TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0024%/8h= −2.6% APRnext payment −$0.12 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against Bybit−0.974%80s7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.398% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+1.252%+$125 · spread now −0.974%, 7d avg −0.007%

Together, before fees+1.240%+ Points / potential airdropGRVT: Active · farm board+$124 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GRVT is 0.966% cheaper against Bybit than usual: you would sell low and buy high (−$97 if the spread goes back to its 7-day average of −0.007%). Swap the legs. The two prices were read 80 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	Bybit TAOUSDT	319.02	0.0398	pay 0.0199% / 4h	2h 18m	$69.6M	$153.4M	50x
Short	GRVT TAO_USDT_Perp	315.91	0.0374	get 0.0187% / 4h	2h 18m	$537K	$923K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bybit. 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 BybitbpFee GRVTbpOrdersPrice spread, now −0.974%Rate

Funding earned: −$4.99
Price spread: −0.974% → −0.007%: −$96.65
Slippage, 4 orders: −$19.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$141.48
Costs to cover: 0.398%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; GRVT: live order book, 30 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 Bybit live order book, 1 min ago	0.16 bp	10.8 bp −$11	19.3 bp −$193	52.5 bp −$5,251	doesn't fit
Sell GRVT live order book, 30 min ago	1.43 bp	9.3 bp −$9	21.2 bp −$212	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	−0.0038%	1h	313.74	−1.655%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.80	−0.068%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0037%	1h	318.82	−0.063%	$127K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.96	−0.019%	$91.5M	$512.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.80	−0.069%	$26.7M	$125.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.80	−0.069%	$14.2M	$51.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	318.97	−0.016%	$100.9M	$147.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.97	−0.016%	$17.5M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.93	−0.028%	$36.0M	$57.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.55	−0.146%	$42K	$316K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	318.99	−0.009%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.75	−0.085%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.64	−0.119%	$116K	$564K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.83	−0.060%	$3.2M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.35	+0.105%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	318.67	−0.110%	$2K	$940K	5x	as long as short
Popdex TAOUSDT	+0.0112%	1h	318.68	−0.107%	$53K	$670K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	319.05	+0.009%	$53K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0127% / S +0.0141%	1h	318.76	−0.080%	$426K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	319.05	+0.009%	$364K	$420K	10x	as long as short
Aster TAOUSDT	+0.0264%	4h	319.29	+0.085%	$1.3M	$10.7M	50x	as long as short
Nado TAO-PERP	+0.0267%	1h	319.07	+0.016%	$802K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0277%	8h	319.07	+0.016%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0298%	1h	319.33	+0.099%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0332%	1h	319.09	+0.022%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.93	−0.028%	$4.6M	$11.0M	100x	as long as short
GRVT TAO_USDT_Perpshort	+0.0374%	4h	315.91	−0.974%	$537K	$923K	10x
Bybit TAOUSDTlong	+0.0398%	4h	319.02	long leg	$69.6M	$153.4M	50x
BingX TAO-USDT	+0.0402%	4h	319.11	+0.028%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0459%	4h	318.52	−0.157%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	319.11	+0.028%	$103K	$345K	5x	as long as short
Extended TAO-USD	+0.0504%	1h	319.04	+0.005%	$906K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	316.70	−0.727%	$315K	$713K	5x	as long as short
ApeX Omni TAOUSDT	+0.0574%	1h	315.18	−1.204%	$45K	$256K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0596%	1h	319.11	+0.028%	$15K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	319.15	+0.041%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	319.19	+0.053%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	319.35	+0.102%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0818%	1h	319.38	+0.113%	$93.8M	$109.2M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0845%	1h	318.71	−0.097%	$316K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	319.49	+0.147%	$1.5M	$7.0M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	318.56	−0.143%	$460K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+0.144%	$23K	$2K	12x	as long as short