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Funding arb · Price arb /

TAO

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC−0.1384%/8h= −151.5% APRnext payment −$1.73 per $10,000 · paid last 24h −0.082%
Price spread now: dYdX against Lighter−0.114%7-day average −0.116% · you buy dearer than you sell
Net, funding: paid 7d − costs−$110as in the Funding arb table
Net, price: spread back to 7d avg − costs−$102as in the Price arb table
costs, in and out, $10k−$1021.023% of the position
Long on LighterShort on dYdX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.079%−$8 on $10k
Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.114%, 7d avg −0.116%
Together, before fees−0.099%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.116%, so right now this pair is about funding alone: −$42 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.079% in total (about -4.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.73 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter TAO318.940.1384pay 0.0173% / 1h3m 18s$1.7M$6.1M5x
ShortdYdX TAO-USD318.580get 0.0000% / 1h3m 18s$127K$84K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

dYdX 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

Funding earned
−$290.64
Price spread: −0.114% → −0.116%
$0.22
Slippage, 4 orders
−$92.34
Fee Lighter: 0 bp × 2 orders
$0
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$392.76
Costs to cover
1.023%
Break-even
never at this rate
Slippage from Lighter: live order book, 5 min ago; dYdX: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 5 min ago3.89 bp4.2 bp −$424.9 bp −$249doesn't fitdoesn't fit
Sell dYdX live order book, 1 min ago38.70 bp43.7 bp −$4458.9 bp −$589210.2 bp −$21.0K437.5 bp −$218.8K

TAO on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.0185%1h315.28−1.148%$167K$40K10xas long as short
dYdX TAO-USDshort0.0000%1h318.58−0.114%$127K$84K5x
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h318.10−0.264%$10K—150xas long as short
Popdex TAOUSDT+0.0096%1h318.88−0.019%$44K$645K20xas long as short
Binance TAOUSDT+0.0100%4h318.37−0.178%$91.8M$466.6M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h318.50−0.139%$26.4M$115.0M50xas long as short
Gate TAO_USDT+0.0100%4h318.20−0.233%$13.0M$51.0M50xas long as short
MEXC TAO_USDT+0.0100%4h318.25−0.217%$114.9M$140.7M300xas long as short
KuCoin TAOUSDTM+0.0100%4h318.90−0.013%$18.2M$30.4M75xas long as short
Bitget TAOUSDT+0.0100%4h318.14−0.251%$35.5M$53.4M50xas long as short
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX TAOUSDC+0.0100%4h316.38−0.804%$36K$300K10xas long as short
Polymarket Perps TAO-USD+0.0100%1h318.90−0.013%$77K$713K5xas long as short
Orderly PERP_TAO_USDC+0.0100%4h318.45−0.154%$58K$282K10xas long as short
SunX TAO-USDT+0.0100%4h316.81−0.668%$1K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h317.22−0.540%$130K$471K20xas long as short
Phemex TAOUSDT+0.0100%4h317.29−0.518%$3.4M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h318.66−0.088%$175K$9983xas long as short
Katana Perps TAO-USD+0.0115%8h318.76−0.057%$2K$727K5xas long as short
ApeX Omni TAOUSDT+0.0149%1h316.28−0.835%$47K$253K50xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0166% / S +0.0103%1h317.96−0.308%$433K—100xas long as short
Kraken Futures PF_TAOUSD+0.0167%1h317.16−0.557%$5.6M$20.5M50xas long as short
GRVT TAO_USDT_Perp+0.0192%4h316.84−0.659%$527K$957K10xas long as short
Bullet TAO-USD+0.0230%1h318.27−0.211%$12K$18K20xas long as short
Aster TAOUSDT+0.0273%4h318.33−0.193%$1.2M$9.3M50xas long as short
Pacifica TAO+0.0285%1h318.87−0.021%$371K$396K10xas long as short
Arcus TAO-USD+0.0337%1h319.08+0.043%$100K$489K5xas long as short
Paradex TAO-USD-PERP+0.0363%8h318.79−0.047%$14K$1K10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0410%1h317.08−0.584%$15K$1.6M25xas long as short
Injective TAO/USDC PERP+0.0470%1h321.23+0.717%$23K$2K12xas long as short
Nado TAO-PERP+0.0521%1h318.73−0.066%$761K$2.1M10xas long as short
Phoenix TAO+0.0588%1h317.40−0.483%$333K$681K5xas long as short
01 Exchange TAOUSD+0.0656%1h319.20+0.081%$3K$4K5xas long as short
Reya TAORUSDPERP+0.0696%1h318.37−0.179%$366—20xas long as short
Bybit TAOUSDT+0.0739%4h318.68−0.082%$67.6M$138.1M50xas long as short
BingX TAO-USDT+0.0768%4h318.22−0.226%—$30.9M—as long as short
Variational Omni TAO+0.0857%4h316.54−0.753%$6.1M$9.5M—as long as short
Extended TAO-USD+0.0904%1h318.72−0.069%$906K$2.3M25xas long as short
Backpack TAO_USDC_PERP+0.0923%1h317.81−0.355%$321K$807K10xas long as short
Coinbase International TAO-PERP-INTX+0.1024%1h317.87−0.336%$1.5M$6.4M50xas long as short
RISEx TAO/USDC+0.1132%1h318.91−0.010%$450K$625K5xas long as short
Hyperliquid TAO+0.1350%1h318.78−0.051%$100.3M$97.2M5xas long as short
Lighter TAOlong+0.1384%1h318.94long leg$1.7M$6.1M5x