Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0499%/8h= +54.7% APRpaid last 24h +0.048%

Price spread now: Nado against Paradex−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 Paradex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Nado is 0.169% cheaper against Paradex than usual: you would sell low and buy high (spread −0.169% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 27 hours of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TAO-USD-PERP	320.69	0.0223	pay 0.0223% / 8h	6h 54m	$15K	$876	10x
Short	Nado TAO-PERP	320.15	0.0722	get 0.0090% / 1h	54m 48s	$733K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Paradex. 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 ParadexbpFee NadobpOrdersPrice spread, now −0.169%Rate

Funding earned: $104.86
Price spread: −0.169% → 0.000%: −$16.95
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $76.92
Costs to cover: 0.110%
Break-even: 1.9 days

Slippage unknown: Paradex: no order-book sample; Nado: live order book, 4 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Nado live order book, 4 min ago	0.78 bp	8.9 bp −$9	18.9 bp −$189	doesn't fit	doesn't fit

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
Bulk TAO-USD	−0.0985%	1h	321.65	+0.298%	$171K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	324.21	+1.096%	$20K	—	150x	as long as short
Bybit TAOUSDT	+0.0100%	4h	319.43	−0.394%	$70.2M	$155.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.10	−0.497%	$26.6M	$129.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.00	−0.528%	$15.3M	$48.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.11	−0.494%	$17.5M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.94	−0.547%	$36.2M	$57.1M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	322.38	+0.526%	$46K	$256K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.55	−0.045%	$84K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	320.11	−0.182%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	319.91	−0.244%	$117K	$555K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.11	−0.182%	$3.2M	$8.1M	50x	as long as short
Popdex TAOUSDT	+0.0104%	1h	320.44	−0.079%	$50K	$690K	20x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	320.39	−0.095%	$656	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.41	−0.088%	$176K	$998	3x	as long as short
MEXC TAO_USDT	+0.0154%	4h	319.38	−0.410%	$106.9M	$149.4M	300x	as long as short
BingX TAO-USDT	+0.0158%	4h	319.34	−0.422%	—	$39.0M	—	as long as short
Binance TAOUSDT	+0.0161%	4h	319.33	−0.425%	$94.0M	$521.3M	75x	as long as short
edgeX TAOUSDC	+0.0161%	4h	322.73	+0.636%	$43K	$322K	10x	as long as short
Paradex TAO-USD-PERPlong	+0.0223%	8h	320.69	long leg	$15K	$876	10x
Orderly PERP_TAO_USDC	+0.0247%	4h	320.63	−0.020%	$53K	$274K	10x	as long as short
Extended TAO-USD	+0.0288%	1h	319.25	−0.452%	$964K	$2.2M	25x	as long as short
Pacifica TAO	+0.0301%	1h	320.96	+0.083%	$374K	$439K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0308%	4h	322.97	+0.710%	$549K	$826K	10x	as long as short
Aster TAOUSDT	+0.0325%	4h	319.30	−0.435%	$1.3M	$11.2M	50x	as long as short
Lighter TAO	+0.0344%	1h	319.23	−0.456%	$1.6M	$6.6M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0364% / S −0.0107%	1h	320.06	−0.199%	$376K	—	100x	as long as short
Arcus TAO-USD	+0.0364%	1h	321.16	+0.145%	$101K	$329K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0390%	1h	320.44	−0.080%	$19K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0401%	4h	320.44	−0.079%	$4.8M	$11.0M	100x	as long as short
Bullet TAO-USD	+0.0496%	1h	320.49	−0.063%	$13K	$17K	20x	as long as short
Variational Omni TAO	+0.0521%	4h	322.30	+0.502%	$5.7M	$9.8M	—	as long as short
Phoenix TAO	+0.0578%	1h	323.80	+0.969%	$326K	$712K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0678%	1h	320.44	−0.078%	$6.3M	$20.9M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	320.36	−0.103%	$368	—	20x	as long as short
RISEx TAO/USDC	+0.0701%	1h	320.31	−0.121%	$443K	$714K	5x	as long as short
Nado TAO-PERPshort	+0.0722%	1h	320.15	−0.169%	$733K	$2.0M	10x
01 Exchange TAOUSD	+0.0768%	1h	320.76	+0.021%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0782%	1h	319.12	−0.491%	$299K	$1.1M	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0832%	1h	320.57	−0.038%	$1.1M	$7.5M	50x	as long as short
Hyperliquid TAO	+0.1048%	1h	319.58	−0.347%	$96.4M	$109.9M	5x	as long as short
dYdX TAO-USD	+0.1238%	1h	320.43	−0.082%	$270K	$232K	5x	as long as short
Injective TAO/USDC PERP	+0.3320%	1h	327.96	+2.266%	$24K	$2K	12x	as long as short