TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0363%/8h= −39.8% APRnext payment −$0.45 per $10,000 · paid last 24h −0.076%

Price spread now: Popdex against Nado−0.233%7-day average +0.002% · 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−$59as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Nado Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.095%−$9 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.233%, 7d avg +0.002%

Together, before fees+0.044%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Popdex is 0.235% cheaper against Nado than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.095% in total (about -9.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 per $10,000. 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	Nado TAO-PERP	320.42	0.0459	pay 0.0057% / 1h	8m 42s	$788K	$2.0M	10x
Short	Popdex TAOUSDT	319.67	0.0096	get 0.0012% / 1h	8m 42s	$48K	$714K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.233%Rate

Funding earned: −$76.33
Price spread: −0.233% → +0.002%: −$23.48
Slippage, 4 orders: −$22.58
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$135.78
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; Popdex: live order book, 30 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 Nado live order book, 5 min ago	2.03 bp	8.1 bp −$8	18.7 bp −$187	doesn't fit	doesn't fit
Sell Popdex live order book, 30 min ago	2.21 bp	10.4 bp −$10	97.7 bp −$977	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	319.24	−0.369%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0067%	1h	319.39	−0.321%	$128K	$86K	5x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	319.67	−0.233%	$48K	$714K	20x
OKX TAO-USDT-SWAP	+0.0100%	8h	319.10	−0.411%	$26.6M	$132.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.20	−0.380%	$14.8M	$52.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.45	−0.302%	$17.9M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.56	−0.268%	$36.1M	$58.1M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.28	−0.043%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.07	−0.421%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.76	−0.517%	$117K	$603K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX TAO/USD [WBTC.b-USDC]	L +0.0103% / S +0.0137%	1h	319.32	−0.343%	$412K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	319.55	−0.271%	$1K	$1.2M	5x	as long as short
ApeX Omni TAOUSDT	+0.0121%	1h	319.65	−0.240%	$46K	$259K	50x	as long as short
Aevo TAO-PERP	+0.0128%	1h	319.49	−0.291%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0178%	4h	319.33	−0.339%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0189%	4h	319.75	−0.210%	$42K	$319K	10x	as long as short
MEXC TAO_USDT	+0.0194%	4h	319.57	−0.264%	$104.5M	$152.8M	300x	as long as short
Binance TAOUSDT	+0.0195%	4h	319.59	−0.258%	$92.5M	$533.5M	75x	as long as short
Paradex TAO-USD-PERP	+0.0265%	8h	319.66	−0.238%	$15K	$1K	10x	as long as short
BingX TAO-USDT	+0.0272%	4h	319.70	−0.224%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0285%	4h	319.70	−0.224%	$70.3M	$157.3M	50x	as long as short
Bullet TAO-USD	+0.0303%	1h	319.86	−0.174%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	319.69	−0.228%	$375K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	319.67	−0.234%	$544K	$896K	10x	as long as short
Aster TAOUSDT	+0.0356%	4h	319.68	−0.230%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	319.40	−0.318%	$911K	$2.4M	25x	as long as short
Phemex TAOUSDT	+0.0398%	4h	319.20	−0.380%	$3.2M	$8.1M	50x	as long as short
BloFin TAO-USDT	+0.0435%	4h	319.37	−0.327%	$4.7M	$11.0M	100x	as long as short
Nado TAO-PERPlong	+0.0459%	1h	320.42	long leg	$788K	$2.0M	10x
Deribit TAO_USDC-PERPETUAL	+0.0460%	1h	319.13	−0.403%	$15K	$1.9M	25x	as long as short
Arcus TAO-USD	+0.0473%	1h	319.93	−0.152%	$101K	$384K	5x	as long as short
Variational Omni TAO	+0.0568%	4h	319.84	−0.180%	$5.6M	$10.1M	—	as long as short
Phoenix TAO	+0.0629%	1h	319.90	−0.162%	$322K	$703K	5x	as long as short
Lighter TAO	+0.0632%	1h	319.75	−0.208%	$1.6M	$6.9M	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	320.17	−0.077%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	320.38	−0.013%	$368	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0700%	1h	319.31	−0.346%	$298K	$905K	10x	as long as short
Hyperliquid TAO	+0.0706%	1h	319.88	−0.168%	$94.7M	$110.1M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0830%	1h	319.30	−0.348%	$6.0M	$21.7M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	319.66	−0.238%	$453K	$662K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.59	−0.258%	$1.3M	$7.2M	50x	as long as short
Bulk TAO-USD	+0.1572%	1h	317.17	−1.014%	$169K	$0	10x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.44	+0.631%	$23K	$2K	12x	as long as short