TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0212%/8h= −23.2% APRnext payment −$0.27 per $10,000 · paid last 24h −0.436%

Price spread now: Bulk against Lighter−0.158%7-day average −0.169% · 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−$19as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on Lighter Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.563%−$56 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.158%, 7d avg −0.169%

Together, before fees−0.623%+ Points / potential airdropLighter: Season 3 · farm board−$62 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.169%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	315.30	0.0312	pay 0.0039% / 1h	57m 15s	$1.5M	$6.4M	5x
Short	Bulk TAO-USD	314.80	0.0100	get 0.0013% / 1h	57m 15s	$167K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.158%Rate

Funding earned: −$44.52
Price spread: −0.158% → −0.169%: $1.1
Slippage, 4 orders: −$13.02
Fee Lighter: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$63.44
Costs to cover: 0.200%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Bulk: live order book, 62 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, 6 min ago	1.58 bp	6.3 bp −$6	15.8 bp −$158	doesn't fit	doesn't fit
Sell Bulk live order book, 62 min ago	0.16 bp	4.8 bp −$5	9.4 bp −$94	21.9 bp −$2,186	33.1 bp −$16.6K

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
Kraken Futures PF_TAOUSD	−0.0346%	1h	313.60	−0.537%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	314.80	−0.158%	$126K	$85K	5x	as long as short
Gate TAO_USDT	+0.0004%	4h	314.00	−0.412%	$13.0M	$49.2M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.91	−0.440%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.45	−0.269%	$43K	$655K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.12	−0.374%	$2K	$801K	5x	as long as short
Hyperliquid TAO	+0.0100%	1h	314.56	−0.233%	$92.5M	$106.7M	5x	as long as short
Pacifica TAO	+0.0100%	1h	315.02	−0.088%	$359K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.21	−0.345%	$90.8M	$495.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.10	−0.380%	$67.7M	$149.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TAO-USDT-SWAP	+0.0100%	8h	313.80	−0.475%	$26.0M	$120.2M	50x	as long as short
Bulk TAO-USDshort	+0.0100%	1h	314.80	−0.158%	$167K	$2K	10x
MEXC TAO_USDT	+0.0100%	4h	314.40	−0.285%	$100.9M	$143.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.27	−0.326%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.33	−0.624%	$35.0M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.10	−0.380%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.93	−0.117%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.82	−0.153%	$534K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.03	−0.085%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.33	−0.307%	$77K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.25	−0.334%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.15	−0.364%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.41	−0.282%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.75	+0.143%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.96	−0.425%	$172K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0122%	1h	313.65	−0.524%	$22K	$1.7M	25x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	313.87	−0.453%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	313.90	−0.444%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0146%	8h	314.85	−0.143%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0151%	4h	314.57	−0.230%	$1.2M	$10.4M	50x	as long as short
Nado TAO-PERP	+0.0161%	1h	314.50	−0.253%	$799K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0200%	1h	313.58	−0.544%	$918K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	314.72	−0.184%	$101K	$440K	5x	as long as short
Lighter TAOlong	+0.0312%	1h	315.30	long leg	$1.5M	$6.4M	5x
01 Exchange TAOUSD	+0.0320%	1h	314.42	−0.279%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.69	−0.193%	$4.5M	$10.9M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0346%	1h	315.87	+0.181%	$314K	$914K	10x	as long as short
Variational Omni TAO	+0.0396%	4h	315.16	−0.044%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.064%	$314K	$695K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.37	−0.294%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	314.37	−0.293%	$435K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	315.26	−0.012%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+0.752%	$23K	$2K	12x	as long as short