Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h −0.049%

Price spread now: Paradex against Nado−0.119%50s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Paradex

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 airdropNado: Active · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Paradex is 0.119% cheaper against Nado than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado TAO-PERP	314.45	0.0424	pay 0.0053% / 1h	58m 33s	$669K	$2.0M	10x
Short	Paradex TAO-USD-PERP	314.08	0.0301	get 0.0301% / 8h	4h 58m	$14K	$769	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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

Position, each leg$Hold fordaysFee NadobpFee ParadexbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$25.69
Price spread: −0.119% → 0.000%: −$11.93
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$48.62
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 3 min ago; Paradex: no order-book sample. 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 Nado live order book, 3 min ago	1.43 bp	7.8 bp −$8	21.9 bp −$219	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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 exchanges

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 −0.0003%	1h	314.29	−0.052%	$19K	—	150x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.20	−0.080%	$26.8M	$125.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.80	−0.208%	$16.1M	$46.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.02	−0.138%	$17.4M	$31.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.88	−0.182%	$35.5M	$54.8M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.63	+0.056%	$45K	$254K	50x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.23	−0.071%	$2K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.09	−0.115%	$114K	$552K	20x	as long as short
Katana Perps TAO-USD	+0.0102%	8h	313.97	−0.153%	$1K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	314.11	−0.108%	$947K	$2.0M	25x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo TAO-PERP	+0.0120%	1h	314.81	+0.113%	$173K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0121%	1h	314.35	−0.033%	$69K	$1.1M	5x	as long as short
edgeX TAOUSDC	+0.0161%	4h	314.64	+0.061%	$42K	$326K	10x	as long as short
MEXC TAO_USDT	+0.0168%	4h	314.18	−0.087%	$111.3M	$146.1M	300x	as long as short
Binance TAOUSDT	+0.0169%	4h	314.13	−0.103%	$93.2M	$506.8M	75x	as long as short
Pacifica TAO	+0.0223%	1h	314.25	−0.066%	$372K	$445K	10x	as long as short
Popdex TAOUSDT	+0.0272%	1h	314.09	−0.115%	$54K	$634K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0276%	4h	314.63	+0.056%	$53K	$262K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0278%	4h	314.74	+0.091%	$535K	$786K	10x	as long as short
Paradex TAO-USD-PERPshort	+0.0301%	8h	314.08	−0.119%	$14K	$769	10x
BingX TAO-USDT	+0.0310%	4h	314.12	−0.106%	—	$37.6M	—	as long as short
Aster TAOUSDT	+0.0343%	4h	314.26	−0.061%	$1.2M	$11.3M	50x	as long as short
Phemex TAOUSDT	+0.0353%	4h	314.53	+0.025%	$3.2M	$8.2M	50x	as long as short
Bybit TAOUSDT	+0.0359%	4h	314.21	−0.077%	$69.4M	$154.1M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0368% / S −0.0111%	1h	314.35	−0.032%	$376K	—	100x	as long as short
BloFin TAO-USDT	+0.0409%	4h	314.86	+0.130%	$4.9M	$10.5M	100x	as long as short
Lighter TAO	+0.0416%	1h	314.27	−0.059%	$1.5M	$6.7M	5x	as long as short
Nado TAO-PERPlong	+0.0424%	1h	314.45	long leg	$669K	$2.0M	10x
Bullet TAO-USD	+0.0542%	1h	314.79	+0.106%	$12K	$16K	20x	as long as short
Variational Omni TAO	+0.0583%	4h	314.68	+0.073%	$5.8M	$9.7M	—	as long as short
Arcus TAO-USD	+0.0587%	1h	314.45	−0.001%	$99K	$286K	5x	as long as short
Phoenix TAO	+0.0650%	1h	315.00	+0.174%	$317K	$701K	5x	as long as short
Hyperliquid TAO	+0.0668%	1h	314.20	−0.079%	$94.2M	$105.1M	5x	as long as short
RISEx TAO/USDC	+0.0694%	1h	314.03	−0.133%	$439K	$657K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	314.51	+0.018%	$362	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0723%	1h	314.67	+0.070%	$27K	$1.9M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0728%	1h	314.45	−0.001%	$1.1M	$7.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0858%	1h	314.77	+0.099%	$6.3M	$19.5M	50x	as long as short
dYdX TAO-USD	+0.0873%	1h	313.77	−0.217%	$265K	$230K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0885%	1h	314.89	+0.139%	$296K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.0916%	1h	314.85	+0.125%	$167K	$662	10x	as long as short
01 Exchange TAOUSD	+0.0976%	1h	314.54	+0.028%	$3K	$2K	5x	as long as short
Injective TAO/USDC PERP	+0.4136%	1h	318.16	+1.179%	$23K	$2K	12x	as long as short