TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0304%/8h= −33.3% APRnext payment −$0.38 per $10,000 · paid last 24h −0.360%

Price spread now: Bulk against Arcus−1.058%7-day average −0.174% · 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−$121as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Arcus Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.421%−$42 on $10k

Price spread, last 4 days (all we have)+0.755%+$76 · spread now −1.058%, 7d avg −0.174%

Together, before fees+0.334%+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bulk is 0.884% cheaper against Arcus than usual: you would sell low and buy high (−$88 if the spread goes back to its 7-day average of −0.174%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	318.51	0.0404	pay 0.0051% / 1h	22m 43s	$100K	$360K	5x
Short	Bulk TAO-USD	315.14	0.0100	get 0.0013% / 1h	22m 43s	$167K	$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Arcus. 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 ArcusbpFee BulkbpOrdersPrice spread, now −1.058%Rate

Funding earned: −$63.85
Price spread: −1.058% → −0.174%: −$88.4
Slippage, 4 orders: −$21.56
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$185.31
Costs to cover: 0.331%
Break-even: never at this rate

Slippage from Arcus: live order book, 11 min ago; Bulk: live order book, 11 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 Arcus live order book, 11 min ago	6.99 bp	13.1 bp −$13	24.3 bp −$243	doesn't fit	doesn't fit
Sell Bulk live order book, 11 min ago	0.48 bp	6.1 bp −$6	8.0 bp −$80	16.0 bp −$1,605	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 −0.0003%	1h	318.92	+0.129%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.32	+0.254%	$51K	$698K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	317.80	−0.223%	$69.4M	$155.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.70	−0.254%	$26.5M	$130.4M	50x	as long as short
Bulk TAO-USDshort	+0.0100%	1h	315.14	−1.058%	$167K	$0	10x
Gate TAO_USDT	+0.0100%	4h	317.40	−0.348%	$15.1M	$49.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.05	−0.144%	$17.6M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.01	−0.157%	$35.9M	$57.1M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.76	−1.491%	$45K	$256K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.90	+0.122%	$88K	$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	318.60	+0.028%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.87	+0.113%	$115K	$575K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.48	−0.009%	$3.2M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0105%	8h	317.98	−0.166%	$651	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	318.40	−0.035%	$175K	$998	3x	as long as short
edgeX TAOUSDC	+0.0136%	4h	313.92	−1.441%	$41K	$321K	10x	as long as short
BingX TAO-USDT	+0.0137%	4h	318.13	−0.119%	—	$38.8M	—	as long as short
MEXC TAO_USDT	+0.0140%	4h	317.78	−0.229%	$107.3M	$153.0M	300x	as long as short
Binance TAOUSDT	+0.0153%	4h	317.78	−0.229%	$92.8M	$523.5M	75x	as long as short
GRVT TAO_USDT_Perp	+0.0208%	4h	313.72	−1.503%	$531K	$838K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0227%	4h	318.95	+0.138%	$54K	$298K	10x	as long as short
Paradex TAO-USD-PERP	+0.0237%	8h	317.76	−0.235%	$14K	$876	10x	as long as short
dYdX TAO-USD	+0.0244%	1h	317.74	−0.243%	$128K	$86K	5x	as long as short
Bullet TAO-USD	+0.0276%	1h	319.33	+0.258%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0317%	4h	318.15	−0.112%	$1.2M	$11.2M	50x	as long as short
Pacifica TAO	+0.0349%	1h	317.89	−0.195%	$366K	$445K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0363% / S −0.0107%	1h	318.23	−0.087%	$374K	—	100x	as long as short
Extended TAO-USD	+0.0376%	1h	317.62	−0.279%	$901K	$2.2M	25x	as long as short
BloFin TAO-USDT	+0.0381%	4h	319.21	+0.220%	$4.8M	$10.9M	100x	as long as short
Arcus TAO-USDlong	+0.0404%	1h	318.51	long leg	$100K	$360K	5x
Nado TAO-PERP	+0.0451%	1h	319.19	+0.212%	$771K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0520%	1h	318.25	−0.082%	$93.3M	$108.1M	5x	as long as short
Phoenix TAO	+0.0578%	1h	315.70	−0.882%	$318K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	319.95	+0.452%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0597%	4h	313.84	−1.465%	$5.5M	$10.1M	—	as long as short
Lighter TAO	+0.0696%	1h	318.17	−0.106%	$1.6M	$6.7M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.25	+0.234%	$367	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0723%	1h	318.29	−0.069%	$314K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0780%	1h	318.94	+0.134%	$6.1M	$21.3M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	318.31	−0.061%	$453K	$706K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0893%	1h	318.93	+0.131%	$9K	$1.9M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	319.58	+0.336%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	317.77	−0.232%	$23K	$2K	12x	as long as short