TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0170%/8h= −18.6% APRnext payment −$0.21 per $10,000 · paid last 24h −0.069%

Price spread now: Nado against Lighter−0.160%47s7-day average −0.032% · 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−$350.351% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.126%−$13 on $10k

Price spread, last 7 days+0.200%+$20 · spread now −0.160%, 7d avg −0.032%

Together, before fees+0.074%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Nado is 0.128% cheaper against Lighter than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.032%). Swap the legs. The two prices were read 47 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	Lighter TAO	324.25	0.0568	pay 0.0071% / 1h	0m 49s	$1.6M	$6.8M	5x
Short	Nado TAO-PERP	323.73	0.0398	get 0.0050% / 1h	0m 49s	$762K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Lighter. 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 LighterbpFee NadobpOrdersPrice spread, now −0.160%Rate

Funding earned: −$35.73
Price spread: −0.160% → −0.032%: −$12.81
Slippage, 4 orders: −$28.15
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$83.69
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Nado: live order book, 3 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 Lighter live order book, 7 min ago	1.10 bp	8.8 bp −$9	22.5 bp −$225	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	2.64 bp	10.1 bp −$10	20.3 bp −$203	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	−0.0241%	1h	318.85	−1.666%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	323.24	−0.311%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	323.73	−0.159%	$52K	$702K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	324.24	−0.002%	$71.4M	$154.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	324.00	−0.076%	$27.1M	$131.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.80	−0.138%	$15.5M	$51.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.66	−0.181%	$17.7M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.85	−0.122%	$36.6M	$56.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.66	−0.181%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.20	−0.323%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	323.83	−0.129%	$117K	$552K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.15	−0.338%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	323.77	−0.147%	$662	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	323.45	−0.246%	$178K	$998	3x	as long as short
MEXC TAO_USDT	+0.0156%	4h	324.20	−0.014%	$106.0M	$156.6M	300x	as long as short
Binance TAOUSDT	+0.0159%	4h	324.16	−0.028%	$94.9M	$519.4M	75x	as long as short
BingX TAO-USDT	+0.0162%	4h	324.03	−0.067%	—	$38.9M	—	as long as short
edgeX TAOUSDC	+0.0164%	4h	321.70	−0.787%	$42K	$322K	10x	as long as short
Paradex TAO-USD-PERP	+0.0222%	8h	323.87	−0.117%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0244%	4h	323.39	−0.264%	$55K	$272K	10x	as long as short
Bullet TAO-USD	+0.0279%	1h	323.53	−0.221%	$13K	$17K	20x	as long as short
Extended TAO-USD	+0.0280%	1h	324.07	−0.054%	$979K	$2.2M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0284%	4h	321.52	−0.842%	$548K	$825K	10x	as long as short
ApeX Omni TAOUSDT	+0.0306%	1h	321.60	−0.816%	$45K	$256K	50x	as long as short
Aster TAOUSDT	+0.0325%	4h	324.08	−0.052%	$1.3M	$11.2M	50x	as long as short
Pacifica TAO	+0.0349%	1h	323.95	−0.090%	$377K	$439K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0369% / S −0.0109%	1h	323.08	−0.360%	$383K	—	100x	as long as short
Nado TAO-PERPshort	+0.0398%	1h	323.73	−0.160%	$762K	$2.0M	10x
BloFin TAO-USDT	+0.0399%	4h	323.57	−0.209%	$4.8M	$11.0M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	323.94	−0.095%	$102K	$329K	5x	as long as short
Variational Omni TAO	+0.0522%	4h	323.77	−0.149%	$5.7M	$9.8M	—	as long as short
dYdX TAO-USD	+0.0532%	1h	324.25	+0.001%	$273K	$232K	5x	as long as short
Lighter TAOlong	+0.0568%	1h	324.25	long leg	$1.6M	$6.8M	5x
Phoenix TAO	+0.0578%	1h	324.30	+0.016%	$326K	$714K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0630%	1h	323.31	−0.289%	$20K	$1.9M	25x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	324.35	+0.032%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0693%	1h	324.42	+0.053%	$97.9M	$109.8M	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	323.36	−0.273%	$372	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0709%	1h	323.77	−0.147%	$321K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0769%	1h	323.53	−0.221%	$6.3M	$21.0M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	322.86	−0.428%	$440K	$711K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	324.31	+0.019%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	−0.502%	$23K	$2K	12x	as long as short