Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0156%/8h= +17.0% APRpaid last 24h +0.072%

Price spread now: Nado against OKX+0.150%7-day average +0.047% · 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−$23as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.086%+$9 on $10k

Price spread, last 7 days−0.163%−$16 · spread now +0.150%, 7d avg +0.047%

Together, before fees−0.078%+ Points / potential airdropNado: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Nado is 0.104% dearer against OKX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TAO-USDT-SWAP	314.20	0.0100	pay 0.0100% / 8h	2h 34m	$26.3M	$122.4M	50x
Short	Nado TAO-PERP	314.67	0.0256	get 0.0032% / 1h	34m 21s	$777K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now +0.150%Rate

Funding earned: $32.68
Price spread: +0.150% → +0.047%: $10.36
Slippage, 4 orders: −$16.72
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $9.32
Costs to cover: 0.337%
Break-even: 5.0 days

Slippage from OKX: live order book, 5 min ago; Nado: live order book, 4 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 OKX live order book, 5 min ago	1.60 bp	8.7 bp −$9	19.1 bp −$191	90.4 bp −$9,037	doesn't fit
Sell Nado live order book, 4 min ago	0.80 bp	7.1 bp −$7	17.2 bp −$172	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.03	−0.055%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0039%	1h	314.72	+0.165%	$125K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.30	+0.032%	$90.2M	$507.5M	75x	as long as short
OKX TAO-USDT-SWAPlong	+0.0100%	8h	314.20	long leg	$26.3M	$122.4M	50x
Bulk TAO-USD	+0.0100%	1h	314.32	+0.038%	$167K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.00	−0.064%	$13.9M	$50.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.44	+0.076%	$107.6M	$145.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.31	+0.035%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.99	−0.067%	$35.3M	$57.0M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.69	−0.163%	$41K	$315K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	314.32	+0.038%	$90K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.52	+0.420%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.64	+0.458%	$111K	$553K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.98	+0.567%	$3.2M	$8.0M	50x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	314.61	+0.130%	$644	$907K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.42	+0.068%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.24	+0.013%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0130% / S +0.0139%	1h	313.92	−0.088%	$421K	—	100x	as long as short
Popdex TAOUSDT	+0.0184%	1h	314.45	+0.080%	$50K	$665K	20x	as long as short
Aster TAOUSDT	+0.0199%	4h	314.31	+0.035%	$1.3M	$10.6M	50x	as long as short
Pacifica TAO	+0.0233%	1h	315.03	+0.263%	$359K	$419K	10x	as long as short
Nado TAO-PERPshort	+0.0256%	1h	314.67	+0.150%	$777K	$2.2M	10x
Paradex TAO-USD-PERP	+0.0265%	8h	315.10	+0.287%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0296%	1h	314.13	−0.022%	$10K	$1.8M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0301%	1h	316.14	+0.617%	$5.9M	$21.4M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0306%	4h	313.96	−0.076%	$533K	$935K	10x	as long as short
Bullet TAO-USD	+0.0333%	1h	314.35	+0.048%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0338%	1h	313.52	−0.216%	$44K	$257K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.94	+0.554%	$4.6M	$11.0M	100x	as long as short
BingX TAO-USDT	+0.0426%	4h	314.31	+0.035%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0431%	4h	314.95	+0.237%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0456%	1h	314.72	+0.165%	$904K	$2.4M	25x	as long as short
Bybit TAOUSDT	+0.0462%	4h	314.38	+0.057%	$68.2M	$152.3M	50x	as long as short
Arcus TAO-USD	+0.0483%	1h	315.01	+0.258%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.00	−0.064%	$312K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.43	+0.074%	$362	—	20x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	314.62	+0.134%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0796%	1h	314.64	+0.142%	$92.0M	$108.8M	5x	as long as short
Lighter TAO	+0.0832%	1h	315.20	+0.318%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0840%	1h	315.92	+0.547%	$312K	$889K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	316.93	+0.869%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	314.58	+0.123%	$456K	$651K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	317.66	+1.101%	$23K	$2K	12x	as long as short