TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0192%/8h= −21.0% APRnext payment −$0.24 per $10,000 · paid last 24h −0.041%

Price spread now: Popdex against Nado−0.099%7-day average −0.008% · 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−$47as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Nado Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 3 days (all we have)−0.277%−$28 · spread now −0.099%, 7d avg −0.008%

Together, before fees−0.331%+ Points / potential airdropNado: Active · farm board−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Popdex is 0.091% cheaper against Nado than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.054% in total (about -6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 per $10,000. 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	310.65	0.0288	pay 0.0036% / 1h	8m 30s	$858K	$1.9M	10x
Short	Popdex TAOUSDT	310.34	0.0096	get 0.0012% / 1h	8m 30s	$43K	$530K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$40.32
Price spread: −0.099% → −0.008%: −$9.11
Slippage, 4 orders: −$24.32
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$87.15
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; Popdex: live order book, 15 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	1.29 bp	9.0 bp −$9	22.9 bp −$229	doesn't fit	doesn't fit
Sell Popdex live order book, 15 min ago	1.78 bp	11.1 bp −$11	84.7 bp −$847	doesn't fit	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	−0.0601%	1h	309.73	−0.295%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	310.21	−0.141%	$130K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	310.56	−0.027%	$27K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	310.34	−0.099%	$43K	$530K	20x
Pacifica TAO	+0.0100%	1h	310.40	−0.080%	$366K	$368K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	310.79	+0.045%	$87.1M	$405.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	310.84	+0.062%	$60.5M	$119.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	310.80	+0.049%	$25.6M	$94.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	310.45	−0.064%	$139K	$604K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	310.70	+0.017%	$12.4M	$48.7M	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	310.76	+0.036%	$119.7M	$126.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	310.83	+0.059%	$18.9M	$26.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.46	−0.060%	$34.8M	$44.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	310.77	+0.039%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.99	−0.856%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.08	−0.827%	$40K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	308.51	−0.688%	$549K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.80	−0.917%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	310.62	−0.009%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	310.77	+0.039%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	310.65	+0.001%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.12	−0.814%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	308.44	−0.711%	$122K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	308.94	−0.550%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.60	−0.659%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	310.54	−0.035%	$1K	$451K	5x	as long as short
Aster TAOUSDT	+0.0152%	4h	310.41	−0.078%	$1.1M	$7.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0161%	8h	310.30	−0.113%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	310.53	−0.039%	$443K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0231%	1h	308.93	−0.552%	$14K	$1.3M	25x	as long as short
Phoenix TAO	+0.0234%	1h	308.80	−0.595%	$327K	$462K	5x	as long as short
Nado TAO-PERPlong	+0.0288%	1h	310.65	long leg	$858K	$1.9M	10x
BloFin TAO-USDT	+0.0340%	4h	308.69	−0.630%	$4.3M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0536%	1h	310.85	+0.065%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	310.75	+0.033%	$357	—	20x	as long as short
Extended TAO-USD	+0.0744%	1h	310.25	−0.127%	$912K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0925%	1h	309.32	−0.427%	$385K	$754K	10x	as long as short
Lighter TAO	+0.0944%	1h	310.44	−0.068%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	310.12	−0.170%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1019%	1h	309.22	−0.460%	$6.4M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	310.46	−0.059%	$415K	$542K	5x	as long as short
Hyperliquid TAO	+0.1844%	1h	311.26	+0.197%	$97.5M	$77.6M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	−0.617%	$22K	$271	12x	as long as short