Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h +0.027%

Price spread now: BloFin against Nado+0.039%7-day average +0.033% · 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−$36as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.172%+$17 on $10k

Price spread, last 3 days (all we have)+0.051%+$5 · spread now +0.039%, 7d avg +0.033%

Together, before fees+0.224%+ Points / potential airdropNado: Active · farm board+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.172%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado TAO-PERP	313.20	0.0441	pay 0.0055% / 1h	27m 04s	$827K	$2.0M	10x
Short	BloFin TAO-USDT	313.32	0.0340	get 0.0170% / 4h	27m 04s	$4.4M	$10.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$21.31
Price spread: +0.039% → +0.033%: $0.66
Slippage, 4 orders: −$17.41
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$57.05
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from Nado: live order book, 2 min ago; BloFin: live order book, 7 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, 2 min ago	1.12 bp	7.7 bp −$8	19.0 bp −$190	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	3.01 bp	10.3 bp −$10	17.9 bp −$179	39.6 bp −$3,957	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	−0.4493%	1h	315.57	+0.758%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.75	−0.143%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.20	+0.002%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+0.560%	$23K	$361	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.10	−0.031%	$35K	$571K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.10	−0.031%	$371K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.63	+0.139%	$88.9M	$426.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.88	+0.218%	$61.6M	$125.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.60	+0.129%	$25.2M	$101.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.30	+0.033%	$12.5M	$49.9M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.28	+0.026%	$110.5M	$130.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.27	+0.023%	$18.8M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.39	+0.061%	$34.9M	$46.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.36	+0.052%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.93	+0.234%	$41K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.05	−0.048%	$519K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.77	+0.183%	$47K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.42	+0.071%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.33	+0.042%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.14	−0.018%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.59	+0.125%	$127K	$402K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.26	+0.020%	$3.3M	$7.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0102%	1h	313.58	+0.122%	$77K	$489K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.49	+0.093%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.10	−0.031%	$1K	$552K	5x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.23	+0.010%	$83K	$586K	5x	as long as short
Paradex TAO-USD-PERP	+0.0191%	8h	312.91	−0.092%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0196%	4h	313.24	+0.013%	$1.1M	$7.9M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0196%	1h	313.29	+0.028%	$21K	$1.5M	25x	as long as short
Variational Omni TAO	+0.0200%	4h	313.88	+0.218%	$4.0M	$7.0M	—	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	313.32	+0.039%	$4.4M	$10.5M	100x
Nado TAO-PERPlong	+0.0441%	1h	313.20	long leg	$827K	$2.0M	10x
Kraken Futures PF_TAOUSD	+0.0449%	1h	313.19	−0.001%	$5.7M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.18	−0.006%	$449K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0524%	1h	313.66	+0.148%	$293K	$804K	10x	as long as short
Phoenix TAO	+0.0537%	1h	314.20	+0.320%	$329K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	313.23	+0.010%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.44	+0.077%	$360	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	313.49	+0.094%	$859K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.27	+0.023%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1232%	1h	313.73	+0.168%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.15	−0.014%	$436K	$567K	5x	as long as short
Hyperliquid TAO	+0.1736%	1h	314.04	+0.269%	$98.0M	$83.9M	5x	as long as short