TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0752%/8h= −82.3% APRnext payment −$0.94 per $10,000 · paid last 24h −0.247%

Price spread now: Popdex against Coinbase International−0.441%7-day average −0.188% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Coinbase International Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.514%−$51 on $10k

Price spread, last 4 days (all we have)+0.204%+$20 · spread now −0.441%, 7d avg −0.188%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Popdex is 0.253% cheaper against Coinbase International than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.188%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TAO-PERP-INTX	312.88	0.0928	pay 0.0116% / 1h	54m 42s	$1.5M	$6.7M	50x
Short	Popdex TAOUSDT	311.50	0.0176	get 0.0022% / 1h	54m 42s	$48K	$662K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.441%Rate

Funding earned: −$157.92
Price spread: −0.441% → −0.188%: −$25.31
Slippage, 4 orders: −$29.7
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$229.33
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Popdex: live order book, 59 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, 4 min ago	5.92 bp	10.9 bp −$11	20.1 bp −$201	doesn't fit	doesn't fit
Sell Popdex live order book, 59 min ago	1.75 bp	9.5 bp −$9	83.9 bp −$839	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	311.20	−0.537%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.22	−0.530%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	311.37	−0.483%	$761	$869K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.41	−0.470%	$89.0M	$504.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.50	−0.441%	$26.0M	$121.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.30	−0.505%	$13.4M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.49	−0.444%	$103.7M	$144.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.43	−0.463%	$17.4M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.15	−0.553%	$35.0M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.84	−0.013%	$41K	$313K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	311.25	−0.521%	$81K	$907K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.48	−0.447%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.32	−0.818%	$110K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.71	−0.376%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	311.57	−0.419%	$51K	$290K	10x	as long as short
Aster TAOUSDT	+0.0132%	4h	311.44	−0.460%	$1.3M	$10.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0133% / S +0.0136%	1h	311.22	−0.529%	$417K	—	100x	as long as short
Popdex TAOUSDTshort	+0.0176%	1h	311.50	−0.441%	$48K	$662K	20x
Paradex TAO-USD-PERP	+0.0203%	8h	311.39	−0.477%	$14K	$1K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0204%	4h	313.11	+0.072%	$532K	$942K	10x	as long as short
Pacifica TAO	+0.0233%	1h	311.51	−0.438%	$355K	$419K	10x	as long as short
Bulk TAO-USD	+0.0253%	1h	311.89	−0.317%	$166K	$333	10x	as long as short
Bullet TAO-USD	+0.0304%	1h	311.54	−0.429%	$12K	$17K	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0306%	1h	311.65	−0.395%	$5.5M	$20.7M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.87	−0.323%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0348%	4h	311.52	−0.435%	—	$33.7M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0351%	1h	311.53	−0.430%	$11K	$1.8M	25x	as long as short
Bybit TAOUSDT	+0.0358%	4h	311.45	−0.457%	$67.4M	$151.1M	50x	as long as short
Extended TAO-USD	+0.0360%	1h	311.57	−0.418%	$904K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0371%	4h	312.91	+0.010%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0398%	1h	311.45	−0.458%	$775K	$2.2M	10x	as long as short
Phoenix TAO	+0.0457%	1h	312.80	−0.026%	$311K	$713K	5x	as long as short
Arcus TAO-USD	+0.0483%	1h	311.90	−0.313%	$100K	$370K	5x	as long as short
Phemex TAOUSDT	+0.0595%	4h	311.65	−0.393%	$3.1M	$8.0M	50x	as long as short
Hyperliquid TAO	+0.0648%	1h	311.53	−0.431%	$91.1M	$108.1M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.53	−0.433%	$358	—	20x	as long as short
Lighter TAO	+0.0760%	1h	311.70	−0.377%	$1.5M	$6.5M	5x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	311.56	−0.422%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0835%	1h	311.82	−0.339%	$310K	$885K	10x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0928%	1h	312.88	long leg	$1.5M	$6.7M	50x
RISEx TAO/USDC	+0.0948%	1h	311.52	−0.434%	$445K	$650K	5x	as long as short
ApeX Omni TAOUSDT	+0.1940%	1h	312.51	−0.118%	$46K	$254K	50x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	315.73	+0.911%	$23K	$2K	12x	as long as short