as short
Polymarket Perps TAO-USD	+0.0111%	1h	316.19	+0.092%	$77K	$450K	5x	as long as short
Aster TAOUSDT	+0.0162%	4h	315.37	−0.168%	$1.1M	$7.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	315.63	−0.087%	$450K	—	100x	as long as short
Arcus TAO-USD	+0.0186%	1h	316.39	+0.155%	$84K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0198%	8h	316.64	+0.235%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0220%	4h	312.31	−1.136%	$3.9M	$7.1M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.59	−0.098%	$4.4M	$10.6M	100x	as long as short
Nado TAO-PERPshort	+0.0419%	1h	316.07	+0.055%	$858K	$2.0M	10x
Kraken Futures PF_TAOUSD	+0.0445%	1h	315.65	−0.078%	$5.8M	$19.9M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0446%	1h	315.77	−0.040%	$25K	$1.5M	25x	as long as short
Phoenix TAO	+0.0537%	1h	315.70	−0.063%	$330K	$521K	5x	as long as short
Backpack TAO_USDC_PERPlong	+0.0545%	1h	315.90	long leg	$297K	$804K	10x
01 Exchange TAOUSD	+0.0592%	1h	316.12	+0.070%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	315.80	−0.032%	$363	—	20x	as long as short
Extended TAO-USD	+0.0880%	1h	315.28	−0.195%	$926K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	317.76	+0.589%	$1.5M	$5.9M	50x	as long as short
Lighter TAO	+0.1192%	1h	316.03	+0.042%	$1.7M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	316.00	+0.033%	$418K	$585K	5x	as long as short
Hyperliquid TAO	+0.1590%	1h	316.29	+0.123%	$99.1M	$84.8M	5x	as long as short