TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0248%/8h= +27.2% APRnext payment +$0.31 per $10,000 · paid last 24h +0.103%

Price spread now: Coinbase International against Lighter−0.362%7-day average +0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.393%+$39 on $10k

Price spread, last 4 days (all we have)+0.514%+$51 · spread now −0.362%, 7d avg +0.107%

Together, before fees+0.907%+ Points / potential airdropLighter: Season 3 · farm board+$91 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.468% cheaper against Lighter than usual: you would sell low and buy high (spread −0.362% now, against its 7-day average of +0.107%). If the spread goes back, that is −$47 on $10k: about 6.3 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	321.92	0.0480	pay 0.0060% / 1h	10m 26s	$1.7M	$6.8M	5x
Short	Coinbase International TAO-PERP-INTX	320.76	0.0728	get 0.0091% / 1h	10m 26s	$1.1M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.362%Rate

Funding earned: $52.08
Price spread: −0.362% → +0.107%: −$46.82
Slippage, 4 orders: −$27.37
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$32.11
Costs to cover: 0.374%
Break-even: 11.3 days

Slippage from Lighter: live order book, 6 min ago; Coinbase International: live order book, 2 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	0.95 bp	4.8 bp −$5	21.8 bp −$218	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	8.88 bp	13.9 bp −$14	19.8 bp −$198	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	322.29	+0.114%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.24	+0.098%	$60K	$610K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	322.40	+0.148%	$27.7M	$127.2M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	319.24	−0.834%	$169K	$662	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.90	−0.007%	$16.8M	$47.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.06	+0.042%	$17.9M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.27	+0.107%	$36.5M	$52.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.09	−0.880%	$45K	$251K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.36	+0.135%	$68K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	320.07	−0.576%	$2K	$1.7M	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	319.54	−0.741%	$116K	$516K	20x	as long as short
Katana Perps TAO-USD	+0.0101%	8h	322.31	+0.120%	$2K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	322.35	+0.132%	$877K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.64	−0.399%	$176K	$998	3x	as long as short
dYdX TAO-USD	+0.0135%	1h	321.56	−0.113%	$271K	$226K	5x	as long as short
MEXC TAO_USDT	+0.0144%	4h	322.32	+0.123%	$113.8M	$151.9M	300x	as long as short
Binance TAOUSDT	+0.0144%	4h	322.23	+0.095%	$96.1M	$498.9M	75x	as long as short
edgeX TAOUSDC	+0.0145%	4h	319.74	−0.677%	$42K	$324K	10x	as long as short
Bullet TAO-USD	+0.0170%	1h	322.53	+0.188%	$12K	$15K	20x	as long as short
Phemex TAOUSDT	+0.0187%	4h	320.16	−0.548%	$3.2M	$8.3M	50x	as long as short
Pacifica TAO	+0.0223%	1h	322.02	+0.029%	$390K	$449K	10x	as long as short
Paradex TAO-USD-PERP	+0.0231%	8h	322.48	+0.173%	$15K	$769	10x	as long as short
GRVT TAO_USDT_Perp	+0.0240%	4h	320.23	−0.526%	$542K	$782K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0255%	4h	320.31	−0.501%	$54K	$262K	10x	as long as short
Bybit TAOUSDT	+0.0255%	4h	322.22	+0.092%	$71.6M	$151.9M	50x	as long as short
BingX TAO-USDT	+0.0280%	4h	322.62	+0.216%	—	$36.7M	—	as long as short
Nado TAO-PERP	+0.0312%	1h	320.27	−0.515%	$666K	$1.9M	10x	as long as short
Aster TAOUSDT	+0.0330%	4h	322.50	+0.178%	$1.3M	$11.4M	50x	as long as short
BloFin TAO-USDT	+0.0384%	4h	320.42	−0.467%	$4.9M	$9.9M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0390% / S −0.0121%	1h	322.23	+0.094%	$391K	—	100x	as long as short
Lighter TAOlong	+0.0480%	1h	321.92	long leg	$1.7M	$6.8M	5x
Hyperliquid TAO	+0.0485%	1h	322.72	+0.247%	$96.7M	$104.7M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0507%	1h	320.48	−0.449%	$19K	$1.8M	25x	as long as short
Variational Omni TAO	+0.0520%	4h	320.67	−0.391%	$6.6M	$9.8M	—	as long as short
Arcus TAO-USD	+0.0587%	1h	322.52	+0.185%	$102K	$285K	5x	as long as short
Phoenix TAO	+0.0636%	1h	319.70	−0.691%	$321K	$701K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0684%	1h	320.65	−0.396%	$305K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0694%	1h	322.23	+0.094%	$431K	$652K	5x	as long as short
Reya TAORUSDPERP	+0.0700%	1h	322.44	+0.162%	$371	—	20x	as long as short
01 Exchange TAOUSD	+0.0712%	1h	322.74	+0.253%	$3K	$2K	5x	as long as short
Coinbase International TAO-PERP-INTXshort	+0.0728%	1h	320.76	−0.362%	$1.1M	$7.3M	50x
Kraken Futures PF_TAOUSD	+0.0843%	1h	320.53	−0.432%	$6.4M	$19.2M	50x	as long as short
Injective TAO/USDC PERP	+0.4136%	1h	322.02	+0.030%	$23K	$2K	12x	as long as short