Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.002%

Price spread now: BloFin against Nado+0.027%7-day average +0.031% · 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−$37as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.168%+$17 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.027%, 7d avg +0.031%

Together, before fees+0.226%+ Points / potential airdropNado: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.168%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado TAO-PERP	320.27	0.0643	pay 0.0080% / 1h	43m 44s	$802K	$2.2M	10x
Short	BloFin TAO-USDT	320.36	0.0390	get 0.0195% / 4h	1h 43m	$4.7M	$11.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$52.99
Price spread: +0.027% → +0.031%: −$0.4
Slippage, 4 orders: −$17.31
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$89.69
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; BloFin: 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 Nado live order book, 5 min ago	1.25 bp	8.3 bp −$8	21.2 bp −$212	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	2.50 bp	9.3 bp −$9	10.3 bp −$103	18.2 bp −$1,823	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	−0.2101%	1h	320.87	+0.187%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	320.04	−0.074%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.84	−0.136%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.33	+0.018%	$41K	$695K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.00	−0.085%	$26.6M	$129.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.60	−0.210%	$14.2M	$51.6M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.92	−0.110%	$17.8M	$32.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.70	−0.179%	$35.9M	$58.3M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.44	+0.052%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.10	−0.054%	$75K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	319.93	−0.107%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.75	−0.163%	$118K	$589K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.21	−0.020%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.21	−0.020%	$727	$992K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.06	−0.065%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0121% / S +0.0156%	1h	319.84	−0.136%	$433K	—	100x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	320.04	−0.073%	$53K	$293K	10x	as long as short
MEXC TAO_USDT	+0.0150%	4h	319.83	−0.138%	$105.1M	$149.6M	300x	as long as short
edgeX TAOUSDC	+0.0153%	4h	320.18	−0.028%	$42K	$318K	10x	as long as short
Binance TAOUSDT	+0.0156%	4h	320.01	−0.082%	$92.6M	$527.0M	75x	as long as short
Paradex TAO-USD-PERP	+0.0264%	8h	320.15	−0.037%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0312%	4h	320.05	−0.068%	$1.3M	$10.9M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	319.92	−0.110%	—	$34.4M	—	as long as short
Bullet TAO-USD	+0.0387%	1h	320.22	−0.016%	$12K	$17K	20x	as long as short
BloFin TAO-USDTshort	+0.0390%	4h	320.36	+0.027%	$4.7M	$11.1M	100x
Bybit TAOUSDT	+0.0398%	4h	320.03	−0.076%	$69.9M	$155.9M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0408%	4h	319.77	−0.157%	$544K	$948K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	319.81	−0.144%	$917K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	320.22	−0.016%	$365K	$423K	10x	as long as short
Variational Omni TAO	+0.0538%	4h	319.36	−0.285%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	320.30	+0.009%	$319K	$709K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0573%	1h	319.97	−0.095%	$14K	$1.9M	25x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	320.61	+0.105%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0641%	1h	319.97	−0.094%	$300K	$908K	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.60	+0.102%	$103K	$394K	5x	as long as short
Nado TAO-PERPlong	+0.0643%	1h	320.27	long leg	$802K	$2.2M	10x
Hyperliquid TAO	+0.0667%	1h	320.17	−0.032%	$94.6M	$110.1M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	320.18	−0.030%	$368	—	20x	as long as short
Lighter TAO	+0.0856%	1h	320.32	+0.016%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	321.04	+0.240%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	320.29	+0.005%	$463K	$665K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1153%	1h	320.09	−0.057%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+2.491%	$24K	$2K	12x	as long as short