Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0331%/8h= +36.3% APRpaid last 24h +0.051%

Price spread now: Nado against Paradex+0.169%50s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Nado: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Nado is 0.169% dearer against Paradex than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	Paradex TAO-USD-PERP	315.26	0.0228	pay 0.0228% / 8h	5h 02m	$14K	$1K	10x
Short	Nado TAO-PERP	315.79	0.0559	get 0.0070% / 1h	2m 39s	$844K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Paradex. 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 ParadexbpFee NadobpOrdersPrice spread, now +0.169%Rate

Funding earned: $69.6
Price spread: +0.169% → 0.000%: $16.9
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $75.51
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Nado: live order book, 1 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Nado live order book, 1 min ago	0.79 bp	6.3 bp −$6	16.7 bp −$167	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0766%	1h	316.69	+0.452%	$168K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.34	+0.026%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.99	+0.231%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.95	+0.219%	$41K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.23	−0.009%	$91.4M	$487.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.10	−0.051%	$25.9M	$118.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.70	+0.140%	$12.9M	$50.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.17	−0.028%	$104.4M	$144.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.93	+0.213%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.95	+0.219%	$35.2M	$55.8M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.23	+0.308%	$35K	$303K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.05	+0.251%	$88K	$794K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.84	+0.184%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.25	−0.003%	$109K	$528K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.86	+0.192%	$173K	$998	3x	as long as short
Phemex TAOUSDT	+0.0105%	4h	315.92	+0.209%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	315.61	+0.111%	$1K	$778K	5x	as long as short
Bullet TAO-USD	+0.0122%	1h	316.16	+0.285%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	316.04	+0.248%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0156% / S +0.0113%	1h	315.96	+0.223%	$428K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0160%	4h	316.72	+0.462%	$527K	$965K	10x	as long as short
Paradex TAO-USD-PERPlong	+0.0228%	8h	315.26	long leg	$14K	$1K	10x
Kraken Futures PF_TAOUSD	+0.0248%	1h	316.01	+0.237%	$5.6M	$20.7M	50x	as long as short
Aster TAOUSDT	+0.0256%	4h	315.87	+0.194%	$1.2M	$10.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0299%	1h	316.57	+0.416%	$46K	$252K	50x	as long as short
Bybit TAOUSDT	+0.0336%	4h	315.27	+0.003%	$69.2M	$145.9M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.10	+0.267%	$4.5M	$10.9M	100x	as long as short
BingX TAO-USDT	+0.0374%	4h	316.07	+0.257%	—	$30.3M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0444%	1h	316.19	+0.294%	$15K	$1.7M	25x	as long as short
Pacifica TAO	+0.0448%	1h	315.37	+0.035%	$371K	$413K	10x	as long as short
Phoenix TAO	+0.0504%	1h	316.50	+0.393%	$331K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.16	+0.286%	$100K	$488K	5x	as long as short
Extended TAO-USD	+0.0544%	1h	315.93	+0.214%	$927K	$2.4M	25x	as long as short
Nado TAO-PERPshort	+0.0559%	1h	315.79	+0.169%	$844K	$2.2M	10x
01 Exchange TAOUSD	+0.0632%	1h	315.82	+0.178%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.09	+0.264%	$364	—	20x	as long as short
Lighter TAO	+0.0704%	1h	315.45	+0.060%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0758%	4h	315.94	+0.217%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0804%	1h	316.21	+0.301%	$314K	$925K	10x	as long as short
Hyperliquid TAO	+0.0907%	1h	316.16	+0.286%	$95.2M	$104.4M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.577%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	315.89	+0.202%	$435K	$659K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+2.018%	$23K	$2K	12x	as long as short