TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0822%/8h= +90.0% APRnext payment +$1.03 per $10,000 · paid last 24h +0.250%

Price spread now: Coinbase International against dYdX+0.370%7-day average +0.228% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$930.931% of the position

Long on dYdX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.518%+$52 on $10k

Price spread, last 4 days (all we have)−0.146%−$15 · spread now +0.370%, 7d avg +0.228%

Together, before fees+0.372%+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Coinbase International is 0.142% dearer against dYdX than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.228%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.518% in total (about 27.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.03 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	dYdX TAO-USD	316.17	0.0122	pay 0.0015% / 1h	52m 32s	$127K	$86K	5x
Short	Coinbase International TAO-PERP-INTX	317.34	0.0944	get 0.0118% / 1h	52m 32s	$1.2M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against dYdX. 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 dYdXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.370%Rate

Funding earned: $172.53
Price spread: +0.370% → +0.228%: $14.18
Slippage, 4 orders: −$73.1
Fee dYdX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $93.61
Costs to cover: 0.931%
Break-even: 3.2 days

Slippage from dYdX: live order book, 46 min ago; Coinbase International: live order book, 1 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 dYdX live order book, 46 min ago	27.37 bp	32.4 bp −$32	39.3 bp −$393	129.2 bp −$12.9K	563.6 bp −$281.8K
Sell Coinbase International live order book, 1 min ago	8.21 bp	14.2 bp −$14	17.7 bp −$177	doesn't fit	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	315.63	−0.170%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.82	+0.206%	$49K	$718K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	316.63	+0.145%	$1K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.60	+0.136%	$26.4M	$130.9M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	317.09	+0.291%	$168K	$0	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.20	+0.009%	$14.8M	$49.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.61	+0.139%	$17.8M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.38	+0.066%	$35.6M	$57.7M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.18	+0.004%	$541K	$887K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.37	+0.063%	$87K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	316.36	+0.060%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.33	+0.051%	$115K	$590K	20x	as long as short
ApeX Omni TAOUSDT	+0.0101%	1h	315.82	−0.111%	$45K	$259K	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.69	+0.165%	$174K	$998	3x	as long as short
dYdX TAO-USDlong	+0.0122%	1h	316.17	long leg	$127K	$86K	5x
MEXC TAO_USDT	+0.0164%	4h	316.57	+0.127%	$104.0M	$151.3M	300x	as long as short
Binance TAOUSDT	+0.0166%	4h	316.69	+0.164%	$92.6M	$531.5M	75x	as long as short
edgeX TAOUSDC	+0.0172%	4h	315.95	−0.071%	$42K	$320K	10x	as long as short
BingX TAO-USDT	+0.0176%	4h	316.59	+0.133%	—	$37.3M	—	as long as short
Orderly PERP_TAO_USDC	+0.0196%	4h	316.60	+0.136%	$54K	$299K	10x	as long as short
Paradex TAO-USD-PERP	+0.0251%	8h	316.31	+0.045%	$14K	$876	10x	as long as short
Bullet TAO-USD	+0.0293%	1h	316.58	+0.130%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0323%	4h	316.72	+0.175%	$1.3M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	316.41	+0.077%	$371K	$454K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0366% / S −0.0107%	1h	316.21	+0.013%	$372K	—	100x	as long as short
Extended TAO-USD	+0.0384%	1h	316.70	+0.167%	$899K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0404%	1h	316.83	+0.209%	$100K	$377K	5x	as long as short
BloFin TAO-USDT	+0.0405%	4h	316.62	+0.142%	$4.8M	$10.9M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0448%	1h	316.50	+0.105%	$15K	$1.9M	25x	as long as short
Nado TAO-PERP	+0.0564%	1h	316.82	+0.205%	$777K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0570%	1h	316.77	+0.191%	$93.7M	$109.5M	5x	as long as short
Phoenix TAO	+0.0578%	1h	318.30	+0.674%	$320K	$714K	5x	as long as short
Variational Omni TAO	+0.0589%	4h	316.63	+0.146%	$5.6M	$10.1M	—	as long as short
Phemex TAOUSDT	+0.0606%	4h	316.49	+0.101%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0648%	1h	316.56	+0.122%	$1.6M	$6.6M	5x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	317.15	+0.310%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.52	+0.111%	$364	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0786%	1h	316.72	+0.172%	$6.0M	$21.4M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0829%	1h	316.77	+0.190%	$317K	$1.0M	10x	as long as short
RISEx TAO/USDC	+0.0840%	1h	316.76	+0.188%	$449K	$668K	5x	as long as short
Bybit TAOUSDT	+0.0881%	4h	316.74	+0.180%	$69.7M	$156.3M	50x	as long as short
Coinbase International TAO-PERP-INTXshort	+0.0944%	1h	317.34	+0.370%	$1.2M	$7.3M	50x
Injective TAO/USDC PERP	+0.3512%	1h	321.91	+1.815%	$23K	$2K	12x	as long as short