TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0302%/8h= −33.0% APRnext payment −$0.38 per $10,000 · paid last 24h −0.500%

Price spread now: Kraken Futures against Injective−1.262%63s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−3.195%−$320 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Kraken Futures is 1.262% cheaper against Injective than usual: you would sell low and buy high (−$126 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	318.67	0.0470	pay 0.0059% / 1h	20m 11s	$23K	$2K	12x
Short	Kraken Futures PF_TAOUSD	314.65	0.0168	get 0.0021% / 1h	20m 11s	$5.6M	$20.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Injective. 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 InjectivebpFee Kraken FuturesbpOrdersPrice spread, now −1.262%Rate

Funding earned: −$63.36
Price spread: −1.262% → 0.000%: −$126.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$199.63
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 4 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 4 min ago	10.12 bp	21.0 bp −$21	43.4 bp −$434	117.2 bp −$11.7K	doesn't fit

Injective: 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 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	314.23	−1.393%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.49	−1.312%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.67	−1.255%	$41K	$631K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.92	−1.177%	$90.4M	$467.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.00	−1.152%	$26.0M	$112.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.70	−1.246%	$12.8M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.94	−1.170%	$111.0M	$139.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.76	−1.227%	$18.0M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.93	−1.174%	$35.1M	$53.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.56	−0.661%	$35K	$299K	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	316.92	−0.549%	$47K	$252K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.79	−1.218%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.54	−1.296%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.49	−1.312%	$129K	$472K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.07	−1.131%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	314.55	−1.293%	$2K	$710K	5x	as long as short
Phemex TAOUSDT	+0.0121%	4h	314.68	−1.252%	$3.4M	$7.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0125%	1h	314.86	−1.196%	$81K	$681K	5x	as long as short
Kraken Futures PF_TAOUSDshort	+0.0168%	1h	314.65	−1.262%	$5.6M	$20.5M	50x
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0098%	1h	314.49	−1.311%	$430K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0174%	4h	317.11	−0.489%	$523K	$954K	10x	as long as short
Bullet TAO-USD	+0.0244%	1h	314.79	−1.218%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0260%	4h	314.75	−1.230%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	314.61	−1.274%	$370K	$381K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	314.75	−1.230%	$99K	$529K	5x	as long as short
Paradex TAO-USD-PERP	+0.0360%	8h	314.40	−1.339%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERPlong	+0.0470%	1h	318.67	long leg	$23K	$2K	12x
Deribit TAO_USDC-PERPETUAL	+0.0472%	1h	314.66	−1.259%	$23K	$1.5M	25x	as long as short
Nado TAO-PERP	+0.0527%	1h	314.60	−1.277%	$785K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	317.30	−0.430%	$332K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	314.70	−1.246%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.60	−1.276%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0780%	4h	315.25	−1.073%	—	$30.9M	—	as long as short
Variational Omni TAO	+0.0845%	4h	315.73	−0.924%	$5.5M	$8.9M	—	as long as short
Bybit TAOUSDT	+0.0854%	4h	315.14	−1.108%	$66.1M	$138.0M	50x	as long as short
Extended TAO-USD	+0.0912%	1h	314.68	−1.253%	$905K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0926%	1h	315.28	−1.064%	$319K	$810K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.39	−0.715%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	314.50	−1.307%	$449K	$631K	5x	as long as short
Hyperliquid TAO	+0.1322%	1h	315.55	−0.979%	$100.0M	$95.0M	5x	as long as short
Lighter TAO	+0.1408%	1h	315.22	−1.083%	$1.6M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−3.052%	$164K	$40K	10x	as long as short