Funding you earn now, next payment 22:00 UTC−0.0920%/8h= −100.7% APRnext payment −$1.15 per $10,000 · paid last 24h −0.067%
Price spread now: Deribit against Lighter+0.083%7-day average −0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$290.287% of the position
Funding, last 7 days−0.336%−$34 on $10k
+Price spread, last 3 days (all we have)−0.131%−$13 · spread now +0.083%, 7d avg −0.054%
=Together, before fees−0.467%+ Points / potential airdropLighter: Season 3 · farm board−$47 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.138% dearer against Lighter than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of −0.054%): +$14 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.336% in total) that is about 2.9 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.336% in total (about -17.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.15 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 | 307.51 | 0.0920 | pay 0.0115% / 1h | 22m 25s | $1.7M | $4.8M | 5x |
| Short | Deribit TAO_USDC-PERPETUAL | 307.77 | 0 | get 0.0000% / 1h | 22m 25s | $15K | $1.3M | 25x |
Lighter TAO
Deribit TAO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$193.2
- Price spread: +0.083% → −0.054%
- $13.77
- Slippage, 4 orders
- −$21.73
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$208.16
- Costs to cover
- 0.287%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; Deribit: 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, 5 min ago | 1.62 bp | 5.1 bp −$5 | 24.1 bp −$241 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 2 min ago | 6.33 bp | 9.8 bp −$10 | 17.9 bp −$179 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 306.98 | −0.172% | $129K | $84K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUALshort | 0.0000% | 1h | 307.77 | +0.083% | $15K | $1.3M | 25x | |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0007% | 1h | 307.58 | +0.021% | $26K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 307.31 | −0.067% | $41K | $530K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 307.16 | −0.117% | $363K | $401K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 307.61 | +0.030% | $85.9M | $404.0M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 307.86 | +0.112% | $59.4M | $118.4M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 307.80 | +0.093% | $25.3M | $93.3M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 307.57 | +0.018% | $137K | $598K | 5x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 307.07 | −0.145% | $201K | $57K | 10x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
Bulk TAO-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate TAO_USDT | +0.0100% | 4h | 307.50 | −0.005% | $12.2M | $48.2M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 307.61 | +0.031% | $114.2M | $124.0M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 307.45 | −0.021% | $18.6M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 307.40 | −0.037% | $34.4M | $44.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 307.69 | +0.057% | — | $30.4M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 305.90 | −0.525% | $3.6M | $6.5M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 305.13 | −0.777% | $39K | $276K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.16 | −0.767% | $535K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 304.90 | −0.850% | $46K | $267K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 307.62 | +0.034% | $78K | $675K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 307.59 | +0.025% | $11K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 307.72 | +0.067% | $59K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 307.76 | +0.080% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 307.88 | +0.119% | $121K | $353K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 307.36 | −0.050% | $3.3M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 307.87 | +0.114% | $169K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0112% | 8h | 307.46 | −0.018% | $879 | $438K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0163% | 8h | 307.04 | −0.155% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0166% | 4h | 307.59 | +0.026% | $1.1M | $7.5M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 307.54 | +0.009% | $439K | — | 100x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 307.30 | −0.070% | $325K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0296% | 1h | 307.37 | −0.048% | $843K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 307.69 | +0.057% | $4.3M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0520% | 1h | 307.64 | +0.041% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 307.54 | +0.010% | $354 | — | 20x | as long as short |
| Extended TAO-USD | +0.0704% | 1h | 307.31 | −0.067% | $906K | $2.0M | 25x | as long as short |
| Lighter TAOlong | +0.0920% | 1h | 307.51 | long leg | $1.7M | $4.8M | 5x | |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 308.04 | +0.171% | $1.5M | $5.4M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1024% | 1h | 307.72 | +0.067% | $6.3M | $19.3M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 307.57 | +0.020% | $414K | $537K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1116% | 1h | 307.34 | −0.057% | $444K | $715K | 10x | as long as short |
| Hyperliquid TAO | +0.1741% | 1h | 308.07 | +0.180% | $94.3M | $75.7M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4876% | 1h | 305.96 | −0.506% | $22K | $171 | 12x | as long as short |
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Paradex TAO-USD-PERP
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Backpack TAO_USDC_PERP
Hyperliquid TAO
Injective TAO/USDC PERP