TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0786%/8h= −86.1% APRnext payment −$0.98 per $10,000 · paid last 24h −0.211%

Price spread now: Deribit against Coinbase International−0.297%7-day average −0.158% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.702%−$70 on $10k

Price spread, last 3 days (all we have)+0.231%+$23 · spread now −0.297%, 7d avg −0.158%

Together, before fees−0.471%−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Deribit is 0.139% cheaper against Coinbase International than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.158%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TAO-PERP-INTX	306.79	0.0960	pay 0.0120% / 1h	25m 41s	$1.5M	$5.4M	50x
Short	Deribit TAO_USDC-PERPETUAL	305.88	0.0174	get 0.0022% / 1h	25m 41s	$15K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpOrdersPrice spread, now −0.297%Rate

Funding earned: −$165.06
Price spread: −0.297% → −0.158%: −$13.91
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$195.97
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 3 min ago; Deribit: live order book, 3 min ago. Net counts fees only.

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	7.99 bp	16.3 bp −$16	17.3 bp −$173	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	3.76 bp	doesn't fit	doesn't fit	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	307.19	+0.130%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	305.60	−0.388%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.13	−0.541%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	305.58	−0.395%	$361K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.40	+0.199%	$85.9M	$403.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.56	+0.251%	$59.4M	$118.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.60	+0.264%	$25.3M	$93.2M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	305.69	−0.359%	$137K	$596K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	+0.091%	$201K	$57K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	306.80	+0.003%	$12.2M	$48.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	306.62	−0.055%	$114.0M	$123.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	306.65	−0.046%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.28	+0.160%	$34.4M	$44.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.09	+0.098%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.242%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.34	+0.179%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.77	+0.319%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.19	+0.130%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.63	−0.378%	$86K	$667K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.77	−0.332%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.81	−0.319%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	305.75	−0.339%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	305.72	−0.349%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.94	−0.277%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.77	−0.333%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	305.35	−0.469%	$873	$434K	5x	as long as short
Aster TAOUSDT	+0.0149%	4h	306.63	−0.052%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0162%	8h	305.66	−0.368%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0174%	1h	305.88	−0.297%	$15K	$1.3M	25x
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	305.60	−0.387%	$436K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	305.60	−0.388%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0307%	1h	305.26	−0.499%	$833K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.11	−0.548%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0512%	1h	305.41	−0.450%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	305.51	−0.417%	$351	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	306.70	−0.030%	$902K	$2.0M	25x	as long as short
Lighter TAO	+0.0912%	1h	307.77	+0.321%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0960%	1h	306.79	long leg	$1.5M	$5.4M	50x
Kraken Futures PF_TAOUSD	+0.1029%	1h	306.29	−0.164%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	305.35	−0.470%	$408K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1171%	1h	306.68	−0.036%	$443K	$715K	10x	as long as short
Hyperliquid TAO	+0.1726%	1h	307.99	+0.391%	$94.1M	$76.2M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−0.271%	$22K	$171	12x	as long as short