TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0186%/8h= −20.3% APRnext payment −$0.23 per $10,000 · paid last 24h +0.009%

Price spread now: Bullet against Deribit+0.036%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bullet is 0.036% dearer against Deribit than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	313.60	0.0327	pay 0.0041% / 1h	48m 12s	$19K	$1.4M	25x
Short	Bullet TAO-USD	313.71	0.0141	get 0.0018% / 1h	48m 12s	$11K	$17K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$38.98
Price spread: +0.036% → 0.000%: $3.65
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$50.34
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 1 min ago; Bullet: 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 Deribit live order book, 1 min ago	4.30 bp	15.0 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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	−0.4722%	1h	314.01	+0.133%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.68	+0.027%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.44	−0.049%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.253%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.67	+0.024%	$40K	$549K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.65	+0.017%	$371K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.52	−0.024%	$88.7M	$421.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.71	+0.036%	$61.3M	$123.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.40	−0.062%	$25.2M	$99.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.20	−0.126%	$12.5M	$48.9M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.63	+0.011%	$121.0M	$126.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.65	+0.017%	$19.1M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.26	−0.107%	$35.0M	$46.2M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.39	−0.066%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.44	−0.050%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.12	+0.166%	$519K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.37	−0.072%	$47K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.53	−0.021%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.43	−0.053%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.28	−0.101%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.25	−0.110%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.76	+0.051%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.66	+0.020%	$2K	$538K	5x	as long as short
Polymarket Perps TAO-USD	+0.0117%	1h	313.81	+0.068%	$77K	$522K	5x	as long as short
Bullet TAO-USDshort	+0.0141%	1h	313.71	+0.036%	$11K	$17K	20x
Variational Omni TAO	+0.0173%	4h	313.59	−0.003%	$3.8M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	313.51	−0.028%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.92	+0.103%	$83K	$626K	5x	as long as short
Aster TAOUSDT	+0.0212%	4h	313.52	−0.024%	$1.1M	$7.8M	50x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0327%	1h	313.60	long leg	$19K	$1.4M	25x
BloFin TAO-USDT	+0.0340%	4h	314.07	+0.151%	$4.3M	$9.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.59	−0.002%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.41	−0.061%	$449K	—	100x	as long as short
Nado TAO-PERP	+0.0502%	1h	313.65	+0.018%	$843K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.70	−0.286%	$334K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0576%	1h	313.55	−0.015%	$300K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.66	+0.020%	$361	—	20x	as long as short
01 Exchange TAOUSD	+0.0832%	1h	313.91	+0.100%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0840%	1h	313.49	−0.033%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.20	+0.193%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.68	+0.028%	$432K	$536K	5x	as long as short
Lighter TAO	+0.1544%	1h	314.00	+0.130%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2169%	1h	314.25	+0.209%	$98.4M	$82.8M	5x	as long as short