Funding you earn now, next payment 06:00 UTC+0.0505%/8h= +55.3% APRnext payment +$0.63 per $10,000 · paid last 24h +0.002%
Price spread now: Backpack against Nado+0.222%7-day average +0.049% · 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−$13as in the Price arb table
costs, in and out, $10k−$310.306% of the position
Funding, last 3 days (all we have)+0.018%+$2 on $10k
+Price spread, last 4 days (all we have)−0.219%−$22 · spread now +0.222%, 7d avg +0.049%
=Together, before fees−0.201%+ Points / potential airdropNado: Active · farm board−$20 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Backpack is 0.173% dearer against Nado than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.049%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.018% in total (about 1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.63 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado TAO-PERP | 312.56 | 0.0274 | pay 0.0034% / 1h | 38m 36s | $776K | $2.2M | 10x |
| Short | Backpack TAO_USDC_PERP | 313.25 | 0.0779 | get 0.0097% / 1h | 38m 36s | $309K | $887K | 10x |
Nado TAO-PERP
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Nado. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $105.98
- Price spread: +0.222% → +0.049%
- $17.27
- Slippage, 4 orders
- −$13.6
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $92.65
- Costs to cover
- 0.306%
- Break-even
- 0.9 days
Slippage from Nado: live order book, 5 min ago; Backpack: live order book, 10 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 Nado live order book, 5 min ago | 0.64 bp | 7.8 bp −$8 | 21.4 bp −$214 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 10 min ago | 0.32 bp | 5.7 bp −$6 | 19.2 bp −$192 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 312.73 | +0.056% | $23K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0047% | 1h | 312.85 | +0.095% | $125K | $85K | 5x | as long as short |
| Katana Perps TAO-USD | +0.0100% | 8h | 312.97 | +0.132% | $1K | $898K | 5x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.12 | +0.181% | $89.6M | $506.4M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 312.80 | +0.078% | $26.1M | $121.5M | 50x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 314.32 | +0.564% | $167K | $333 | 10x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 312.50 | −0.018% | $13.8M | $50.7M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 312.93 | +0.119% | $105.4M | $145.1M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 312.96 | +0.129% | $17.3M | $31.5M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 312.63 | +0.023% | $35.2M | $57.0M | 50x | as long as short |
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
Katana Perps TAO-USD
Binance TAOUSDT
OKX TAO-USDT-SWAP
Bulk TAO-USD
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 313.60 | +0.334% | $41K | $314K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 312.45 | −0.034% | $89K | $921K | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.74 | +0.058% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 311.72 | −0.268% | $111K | $547K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 313.03 | +0.151% | $172K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0121% | 4h | 313.06 | +0.161% | $52K | $290K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0131% / S +0.0138% | 1h | 312.76 | +0.064% | $418K | — | 100x | as long as short |
| Popdex TAOUSDT | +0.0152% | 1h | 313.09 | +0.170% | $49K | $666K | 20x | as long as short |
| Aster TAOUSDT | +0.0166% | 4h | 313.01 | +0.144% | $1.3M | $10.5M | 50x | as long as short |
| Pacifica TAO | +0.0233% | 1h | 312.92 | +0.116% | $356K | $419K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0244% | 8h | 312.84 | +0.089% | $14K | $1K | 10x | as long as short |
| Nado TAO-PERPlong | +0.0274% | 1h | 312.56 | long leg | $776K | $2.2M | 10x | |
| GRVT TAO_USDT_Perp | +0.0282% | 4h | 312.68 | +0.038% | $531K | $935K | 10x | as long as short |
| Phemex TAOUSDT | +0.0292% | 4h | 312.92 | +0.116% | $3.1M | $8.0M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0304% | 1h | 313.25 | +0.221% | $5.8M | $21.4M | 50x | as long as short |
| Bullet TAO-USD | +0.0311% | 1h | 313.21 | +0.209% | $12K | $17K | 20x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 313.14 | +0.186% | $4.5M | $10.8M | 100x | as long as short |
| BingX TAO-USDT | +0.0402% | 4h | 312.83 | +0.087% | — | $33.6M | — | as long as short |
| Variational Omni TAO | +0.0407% | 4h | 313.63 | +0.342% | $5.5M | $10.1M | — | as long as short |
| Extended TAO-USD | +0.0416% | 1h | 312.82 | +0.085% | $898K | $2.4M | 25x | as long as short |
| Bybit TAOUSDT | +0.0447% | 4h | 312.94 | +0.122% | $67.9M | $151.8M | 50x | as long as short |
| Arcus TAO-USD | +0.0483% | 1h | 313.22 | +0.212% | $101K | $370K | 5x | as long as short |
| Phoenix TAO | +0.0513% | 1h | 314.00 | +0.462% | $312K | $713K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0516% | 1h | 313.78 | +0.391% | $44K | $257K | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0585% | 1h | 313.11 | +0.177% | $9K | $1.8M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 312.88 | +0.103% | $360 | — | 20x | as long as short |
| Hyperliquid TAO | +0.0745% | 1h | 313.11 | +0.177% | $91.6M | $108.6M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0752% | 1h | 313.33 | +0.247% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0779% | 1h | 313.25 | +0.222% | $309K | $887K | 10x | |
| Lighter TAO | +0.0792% | 1h | 313.18 | +0.198% | $1.5M | $6.5M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0928% | 1h | 314.38 | +0.583% | $1.5M | $6.8M | 50x | as long as short |
| RISEx TAO/USDC | +0.0948% | 1h | 312.98 | +0.135% | $451K | $649K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.3711% | 1h | 317.66 | +1.632% | $23K | $2K | 12x | as long as short |
edgeX TAOUSDC
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Popdex TAOUSDT
Aster TAOUSDT
Pacifica TAO
Paradex TAO-USD-PERP
GRVT TAO_USDT_Perp
Phemex TAOUSDT
Kraken Futures PF_TAOUSD
Bullet TAO-USD
BloFin TAO-USDT
BingX TAO-USDT
Variational Omni TAO
Extended TAO-USD
Bybit TAOUSDT
Arcus TAO-USD
Phoenix TAO
ApeX Omni TAOUSDT
Deribit TAO_USDC-PERPETUAL
Reya TAORUSDPERP
Hyperliquid TAO
01 Exchange TAOUSD
Lighter TAO
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Injective TAO/USDC PERP