Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0512%/8h= +56.1% APRpaid last 24h +0.063%

Price spread now: Nado against KuCoin−0.246%51s7-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—prices read too far apart to compare

costs, in and out, $10k−$530.532% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.066%+$7 on $10k

Price spread, last 4 days (all we have)+1.481%+$148 · spread now −0.246%, 7d avg −0.003%

Together, before fees+1.547%+ Points / potential airdropNado: Active · farm board+$155 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.243% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.246% now, against its 7-day average of −0.003%). If the spread goes back, that is −$24 on $10k: about 38 hours of funding at the current rate (+$15 a day). At the pace of the last 3 days (+0.066% in total) that is about 12 days. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.066% in total (about 7.3% a year). A funding rate is set anew for every payment. 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	KuCoin TAOUSDTM	316.15	0.0100	pay 0.0050% / 4h	1h 49m	$18.1M	$30.6M	75x
Short	Nado TAO-PERP	315.37	0.0612	get 0.0077% / 1h	49m 40s	$760K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against KuCoin. 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 KuCoinbpFee NadobpOrdersPrice spread, now −0.246%Rate

Funding earned: $107.55
Price spread: −0.246% → −0.003%: −$24.31
Slippage, 4 orders: −$34.25
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $29.99
Costs to cover: 0.532%
Break-even: 5.0 days

Slippage from KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	2.99 bp	17.6 bp −$18	38.9 bp −$389	doesn't fit	doesn't fit
Sell Nado live order book, 4 min ago	2.20 bp	8.1 bp −$8	16.1 bp −$161	doesn't fit	doesn't fit

TAO on 42 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	−0.2257%	1h	317.17	+0.323%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.04	−0.035%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.32	−0.263%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.20	+0.016%	$46K	$649K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.20	+0.017%	$91.4M	$468.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.20	+0.016%	$26.1M	$115.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.00	−0.047%	$12.9M	$49.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.08	−0.022%	$104.7M	$137.9M	300x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	316.15	long leg	$18.1M	$30.6M	75x
Bitget TAOUSDT	+0.0100%	4h	315.88	−0.085%	$35.3M	$53.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.85	+0.539%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.20	−0.300%	$77K	$756K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.50	−0.206%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.01	−0.361%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.56	−0.503%	$129K	$475K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.27	−0.278%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.59	−0.176%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	316.33	+0.057%	$1K	$744K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0164% / S +0.0105%	1h	315.00	−0.364%	$428K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0212%	4h	317.35	+0.379%	$528K	$946K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0249%	1h	315.15	−0.315%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0291%	4h	316.16	+0.003%	$1.2M	$9.3M	50x	as long as short
Bullet TAO-USD	+0.0314%	1h	315.40	−0.239%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0341%	8h	316.16	+0.004%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0378%	1h	315.28	−0.274%	$30K	$1.6M	25x	as long as short
Pacifica TAO	+0.0448%	1h	316.36	+0.066%	$373K	$396K	10x	as long as short
ApeX Omni TAOUSDT	+0.0473%	1h	317.85	+0.538%	$48K	$253K	50x	as long as short
Phoenix TAO	+0.0504%	1h	317.80	+0.522%	$333K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.48	+0.104%	$100K	$489K	5x	as long as short
Nado TAO-PERPshort	+0.0612%	1h	315.37	−0.246%	$760K	$2.1M	10x
Reya TAORUSDPERP	+0.0696%	1h	315.27	−0.280%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0700%	4h	316.15	0.000%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0720%	4h	316.33	+0.057%	$67.4M	$139.2M	50x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	316.38	+0.073%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0878%	1h	315.35	−0.253%	$319K	$802K	10x	as long as short
Variational Omni TAO	+0.0881%	4h	317.62	+0.466%	$6.0M	$9.6M	—	as long as short
Extended TAO-USD	+0.0928%	1h	316.04	−0.035%	$896K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.77	+1.145%	$1.5M	$6.5M	50x	as long as short
Lighter TAO	+0.1056%	1h	316.49	+0.108%	$1.5M	$6.3M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.28	+0.041%	$447K	$626K	5x	as long as short
Hyperliquid TAO	+0.1429%	1h	316.86	+0.225%	$100.2M	$98.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+1.515%	$23K	$2K	12x	as long as short