TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0620%/8h= −67.9% APRpaid last 24h −0.128%

Price spread now: BloFin against Coinbase International−0.482%118s7-day average −0.162% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as 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−$470.470% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 3 days (all we have)+0.402%+$40 · spread now −0.482%, 7d avg −0.162%

Together, before fees+0.301%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and BloFin is 0.320% cheaper against Coinbase International than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of −0.162%). Swap the legs. The two prices were read 118 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 -0.102% in total (about -5.3% 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	309.18	0.0960	pay 0.0120% / 1h	21m 17s	$1.5M	$5.4M	50x
Short	BloFin TAO-USDT	307.69	0.0340	get 0.0170% / 4h	2h 21m	$4.3M	$9.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.482%Rate

Funding earned: −$130.2
Price spread: −0.482% → −0.162%: −$31.99
Slippage, 4 orders: −$25.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$209.24
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; BloFin: live order book, 2 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, 3 min ago	7.93 bp	13.2 bp −$13	17.6 bp −$176	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	2.27 bp	9.2 bp −$9	16.5 bp −$165	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	308.50	−0.220%	$130K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	307.94	−0.402%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0034%	1h	308.35	−0.268%	$16K	$1.3M	25x	as long as short
Bulk TAO-USD	+0.0052%	1h	305.44	−1.210%	$200K	$57K	10x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.37	−0.262%	$41K	$530K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.72	−0.149%	$365K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.13	−0.338%	$86.1M	$404.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.41	−0.249%	$59.5M	$118.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.40	−0.252%	$25.3M	$93.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.85	−0.107%	$137K	$599K	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	308.00	−0.382%	$12.2M	$48.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.69	−0.482%	$115.3M	$124.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.23	−0.307%	$18.6M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.20	−0.317%	$34.5M	$44.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.10	−0.349%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.90	−1.061%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.92	−0.408%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.12	−0.666%	$538K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.95	−0.398%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.45	−0.236%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.16	−0.330%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.28	−0.291%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.23	−0.307%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.77	−0.456%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	308.19	−0.320%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.48	−0.225%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	308.50	−0.220%	$882	$438K	5x	as long as short
Aster TAOUSDT	+0.0162%	4h	308.37	−0.261%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0164%	8h	308.71	−0.153%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.98	−0.389%	$440K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	307.90	−0.414%	$326K	$462K	5x	as long as short
Nado TAO-PERP	+0.0290%	1h	308.33	−0.274%	$846K	$1.9M	10x	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	307.69	−0.482%	$4.3M	$9.4M	100x
01 Exchange TAOUSD	+0.0520%	1h	308.78	−0.129%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.72	−0.472%	$354	—	20x	as long as short
Extended TAO-USD	+0.0712%	1h	308.28	−0.290%	$906K	$2.0M	25x	as long as short
Lighter TAO	+0.0928%	1h	309.00	−0.058%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0960%	1h	309.18	long leg	$1.5M	$5.4M	50x
Kraken Futures PF_TAOUSD	+0.1022%	1h	308.52	−0.214%	$6.3M	$19.2M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	308.67	−0.167%	$413K	$539K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1094%	1h	308.20	−0.317%	$445K	$715K	10x	as long as short
Hyperliquid TAO	+0.1741%	1h	308.37	−0.262%	$94.4M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−1.041%	$22K	$171	12x	as long as short