Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0309%/8h= −33.9% APRpaid last 24h −0.046%

Price spread now: Paradex against Nado−0.169%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Paradex is 0.169% cheaper against Nado than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado TAO-PERP	309.53	0.0578	pay 0.0072% / 1h	44m 29s	$757K	$2.1M	10x
Short	Paradex TAO-USD-PERP	309.00	0.0269	get 0.0269% / 8h	6h 44m	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.169%Rate

Funding earned: −$64.94
Price spread: −0.169% → 0.000%: −$16.89
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$92.84
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 4 min ago; Paradex: no order-book sample. Net counts fees only.

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, 4 min ago	1.13 bp	9.4 bp −$9	21.1 bp −$211	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	308.57	−0.310%	$123K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	308.47	−0.340%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.53	+0.001%	$47K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	309.51	−0.006%	$89.3M	$457.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	309.50	−0.009%	$25.2M	$108.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	308.80	−0.235%	$12.6M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	309.05	−0.154%	$101.3M	$136.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.96	−0.183%	$17.9M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.12	−0.132%	$34.4M	$52.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.63	+0.032%	$34K	$300K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	311.49	+0.633%	$519K	$964K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.89	+0.117%	$46K	$267K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.73	−0.258%	$56K	$294K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.21	−0.426%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	308.66	−0.280%	$126K	$470K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	309.34	−0.061%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	309.28	−0.080%	$633	$674K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0092%	1h	308.42	−0.357%	$425K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0171%	1h	308.51	−0.329%	$5.5M	$20.3M	50x	as long as short
Aster TAOUSDT	+0.0172%	4h	308.78	−0.241%	$1.3M	$9.1M	50x	as long as short
Bullet TAO-USD	+0.0231%	1h	308.81	−0.231%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERPshort	+0.0269%	8h	309.00	−0.169%	$14K	$1K	10x
Polymarket Perps TAO-USD	+0.0280%	1h	309.44	−0.028%	$77K	$643K	5x	as long as short
Pacifica TAO	+0.0285%	1h	309.01	−0.167%	$365K	$378K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	309.45	−0.025%	$82K	$551K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+0.527%	$4.4M	$10.7M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0458%	1h	308.64	−0.288%	$15K	$1.5M	25x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+1.972%	$23K	$2K	12x	as long as short
Phemex TAOUSDT	+0.0529%	4h	308.45	−0.348%	$3.3M	$7.9M	50x	as long as short
Nado TAO-PERPlong	+0.0578%	1h	309.53	long leg	$757K	$2.1M	10x
Phoenix TAO	+0.0588%	1h	309.80	+0.088%	$324K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	309.64	+0.036%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0696%	4h	309.05	−0.155%	$5.4M	$8.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	309.34	−0.061%	$356	—	20x	as long as short
BingX TAO-USDT	+0.0740%	4h	309.40	−0.041%	—	$31.1M	—	as long as short
Bybit TAOUSDT	+0.0775%	4h	309.82	+0.094%	$63.3M	$135.3M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0846%	1h	308.87	−0.212%	$312K	$814K	10x	as long as short
Extended TAO-USD	+0.0976%	1h	309.32	−0.069%	$890K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	310.00	+0.153%	$1.5M	$6.3M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	309.44	−0.028%	$411K	$605K	5x	as long as short
Hyperliquid TAO	+0.1288%	1h	309.33	−0.064%	$98.1M	$92.9M	5x	as long as short
Lighter TAO	+0.1408%	1h	309.36	−0.055%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+0.928%	$166K	$40K	10x	as long as short