TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0275%/8h= −30.1% APRnext payment −$0.34 per $10,000 · paid last 24h −0.057%

Price spread now: Arcus against Kraken Futures+0.005%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on Kraken Futures Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.216%−$22 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.005%, 7d avg +0.029%

Together, before fees−0.267%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Arcus is 0.023% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	313.48	0.0862	pay 0.0108% / 1h	48m 16s	$6.2M	$19.6M	50x
Short	Arcus TAO-USD	313.50	0.0587	get 0.0073% / 1h	48m 16s	$99K	$285K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Kraken Futures. 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 Kraken FuturesbpFee ArcusbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$57.71
Price spread: +0.005% → +0.029%: −$2.33
Slippage, 4 orders: −$33.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$108.27
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Arcus: live order book, 58 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 Kraken Futures live order book, 4 min ago	5.77 bp	14.3 bp −$14	19.5 bp −$195	74.8 bp −$7,478	doesn't fit
Sell Arcus live order book, 58 min ago	5.06 bp	9.1 bp −$9	21.3 bp −$213	doesn't fit	doesn't fit

TAO on 43 exchanges

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 −0.0003%	1h	313.00	−0.155%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.27	−0.068%	$54K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.40	−0.027%	$26.7M	$125.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.90	−0.186%	$16.1M	$46.5M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.28	−0.065%	$17.2M	$31.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.20	−0.090%	$35.4M	$54.3M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	313.14	−0.110%	$68K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.27	−0.068%	$2K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.59	−0.285%	$114K	$550K	20x	as long as short
Katana Perps TAO-USD	+0.0102%	8h	313.08	−0.129%	$1K	$1.3M	5x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended TAO-USD	+0.0104%	1h	313.46	−0.009%	$922K	$2.1M	25x	as long as short
ApeX Omni TAOUSDT	+0.0105%	1h	312.02	−0.467%	$44K	$254K	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	314.33	+0.270%	$173K	$998	3x	as long as short
MEXC TAO_USDT	+0.0166%	4h	313.16	−0.103%	$111.6M	$147.1M	300x	as long as short
Binance TAOUSDT	+0.0168%	4h	313.21	−0.086%	$92.9M	$507.0M	75x	as long as short
edgeX TAOUSDC	+0.0172%	4h	311.93	−0.495%	$41K	$325K	10x	as long as short
Pacifica TAO	+0.0223%	1h	313.76	+0.088%	$381K	$455K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0272%	4h	312.02	−0.466%	$531K	$786K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0280%	4h	313.46	−0.007%	$52K	$262K	10x	as long as short
Paradex TAO-USD-PERP	+0.0298%	8h	313.76	+0.090%	$14K	$769	10x	as long as short
Bullet TAO-USD	+0.0309%	1h	313.33	−0.049%	$12K	$16K	20x	as long as short
Lighter TAO	+0.0312%	1h	313.92	+0.139%	$1.6M	$6.7M	5x	as long as short
Aster TAOUSDT	+0.0353%	4h	313.24	−0.077%	$1.2M	$11.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0371% / S −0.0114%	1h	312.97	−0.162%	$377K	—	100x	as long as short
BingX TAO-USDT	+0.0372%	4h	313.25	−0.074%	—	$37.7M	—	as long as short
Bybit TAOUSDT	+0.0392%	4h	313.57	+0.028%	$69.3M	$154.5M	50x	as long as short
BloFin TAO-USDT	+0.0406%	4h	312.15	−0.425%	$4.9M	$10.5M	100x	as long as short
dYdX TAO-USD	+0.0461%	1h	313.18	−0.097%	$264K	$230K	5x	as long as short
Nado TAO-PERP	+0.0482%	1h	313.06	−0.136%	$651K	$2.0M	10x	as long as short
Phemex TAOUSDT	+0.0485%	4h	312.73	−0.240%	$3.1M	$8.3M	50x	as long as short
Hyperliquid TAO	+0.0554%	1h	313.19	−0.094%	$93.6M	$105.4M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0568%	1h	313.49	+0.003%	$23K	$1.9M	25x	as long as short
Arcus TAO-USDshort	+0.0587%	1h	313.50	+0.005%	$99K	$285K	5x
Variational Omni TAO	+0.0603%	4h	312.01	−0.469%	$6.2M	$10.1M	—	as long as short
Phoenix TAO	+0.0636%	1h	312.80	−0.218%	$314K	$701K	5x	as long as short
RISEx TAO/USDC	+0.0694%	1h	313.15	−0.105%	$436K	$664K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	313.02	−0.147%	$360	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0728%	1h	313.68	+0.063%	$1.1M	$7.4M	50x	as long as short
01 Exchange TAOUSD	+0.0784%	1h	313.61	+0.040%	$3K	$2K	5x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0862%	1h	313.48	long leg	$6.2M	$19.6M	50x
Backpack TAO_USDC_PERP	+0.0883%	1h	312.80	−0.218%	$297K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.1436%	1h	313.89	+0.130%	$166K	$662	10x	as long as short
Injective TAO/USDC PERP	+0.4136%	1h	317.23	+1.195%	$23K	$2K	12x	as long as short