Funding you earn now, next payment 04:00 UTC−0.0829%/8h= −90.8% APRpaid last 24h −0.242%
Price spread now: Orderly against Coinbase International+0.127%54s7-day average −0.175% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.679%−$68 on $10k
+Price spread, last 4 days (all we have)−0.219%−$22 · spread now +0.127%, 7d avg −0.175%
=The price spread pays, funding is against you. Orderly is 0.302% dearer against Coinbase International than usual: you sell high and buy low (spread +0.127% now, against its 7-day average of −0.175%): +$30 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.679% in total) that is about 3.1 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International TAO-PERP-INTX | 314.04 | 0.0952 | pay 0.0119% / 1h | 55m 21s | $1.5M | $6.6M | 50x |
| Short | Orderly PERP_TAO_USDC | 314.44 | 0.0123 | get 0.0061% / 4h | 3h 55m | $52K | $271K | 10x |
Coinbase International TAO-PERP-INTX
Orderly PERP_TAO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$174.15
- Price spread: +0.127% → −0.175%
- $30.24
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$159.92
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Coinbase International: live order book, 4 min ago; Orderly: 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, 4 min ago | 7.61 bp | 14.2 bp −$14 | 18.9 bp −$189 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_TAOUSD | −0.0346% | 1h | 313.43 | −0.193% | $5.5M | $20.6M | 50x | as long as short |
| Gate TAO_USDT | −0.0126% | 4h | 314.30 | +0.083% | $13.1M | $49.2M | 50x | as long as short |
| Popdex TAOUSDT | −0.0032% | 1h | 314.70 | +0.210% | $43K | $653K | 20x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 314.25 | +0.066% | $125K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 314.40 | +0.115% | $20K | — | 150x | as long as short |
| Katana Perps TAO-USD | +0.0098% | 8h | 314.50 | +0.146% | $2K | $805K | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 314.12 | +0.025% | $358K | $412K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 314.63 | +0.188% | $90.9M | $495.8M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 314.59 | +0.175% | $67.7M | $149.2M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.50 | +0.146% | $26.0M | $120.7M | 50x | as long as short |
Kraken Futures PF_TAOUSD
Gate TAO_USDT
Popdex TAOUSDT
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Katana Perps TAO-USD
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAPShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | +0.0100% | 1h | 314.80 | +0.242% | $167K | $2K | 10x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 314.70 | +0.210% | $101.0M | $143.6M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.71 | +0.213% | $17.8M | $31.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 314.19 | +0.048% | $35.1M | $56.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 314.53 | +0.156% | — | $33.0M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 314.50 | +0.148% | $42K | $312K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 313.64 | −0.129% | $532K | $955K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.57 | +0.169% | $46K | $255K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 314.63 | +0.188% | $78K | $863K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 314.79 | +0.239% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.05 | −0.315% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.90 | −0.363% | $109K | $535K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.24 | +0.062% | $173K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDCshort | +0.0123% | 4h | 314.44 | +0.127% | $52K | $271K | 10x | |
| Aster TAOUSDT | +0.0131% | 4h | 314.40 | +0.116% | $1.2M | $10.4M | 50x | as long as short |
| Hyperliquid TAO | +0.0140% | 1h | 315.03 | +0.315% | $92.5M | $106.9M | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0143% / S +0.0124% | 1h | 314.55 | +0.162% | $428K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0145% | 8h | 313.92 | −0.038% | $14K | $1K | 10x | as long as short |
| Extended TAO-USD | +0.0192% | 1h | 314.48 | +0.139% | $918K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0216% | 1h | 314.72 | +0.216% | $799K | $2.2M | 10x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 314.76 | +0.229% | $101K | $441K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0263% | 1h | 313.67 | −0.119% | $22K | $1.7M | 25x | as long as short |
| Backpack TAO_USDC_PERP | +0.0294% | 1h | 313.48 | −0.178% | $311K | $914K | 10x | as long as short |
| 01 Exchange TAOUSD | +0.0328% | 1h | 314.79 | +0.239% | $3K | $4K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 313.29 | −0.239% | $4.5M | $10.8M | 100x | as long as short |
| Variational Omni TAO | +0.0362% | 4h | 313.70 | −0.108% | $5.6M | $9.9M | — | as long as short |
| Lighter TAO | +0.0424% | 1h | 314.63 | +0.186% | $1.5M | $6.4M | 5x | as long as short |
| Phoenix TAO | +0.0581% | 1h | 313.60 | −0.140% | $312K | $711K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 314.71 | +0.214% | $362 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 314.68 | +0.202% | $435K | $653K | 5x | as long as short |
| Coinbase International TAO-PERP-INTXlong | +0.0952% | 1h | 314.04 | long leg | $1.5M | $6.6M | 50x | |
| Phemex TAOUSDT | +0.1467% | 4h | 313.46 | −0.185% | $3.2M | $8.1M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 317.67 | +1.156% | $23K | $2K | 12x | as long as short |
Bulk TAO-USD
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Aster TAOUSDT
Hyperliquid TAO
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Extended TAO-USD
Nado TAO-PERP
Arcus TAO-USD
Deribit TAO_USDC-PERPETUAL
Backpack TAO_USDC_PERP
01 Exchange TAOUSD
BloFin TAO-USDT
Variational Omni TAO
Lighter TAO
Phoenix TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Phemex TAOUSDT
Injective TAO/USDC PERP