TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1328%/8h= −145.4% APRnext payment −$1.66 per $10,000 · paid last 24h +0.415%

Price spread now: Lighter against Bulk+2.185%7-day average +0.169% · 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+$173as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on Bulk Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.525%+$53 on $10k

Price spread, last 4 days (all we have)−2.020%−$202 · spread now +2.185%, 7d avg +0.169%

Together, before fees−1.495%+ Points / potential airdropLighter: Season 3 · farm board−$149 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 2.017% dearer against Bulk than usual: you sell high and buy low (spread +2.185% now, against its 7-day average of +0.169%): +$202 on $10k if it goes back. Holding the pair costs −$40 a day in funding at the current rate, which eats that in about 5.1 days. Mind the row above: over the last 3 days funding on this pair paid +0.525%, 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	Bulk TAO-USD	308.95	0.2752	pay 0.0344% / 1h	24m 55s	$164K	$40K	10x
Short	Lighter TAO	315.70	0.1424	get 0.0178% / 1h	24m 55s	$1.6M	$6.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bulk. 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 BulkbpFee LighterbpOrdersPrice spread, now +2.185%Rate

Funding earned: −$278.89
Price spread: +2.185% → +0.169%: $201.66
Slippage, 4 orders: −$21.65
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$105.88
Costs to cover: 0.286%
Break-even: from the start

Slippage from Bulk: live order book, 44 min ago; Lighter: live order book, 3 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 Bulk live order book, 44 min ago	0.16 bp	4.3 bp −$4	5.0 bp −$50	21.1 bp −$2,113	47.3 bp −$23.6K
Sell Lighter live order book, 3 min ago	3.69 bp	7.3 bp −$7	23.5 bp −$235	doesn't fit	doesn't fit

TAO on 42 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
dYdX TAO-USD	0.0000%	1h	314.17	+1.691%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.33	+2.067%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.67	+2.177%	$39K	$626K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.84	+1.908%	$90.2M	$465.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	+1.895%	$26.0M	$112.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.40	+1.766%	$12.8M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.74	+1.876%	$109.3M	$138.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.53	+1.808%	$18.0M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.59	+1.827%	$35.1M	$53.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.28	+1.728%	$35K	$298K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	313.06	+1.332%	$47K	$256K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.55	+2.138%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.45	+2.106%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.45	+1.782%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.84	+1.908%	$3.4M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.54	+2.133%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0120%	8h	315.49	+2.119%	$1K	$700K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0136%	4h	314.59	+1.826%	$518K	$966K	10x	as long as short
Polymarket Perps TAO-USD	+0.0143%	1h	315.87	+2.241%	$82K	$679K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0168%	1h	314.95	+1.944%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0091%	1h	315.46	+2.109%	$441K	—	100x	as long as short
Bullet TAO-USD	+0.0229%	1h	315.85	+2.234%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0238%	4h	314.80	+1.894%	$1.3M	$9.4M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0284%	1h	315.10	+1.994%	$24K	$1.5M	25x	as long as short
Pacifica TAO	+0.0285%	1h	314.77	+1.886%	$370K	$381K	10x	as long as short
Paradex TAO-USD-PERP	+0.0336%	8h	314.80	+1.896%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.23	+2.034%	$99K	$529K	5x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	312.28	+1.079%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0512%	1h	315.68	+2.180%	$781K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	312.30	+1.086%	$326K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	315.43	+2.099%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.98	+2.276%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0760%	4h	314.80	+1.895%	—	$31.0M	—	as long as short
Variational Omni TAO	+0.0822%	4h	315.55	+2.139%	$5.5M	$8.9M	—	as long as short
Bybit TAOUSDT	+0.0826%	4h	315.06	+1.979%	$66.1M	$137.8M	50x	as long as short
Extended TAO-USD	+0.0896%	1h	314.74	+1.877%	$903K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0911%	1h	314.61	+1.834%	$318K	$814K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.20	+2.348%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	315.08	+1.985%	$450K	$631K	5x	as long as short
Hyperliquid TAO	+0.1245%	1h	315.00	+1.960%	$99.6M	$94.9M	5x	as long as short
Lighter TAOshort	+0.1424%	1h	315.70	+2.185%	$1.6M	$6.1M	5x
Bulk TAO-USDlong	+0.2752%	1h	308.95	long leg	$164K	$40K	10x