TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1320%/8h= −144.5% APRnext payment −$1.65 per $10,000 · paid last 24h −0.079%

Price spread now: Aevo against Lighter−0.063%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1121.119% of the position

Long on Lighter Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$15 on $10k

Price spread, last 3 days (all we have)+0.065%+$6 · spread now −0.063%, 7d avg −0.032%

Together, before fees−0.081%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and Aevo is 0.031% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.145% in total (about -7.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.65 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	Lighter TAO	316.37	0.1424	pay 0.0178% / 1h	8m 59s	$1.7M	$6.1M	5x
Short	Aevo TAO-PERP	316.17	0.0104	get 0.0013% / 1h	8m 59s	$174K	$998	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Lighter. 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 LighterbpFee AevobpOrdersPrice spread, now −0.063%Rate

Funding earned: −$277.2
Price spread: −0.063% → −0.032%: −$3.11
Slippage, 4 orders: −$95.91
Fee Lighter: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$392.22
Costs to cover: 1.119%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Aevo: live order book, 65 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 Lighter live order book, 4 min ago	2.24 bp	4.2 bp −$4	21.6 bp −$216	doesn't fit	doesn't fit
Sell Aevo live order book, 65 min ago	34.18 bp	50.6 bp −$51	doesn't fit	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
Bulk TAO-USD	−0.1821%	1h	318.67	+0.727%	$169K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.65	−0.228%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.83	−0.171%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.37	0.000%	$42K	$598K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.71	−0.209%	$90.5M	$450.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	−0.117%	$25.7M	$108.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.70	−0.212%	$12.8M	$51.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.89	−0.152%	$98.9M	$136.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.11	−0.082%	$17.9M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.55	−0.259%	$35.1M	$51.4M	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	316.43	+0.017%	$40K	$293K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.09	−0.088%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.92	−0.142%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.66	−0.224%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.28	−0.028%	$126K	$422K	20x	as long as short
Bullet TAO-USD	+0.0102%	1h	316.22	−0.046%	$12K	$17K	20x	as long as short
Aevo TAO-PERPshort	+0.0104%	1h	316.17	−0.063%	$174K	$998	3x
Katana Perps TAO-USD	+0.0119%	8h	316.36	−0.003%	$1K	$643K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0101%	1h	315.81	−0.176%	$448K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	315.97	−0.128%	$374K	$376K	10x	as long as short
ApeX Omni TAOUSDT	+0.0185%	1h	316.14	−0.073%	$48K	$267K	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0194%	1h	315.79	−0.183%	$17K	$1.5M	25x	as long as short
Arcus TAO-USD	+0.0201%	1h	316.52	+0.047%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0204%	4h	315.91	−0.145%	$1.2M	$8.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	315.99	−0.120%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0272%	1h	316.47	+0.032%	$93K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.05	−0.101%	$4.4M	$10.7M	100x	as long as short
Phemex TAOUSDT	+0.0347%	4h	316.22	−0.047%	$3.4M	$7.8M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0486%	1h	315.69	−0.216%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	316.60	+0.073%	$331K	$624K	5x	as long as short
Variational Omni TAO	+0.0546%	4h	316.94	+0.181%	$5.5M	$8.7M	—	as long as short
01 Exchange TAOUSD	+0.0560%	1h	316.46	+0.028%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.77	+0.443%	$23K	$802	12x	as long as short
BingX TAO-USDT	+0.0628%	4h	315.91	−0.145%	—	$30.5M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.16	−0.067%	$364	—	20x	as long as short
Bybit TAOUSDT	+0.0738%	4h	315.98	−0.123%	$65.0M	$133.4M	50x	as long as short
Nado TAO-PERP	+0.0759%	1h	316.33	−0.012%	$876K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0804%	1h	315.97	−0.126%	$319K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.15	+0.247%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1120%	1h	315.74	−0.198%	$886K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	316.40	+0.011%	$420K	$593K	5x	as long as short
Lighter TAOlong	+0.1424%	1h	316.37	long leg	$1.7M	$6.1M	5x
Hyperliquid TAO	+0.1812%	1h	316.14	−0.073%	$101.2M	$91.5M	5x	as long as short