Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0396%/8h= +43.3% APRpaid last 24h +0.045%

Price spread now: Nado against Binance−0.198%7-day average +0.002% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.056%+$6 on $10k

Price spread, last 3 days (all we have)+0.396%+$40 · spread now −0.198%, 7d avg +0.002%

Together, before fees+0.452%+ Points / potential airdropNado: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.200% cheaper against Binance than usual: you would sell low and buy high (spread −0.198% now, against its 7-day average of +0.002%). If the spread goes back, that is −$20 on $10k: about 40 hours of funding at the current rate (+$12 a day). At the pace of the last 3 days (+0.056% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.056% in total (about 6.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TAOUSDT	313.74	0.0100	pay 0.0050% / 4h	49m 22s	$88.8M	$421.8M	75x
Short	Nado TAO-PERP	313.12	0.0496	get 0.0062% / 1h	49m 22s	$838K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Binance. 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 BinancebpFee NadobpOrdersPrice spread, now −0.198%Rate

Funding earned: $83.13
Price spread: −0.198% → +0.002%: −$20.02
Slippage, 4 orders: −$12.9
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $33.21
Costs to cover: 0.299%
Break-even: 4.2 days

Slippage from Binance: live order book, 9 min ago; Nado: 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 Binance live order book, 9 min ago	0.16 bp	6.8 bp −$7	17.7 bp −$177	37.1 bp −$3,714	doesn't fit
Sell Nado live order book, 4 min ago	0.16 bp	7.0 bp −$7	23.1 bp −$231	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	−0.4722%	1h	314.01	+0.087%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.16	−0.186%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.65	−0.030%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	308.73	−1.597%	$22K	$259	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.14	−0.191%	$40K	$549K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.58	−0.051%	$371K	$372K	10x	as long as short
Binance TAOUSDTlong	+0.0100%	4h	313.74	long leg	$88.8M	$421.8M	75x
Bybit TAOUSDT	+0.0100%	4h	313.75	+0.003%	$61.3M	$123.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.80	+0.019%	$25.2M	$99.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.60	−0.045%	$12.6M	$48.7M	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	313.84	+0.032%	$121.0M	$126.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.22	−0.166%	$19.1M	$27.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.23	−0.163%	$35.0M	$46.2M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.87	+0.041%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.44	−0.096%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.12	+0.120%	$519K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.37	−0.118%	$47K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.79	+0.016%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.60	−0.045%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.01	+0.086%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.04	−0.223%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.58	−0.049%	$172K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0105%	1h	313.49	−0.080%	$77K	$524K	5x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.28	−0.147%	$959	$536K	5x	as long as short
Bullet TAO-USD	+0.0134%	1h	313.88	+0.043%	$11K	$17K	20x	as long as short
Variational Omni TAO	+0.0173%	4h	313.59	−0.049%	$3.8M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	313.32	−0.133%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.61	−0.041%	$83K	$626K	5x	as long as short
Aster TAOUSDT	+0.0210%	4h	313.41	−0.106%	$1.1M	$7.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0291%	1h	313.46	−0.088%	$19K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.65	−0.029%	$4.3M	$9.7M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.30	−0.141%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.59	−0.048%	$449K	—	100x	as long as short
Nado TAO-PERPshort	+0.0496%	1h	313.12	−0.198%	$838K	$2.0M	10x
Phoenix TAO	+0.0537%	1h	312.70	−0.331%	$334K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0575%	1h	313.50	−0.076%	$300K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.38	−0.114%	$360	—	20x	as long as short
Extended TAO-USD	+0.0816%	1h	313.32	−0.134%	$864K	$2.1M	25x	as long as short
01 Exchange TAOUSD	+0.0840%	1h	313.52	−0.070%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.34	+0.191%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.37	−0.120%	$431K	$536K	5x	as long as short
Lighter TAO	+0.1496%	1h	313.77	+0.011%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2188%	1h	314.01	+0.086%	$98.4M	$82.8M	5x	as long as short