TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0029%/8h= −3.1% APRnext payment −$0.04 per $10,000 · paid last 24h −0.038%

Price spread now: Nado against Phoenix+0.148%7-day average −0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.177%−$18 on $10k

Price spread, last 3 days (all we have)−0.231%−$23 · spread now +0.148%, 7d avg −0.140%

Together, before fees−0.408%+ Points / potential airdropNado: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.287% dearer against Phoenix than usual: you sell high and buy low (spread +0.148% now, against its 7-day average of −0.140%): +$29 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 33 days. At the pace of the last 3 days (−0.177% in total) that is about 5.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix TAO	312.80	0.0537	pay 0.0067% / 1h	39m 12s	$327K	$521K	5x
Short	Nado TAO-PERP	313.26	0.0509	get 0.0064% / 1h	39m 12s	$830K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phoenix. 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 PhoenixbpFee NadobpOrdersPrice spread, now +0.148%Rate

Funding earned: −$6.03
Price spread: +0.148% → −0.140%: $28.74
Slippage, 4 orders: −$35.87
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$27.17
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from Phoenix: live order book, 38 min ago; Nado: live order book, 5 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 Phoenix live order book, 38 min ago	3.27 bp	12.3 bp −$12	23.0 bp −$230	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	2.56 bp	9.1 bp −$9	17.8 bp −$178	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
Bulk TAO-USD	−0.4478%	1h	313.97	+0.374%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.64	−0.051%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.85	+0.015%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.508%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.25	+0.144%	$41K	$552K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.17	+0.118%	$371K	$369K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.16	+0.115%	$88.6M	$425.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.33	+0.169%	$61.4M	$124.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	+0.096%	$25.1M	$100.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.90	+0.032%	$12.7M	$49.3M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.06	+0.083%	$120.4M	$127.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.08	+0.090%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.77	−0.010%	$34.9M	$46.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.10	+0.096%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.40	−0.127%	$40K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.53	−0.086%	$526K	$948K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.93	+0.042%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.85	+0.016%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.08	+0.090%	$128K	$395K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.83	+0.010%	$3.3M	$7.9M	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.14	+0.108%	$11K	$17K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.14	+0.108%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.28	+0.153%	$2K	$541K	5x	as long as short
Polymarket Perps TAO-USD	+0.0116%	1h	313.26	+0.147%	$77K	$520K	5x	as long as short
ApeX Omni TAOUSDT	+0.0118%	1h	312.28	−0.166%	$47K	$270K	50x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.44	+0.205%	$83K	$626K	5x	as long as short
Paradex TAO-USD-PERP	+0.0187%	8h	313.06	+0.084%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0194%	4h	312.41	−0.126%	$3.9M	$7.0M	—	as long as short
Aster TAOUSDT	+0.0198%	4h	313.03	+0.074%	$1.1M	$7.9M	50x	as long as short
BloFin TAO-USDT	+0.0347%	4h	313.20	+0.128%	$4.4M	$10.2M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0405%	1h	312.99	+0.062%	$19K	$1.4M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.92	+0.039%	$5.8M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	312.80	+0.001%	$449K	—	100x	as long as short
Nado TAO-PERPshort	+0.0509%	1h	313.26	+0.148%	$830K	$2.0M	10x
Backpack TAO_USDC_PERP	+0.0537%	1h	312.70	−0.032%	$300K	$799K	10x	as long as short
Phoenix TAOlong	+0.0537%	1h	312.80	long leg	$327K	$521K	5x
Reya TAORUSDPERP	+0.0695%	1h	313.02	+0.070%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0720%	1h	313.50	+0.224%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	312.94	+0.046%	$863K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.64	+0.588%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.46	+0.213%	$432K	$548K	5x	as long as short
Lighter TAO	+0.1352%	1h	313.47	+0.214%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.1893%	1h	313.59	+0.253%	$97.6M	$83.2M	5x	as long as short