Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.071%

Price spread now: Nado against Bitget−0.037%7-day average +0.027% · 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−$46as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.082%+$8 on $10k

Price spread, last 7 days−0.026%−$3 · spread now −0.037%, 7d avg +0.027%

Together, before fees+0.056%+ Points / potential airdropNado: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.064% cheaper against Bitget than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.027%). If the spread goes back, that is −$6 on $10k: about 2.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TAOUSDT	316.12	0.0100	pay 0.0050% / 4h	47m 34s	$35.3M	$55.8M	50x
Short	Nado TAO-PERP	316.00	0.0197	get 0.0025% / 1h	47m 34s	$808K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. 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 BitgetbpFee NadobpOrdersPrice spread, now −0.037%Rate

Funding earned: $20.34
Price spread: −0.037% → +0.027%: −$6.44
Slippage, 4 orders: −$20.56
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$25.65
Costs to cover: 0.396%
Break-even: 15.8 days

Slippage from Bitget: live order book, 1 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 Bitget live order book, 1 min ago	2.07 bp	14.5 bp −$15	27.4 bp −$274	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	0.63 bp	7.5 bp −$8	18.8 bp −$188	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	−0.0499%	1h	315.15	−0.307%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.21	−0.287%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.52	−0.506%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.40	−0.543%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.10	−0.006%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.07	−0.016%	$91.1M	$489.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	−0.006%	$26.0M	$119.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.90	−0.070%	$13.0M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.87	−0.079%	$105.3M	$142.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.52	−0.190%	$17.5M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDTlong	+0.0100%	4h	316.12	long leg	$35.3M	$55.8M	50x
edgeX TAOUSDC	+0.0100%	4h	314.23	−0.597%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.21	−0.604%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.77	−0.427%	$89K	$789K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.79	−0.421%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.33	−0.566%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.48	−0.519%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.36	−0.557%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.57	−0.492%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	315.75	−0.117%	$2K	$784K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	−0.407%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.63	−0.471%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0153% / S +0.0116%	1h	314.51	−0.509%	$427K	—	100x	as long as short
Bybit TAOUSDT	+0.0159%	4h	316.15	+0.009%	$68.9M	$146.3M	50x	as long as short
01 Exchange TAOUSD	+0.0192%	1h	316.46	+0.108%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0196%	8h	315.71	−0.129%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0196%	4h	316.33	+0.066%	—	$30.1M	—	as long as short
Nado TAO-PERPshort	+0.0197%	1h	316.00	−0.037%	$808K	$2.2M	10x
Aster TAOUSDT	+0.0214%	4h	315.37	−0.237%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0238%	1h	315.65	−0.149%	$94.2M	$104.8M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0290%	1h	314.95	−0.370%	$315K	$910K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0340%	1h	314.54	−0.499%	$12K	$1.6M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.22	−0.601%	$4.5M	$10.8M	100x	as long as short
Extended TAO-USD	+0.0344%	1h	316.29	+0.055%	$922K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0345%	1h	316.47	+0.111%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.68	−0.140%	$362K	$409K	10x	as long as short
Lighter TAO	+0.0392%	1h	315.74	−0.119%	$1.5M	$6.4M	5x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.512%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0651%	4h	314.33	−0.566%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.75	−0.432%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	316.39	+0.086%	$437K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.77	−0.111%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.104%	$23K	$2K	12x	as long as short