TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0908%/8h= −99.4% APRpaid last 24h −0.242%

Price spread now: Binance against Coinbase International−0.242%53s7-day average −0.183% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as 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−$460.461% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.617%−$62 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.242%, 7d avg −0.183%

Together, before fees−0.525%−$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Binance is 0.059% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.183%). Swap the legs. The two prices were read 53 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 -0.617% in total (about -32.2% a year). A funding rate is set anew for every payment. 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	315.00	0.1008	pay 0.0126% / 1h	49m 22s	$1.5M	$6.6M	50x
Short	Binance TAOUSDT	314.24	0.0100	get 0.0050% / 4h	49m 22s	$90.6M	$488.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.242%Rate

Funding earned: −$190.68
Price spread: −0.242% → −0.183%: −$5.92
Slippage, 4 orders: −$26.13
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$242.72
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Binance: live order book, 9 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	9.78 bp	14.8 bp −$15	21.3 bp −$213	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.16 bp	8.7 bp −$9	14.5 bp −$145	28.4 bp −$2,844	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	−0.0499%	1h	315.15	+0.048%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.07	−0.294%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.92	−0.344%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.33	−0.213%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.48	−0.165%	$41K	$685K	20x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	314.24	−0.242%	$90.6M	$488.7M	75x
OKX TAO-USDT-SWAP	+0.0100%	8h	314.10	−0.286%	$25.8M	$118.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.90	−0.349%	$12.9M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.31	−0.219%	$104.4M	$142.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.17	−0.263%	$17.4M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	314.08	−0.292%	$35.1M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.19	+0.377%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.46	−0.171%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.00	−0.317%	$89K	$789K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.29	−0.225%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.27	−0.232%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.16	−0.267%	$109K	$526K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.24	−0.241%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.26	−0.234%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0108%	8h	314.02	−0.311%	$668	$783K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0122%	4h	316.28	+0.405%	$527K	$952K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.19	−0.257%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0153% / S +0.0116%	1h	314.00	−0.316%	$426K	—	100x	as long as short
Bybit TAOUSDT	+0.0183%	4h	314.32	−0.216%	$68.6M	$146.1M	50x	as long as short
01 Exchange TAOUSD	+0.0184%	1h	314.19	−0.257%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0199%	8h	314.37	−0.199%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0218%	4h	314.07	−0.295%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0224%	1h	314.39	−0.194%	$93.9M	$104.8M	5x	as long as short
BingX TAO-USDT	+0.0244%	4h	314.18	−0.260%	—	$30.2M	—	as long as short
Nado TAO-PERP	+0.0253%	1h	314.21	−0.249%	$818K	$2.2M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0279%	1h	314.31	−0.219%	$315K	$915K	10x	as long as short
Lighter TAO	+0.0328%	1h	314.53	−0.150%	$1.5M	$6.4M	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.43	−0.181%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	314.37	−0.200%	$99K	$488K	5x	as long as short
Extended TAO-USD	+0.0352%	1h	314.14	−0.274%	$922K	$2.4M	25x	as long as short
Pacifica TAO	+0.0365%	1h	314.30	−0.222%	$360K	$409K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0456%	1h	314.35	−0.205%	$13K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.159%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0651%	4h	314.33	−0.213%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.14	−0.273%	$361	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.28	−0.227%	$432K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.1008%	1h	315.00	long leg	$1.5M	$6.6M	50x
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.463%	$23K	$2K	12x	as long as short