Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0034%/8h= −3.8% APRpaid last 24h −0.033%

Price spread now: Nado against BloFin−0.130%7-day average −0.029% · 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−$360.356% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.180%−$18 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now −0.130%, 7d avg −0.029%

Together, before fees−0.170%+ Points / potential airdropNado: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado is 0.102% cheaper against BloFin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TAO-USDT	308.69	0.0340	pay 0.0170% / 4h	2h 08m	$4.3M	$9.5M	100x
Short	Nado TAO-PERP	308.29	0.0306	get 0.0038% / 1h	8m 38s	$852K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BloFin. 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 BloFinbpFee NadobpOrdersPrice spread, now −0.130%Rate

Funding earned: −$7.21
Price spread: −0.130% → −0.029%: −$10.15
Slippage, 4 orders: −$16.65
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$53.02
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from BloFin: live order book, 10 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 BloFin live order book, 10 min ago	0.65 bp	12.5 bp −$12	21.9 bp −$219	43.6 bp −$4,357	doesn't fit
Sell Nado live order book, 5 min ago	1.29 bp	6.4 bp −$6	16.9 bp −$169	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	−0.0601%	1h	309.73	+0.337%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	310.21	+0.492%	$130K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	308.27	−0.136%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	310.34	+0.535%	$43K	$530K	20x	as long as short
Pacifica TAO	+0.0100%	1h	310.40	+0.554%	$366K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	310.44	+0.567%	$87.0M	$405.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	310.62	+0.625%	$60.4M	$119.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	310.70	+0.651%	$25.6M	$94.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	310.45	+0.570%	$139K	$604K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	310.20	+0.489%	$12.3M	$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	310.21	+0.492%	$119.2M	$126.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	310.05	+0.441%	$18.8M	$26.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.08	+0.450%	$34.7M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	310.23	+0.499%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.99	−0.228%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.08	−0.198%	$40K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	308.51	−0.059%	$549K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.80	−0.288%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.45	−0.078%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.47	−0.072%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.87	+0.058%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.12	−0.185%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	308.44	−0.081%	$122K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	308.94	+0.081%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.60	−0.029%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	310.54	+0.599%	$1K	$451K	5x	as long as short
Aster TAOUSDT	+0.0152%	4h	310.17	+0.478%	$1.1M	$7.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0161%	8h	310.30	+0.521%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	308.30	−0.126%	$440K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0231%	1h	308.93	+0.078%	$14K	$1.3M	25x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	+0.036%	$327K	$462K	5x	as long as short
Nado TAO-PERPshort	+0.0306%	1h	308.29	−0.130%	$852K	$1.9M	10x
BloFin TAO-USDTlong	+0.0340%	4h	308.69	long leg	$4.3M	$9.5M	100x
01 Exchange TAOUSD	+0.0536%	1h	310.85	+0.700%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	308.39	−0.096%	$355	—	20x	as long as short
Extended TAO-USD	+0.0744%	1h	310.25	+0.506%	$912K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0925%	1h	309.32	+0.204%	$385K	$754K	10x	as long as short
Lighter TAO	+0.0944%	1h	310.44	+0.565%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	310.12	+0.463%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1019%	1h	309.22	+0.171%	$6.4M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	310.46	+0.575%	$415K	$542K	5x	as long as short
Hyperliquid TAO	+0.1838%	1h	310.50	+0.586%	$97.3M	$77.5M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	+0.013%	$22K	$271	12x	as long as short