Funding you earn now, next payment 11:00 UTC−0.0205%/8h= −22.4% APRnext payment −$0.26 per $10,000 · paid last 24h −0.032%
Price spread now: Nado against Backpack+0.081%7-day average −0.046% · 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−$19as in the Price arb table
costs, in and out, $10k−$320.317% of the position
Funding, last 4 days (all we have)−0.033%−$3 on $10k
+Price spread, last 4 days (all we have)+0.051%+$5 · spread now +0.081%, 7d avg −0.046%
=Together, before fees+0.017%+ Points / potential airdropNado: Active · farm board+$2 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.127% dearer against Backpack than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of −0.046%): +$13 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 4 days (−0.033% in total) that is about 14 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.033% in total (about -3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack TAO_USDC_PERP | 317.57 | 0.0595 | pay 0.0074% / 1h | 54m 41s | $298K | $1.1M | 10x |
| Short | Nado TAO-PERP | 317.83 | 0.0390 | get 0.0049% / 1h | 54m 41s | $702K | $2.0M | 10x |
Backpack TAO_USDC_PERP
Nado TAO-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$43.02
- Price spread: +0.081% → −0.046%
- $12.68
- Slippage, 4 orders
- −$14.69
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$62.03
- Costs to cover
- 0.317%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 2 min ago; Nado: live order book, 2 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 Backpack live order book, 2 min ago | 0.94 bp | 6.0 bp −$6 | 40.3 bp −$403 | doesn't fit | doesn't fit |
| Sell Nado live order book, 2 min ago | 2.67 bp | 9.2 bp −$9 | 18.8 bp −$188 | doesn't fit | doesn't fit |
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 | 318.29 | +0.227% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 317.76 | +0.060% | $52K | $631K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 317.30 | −0.085% | $26.9M | $128.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 317.10 | −0.148% | $15.8M | $47.2M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 316.99 | −0.183% | $17.6M | $31.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 317.04 | −0.167% | $35.9M | $56.1M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 319.54 | +0.620% | $45K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 317.41 | −0.050% | $81K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 317.42 | −0.047% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 317.57 | 0.000% | $113K | $563K | 20x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDTShow all 43 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TAOUSDT | +0.0100% | 4h | 317.44 | −0.041% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0104% | 8h | 317.22 | −0.110% | $895 | $1.3M | 5x | as long as short |
| Bybit TAOUSDT | +0.0106% | 4h | 317.21 | −0.113% | $69.4M | $155.5M | 50x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 317.75 | +0.055% | $174K | $998 | 3x | as long as short |
| MEXC TAO_USDT | +0.0146% | 4h | 317.33 | −0.076% | $103.6M | $146.9M | 300x | as long as short |
| Binance TAOUSDT | +0.0146% | 4h | 317.24 | −0.102% | $93.3M | $511.5M | 75x | as long as short |
| BingX TAO-USDT | +0.0152% | 4h | 317.31 | −0.082% | — | $38.0M | — | as long as short |
| edgeX TAOUSDC | +0.0153% | 4h | 318.61 | +0.327% | $42K | $322K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0208% | 8h | 317.18 | −0.122% | $14K | $876 | 10x | as long as short |
| Bullet TAO-USD | +0.0208% | 1h | 317.85 | +0.088% | $12K | $17K | 20x | as long as short |
| Extended TAO-USD | +0.0216% | 1h | 317.30 | −0.084% | $953K | $2.1M | 25x | as long as short |
| Lighter TAO | +0.0232% | 1h | 317.33 | −0.077% | $1.6M | $6.6M | 5x | as long as short |
| Pacifica TAO | +0.0240% | 1h | 317.24 | −0.103% | $376K | $456K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0256% | 4h | 317.67 | +0.031% | $53K | $262K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0286% | 4h | 318.50 | +0.293% | $543K | $805K | 10x | as long as short |
| Aster TAOUSDT | +0.0314% | 4h | 317.28 | −0.091% | $1.2M | $11.2M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0316% | 1h | 317.63 | +0.017% | $15K | $1.9M | 25x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0360% / S −0.0107% | 1h | 317.22 | −0.112% | $373K | — | 100x | as long as short |
| Nado TAO-PERPshort | +0.0390% | 1h | 317.83 | +0.081% | $702K | $2.0M | 10x | |
| BloFin TAO-USDT | +0.0390% | 4h | 317.48 | −0.028% | $4.8M | $10.4M | 100x | as long as short |
| Hyperliquid TAO | +0.0434% | 1h | 317.44 | −0.041% | $95.6M | $106.9M | 5x | as long as short |
| Variational Omni TAO | +0.0445% | 4h | 318.15 | +0.184% | $5.7M | $9.8M | — | as long as short |
| Phoenix TAO | +0.0567% | 1h | 319.60 | +0.639% | $321K | $710K | 5x | as long as short |
| dYdX TAO-USD | +0.0568% | 1h | 316.92 | −0.204% | $267K | $230K | 5x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0595% | 1h | 317.57 | long leg | $298K | $1.1M | 10x | |
| Arcus TAO-USD | +0.0610% | 1h | 317.68 | +0.035% | $100K | $311K | 5x | as long as short |
| RISEx TAO/USDC | +0.0666% | 1h | 317.29 | −0.088% | $431K | $683K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0688% | 1h | 317.73 | +0.050% | $1.1M | $7.6M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 317.69 | +0.039% | $365 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0752% | 1h | 317.87 | +0.094% | $3K | $2K | 5x | as long as short |
| Bulk TAO-USD | +0.0807% | 1h | 318.75 | +0.372% | $169K | $0 | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0928% | 1h | 317.56 | −0.002% | $6.2M | $19.5M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4405% | 1h | 322.67 | +1.606% | $23K | $2K | 12x | as long as short |
Phemex TAOUSDT
Katana Perps TAO-USD
Bybit TAOUSDT
Aevo TAO-PERP
MEXC TAO_USDT
Binance TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
Paradex TAO-USD-PERP
Bullet TAO-USD
Extended TAO-USD
Lighter TAO
Pacifica TAO
Orderly PERP_TAO_USDC
GRVT TAO_USDT_Perp
Aster TAOUSDT
Deribit TAO_USDC-PERPETUAL
GMX TAO/USD [WBTC.b-USDC]
BloFin TAO-USDT
Hyperliquid TAO
Variational Omni TAO
Phoenix TAO
dYdX TAO-USD
Arcus TAO-USD
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Reya TAORUSDPERP
01 Exchange TAOUSD
Bulk TAO-USD
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP