TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1012%/8h= +110.8% APRnext payment +$1.26 per $10,000 · paid last 24h −0.244%

Price spread now: ApeX Omni against Coinbase International−0.118%75s7-day average −0.171% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as 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−$530.527% of the position

Long on Coinbase International Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.560%−$56 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now −0.118%, 7d avg −0.171%

Together, before fees−0.624%−$62 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$30 a day on $10k at the current rate, and ApeX Omni is 0.053% dearer against Coinbase International than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.171%. Mind the row above: over the last 7 days funding on this pair cost −0.560%, so the current rate has only just turned in your favour. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.560% in total (about -29.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TAO-PERP-INTX	312.88	0.0928	pay 0.0116% / 1h	53m 43s	$1.5M	$6.7M	50x
Short	ApeX Omni TAOUSDT	312.51	0.1940	get 0.0242% / 1h	53m 43s	$46K	$254K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Coinbase International. 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 Coinbase InternationalbpFee ApeX OmnibpOrdersPrice spread, now −0.118%Rate

Funding earned: $212.5
Price spread: −0.118% → −0.171%: $5.27
Slippage, 4 orders: −$32.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $165.05
Costs to cover: 0.527%
Break-even: 1.6 days

Slippage from Coinbase International: live order book, 5 min ago; ApeX Omni: live order book, 58 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 Coinbase International live order book, 5 min ago	5.92 bp	10.9 bp −$11	20.1 bp −$201	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 58 min ago	5.43 bp	13.3 bp −$13	140.9 bp −$1,409	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
dYdX TAO-USD	0.0000%	1h	311.75	−0.362%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.55	−0.425%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	311.83	−0.336%	$638	$877K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.05	−0.265%	$89.2M	$504.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.80	−0.345%	$26.1M	$121.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.60	−0.409%	$13.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.05	−0.265%	$103.9M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.94	−0.300%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.66	−0.390%	$35.1M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.84	−0.013%	$41K	$313K	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	311.39	−0.476%	$81K	$907K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.41	−0.470%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.22	−0.531%	$111K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.85	−0.329%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	311.89	−0.316%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0133% / S +0.0136%	1h	311.44	−0.459%	$417K	—	100x	as long as short
Aster TAOUSDT	+0.0134%	4h	311.98	−0.287%	$1.3M	$10.5M	50x	as long as short
Popdex TAOUSDT	+0.0192%	1h	311.52	−0.435%	$48K	$662K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0204%	4h	313.11	+0.072%	$532K	$942K	10x	as long as short
Paradex TAO-USD-PERP	+0.0206%	8h	311.95	−0.296%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0233%	1h	312.12	−0.241%	$355K	$419K	10x	as long as short
Bulk TAO-USD	+0.0253%	1h	311.89	−0.317%	$166K	$333	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0306%	1h	311.74	−0.363%	$5.5M	$20.7M	50x	as long as short
Bullet TAO-USD	+0.0314%	1h	311.86	−0.326%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.87	−0.323%	$4.5M	$10.8M	100x	as long as short
Bybit TAOUSDT	+0.0345%	4h	312.00	−0.281%	$67.5M	$151.2M	50x	as long as short
BingX TAO-USDT	+0.0348%	4h	311.90	−0.313%	—	$33.7M	—	as long as short
Extended TAO-USD	+0.0368%	1h	311.79	−0.349%	$903K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0371%	4h	312.91	+0.010%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0384%	1h	311.45	−0.458%	$774K	$2.2M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0418%	1h	311.84	−0.331%	$11K	$1.8M	25x	as long as short
Phoenix TAO	+0.0457%	1h	312.80	−0.026%	$311K	$713K	5x	as long as short
Arcus TAO-USD	+0.0483%	1h	312.05	−0.265%	$100K	$370K	5x	as long as short
Phemex TAOUSDT	+0.0561%	4h	311.96	−0.294%	$3.1M	$7.9M	50x	as long as short
Hyperliquid TAO	+0.0663%	1h	312.26	−0.198%	$91.4M	$108.2M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.61	−0.406%	$358	—	20x	as long as short
01 Exchange TAOUSD	+0.0744%	1h	312.23	−0.208%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0752%	1h	312.27	−0.193%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0826%	1h	311.90	−0.313%	$310K	$885K	10x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0928%	1h	312.88	long leg	$1.5M	$6.7M	50x
RISEx TAO/USDC	+0.0948%	1h	311.97	−0.290%	$446K	$649K	5x	as long as short
ApeX Omni TAOUSDTshort	+0.1940%	1h	312.51	−0.118%	$46K	$254K	50x
Injective TAO/USDC PERP	+0.3711%	1h	315.73	+0.911%	$23K	$2K	12x	as long as short