TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0835%/8h= −91.4% APRpaid last 24h −0.248%

Price spread now: Katana Perps against Coinbase International−0.212%7-day average −0.161% · you buy dearer than you sell

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

Long on Coinbase International Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.410%−$41 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.212%, 7d avg −0.161%

Together, before fees−0.404%−$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Katana Perps is 0.051% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.161%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TAO-PERP-INTX	320.37	0.0944	pay 0.0118% / 1h	32m 08s	$1.5M	$6.9M	50x
Short	Katana Perps TAO-USD	319.69	0.0109	get 0.0109% / 8h	1h 32m	$759	$1.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.212%Rate

Funding earned: −$175.37
Price spread: −0.212% → −0.161%: −$5.11
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$194.28
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 2 min ago; Katana Perps: no order-book sample. 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, 2 min ago	9.67 bp	14.7 bp −$15	23.4 bp −$234	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1995%	1h	319.47	−0.281%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.58	−0.247%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	319.52	−0.267%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.95	−0.131%	$42K	$705K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.70	−0.209%	$26.7M	$129.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.50	−0.272%	$14.2M	$51.9M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.94	−0.134%	$17.9M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.64	−0.228%	$35.9M	$58.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.10	−0.396%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.66	−0.222%	$100K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	319.77	−0.187%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.11	−0.393%	$119K	$590K	20x	as long as short
Katana Perps TAO-USDshort	+0.0109%	8h	319.69	−0.212%	$759	$1.0M	5x
GMX TAO/USD [WBTC.b-USDC]	L +0.0119% / S +0.0149%	1h	319.55	−0.256%	$427K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.05	−0.101%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	319.82	−0.172%	$53K	$292K	10x	as long as short
edgeX TAOUSDC	+0.0159%	4h	319.21	−0.361%	$42K	$317K	10x	as long as short
MEXC TAO_USDT	+0.0160%	4h	319.97	−0.125%	$105.6M	$150.0M	300x	as long as short
Binance TAOUSDT	+0.0165%	4h	319.89	−0.150%	$92.6M	$529.1M	75x	as long as short
Paradex TAO-USD-PERP	+0.0262%	8h	319.53	−0.262%	$14K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0276%	4h	319.89	−0.150%	$3.3M	$8.1M	50x	as long as short
Aster TAOUSDT	+0.0328%	4h	320.01	−0.113%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0343%	4h	319.91	−0.144%	$69.9M	$156.1M	50x	as long as short
BingX TAO-USDT	+0.0370%	4h	319.82	−0.172%	—	$34.5M	—	as long as short
Bullet TAO-USD	+0.0388%	1h	320.02	−0.109%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0388%	4h	318.88	−0.465%	$543K	$940K	10x	as long as short
BloFin TAO-USDT	+0.0401%	4h	320.65	+0.087%	$4.7M	$11.1M	100x	as long as short
Extended TAO-USD	+0.0472%	1h	319.94	−0.136%	$916K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	319.76	−0.190%	$364K	$423K	10x	as long as short
Variational Omni TAO	+0.0538%	4h	318.75	−0.506%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	319.20	−0.365%	$318K	$709K	5x	as long as short
Nado TAO-PERP	+0.0587%	1h	319.87	−0.156%	$798K	$2.1M	10x	as long as short
Hyperliquid TAO	+0.0616%	1h	320.02	−0.109%	$94.6M	$110.3M	5x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	320.20	−0.053%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.25	−0.037%	$103K	$394K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0689%	1h	320.01	−0.112%	$298K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.75	−0.195%	$368	—	20x	as long as short
Lighter TAO	+0.0800%	1h	320.00	−0.115%	$1.5M	$6.7M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0805%	1h	320.00	−0.116%	$10K	$1.9M	25x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0944%	1h	320.37	long leg	$1.5M	$6.9M	50x
RISEx TAO/USDC	+0.1077%	1h	319.83	−0.169%	$458K	$666K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1154%	1h	320.00	−0.114%	$5.9M	$21.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.63	+1.018%	$24K	$2K	12x	as long as short