TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0699%/8h= −76.5% APRnext payment −$0.87 per $10,000 · paid last 24h −0.097%

Price spread now: Popdex against Kraken Futures−0.099%7-day average −0.052% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$530.532% of the position

Long on Kraken Futures Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.249%−$25 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now −0.099%, 7d avg −0.052%

Together, before fees−0.361%−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Popdex is 0.047% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.052%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.249% in total (about -24.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.87 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	Kraken Futures PF_TAOUSD	313.13	0.0795	pay 0.0099% / 1h	30m 12s	$6.0M	$21.3M	50x
Short	Popdex TAOUSDT	312.82	0.0096	get 0.0012% / 1h	30m 12s	$49K	$701K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$146.77
Price spread: −0.099% → −0.052%: −$4.71
Slippage, 4 orders: −$36.81
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$204.69
Costs to cover: 0.532%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Popdex: live order book, 4 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	8.57 bp	14.4 bp −$14	21.9 bp −$219	111.9 bp −$11.2K	doesn't fit
Sell Popdex live order book, 4 min ago	1.59 bp	11.1 bp −$11	61.0 bp −$610	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 −0.0003%	1h	312.74	−0.123%	$19K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	312.82	−0.099%	$49K	$701K	20x
Katana Perps TAO-USD	+0.0100%	8h	312.55	−0.185%	$2K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.00	−0.041%	$26.1M	$128.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.50	−0.201%	$14.9M	$49.6M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.71	−0.134%	$17.5M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.80	−0.105%	$35.2M	$57.2M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.26	+0.361%	$45K	$257K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.50	−0.201%	$86K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.84	−0.093%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	312.56	−0.182%	$114K	$588K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.89	−0.077%	$3.1M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0112%	1h	313.07	−0.020%	$172K	$998	3x	as long as short
Bulk TAO-USD	+0.0125%	1h	316.13	+0.958%	$168K	$0	10x	as long as short
Binance TAOUSDT	+0.0128%	4h	313.13	+0.001%	$91.2M	$526.5M	75x	as long as short
MEXC TAO_USDT	+0.0134%	4h	313.17	+0.013%	$104.8M	$152.3M	300x	as long as short
edgeX TAOUSDC	+0.0143%	4h	314.66	+0.487%	$42K	$322K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0144%	4h	315.40	+0.725%	$540K	$876K	10x	as long as short
Bybit TAOUSDT	+0.0185%	4h	313.22	+0.029%	$68.4M	$155.3M	50x	as long as short
dYdX TAO-USD	+0.0206%	1h	312.28	−0.272%	$126K	$86K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0214%	4h	312.96	−0.054%	$53K	$298K	10x	as long as short
Bullet TAO-USD	+0.0229%	1h	312.92	−0.068%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0233%	8h	312.79	−0.108%	$14K	$876	10x	as long as short
Aster TAOUSDT	+0.0294%	4h	312.88	−0.079%	$1.2M	$11.2M	50x	as long as short
Extended TAO-USD	+0.0328%	1h	312.95	−0.057%	$888K	$2.3M	25x	as long as short
Pacifica TAO	+0.0349%	1h	312.70	−0.137%	$367K	$440K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0359% / S −0.0107%	1h	312.75	−0.122%	$367K	—	100x	as long as short
BloFin TAO-USDT	+0.0374%	4h	312.38	−0.239%	$4.7M	$10.7M	100x	as long as short
BingX TAO-USDT	+0.0386%	4h	313.08	−0.016%	—	$38.5M	—	as long as short
Arcus TAO-USD	+0.0404%	1h	313.12	−0.003%	$99K	$362K	5x	as long as short
Hyperliquid TAO	+0.0478%	1h	312.91	−0.070%	$91.8M	$109.2M	5x	as long as short
Nado TAO-PERP	+0.0502%	1h	312.82	−0.098%	$752K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	314.90	+0.565%	$317K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	312.84	−0.093%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0592%	1h	313.23	+0.031%	$1.6M	$6.6M	5x	as long as short
Variational Omni TAO	+0.0593%	4h	312.65	−0.152%	$5.5M	$10.1M	—	as long as short
Backpack TAO_USDC_PERP	+0.0656%	1h	312.59	−0.172%	$308K	$1.0M	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	312.96	−0.055%	$360	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0706%	1h	313.06	−0.022%	$11K	$1.9M	25x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0795%	1h	313.13	long leg	$6.0M	$21.3M	50x
RISEx TAO/USDC	+0.0840%	1h	312.77	−0.115%	$434K	$684K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	313.75	+0.198%	$1.1M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	318.23	+1.629%	$23K	$2K	12x	as long as short