TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.22 per $10,000 · paid last 24h +0.112%

Price spread now: Lighter against Arcus+0.046%7-day average −0.003% · 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−$28as in the Price arb table

costs, in and out, $10k−$330.325% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.188%+$19 on $10k

Price spread, last 4 days (all we have)−0.432%−$43 · spread now +0.046%, 7d avg −0.003%

Together, before fees−0.244%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.049% dearer against Arcus than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	321.38	0.0404	pay 0.0051% / 1h	8m 03s	$101K	$340K	5x
Short	Lighter TAO	321.53	0.0584	get 0.0073% / 1h	8m 03s	$1.6M	$6.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.046%Rate

Funding earned: $37.79
Price spread: +0.046% → −0.003%: $4.91
Slippage, 4 orders: −$28.05
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: $10.15
Costs to cover: 0.325%
Break-even: 5.1 days

Slippage from Arcus: live order book, 26 min ago; Lighter: live order book, 10 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, 26 min ago	6.99 bp	13.1 bp −$13	24.3 bp −$243	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	1.13 bp	1.9 bp −$2	15.4 bp −$154	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	−0.0241%	1h	318.85	−0.789%	$169K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	321.22	−0.051%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	321.18	−0.062%	$50K	$697K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	321.75	+0.115%	$70.9M	$154.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	321.50	+0.037%	$26.7M	$130.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.20	−0.056%	$15.3M	$50.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.25	−0.040%	$17.5M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.02	−0.112%	$36.2M	$56.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.99	−0.121%	$89K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	321.12	−0.081%	$2K	$1.9M	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	321.05	−0.103%	$117K	$547K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	321.23	−0.047%	$3.2M	$8.2M	50x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	320.89	−0.152%	$3K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	321.56	+0.054%	$177K	$998	3x	as long as short
MEXC TAO_USDT	+0.0160%	4h	321.22	−0.050%	$104.0M	$155.5M	300x	as long as short
edgeX TAOUSDC	+0.0164%	4h	319.68	−0.530%	$42K	$321K	10x	as long as short
BingX TAO-USDT	+0.0166%	4h	321.33	−0.016%	—	$38.8M	—	as long as short
Binance TAOUSDT	+0.0166%	4h	321.63	+0.076%	$93.7M	$517.3M	75x	as long as short
Paradex TAO-USD-PERP	+0.0230%	8h	321.71	+0.101%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0243%	4h	321.47	+0.028%	$55K	$272K	10x	as long as short
Bullet TAO-USD	+0.0281%	1h	321.38	+0.001%	$13K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0292%	1h	319.06	−0.722%	$45K	$256K	50x	as long as short
GRVT TAO_USDT_Perp	+0.0312%	4h	319.87	−0.469%	$542K	$838K	10x	as long as short
Aster TAOUSDT	+0.0333%	4h	321.58	+0.062%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	321.65	+0.083%	$374K	$439K	10x	as long as short
Extended TAO-USD	+0.0360%	1h	321.28	−0.032%	$972K	$2.3M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0368% / S −0.0109%	1h	321.14	−0.073%	$380K	—	100x	as long as short
BloFin TAO-USDT	+0.0402%	4h	321.67	+0.090%	$4.8M	$11.0M	100x	as long as short
Arcus TAO-USDlong	+0.0404%	1h	321.38	long leg	$101K	$340K	5x
Nado TAO-PERP	+0.0423%	1h	321.24	−0.044%	$757K	$2.0M	10x	as long as short
dYdX TAO-USD	+0.0455%	1h	321.40	+0.005%	$129K	$87K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0482%	1h	321.46	+0.025%	$20K	$1.9M	25x	as long as short
Phoenix TAO	+0.0578%	1h	321.30	−0.025%	$323K	$714K	5x	as long as short
Lighter TAOshort	+0.0584%	1h	321.53	+0.046%	$1.6M	$6.8M	5x
Variational Omni TAO	+0.0591%	4h	319.75	−0.506%	$5.6M	$9.8M	—	as long as short
Hyperliquid TAO	+0.0648%	1h	321.67	+0.090%	$95.6M	$108.6M	5x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	321.39	+0.003%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	321.09	−0.089%	$369	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0727%	1h	321.42	+0.012%	$319K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0774%	1h	321.49	+0.035%	$6.2M	$21.0M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	320.90	−0.149%	$439K	$711K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	321.95	+0.177%	$1.1M	$7.5M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	+0.386%	$23K	$2K	12x	as long as short