TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0233%/8h= −25.5% APRnext payment −$0.29 per $10,000 · paid last 24h +0.036%

Price spread now: dYdX against Deribit−0.100%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1191.189% of the position

Long on Deribit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.295%+$30 on $10k

Price spread, last 3 days (all we have)−0.032%−$3 · spread now −0.100%, 7d avg −0.063%

Together, before fees+0.263%+$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and dYdX is 0.036% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.063%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.295%, 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	313.11	0.0233	pay 0.0029% / 1h	46m 47s	$24K	$1.4M	25x
Short	dYdX TAO-USD	312.80	0	get 0.0000% / 1h	46m 47s	$125K	$88K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$48.93
Price spread: −0.100% → −0.063%: −$3.63
Slippage, 4 orders: −$101.88
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$171.44
Costs to cover: 1.189%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; dYdX: live order book, 32 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, 2 min ago	4.30 bp	15.0 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 32 min ago	36.40 bp	41.5 bp −$42	64.9 bp −$649	185.3 bp −$18.5K	1078.0 bp −$539.0K

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	+0.287%	$168K	$48K	10x	as long as short
dYdX TAO-USDshort	0.0000%	1h	312.80	−0.100%	$125K	$88K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.04	−0.022%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.408%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.80	+0.220%	$40K	$549K	20x	as long as short
Pacifica TAO	+0.0100%	1h	314.48	+0.437%	$372K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.98	−0.042%	$88.6M	$422.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.12	+0.003%	$61.4M	$123.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.00	−0.036%	$25.1M	$100.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.20	+0.028%	$12.7M	$49.0M	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	313.33	+0.070%	$121.3M	$126.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.32	+0.067%	$19.0M	$27.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.01	−0.032%	$35.0M	$46.2M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.30	+0.060%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.65	+0.171%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.17	+0.339%	$519K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.37	+0.083%	$47K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.20	+0.028%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.18	+0.022%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.88	+0.245%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.07	−0.013%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.37	+0.081%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.91	+0.255%	$2K	$537K	5x	as long as short
Polymarket Perps TAO-USD	+0.0123%	1h	313.86	+0.239%	$77K	$522K	5x	as long as short
Bullet TAO-USD	+0.0145%	1h	313.41	+0.096%	$11K	$17K	20x	as long as short
Variational Omni TAO	+0.0173%	4h	313.59	+0.151%	$3.8M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	314.25	+0.363%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	314.16	+0.335%	$83K	$626K	5x	as long as short
Aster TAOUSDT	+0.0209%	4h	313.22	+0.033%	$1.1M	$7.8M	50x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0233%	1h	313.11	long leg	$24K	$1.4M	25x
BloFin TAO-USDT	+0.0340%	4h	313.41	+0.095%	$4.3M	$9.7M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.34	+0.073%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0476% / S −0.0175%	1h	313.06	−0.017%	$450K	—	100x	as long as short
Nado TAO-PERP	+0.0506%	1h	313.65	+0.173%	$843K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	313.80	+0.220%	$328K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0575%	1h	313.31	+0.063%	$300K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.47	+0.115%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	314.27	+0.370%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0848%	1h	313.31	+0.065%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.43	+0.421%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	314.06	+0.304%	$432K	$536K	5x	as long as short
Lighter TAO	+0.1504%	1h	313.61	+0.160%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2146%	1h	313.91	+0.255%	$98.3M	$82.8M	5x	as long as short