TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0192%/8h= +21.0% APRnext payment +$0.24 per $10,000 · paid last 24h +0.110%

Price spread now: Kraken Futures against Deribit−0.033%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.395%+$39 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.033%, 7d avg +0.028%

Together, before fees+0.458%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.061% cheaper against Deribit than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.028%). If the spread goes back, that is −$6 on $10k: about 26 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	315.57	0.0057	pay 0.0007% / 1h	12m 19s	$16K	$1.6M	25x
Short	Kraken Futures PF_TAOUSD	315.46	0.0249	get 0.0031% / 1h	12m 19s	$5.6M	$20.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.033%Rate

Funding earned: $40.26
Price spread: −0.033% → +0.028%: −$6.11
Slippage, 4 orders: −$26.94
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$9.79
Costs to cover: 0.439%
Break-even: 8.7 days

Slippage from Deribit: live order book, 2 min ago; Kraken Futures: live order book, 2 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	3.31 bp	8.7 bp −$9	17.9 bp −$179	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	6.62 bp	16.1 bp −$16	38.9 bp −$389	147.7 bp −$14.8K	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
Bulk TAO-USD	−0.1916%	1h	325.17	+3.042%	$172K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.15	+0.184%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.32	−0.080%	$20K	—	150x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0057%	1h	315.57	long leg	$16K	$1.6M	25x
Popdex TAOUSDT	+0.0096%	1h	316.37	+0.254%	$40K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.52	−0.015%	$91.8M	$489.0M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.50	−0.022%	$26.0M	$119.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.40	−0.054%	$12.9M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.95	+0.121%	$101.2M	$143.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.96	+0.124%	$17.6M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.17	−0.126%	$35.2M	$55.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	323.66	+2.564%	$36K	$303K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.11	+0.171%	$87K	$794K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.20	−0.117%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.57	0.000%	$128K	$482K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.46	−0.035%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	316.04	+0.149%	$672	$776K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	315.27	−0.095%	$57K	$282K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0157% / S +0.0112%	1h	315.32	−0.077%	$429K	—	100x	as long as short
Bullet TAO-USD	+0.0199%	1h	315.43	−0.045%	$12K	$18K	20x	as long as short
Phemex TAOUSDT	+0.0219%	4h	315.93	+0.114%	$3.4M	$7.9M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0224%	4h	321.44	+1.860%	$533K	$965K	10x	as long as short
Kraken Futures PF_TAOUSDshort	+0.0249%	1h	315.46	−0.033%	$5.6M	$20.8M	50x
Paradex TAO-USD-PERP	+0.0260%	8h	316.36	+0.252%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0290%	4h	316.00	+0.136%	$1.2M	$10.0M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.00	+0.137%	$3.8M	$11.3M	100x	as long as short
Bybit TAOUSDT	+0.0442%	4h	315.60	+0.010%	$69.2M	$146.0M	50x	as long as short
Pacifica TAO	+0.0448%	1h	316.36	+0.251%	$374K	$405K	10x	as long as short
BingX TAO-USDT	+0.0452%	4h	315.44	−0.041%	—	$30.4M	—	as long as short
Phoenix TAO	+0.0504%	1h	324.80	+2.925%	$340K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.72	+0.365%	$100K	$488K	5x	as long as short
ApeX Omni TAOUSDT	+0.0524%	1h	324.14	+2.716%	$48K	$253K	50x	as long as short
Nado TAO-PERP	+0.0619%	1h	315.87	+0.095%	$790K	$2.2M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.93	+0.115%	$363	—	20x	as long as short
Extended TAO-USD	+0.0704%	1h	315.37	−0.064%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0720%	1h	316.35	+0.247%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0760%	1h	316.80	+0.389%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0831%	4h	317.31	+0.553%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0928%	1h	315.29	−0.088%	$314K	$923K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.00	+0.137%	$1.5M	$6.8M	50x	as long as short
Hyperliquid TAO	+0.1076%	1h	316.09	+0.165%	$95.9M	$104.5M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.36	+0.249%	$444K	$657K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.917%	$23K	$2K	12x	as long as short