TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0159%/8h= −17.4% APRnext payment −$0.20 per $10,000 · paid last 24h −0.003%

Price spread now: Aevo against Deribit−0.031%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1361.358% of the position

Long on Deribit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.031%, 7d avg +0.015%

Together, before fees+0.194%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aevo is 0.047% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.182%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	313.67	0.0263	pay 0.0033% / 1h	56m 02s	$22K	$1.7M	25x
Short	Aevo TAO-PERP	313.57	0.0104	get 0.0013% / 1h	56m 02s	$172K	$998	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Deribit. 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 DeribitbpFee AevobpOrdersPrice spread, now −0.031%Rate

Funding earned: −$33.39
Price spread: −0.031% → +0.015%: −$4.69
Slippage, 4 orders: −$112.77
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$173.85
Costs to cover: 1.358%
Break-even: never at this rate

Slippage from Deribit: live order book, 3 min ago; Aevo: live order book, 63 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 Deribit live order book, 3 min ago	5.88 bp	11.3 bp −$11	294.3 bp −$2,943	doesn't fit	doesn't fit
Sell Aevo live order book, 63 min ago	37.19 bp	62.6 bp −$63	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
Gate TAO_USDT	−0.0544%	4h	313.10	−0.181%	$13.0M	$49.2M	50x	as long as short
Kraken Futures PF_TAOUSD	−0.0346%	1h	313.43	−0.075%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	−0.0128%	1h	313.18	−0.155%	$43K	$653K	20x	as long as short
dYdX TAO-USD	0.0000%	1h	313.27	−0.128%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.33	−0.106%	$20K	—	150x	as long as short
Polymarket Perps TAO-USD	+0.0074%	1h	312.96	−0.225%	$77K	$863K	5x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	313.04	−0.200%	$641	$804K	5x	as long as short
Hyperliquid TAO	+0.0100%	1h	313.57	−0.031%	$92.0M	$106.9M	5x	as long as short
Pacifica TAO	+0.0100%	1h	313.37	−0.094%	$358K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.35	−0.102%	$90.5M	$495.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TAOUSDT	+0.0100%	4h	313.39	−0.088%	$67.5M	$149.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.40	−0.085%	$25.9M	$120.2M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.80	+0.361%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.29	−0.120%	$100.6M	$143.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.45	−0.069%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.18	−0.155%	$35.0M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.35	−0.101%	—	$33.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.93	+0.403%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.82	+0.366%	$534K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.03	+0.434%	$46K	$255K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	313.49	−0.057%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.05	−0.197%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.90	−0.245%	$109K	$535K	20x	as long as short
Aevo TAO-PERPshort	+0.0104%	1h	313.57	−0.031%	$172K	$998	3x
Orderly PERP_TAO_USDC	+0.0124%	4h	313.61	−0.018%	$52K	$271K	10x	as long as short
Aster TAOUSDT	+0.0136%	4h	313.50	−0.054%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	313.31	−0.115%	$425K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0145%	8h	313.63	−0.012%	$14K	$1K	10x	as long as short
Extended TAO-USD	+0.0192%	1h	313.64	−0.010%	$918K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	313.49	−0.057%	$101K	$440K	5x	as long as short
Nado TAO-PERP	+0.0263%	1h	313.16	−0.163%	$795K	$2.2M	10x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0263%	1h	313.67	long leg	$22K	$1.7M	25x
Backpack TAO_USDC_PERP	+0.0294%	1h	313.48	−0.060%	$311K	$914K	10x	as long as short
01 Exchange TAOUSD	+0.0328%	1h	313.30	−0.117%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.29	−0.120%	$4.5M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0362%	4h	313.70	+0.010%	$5.6M	$9.9M	—	as long as short
Lighter TAO	+0.0424%	1h	313.73	+0.021%	$1.5M	$6.4M	5x	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.584%	$314K	$695K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.16	−0.163%	$360	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	313.17	−0.158%	$433K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	314.04	+0.119%	$1.5M	$6.6M	50x	as long as short
Phemex TAOUSDT	+0.1467%	4h	313.46	−0.066%	$3.2M	$8.1M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+1.276%	$23K	$2K	12x	as long as short