Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0153%/8h= −16.8% APRpaid last 24h −0.071%

Price spread now: Bitget against Nado+0.151%52s7-day average −0.027% · 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—prices read too far apart to compare

costs, in and out, $10k−$340.344% of the position

Long on Nado Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.082%−$8 on $10k

Price spread, last 7 days−0.088%−$9 · spread now +0.151%, 7d avg −0.027%

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

The price spread pays, funding is against you. Bitget is 0.178% dearer against Nado than usual: you sell high and buy low (spread +0.151% now, against its 7-day average of −0.027%): +$18 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3.9 days. The two prices were read 52 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	Nado TAO-PERP	314.21	0.0253	pay 0.0032% / 1h	48m 40s	$818K	$2.2M	10x
Short	Bitget TAOUSDT	314.69	0.0100	get 0.0050% / 4h	48m 40s	$35.2M	$55.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Nado. 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 NadobpFee BitgetbpOrdersPrice spread, now +0.151%Rate

Funding earned: −$32.22
Price spread: +0.151% → −0.027%: $17.84
Slippage, 4 orders: −$15.41
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$48.8
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; Bitget: 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 Nado live order book, 5 min ago	0.95 bp	5.5 bp −$5	17.3 bp −$173	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.11 bp	13.2 bp −$13	23.2 bp −$232	35.1 bp −$3,505	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	+0.298%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.34	+0.041%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.92	−0.095%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.33	+0.036%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.48	+0.084%	$41K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.71	+0.158%	$90.8M	$488.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.60	+0.123%	$25.9M	$118.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.60	+0.123%	$12.9M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.79	+0.183%	$104.8M	$142.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.54	+0.103%	$17.5M	$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 TAOUSDTshort	+0.0100%	4h	314.69	+0.151%	$35.2M	$55.8M	50x
edgeX TAOUSDC	+0.0100%	4h	316.19	+0.628%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.46	+0.078%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.00	−0.068%	$89K	$789K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.29	+0.024%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.27	+0.018%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.91	−0.097%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.21	−0.002%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.26	+0.015%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	314.70	+0.154%	$2K	$784K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0122%	4h	316.28	+0.656%	$527K	$952K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.19	−0.008%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0153% / S +0.0116%	1h	314.00	−0.067%	$426K	—	100x	as long as short
Bybit TAOUSDT	+0.0171%	4h	314.60	+0.123%	$68.6M	$146.2M	50x	as long as short
01 Exchange TAOUSD	+0.0184%	1h	315.08	+0.275%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0197%	8h	314.59	+0.120%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0210%	4h	314.66	+0.141%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0234%	1h	314.62	+0.129%	$93.9M	$104.8M	5x	as long as short
BingX TAO-USDT	+0.0244%	4h	314.88	+0.212%	—	$30.1M	—	as long as short
Nado TAO-PERPlong	+0.0253%	1h	314.21	long leg	$818K	$2.2M	10x
Backpack TAO_USDC_PERP	+0.0280%	1h	314.54	+0.103%	$315K	$913K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.22	+0.002%	$4.5M	$10.8M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.12	+0.288%	$99K	$488K	5x	as long as short
Extended TAO-USD	+0.0352%	1h	314.76	+0.173%	$922K	$2.4M	25x	as long as short
Lighter TAO	+0.0360%	1h	314.83	+0.196%	$1.5M	$6.4M	5x	as long as short
Pacifica TAO	+0.0365%	1h	314.67	+0.145%	$361K	$409K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0456%	1h	314.35	+0.044%	$13K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	+0.091%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0651%	4h	314.33	+0.037%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.14	−0.024%	$361	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.18	+0.309%	$434K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.00	+0.250%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.717%	$23K	$2K	12x	as long as short