Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0184%/8h= +20.1% APRpaid last 24h −0.072%

Price spread now: Bybit against Nado+0.213%7-day average −0.002% · 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−$350.347% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.081%−$8 on $10k

Price spread, last 7 days−0.174%−$17 · spread now +0.213%, 7d avg −0.002%

Together, before fees−0.255%+ Points / potential airdropNado: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Bybit is 0.215% dearer against Nado than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.002%. Mind the row above: over the last 3 days funding on this pair cost −0.081%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado TAO-PERP	313.62	0.0256	pay 0.0032% / 1h	36m 47s	$770K	$2.2M	10x
Short	Bybit TAOUSDT	314.29	0.0440	get 0.0220% / 4h	2h 36m	$68.2M	$151.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.213%Rate

Funding earned: $38.64
Price spread: +0.213% → −0.002%: $21.5
Slippage, 4 orders: −$16.68
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $25.46
Costs to cover: 0.347%
Break-even: 2.4 days

Slippage from Nado: live order book, 2 min ago; Bybit: 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	0.80 bp	8.2 bp −$8	21.1 bp −$211	doesn't fit	doesn't fit
Sell Bybit live order book, 7 min ago	0.16 bp	10.5 bp −$10	18.8 bp −$188	41.4 bp −$4,139	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	313.43	−0.062%	$23K	—	150x	as long as short
dYdX TAO-USD	+0.0045%	1h	313.13	−0.157%	$125K	$85K	5x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	313.58	−0.014%	$642	$899K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.18	+0.177%	$89.9M	$506.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.10	+0.152%	$26.2M	$122.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.32	+0.222%	$167K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.70	+0.025%	$13.8M	$50.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.02	+0.127%	$105.9M	$145.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.82	+0.063%	$17.3M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.87	+0.079%	$35.3M	$57.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	312.76	−0.276%	$41K	$314K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.44	−0.058%	$90K	$919K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.61	−0.004%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.25	−0.119%	$110K	$546K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.91	+0.091%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	313.82	+0.063%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0131% / S +0.0138%	1h	313.37	−0.082%	$420K	—	100x	as long as short
Aster TAOUSDT	+0.0171%	4h	313.69	+0.022%	$1.3M	$10.5M	50x	as long as short
Popdex TAOUSDT	+0.0176%	1h	313.66	+0.012%	$49K	$664K	20x	as long as short
Phemex TAOUSDT	+0.0228%	4h	313.84	+0.069%	$3.2M	$8.0M	50x	as long as short
Pacifica TAO	+0.0233%	1h	313.62	−0.001%	$357K	$419K	10x	as long as short
Paradex TAO-USD-PERP	+0.0250%	8h	313.71	+0.026%	$14K	$1K	10x	as long as short
Nado TAO-PERPlong	+0.0256%	1h	313.62	long leg	$770K	$2.2M	10x
GRVT TAO_USDT_Perp	+0.0280%	4h	313.26	−0.114%	$532K	$935K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0303%	1h	314.11	+0.154%	$5.9M	$21.4M	50x	as long as short
Bullet TAO-USD	+0.0323%	1h	313.75	+0.040%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.84	+0.069%	$4.6M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0375%	1h	312.24	−0.441%	$44K	$256K	50x	as long as short
Variational Omni TAO	+0.0407%	4h	313.63	+0.001%	$5.5M	$10.1M	—	as long as short
BingX TAO-USDT	+0.0426%	4h	314.06	+0.139%	—	$33.7M	—	as long as short
Extended TAO-USD	+0.0432%	1h	313.89	+0.086%	$902K	$2.4M	25x	as long as short
Bybit TAOUSDTshort	+0.0440%	4h	314.29	+0.213%	$68.2M	$151.8M	50x
Arcus TAO-USD	+0.0483%	1h	313.93	+0.098%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.00	+0.120%	$312K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0603%	1h	313.85	+0.072%	$9K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.59	−0.010%	$361	—	20x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	313.98	+0.114%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0783%	1h	314.40	+0.248%	$91.9M	$108.7M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0808%	1h	314.16	+0.171%	$310K	$887K	10x	as long as short
Lighter TAO	+0.0816%	1h	314.24	+0.196%	$1.5M	$6.6M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	314.33	+0.226%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	313.70	+0.024%	$452K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	317.66	+1.287%	$23K	$2K	12x	as long as short