Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.049%

Price spread now: Nado against Bybit−0.316%49s7-day average −0.026% · 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—prices read too far apart to compare

costs, in and out, $10k−$380.385% of the position

Long on Bybit 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)+0.453%+$45 · spread now −0.316%, 7d avg −0.026%

Together, before fees+0.509%+ Points / potential airdropNado: Active · farm board+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.290% cheaper against Bybit than usual: you would sell low and buy high (spread −0.316% now, against its 7-day average of −0.026%). If the spread goes back, that is −$29 on $10k: about 22 days of funding at the current rate (+$1 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	317.17	0.0715	pay 0.0358% / 4h	3h 07m	$65.3M	$133.5M	50x
Short	Nado TAO-PERP	316.17	0.0759	get 0.0095% / 1h	7m 34s	$875K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. 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 BybitbpFee NadobpOrdersPrice spread, now −0.316%Rate

Funding earned: $9.25
Price spread: −0.316% → −0.026%: −$29.05
Slippage, 4 orders: −$20.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$58.25
Costs to cover: 0.385%
Break-even: 51.1 days

Slippage from Bybit: live order book, 1 min ago; Nado: live order book, 6 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 Bybit live order book, 1 min ago	0.16 bp	12.2 bp −$12	21.1 bp −$211	47.4 bp −$4,740	doesn't fit
Sell Nado live order book, 6 min ago	0.63 bp	6.4 bp −$6	17.4 bp −$174	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	−0.1228%	1h	316.14	−0.325%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.78	−0.123%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.13	−0.327%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.00	−0.054%	$42K	$600K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.85	−0.102%	$90.8M	$450.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.00	−0.054%	$25.8M	$109.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.70	−0.148%	$12.9M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.95	−0.069%	$99.6M	$136.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.91	−0.082%	$18.0M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.84	−0.104%	$35.2M	$51.4M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.43	−0.235%	$40K	$293K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.09	−0.340%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.84	−0.104%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.08	−0.344%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.96	−0.066%	$127K	$422K	20x	as long as short
Bullet TAO-USD	+0.0103%	1h	316.48	−0.217%	$12K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.74	−0.134%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	316.90	−0.085%	$2K	$644K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0101%	1h	316.19	−0.308%	$449K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	316.91	−0.083%	$375K	$376K	10x	as long as short
ApeX Omni TAOUSDT	+0.0185%	1h	316.14	−0.325%	$48K	$267K	50x	as long as short
Arcus TAO-USD	+0.0201%	1h	317.20	+0.009%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0202%	4h	316.56	−0.192%	$1.3M	$8.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0237%	8h	316.99	−0.056%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0268%	1h	316.36	−0.255%	$92K	$633K	5x	as long as short
Phemex TAOUSDT	+0.0296%	4h	316.97	−0.063%	$3.4M	$7.8M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.05	−0.353%	$4.4M	$10.7M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0370%	1h	316.81	−0.115%	$17K	$1.5M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0484%	1h	316.67	−0.157%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	316.60	−0.180%	$331K	$624K	5x	as long as short
Variational Omni TAO	+0.0546%	4h	316.94	−0.072%	$5.5M	$8.7M	—	as long as short
01 Exchange TAOUSD	+0.0560%	1h	317.04	−0.041%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.77	+0.189%	$23K	$802	12x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.96	−0.382%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	317.04	−0.041%	—	$30.7M	—	as long as short
Bybit TAOUSDTlong	+0.0715%	4h	317.17	long leg	$65.3M	$133.5M	50x
Nado TAO-PERPshort	+0.0759%	1h	316.17	−0.316%	$875K	$2.0M	10x
Backpack TAO_USDC_PERP	+0.0805%	1h	316.65	−0.164%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.15	−0.006%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1112%	1h	317.02	−0.047%	$885K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	316.94	−0.071%	$421K	$593K	5x	as long as short
Lighter TAO	+0.1408%	1h	317.42	+0.079%	$1.7M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1798%	1h	317.40	+0.073%	$101.6M	$91.5M	5x	as long as short