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Funding arb · Price arb /

TAO

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.042%
Price spread now: Bybit against Nado−0.047%7-day average +0.022% · 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−$46as in the Price arb table
costs, in and out, $10k−$390.388% of the position
Long on NadoShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.052%−$5 on $10k
Price spread, last 3 days (all we have)−0.205%−$20 · spread now −0.047%, 7d avg +0.022%
Together, before fees−0.257%+ Points / potential airdropNado: Active · farm board−$26 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.069% cheaper against Nado than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.022%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.052% in total (about -6.1% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado TAO-PERP303.500.0436pay 0.0055% / 1h45m 33s$826K$1.9M10x
ShortBybit TAOUSDT303.360.0100get 0.0050% / 4h1h 45m$58.8M$120.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
−$70.66
Price spread: −0.047% → +0.022%
−$6.94
Slippage, 4 orders
−$20.85
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$116.45
Costs to cover
0.388%
Break-even
never at this rate
Slippage from Nado: live order book, 3 min ago; Bybit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Nado live order book, 3 min ago1.98 bp7.6 bp −$819.6 bp −$196doesn't fitdoesn't fit
Sell Bybit live order book, 4 min ago0.16 bp12.0 bp −$1221.0 bp −$21046.5 bp −$4,645doesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.0466%1h307.38+1.278%$202K$17K10xas long as short
dYdX TAO-USD0.0000%1h303.51+0.001%$124K$85K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0007%1h303.52+0.006%$26K—150xas long as short
Popdex TAOUSDT+0.0096%1h303.32−0.060%$43K$535K20xas long as short
Binance TAOUSDT+0.0100%4h303.32−0.060%$84.9M$410.2M75xas long as short
Bybit TAOUSDTshort+0.0100%4h303.36−0.047%$58.8M$120.6M50x
OKX TAO-USDT-SWAP+0.0100%8h303.50−0.001%$24.4M$94.5M50xas long as short
Arcus TAO-USD+0.0100%1h303.52+0.006%$79K$642K5xas long as short
Gate TAO_USDT+0.0100%4h303.30−0.067%$12.1M$48.4M50xas long as short
MEXC TAO_USDT+0.0100%4h303.27−0.077%$120.5M$124.1M300xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin TAOUSDTM+0.0100%4h303.42−0.027%$18.2M$26.9M75xas long as short
Bitget TAOUSDT+0.0100%4h303.46−0.014%$33.9M$45.6M50xas long as short
BingX TAO-USDT+0.0100%4h303.30−0.067%—$30.4M—as long as short
Variational Omni TAO+0.0100%4h305.07+0.516%$3.6M$6.6M—as long as short
edgeX TAOUSDC+0.0100%4h303.67+0.055%$39K$279K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h303.73+0.076%$502K$967K10xas long as short
Polymarket Perps TAO-USD+0.0100%1h303.64+0.045%$77K$607K5xas long as short
Bullet TAO-USD+0.0100%1h304.05+0.181%$11K$18K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h303.80+0.098%$58K$276K10xas long as short
SunX TAO-USDT+0.0100%4h303.94+0.144%$1K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h303.83+0.108%$120K$356K20xas long as short
Phemex TAOUSDT+0.0100%4h303.84+0.111%$3.2M$7.8M50xas long as short
Aevo TAO-PERP+0.0104%1h303.63+0.041%$167K$9983xas long as short
Aster TAOUSDT+0.0108%4h303.49−0.003%$1.1M$7.7M50xas long as short
Katana Perps TAO-USD+0.0112%8h303.28−0.073%$621$486K5xas long as short
Paradex TAO-USD-PERP+0.0153%8h303.36−0.047%$14K$1K10xas long as short
Pacifica TAO+0.0164%1h303.66+0.053%$359K$370K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0069%1h303.71+0.067%$434K—100xas long as short
ApeX Omni TAOUSDT+0.0233%1h304.06+0.184%$46K$269K50xas long as short
BloFin TAO-USDT+0.0340%4h303.45−0.017%$4.3M$9.3M100xas long as short
Deribit TAO_USDC-PERPETUAL+0.0346%1h303.74+0.079%$20K$1.4M25xas long as short
Backpack TAO_USDC_PERP+0.0381%1h303.78+0.091%$376K$756K10xas long as short
01 Exchange TAOUSD+0.0392%1h303.48−0.007%$3K$4K5xas long as short
Lighter TAO+0.0408%1h304.20+0.231%$1.6M$5.2M5xas long as short
Nado TAO-PERPlong+0.0436%1h303.50long leg$826K$1.9M10x
Phoenix TAO+0.0521%1h303.90+0.131%$322K$491K5xas long as short
Reya TAORUSDPERP+0.0695%1h303.55+0.014%$349—20xas long as short
Extended TAO-USD+0.0832%1h303.21−0.098%$835K$2.0M25xas long as short
Coinbase International TAO-PERP-INTX+0.1008%1h305.27+0.582%$1.5M$5.6M50xas long as short
Kraken Futures PF_TAOUSD+0.1040%1h303.74+0.079%$5.8M$19.7M50xas long as short
RISEx TAO/USDC+0.1155%1h303.41−0.030%$409K$545K5xas long as short
Hyperliquid TAO+0.1288%1h304.23+0.240%$92.8M$79.8M5xas long as short
Injective TAO/USDC PERP+0.1621%1h308.73+1.722%$22K$26412xas long as short