Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.068%

Price spread now: Nado against HTX+0.049%7-day average +0.089% · 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−$225as in the Price arb table

costs, in and out, $10k−$2212.207% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.102%+$10 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.049%, 7d avg +0.089%

Together, before fees+0.045%+ Points / potential airdropNado: Active · farm board+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.040% cheaper against HTX than usual: you would sell low and buy high (spread +0.049% now, against its 7-day average of +0.089%). If the spread goes back, that is −$4 on $10k: about 34 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TAO-USDT	315.84	0.0100	pay 0.0050% / 4h	44m 58s	$109K	$527K	20x
Short	Nado TAO-PERP	315.99	0.0195	get 0.0024% / 1h	44m 58s	$808K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against HTX. 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 HTXbpFee NadobpOrdersPrice spread, now +0.049%Rate

Funding earned: $20.03
Price spread: +0.049% → +0.089%: −$4.03
Slippage, 4 orders: −$201.72
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$204.72
Costs to cover: 2.207%
Break-even: 78.5 days

Slippage from HTX: live order book, 14 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 HTX live order book, 14 min ago	13.02 bp	112.9 bp −$113	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 4 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	−0.218%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.83	−0.003%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.89	+0.016%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.97	+0.040%	$5.6M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.24	+0.127%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.93	+0.029%	$91.1M	$489.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.80	−0.013%	$26.0M	$119.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.60	−0.076%	$12.9M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.99	+0.047%	$105.6M	$142.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.89	+0.016%	$17.6M	$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 TAOUSDT	+0.0100%	4h	315.77	−0.022%	$35.3M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.77	−0.022%	$35K	$304K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.84	0.000%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.04	+0.063%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	316.23	+0.123%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.11	+0.085%	$1K	$1.9M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	315.84	long leg	$109K	$527K	20x
Phemex TAOUSDT	+0.0100%	4h	315.90	+0.019%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	315.75	−0.028%	$646	$785K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.92	+0.027%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	−0.319%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	316.10	+0.082%	$57K	$275K	10x	as long as short
Bybit TAOUSDT	+0.0143%	4h	316.00	+0.051%	$68.7M	$146.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.91	+0.021%	$428K	—	100x	as long as short
BingX TAO-USDT	+0.0184%	4h	315.82	−0.006%	—	$30.1M	—	as long as short
Paradex TAO-USD-PERP	+0.0194%	8h	316.20	+0.113%	$14K	$1K	10x	as long as short
Nado TAO-PERPshort	+0.0195%	1h	315.99	+0.049%	$808K	$2.2M	10x
01 Exchange TAOUSD	+0.0208%	1h	316.32	+0.152%	$3K	$4K	5x	as long as short
Aster TAOUSDT	+0.0224%	4h	315.89	+0.014%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0255%	1h	316.17	+0.105%	$94.2M	$105.0M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0309%	1h	316.07	+0.073%	$317K	$910K	10x	as long as short
Extended TAO-USD	+0.0328%	1h	315.84	−0.001%	$922K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.23	+0.123%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	316.41	+0.180%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	316.15	+0.099%	$363K	$409K	10x	as long as short
Lighter TAO	+0.0416%	1h	316.27	+0.137%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0490%	1h	316.14	+0.096%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	316.10	+0.082%	$315K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	+0.031%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.16	+0.102%	$364	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	316.30	+0.145%	$437K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.38	+0.171%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.194%	$23K	$2K	12x	as long as short