TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0526%/8h= +57.6% APRnext payment +$0.66 per $10,000 · paid last 24h +0.235%

Price spread now: Coinbase International against Deribit−0.009%7-day average +0.161% · you buy dearer than you sell

Net, funding: paid 7d − costs+$19as in the Funding arb table

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

costs, in and out, $10k−$540.537% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.727%+$73 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now −0.009%, 7d avg +0.161%

Together, before fees+0.832%+$83 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.170% cheaper against Deribit than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.161%). If the spread goes back, that is −$17 on $10k: about 26 hours of funding at the current rate (+$16 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	315.40	0.0498	pay 0.0062% / 1h	26m 07s	$24K	$1.5M	25x
Short	Coinbase International TAO-PERP-INTX	315.37	0.1024	get 0.0128% / 1h	26m 07s	$1.5M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.009%Rate

Funding earned: $110.46
Price spread: −0.009% → +0.161%: −$16.96
Slippage, 4 orders: −$36.7
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $39.8
Costs to cover: 0.537%
Break-even: 4.5 days

Slippage from Deribit: live order book, 3 min ago; Coinbase International: live order book, 3 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	5.60 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	8.46 bp	14.4 bp −$14	20.7 bp −$207	doesn't fit	doesn't fit

TAO on 42 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	315.19	−0.067%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.12	−0.089%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.43	+0.010%	$39K	$626K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.56	+0.051%	$90.4M	$464.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.60	+0.064%	$25.9M	$112.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.20	−0.063%	$12.8M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.47	+0.023%	$109.3M	$138.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.47	+0.023%	$18.1M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.39	−0.002%	$35.2M	$53.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.67	−0.864%	$35K	$298K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	313.06	−0.741%	$47K	$256K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.43	+0.010%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.33	−0.021%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.25	−0.047%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.25	−0.047%	$3.4M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.85	+0.142%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0116%	4h	313.32	−0.660%	$516K	$966K	10x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	315.57	+0.055%	$1K	$700K	5x	as long as short
Polymarket Perps TAO-USD	+0.0148%	1h	315.38	−0.006%	$83K	$679K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0167%	1h	315.36	−0.011%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0091%	1h	315.04	−0.112%	$441K	—	100x	as long as short
Bullet TAO-USD	+0.0227%	1h	315.43	+0.010%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0238%	4h	315.49	+0.029%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	315.50	+0.033%	$371K	$381K	10x	as long as short
Paradex TAO-USD-PERP	+0.0332%	8h	315.42	+0.007%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.73	+0.105%	$99K	$529K	5x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	312.28	−0.989%	$23K	$2K	12x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0498%	1h	315.40	long leg	$24K	$1.5M	25x
Nado TAO-PERP	+0.0503%	1h	315.31	−0.028%	$780K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	312.30	−0.982%	$326K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	315.74	+0.108%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.34	−0.018%	$363	—	20x	as long as short
BingX TAO-USDT	+0.0760%	4h	315.55	+0.048%	—	$31.0M	—	as long as short
Variational Omni TAO	+0.0822%	4h	315.55	+0.049%	$5.5M	$8.9M	—	as long as short
Bybit TAOUSDT	+0.0832%	4h	315.64	+0.077%	$66.1M	$137.6M	50x	as long as short
Extended TAO-USD	+0.0896%	1h	315.40	+0.002%	$903K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0906%	1h	315.66	+0.083%	$319K	$814K	10x	as long as short
Coinbase International TAO-PERP-INTXshort	+0.1024%	1h	315.37	−0.009%	$1.5M	$6.5M	50x
RISEx TAO/USDC	+0.1132%	1h	315.46	+0.020%	$451K	$630K	5x	as long as short
Hyperliquid TAO	+0.1238%	1h	315.87	+0.150%	$99.9M	$94.8M	5x	as long as short
Lighter TAO	+0.1424%	1h	315.88	+0.154%	$1.6M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−2.046%	$164K	$40K	10x	as long as short