Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0472%/8h= +51.7% APRpaid last 24h +0.063%

Price spread now: Nado against SunX+0.127%7-day average −0.010% · you sell dearer than you buy

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

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.072%+$7 on $10k

Price spread, last 4 days (all we have)−0.306%−$31 · spread now +0.127%, 7d avg −0.010%

Together, before fees−0.233%+ Points / potential airdropNado: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Nado is 0.137% dearer against SunX than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.010%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.072% in total (about 8.0% 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	SunX TAO-USDT	323.49	0.0100	pay 0.0050% / 4h	1h 28m	$2K	$1.9M	20x
Short	Nado TAO-PERP	323.90	0.0572	get 0.0071% / 1h	28m 08s	$793K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against SunX. 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 SunXbpFee NadobpOrdersPrice spread, now +0.127%Rate

Funding earned: $99.06
Price spread: +0.127% → −0.010%: $13.69
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $97.75
Costs to cover: 0.150%
Break-even: 0.1 days

Slippage unknown: SunX: live order book, 8 min ago; Nado: live order book, 1 min ago. 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 SunX live order book, 8 min ago	494.87 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	3.24 bp	11.1 bp −$11	22.8 bp −$228	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	−0.5583%	1h	316.49	−2.164%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	323.51	+0.006%	$129K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.60	+0.035%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	324.14	+0.201%	$34K	$675K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	323.88	+0.122%	$94.7M	$479.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.80	+0.096%	$26.7M	$120.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.50	+0.003%	$13.3M	$49.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	323.51	+0.006%	$100.5M	$141.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.84	+0.108%	$18.1M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.20	−0.090%	$36.2M	$54.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	324.24	+0.232%	$37K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.90	+0.127%	$87K	$791K	5x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	323.49	long leg	$2K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	323.73	+0.074%	$131K	$482K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.66	+0.053%	$3.5M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	323.86	+0.115%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	323.68	+0.059%	$58K	$282K	10x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	324.21	+0.223%	$689	$776K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0160% / S +0.0125%	1h	323.56	+0.022%	$449K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0242%	1h	323.74	+0.076%	$5.7M	$20.6M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0264%	4h	323.95	+0.142%	$537K	$964K	10x	as long as short
Bullet TAO-USD	+0.0285%	1h	323.88	+0.121%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0308%	8h	324.01	+0.161%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	322.64	−0.263%	$4.6M	$11.2M	100x	as long as short
Aster TAOUSDT	+0.0364%	4h	323.91	+0.130%	$1.2M	$9.6M	50x	as long as short
Pacifica TAO	+0.0448%	1h	323.81	+0.099%	$383K	$402K	10x	as long as short
Phoenix TAO	+0.0504%	1h	324.60	+0.343%	$339K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	324.27	+0.241%	$101K	$487K	5x	as long as short
BingX TAO-USDT	+0.0566%	4h	323.41	−0.025%	—	$30.3M	—	as long as short
Nado TAO-PERPshort	+0.0572%	1h	323.90	+0.127%	$793K	$2.2M	10x
Bybit TAOUSDT	+0.0572%	4h	323.94	+0.139%	$71.0M	$143.7M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0685%	1h	323.84	+0.109%	$21K	$1.6M	25x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	323.95	+0.142%	$373	—	20x	as long as short
ApeX Omni TAOUSDT	+0.0723%	1h	323.82	+0.102%	$48K	$253K	50x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	324.40	+0.281%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0848%	1h	323.70	+0.066%	$949K	$2.3M	25x	as long as short
Variational Omni TAO	+0.0868%	4h	323.85	+0.111%	$6.0M	$9.8M	—	as long as short
Lighter TAO	+0.0896%	1h	324.12	+0.194%	$1.6M	$6.3M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	324.38	+0.275%	$1.5M	$6.8M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1062%	1h	323.84	+0.108%	$445K	$860K	10x	as long as short
RISEx TAO/USDC	+0.1159%	1h	324.07	+0.181%	$458K	$640K	5x	as long as short
Hyperliquid TAO	+0.1269%	1h	323.83	+0.105%	$101.9M	$99.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	323.37	−0.037%	$24K	$2K	12x	as long as short