TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0079%/8h= −8.6% APRnext payment −$0.10 per $10,000 · paid last 24h −0.108%

Price spread now: Bullet against Kraken Futures−0.040%51s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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 −$2 a day on $10k at the current rate, and Bullet is 0.040% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 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	Kraken Futures PF_TAOUSD	317.30	0.0247	pay 0.0031% / 1h	9m 29s	$5.6M	$20.8M	50x
Short	Bullet TAO-USD	317.17	0.0168	get 0.0021% / 1h	9m 29s	$12K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$16.55
Price spread: −0.040% → 0.000%: −$3.99
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$38.54
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Bullet: no order-book sample. 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 Kraken Futures live order book, 5 min ago	6.62 bp	12.3 bp −$12	29.8 bp −$298	107.3 bp −$10.7K	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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 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	+2.481%	$172K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.62	−0.214%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.09	−0.066%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.17	−0.040%	$40K	$687K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.14	−0.048%	$92.2M	$490.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.10	−0.062%	$26.1M	$120.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.90	−0.125%	$13.0M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.15	−0.046%	$102.8M	$143.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.11	−0.059%	$17.6M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.98	−0.100%	$35.4M	$55.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.99	−0.097%	$36K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.06	−0.075%	$88K	$796K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.21	−0.027%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.33	+0.011%	$128K	$482K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.40	+0.033%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	316.77	−0.166%	$673	$776K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	317.21	−0.027%	$57K	$276K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0157% / S +0.0112%	1h	317.16	−0.044%	$430K	—	100x	as long as short
Bullet TAO-USDshort	+0.0168%	1h	317.17	−0.040%	$12K	$18K	20x
Phemex TAOUSDT	+0.0171%	4h	317.22	−0.024%	$3.4M	$7.9M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0192%	4h	318.34	+0.328%	$528K	$952K	10x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0247%	1h	317.30	long leg	$5.6M	$20.8M	50x
Paradex TAO-USD-PERP	+0.0249%	8h	317.18	−0.036%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0275%	1h	317.44	+0.046%	$15K	$1.6M	25x	as long as short
Aster TAOUSDT	+0.0284%	4h	317.32	+0.007%	$1.2M	$10.1M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.43	+0.042%	$3.9M	$11.3M	100x	as long as short
ApeX Omni TAOUSDT	+0.0371%	1h	316.95	−0.109%	$47K	$253K	50x	as long as short
Bybit TAOUSDT	+0.0406%	4h	317.34	+0.014%	$69.5M	$146.2M	50x	as long as short
Pacifica TAO	+0.0448%	1h	316.92	−0.118%	$373K	$413K	10x	as long as short
BingX TAO-USDT	+0.0448%	4h	317.10	−0.062%	—	$30.4M	—	as long as short
Phoenix TAO	+0.0504%	1h	317.70	+0.127%	$332K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	317.34	+0.014%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0598%	1h	317.12	−0.056%	$817K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0664%	1h	316.95	−0.109%	$932K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	317.02	−0.087%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.06	−0.073%	$365	—	20x	as long as short
Lighter TAO	+0.0736%	1h	316.98	−0.099%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0799%	4h	316.62	−0.212%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0882%	1h	317.68	+0.121%	$316K	$927K	10x	as long as short
Hyperliquid TAO	+0.1024%	1h	317.34	+0.014%	$96.1M	$103.9M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.66	−0.201%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	317.07	−0.070%	$445K	$657K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.363%	$23K	$2K	12x	as long as short