Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h +0.069%

Price spread now: Nado against Bybit−0.026%7-day average +0.003% · 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−$35as in the Price arb table

costs, in and out, $10k−$320.324% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.077%+$8 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.026%, 7d avg +0.003%

Together, before fees+0.089%+ Points / potential airdropNado: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.029% cheaper against Bybit than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.003%). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	312.67	0.0200	pay 0.0100% / 4h	3h 16m	$67.4M	$150.6M	50x
Short	Nado TAO-PERP	312.59	0.0333	get 0.0042% / 1h	16m 20s	$789K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. 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 BybitbpFee NadobpOrdersPrice spread, now −0.026%Rate

Funding earned: $27.96
Price spread: −0.026% → +0.003%: −$2.91
Slippage, 4 orders: −$14.42
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$7.36
Costs to cover: 0.324%
Break-even: 8.8 days

Slippage from Bybit: live order book, 3 min ago; Nado: live order book, 2 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 Bybit live order book, 3 min ago	0.16 bp	9.1 bp −$9	17.3 bp −$173	44.6 bp −$4,456	doesn't fit
Sell Nado live order book, 2 min ago	0.96 bp	6.7 bp −$7	16.4 bp −$164	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
Kraken Futures PF_TAOUSD	−0.0347%	1h	312.44	−0.074%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.33	−0.109%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0011%	1h	312.57	−0.032%	$125K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.56	−0.035%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	312.45	−0.070%	$640	$845K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.87	+0.065%	$356K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.61	−0.019%	$89.5M	$501.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.60	−0.022%	$26.1M	$121.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.40	−0.086%	$13.3M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.96	+0.093%	$103.0M	$145.5M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	312.46	−0.067%	$17.8M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.20	−0.150%	$35.0M	$56.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.63	−0.333%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.55	−0.359%	$529K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.33	−0.109%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.40	−0.086%	$82K	$905K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.63	−0.013%	$12K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.33	−0.109%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.03	+0.115%	$111K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.17	+0.160%	$3.1M	$8.0M	50x	as long as short
BingX TAO-USDT	+0.0104%	4h	312.52	−0.048%	—	$33.7M	—	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.71	+0.014%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	312.53	−0.045%	$52K	$290K	10x	as long as short
Aster TAOUSDT	+0.0117%	4h	312.55	−0.038%	$1.3M	$10.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0136% / S +0.0132%	1h	312.30	−0.120%	$422K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0160%	8h	312.93	+0.082%	$14K	$1K	10x	as long as short
Bybit TAOUSDTlong	+0.0200%	4h	312.67	long leg	$67.4M	$150.6M	50x
Arcus TAO-USD	+0.0231%	1h	313.06	+0.125%	$101K	$394K	5x	as long as short
Variational Omni TAO	+0.0308%	4h	311.97	−0.224%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0320%	1h	312.43	−0.075%	$914K	$2.4M	25x	as long as short
Nado TAO-PERPshort	+0.0333%	1h	312.59	−0.026%	$789K	$2.2M	10x
BloFin TAO-USDT	+0.0340%	4h	313.40	+0.233%	$4.5M	$10.8M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0428%	1h	312.50	−0.053%	$13K	$1.8M	25x	as long as short
Phoenix TAO	+0.0457%	1h	313.70	+0.329%	$312K	$711K	5x	as long as short
Hyperliquid TAO	+0.0475%	1h	312.74	+0.022%	$91.9M	$107.8M	5x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	312.97	+0.096%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0509%	1h	312.89	+0.070%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0632%	1h	313.05	+0.120%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.52	−0.048%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.63	−0.013%	$443K	$647K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.559%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	314.25	+0.505%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	316.67	+1.279%	$23K	$2K	12x	as long as short