Funding you earn now, next payment 03:00 UTC−0.4105%/8h= −449.4% APRnext payment −$5.13 per $10,000 · paid last 24h −0.322%
Price spread now: Bulk against Deribit−1.054%7-day average −0.128% · 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−$120as in the Price arb table
costs, in and out, $10k−$270.272% of the position
Funding, last 4 days (all we have)−0.331%−$33 on $10k
+Price spread, last 4 days (all we have)+0.828%+$83 · spread now −1.054%, 7d avg −0.128%
=Both sides work against this trade now: funding costs −$123 a day on $10k at the current rate, and Bulk is 0.926% cheaper against Deribit than usual: you would sell low and buy high (−$93 if the spread goes back to its 7-day average of −0.128%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.331% in total (about -34.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.13 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit TAO_USDC-PERPETUAL | 319.86 | 0.0453 | pay 0.0057% / 1h | 40m 34s | $17K | $1.6M | 25x |
| Short | Bulk TAO-USD | 316.49 | −0.3652 | pay 0.0456% / 1h | 40m 34s | $168K | $1K | 10x |
Deribit TAO_USDC-PERPETUAL
Bulk TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Deribit. 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
- −$861.95
- Price spread: −1.054% → −0.128%
- −$92.59
- Slippage, 4 orders
- −$13.16
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$981.7
- Costs to cover
- 0.272%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 3 min ago; Bulk: live order book, 23 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 | 3.14 bp | 11.9 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bulk live order book, 23 min ago | 0.16 bp | 3.9 bp −$4 | 4.2 bp −$42 | 4.3 bp −$429 | 10.2 bp −$5,110 |
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-USDshort | −0.3652% | 1h | 316.49 | −1.054% | $168K | $1K | 10x | |
| dYdX TAO-USD | 0.0000% | 1h | 320.00 | +0.043% | $128K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.92 | +0.017% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 320.71 | +0.265% | $44K | $654K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 320.73 | +0.272% | $92.9M | $471.8M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 320.20 | +0.106% | $26.5M | $117.0M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 320.50 | +0.200% | $13.1M | $49.3M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 320.71 | +0.265% | $107.1M | $139.2M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.90 | +0.012% | $18.1M | $30.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 319.94 | +0.025% | $35.7M | $53.9M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 318.60 | −0.395% | $36K | $300K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 320.42 | +0.175% | $74K | $764K | 5x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 320.11 | +0.078% | $58K | $282K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.90 | +0.012% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.98 | +0.037% | $130K | $478K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 319.93 | +0.022% | $3.4M | $7.8M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.98 | +0.036% | $176K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0115% | 8h | 320.65 | +0.247% | $681 | $754K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0163% / S +0.0106% | 1h | 320.08 | +0.069% | $435K | — | 100x | as long as short |
| GRVT TAO_USDT_Perp | +0.0224% | 4h | 318.95 | −0.284% | $526K | $955K | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0245% | 1h | 319.88 | +0.005% | $5.6M | $20.5M | 50x | as long as short |
| Bullet TAO-USD | +0.0289% | 1h | 320.50 | +0.200% | $12K | $18K | 20x | as long as short |
| Aster TAOUSDT | +0.0330% | 4h | 320.14 | +0.087% | $1.2M | $9.3M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0331% | 8h | 320.76 | +0.281% | $15K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 320.59 | +0.228% | $4.5M | $10.7M | 100x | as long as short |
| Pacifica TAO | +0.0448% | 1h | 320.39 | +0.167% | $378K | $396K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUALlong | +0.0453% | 1h | 319.86 | long leg | $17K | $1.6M | 25x | |
| Phoenix TAO | +0.0504% | 1h | 318.90 | −0.300% | $333K | $707K | 5x | as long as short |
| Arcus TAO-USD | +0.0509% | 1h | 321.05 | +0.372% | $101K | $489K | 5x | as long as short |
| Nado TAO-PERP | +0.0527% | 1h | 320.35 | +0.151% | $773K | $2.1M | 10x | as long as short |
| BingX TAO-USDT | +0.0642% | 4h | 320.74 | +0.275% | — | $30.3M | — | as long as short |
| Bybit TAOUSDT | +0.0648% | 4h | 320.55 | +0.215% | $68.3M | $140.0M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 320.07 | +0.064% | $368 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0784% | 1h | 321.39 | +0.478% | $3K | $4K | 5x | as long as short |
| Variational Omni TAO | +0.0878% | 4h | 320.22 | +0.111% | $5.9M | $9.7M | — | as long as short |
| ApeX Omni TAOUSDT | +0.0883% | 1h | 318.78 | −0.338% | $47K | $253K | 50x | as long as short |
| Lighter TAO | +0.0896% | 1h | 320.52 | +0.205% | $1.6M | $6.3M | 5x | as long as short |
| Extended TAO-USD | +0.0920% | 1h | 320.65 | +0.247% | $937K | $2.3M | 25x | as long as short |
| Backpack TAO_USDC_PERP | +0.0981% | 1h | 320.10 | +0.075% | $440K | $860K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 320.00 | +0.043% | $1.5M | $6.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1159% | 1h | 320.74 | +0.273% | $455K | $627K | 5x | as long as short |
| Hyperliquid TAO | +0.1400% | 1h | 320.57 | +0.222% | $100.6M | $98.9M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4172% | 1h | 319.69 | −0.053% | $23K | $2K | 12x | as long as short |
edgeX TAOUSDC
Polymarket Perps TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
GRVT TAO_USDT_Perp
Kraken Futures PF_TAOUSD
Bullet TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
BloFin TAO-USDT
Pacifica TAO
Phoenix TAO
Arcus TAO-USD
Nado TAO-PERP
BingX TAO-USDT
Bybit TAOUSDT
Reya TAORUSDPERP
01 Exchange TAOUSD
Variational Omni TAO
ApeX Omni TAOUSDT
Lighter TAO
Extended TAO-USD
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP