Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0115%/8h= +12.5% APRpaid last 24h +0.068%

Price spread now: Nado against edgeX−0.153%62s7-day average 0.000% · 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—prices read too far apart to compare

costs, in and out, $10k−$360.362% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now −0.153%, 7d avg 0.000%

Together, before fees+0.090%+ Points / potential airdropedgeX: Active · Nado: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.154% cheaper against edgeX than usual: you would sell low and buy high (spread −0.153% now, against its 7-day average of 0.000%). If the spread goes back, that is −$15 on $10k: about 4.5 days of funding at the current rate (+$3 a day). The two prices were read 62 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	edgeX TAOUSDC	315.19	0.0100	pay 0.0050% / 4h	13m 50s	$42K	$313K	10x
Short	Nado TAO-PERP	314.71	0.0215	get 0.0027% / 1h	13m 50s	$800K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now −0.153%Rate

Funding earned: $24.06
Price spread: −0.153% → 0.000%: −$15.38
Slippage, 4 orders: −$20.17
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$27.49
Costs to cover: 0.362%
Break-even: 15.0 days

Slippage from edgeX: live order book, 44 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 edgeX live order book, 44 min ago	6.36 bp	10.9 bp −$11	22.7 bp −$227	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	1.11 bp	6.9 bp −$7	18.6 bp −$186	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
dYdX TAO-USD	0.0000%	1h	314.54	−0.206%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.49	−0.223%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.59	−0.191%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.84	−0.111%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.71	−0.153%	$644	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.68	−0.161%	$90.9M	$494.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.84	−0.111%	$67.7M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	−0.156%	$26.0M	$120.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.40	−0.251%	$12.9M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.67	−0.165%	$110.6M	$144.1M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.57	−0.197%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.42	−0.245%	$35.1M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.58	−0.194%	—	$32.9M	—	as long as short
edgeX TAOUSDClong	+0.0100%	4h	315.19	long leg	$42K	$313K	10x
GRVT TAO_USDT_Perp	+0.0100%	4h	315.53	+0.109%	$522K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.11	−0.026%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.60	−0.187%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.72	−0.149%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.75	−0.140%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.63	−0.495%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.61	−0.184%	$3.2M	$8.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.68	−0.162%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.71	−0.152%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.59	−0.191%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0145% / S +0.0122%	1h	314.46	−0.233%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0157%	8h	314.97	−0.069%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0176%	4h	314.69	−0.157%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	314.54	−0.208%	$923K	$2.4M	25x	as long as short
Nado TAO-PERPshort	+0.0215%	1h	314.71	−0.153%	$800K	$2.2M	10x
Hyperliquid TAO	+0.0267%	1h	314.83	−0.114%	$92.6M	$106.5M	5x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	314.92	−0.086%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.96	−0.073%	$4.6M	$10.9M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0344%	1h	314.73	−0.146%	$315K	$913K	10x	as long as short
Lighter TAO	+0.0344%	1h	314.99	−0.064%	$1.5M	$6.5M	5x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.12	−0.022%	$99K	$438K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0354%	1h	314.62	−0.180%	$23K	$1.7M	25x	as long as short
Pacifica TAO	+0.0365%	1h	314.82	−0.117%	$359K	$412K	10x	as long as short
Variational Omni TAO	+0.0461%	4h	315.17	−0.007%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.40	+0.066%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.76	−0.138%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.85	−0.110%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.12	+0.295%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+0.952%	$23K	$2K	12x	as long as short