Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0131%/8h= −14.3% APRpaid last 24h −0.041%

Price spread now: Aster against Nado+0.198%7-day average +0.066% · 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−$18as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.049%+$5 on $10k

Price spread, last 7 days−0.014%−$1 · spread now +0.198%, 7d avg +0.066%

Together, before fees+0.035%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.131% dearer against Nado than usual: you sell high and buy low (spread +0.198% now, against its 7-day average of +0.066%): +$13 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado TAO-PERP	317.25	0.0473	pay 0.0059% / 1h	15m 18s	$781K	$2.0M	10x
Short	Aster TAOUSDT	317.88	0.0343	get 0.0171% / 4h	15m 18s	$1.3M	$11.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.198%Rate

Funding earned: −$27.43
Price spread: +0.198% → +0.066%: $13.15
Slippage, 4 orders: −$16.04
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$45.32
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Nado: live order book, 3 min ago; Aster: live order book, 4 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, 3 min ago	0.94 bp	6.5 bp −$6	14.7 bp −$147	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	1.10 bp	8.5 bp −$8	19.2 bp −$192	126.5 bp −$12.6K	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	316.96	−0.091%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0075%	1h	317.28	+0.009%	$127K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.61	+0.114%	$46K	$714K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.80	+0.174%	$26.5M	$131.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.00	−0.078%	$14.7M	$52.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.56	+0.099%	$17.9M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.47	+0.070%	$35.7M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.50	+0.080%	$46K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.08	−0.053%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.27	+0.007%	$2K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	317.17	−0.024%	$116K	$603K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0104% / S +0.0139%	1h	316.95	−0.092%	$404K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	317.38	+0.042%	$1K	$1.1M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	317.53	+0.088%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0169%	4h	317.35	+0.032%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0177%	4h	317.99	+0.235%	$42K	$321K	10x	as long as short
Binance TAOUSDT	+0.0180%	4h	317.78	+0.169%	$91.9M	$531.5M	75x	as long as short
MEXC TAO_USDT	+0.0182%	4h	317.84	+0.187%	$103.3M	$152.4M	300x	as long as short
Paradex TAO-USD-PERP	+0.0249%	8h	317.61	+0.114%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0258%	4h	317.30	+0.017%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0266%	4h	318.02	+0.244%	$69.7M	$156.9M	50x	as long as short
Bullet TAO-USD	+0.0285%	1h	317.25	+0.002%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	317.55	+0.096%	$372K	$466K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0324%	4h	317.89	+0.202%	$541K	$907K	10x	as long as short
Aster TAOUSDTshort	+0.0343%	4h	317.88	+0.198%	$1.3M	$11.0M	50x
Extended TAO-USD	+0.0376%	1h	317.75	+0.158%	$904K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0420%	4h	317.47	+0.070%	$4.7M	$10.9M	100x	as long as short
Phemex TAOUSDT	+0.0459%	4h	317.65	+0.127%	$3.2M	$8.2M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0469%	1h	317.72	+0.149%	$15K	$1.9M	25x	as long as short
Nado TAO-PERPlong	+0.0473%	1h	317.25	long leg	$781K	$2.0M	10x
Arcus TAO-USD	+0.0473%	1h	317.80	+0.174%	$100K	$384K	5x	as long as short
Lighter TAO	+0.0544%	1h	317.98	+0.232%	$1.6M	$6.9M	5x	as long as short
Variational Omni TAO	+0.0560%	4h	318.03	+0.245%	$5.6M	$10.1M	—	as long as short
Phoenix TAO	+0.0629%	1h	318.40	+0.363%	$320K	$703K	5x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	317.99	+0.234%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0683%	1h	317.70	+0.143%	$296K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.09	−0.050%	$365	—	20x	as long as short
Hyperliquid TAO	+0.0706%	1h	317.29	+0.013%	$93.7M	$110.6M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.50	+0.078%	$450K	$662K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0834%	1h	317.78	+0.167%	$5.9M	$21.6M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.98	+0.231%	$1.4M	$7.0M	50x	as long as short
Bulk TAO-USD	+0.1572%	1h	317.17	−0.024%	$169K	$0	10x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	318.80	+0.489%	$23K	$2K	12x	as long as short