Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0473%/8h= −51.8% APRpaid last 24h −0.057%

Price spread now: MEXC against Nado−0.481%51s7-day average −0.005% · 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−$230.229% of the position

Long on Nado Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.750%−$75 · spread now −0.481%, 7d avg −0.005%

Together, before fees−0.816%+ Points / potential airdropNado: Active · farm board−$82 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and MEXC is 0.476% cheaper against Nado than usual: you would sell low and buy high (−$48 if the spread goes back to its 7-day average of −0.005%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.066% in total (about -7.3% a year). A funding rate is set anew for every payment. 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	308.96	0.0573	pay 0.0072% / 1h	42m 49s	$756K	$2.1M	10x
Short	MEXC TAO_USDT	307.48	0.0100	get 0.0050% / 4h	2h 42m	$100.5M	$137.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.481%Rate

Funding earned: −$99.32
Price spread: −0.481% → −0.005%: −$47.56
Slippage, 4 orders: −$15.88
Fee Nado: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$169.77
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; MEXC: live order book, 1 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, 1 min ago	0.97 bp	7.8 bp −$8	20.7 bp −$207	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.62 bp	2.9 bp −$3	9.7 bp −$97	25.2 bp −$2,519	86.0 bp −$43.0K

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
dYdX TAO-USD	0.0000%	1h	307.35	−0.522%	$123K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	308.57	−0.128%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.19	+0.073%	$46K	$605K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0096%	1h	308.53	−0.139%	$15K	$1.5M	25x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.56	−0.455%	$88.7M	$459.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.60	−0.442%	$25.1M	$107.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	307.00	−0.636%	$12.5M	$49.6M	50x	as long as short
MEXC TAO_USDTshort	+0.0100%	4h	307.48	−0.481%	$100.5M	$137.1M	300x
KuCoin TAOUSDTM	+0.0100%	4h	307.69	−0.413%	$17.9M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.49	−0.477%	$34.2M	$52.7M	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	309.63	+0.214%	$34K	$300K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.02	+0.018%	$515K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.89	+0.299%	$46K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.47	−0.160%	$56K	$284K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.86	−0.034%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.08	+0.037%	$127K	$470K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	309.75	+0.254%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	309.36	+0.128%	$1K	$674K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0092%	1h	308.63	−0.108%	$426K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0171%	1h	308.45	−0.166%	$5.5M	$20.3M	50x	as long as short
Aster TAOUSDT	+0.0179%	4h	307.28	−0.546%	$1.3M	$9.1M	50x	as long as short
Bullet TAO-USD	+0.0241%	1h	309.08	+0.038%	$12K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0262%	1h	309.06	+0.031%	$77K	$643K	5x	as long as short
Paradex TAO-USD-PERP	+0.0274%	8h	307.62	−0.434%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	307.69	−0.411%	$363K	$378K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	309.48	+0.167%	$82K	$551K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+0.710%	$4.4M	$10.7M	100x	as long as short
Phemex TAOUSDT	+0.0412%	4h	308.20	−0.248%	$3.4M	$8.0M	50x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+2.157%	$23K	$2K	12x	as long as short
Nado TAO-PERPlong	+0.0573%	1h	308.96	long leg	$756K	$2.1M	10x
Phoenix TAO	+0.0588%	1h	309.80	+0.270%	$324K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	309.75	+0.254%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0696%	4h	309.05	+0.027%	$5.4M	$8.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	309.01	+0.014%	$355	—	20x	as long as short
BingX TAO-USDT	+0.0740%	4h	307.64	−0.429%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0831%	4h	307.94	−0.332%	$62.9M	$135.6M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0864%	1h	308.27	−0.225%	$311K	$814K	10x	as long as short
Extended TAO-USD	+0.0976%	1h	307.22	−0.565%	$885K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	309.88	+0.296%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	309.36	+0.127%	$411K	$605K	5x	as long as short
Hyperliquid TAO	+0.1275%	1h	308.02	−0.306%	$97.7M	$93.0M	5x	as long as short
Lighter TAO	+0.1392%	1h	307.94	−0.331%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+1.112%	$166K	$40K	10x	as long as short