TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0075%/8h= +8.2% APRnext payment +$0.09 per $10,000 · paid last 24h +0.158%

Price spread now: Hyperliquid against Nado−0.056%7-day average +0.053% · 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−$44as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Nado Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.285%+$28 on $10k

Price spread, last 7 days+0.129%+$13 · spread now −0.056%, 7d avg +0.053%

Together, before fees+0.414%+ Points / potential airdropNado: Active · Hyperliquid: Season 2 · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.109% cheaper against Nado than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of +0.053%). If the spread goes back, that is −$11 on $10k: about 4.9 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.285% in total) that is about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado TAO-PERP	321.72	0.0598	pay 0.0075% / 1h	55m 03s	$804K	$2.2M	10x
Short	Hyperliquid TAO	321.54	0.0673	get 0.0084% / 1h	55m 03s	$95.1M	$110.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.056%Rate

Funding earned: $15.67
Price spread: −0.056% → +0.053%: −$10.93
Slippage, 4 orders: −$16.95
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$28.22
Costs to cover: 0.330%
Break-even: 19.6 days

Slippage from Nado: live order book, 4 min ago; Hyperliquid: live order book, 9 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, 4 min ago	0.15 bp	8.7 bp −$9	26.0 bp −$260	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.08 bp	8.7 bp −$9	doesn't fit	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	−0.1440%	1h	322.10	+0.117%	$171K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	322.84	+0.347%	$129K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	321.24	−0.151%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.28	+0.174%	$40K	$690K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	321.30	−0.131%	$26.7M	$129.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.10	−0.193%	$14.2M	$51.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.50	−0.068%	$17.6M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.00	−0.224%	$36.2M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	324.34	+0.814%	$47K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	321.71	−0.003%	$87K	$1.0M	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	321.35	−0.115%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	321.52	−0.062%	$118K	$584K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	321.45	−0.084%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	322.29	+0.177%	$731	$969K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	321.56	−0.050%	$53K	$292K	10x	as long as short
Aevo TAO-PERP	+0.0120%	1h	321.79	+0.022%	$177K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0124% / S +0.0144%	1h	321.08	−0.198%	$430K	—	100x	as long as short
Binance TAOUSDT	+0.0154%	4h	321.45	−0.084%	$93.8M	$523.3M	75x	as long as short
edgeX TAOUSDC	+0.0156%	4h	324.58	+0.890%	$43K	$315K	10x	as long as short
MEXC TAO_USDT	+0.0156%	4h	321.63	−0.028%	$105.2M	$148.9M	300x	as long as short
Paradex TAO-USD-PERP	+0.0272%	8h	322.46	+0.231%	$15K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0305%	1h	321.49	−0.073%	$15K	$1.9M	25x	as long as short
Aster TAOUSDT	+0.0313%	4h	321.50	−0.067%	$1.3M	$10.8M	50x	as long as short
Bybit TAOUSDT	+0.0366%	4h	321.43	−0.090%	$70.1M	$155.5M	50x	as long as short
BingX TAO-USDT	+0.0382%	4h	321.37	−0.109%	—	$34.3M	—	as long as short
BloFin TAO-USDT	+0.0394%	4h	321.90	+0.056%	$4.7M	$11.1M	100x	as long as short
Bullet TAO-USD	+0.0417%	1h	323.30	+0.491%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0460%	4h	323.74	+0.627%	$552K	$937K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	321.50	−0.070%	$918K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0506%	4h	323.50	+0.553%	$5.7M	$10.1M	—	as long as short
Phoenix TAO	+0.0513%	1h	324.40	+0.833%	$323K	$709K	5x	as long as short
Pacifica TAO	+0.0525%	1h	322.95	+0.381%	$367K	$422K	10x	as long as short
Nado TAO-PERPlong	+0.0598%	1h	321.72	long leg	$804K	$2.2M	10x
Backpack TAO_USDC_PERP	+0.0610%	1h	321.33	−0.121%	$319K	$899K	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	322.74	+0.317%	$104K	$384K	5x	as long as short
Hyperliquid TAOshort	+0.0673%	1h	321.54	−0.056%	$95.1M	$110.1M	5x
Reya TAORUSDPERP	+0.0698%	1h	321.51	−0.066%	$370	—	20x	as long as short
01 Exchange TAOUSD	+0.0704%	1h	322.59	+0.270%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.47	+0.233%	$1.5M	$6.9M	50x	as long as short
Lighter TAO	+0.1008%	1h	321.89	+0.053%	$1.5M	$6.6M	5x	as long as short
RISEx TAO/USDC	+0.1077%	1h	322.38	+0.206%	$464K	$652K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1148%	1h	321.66	−0.018%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+2.030%	$24K	$2K	12x	as long as short