Funding you earn now, next payment 01:00 UTC−0.1369%/8h= −149.9% APRpaid last 24h −0.079%
Price spread now: Katana Perps against Lighter+0.086%7-day average −0.046% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.013%−$1 on $10k
+Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.086%, 7d avg −0.046%
=Together, before fees−0.149%+ Points / potential airdropLighter: Season 3 · farm board−$15 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Katana Perps is 0.132% dearer against Lighter than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of −0.046%): +$13 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 4 days (−0.013% in total) that is about 38 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.013% in total (about -1.3% a year). A funding rate is set anew for every payment. 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 | 320.15 | 0.1488 | pay 0.0186% / 1h | 34m 10s | $1.7M | $6.0M | 5x |
| Short | Katana Perps TAO-USD | 320.43 | 0.0119 | get 0.0119% / 8h | 7h 34m | $2K | $616K | 5x |
Lighter TAO
Katana Perps TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps 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
- −$287.51
- Price spread: +0.086% → −0.046%
- $13.21
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$278.1
- Costs to cover
- 0.038%
- Break-even
- from the start
Slippage unknown: Lighter: live order book, 4 min ago; Katana Perps: no order-book sample. Net counts fees only.
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 | 0.61 bp | 7.6 bp −$8 | 30.6 bp −$306 | doesn't fit | doesn't fit |
| Sell Katana Perps no order-book sample | — | — | — | — | — |
Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1322% | 1h | 319.84 | −0.098% | $170K | $44K | 10x | as long as short |
| Phemex TAOUSDT | −0.1078% | 4h | 319.49 | −0.208% | $3.4M | $7.9M | 50x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 320.67 | +0.161% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.34 | −0.254% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 320.41 | +0.080% | $42K | $587K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 319.42 | −0.229% | $92.0M | $446.1M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.70 | −0.142% | $26.2M | $108.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 319.50 | −0.205% | $13.0M | $50.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 319.90 | −0.080% | $108.2M | $134.2M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.56 | −0.186% | $18.2M | $29.1M | 75x | as long as short |
Bulk TAO-USD
Phemex TAOUSDT
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTMShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 319.33 | −0.258% | $35.6M | $50.3M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 318.20 | −0.610% | $40K | $292K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 316.52 | −1.135% | $524K | $960K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 319.55 | −0.189% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.38 | −0.242% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.62 | −0.167% | $128K | $424K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.80 | −0.111% | $176K | $998 | 3x | as long as short |
| Katana Perps TAO-USDshort | +0.0119% | 8h | 320.43 | +0.086% | $2K | $616K | 5x | |
| Deribit TAO_USDC-PERPETUAL | +0.0135% | 1h | 319.58 | −0.179% | $18K | $1.6M | 25x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0173% / S +0.0089% | 1h | 319.27 | −0.278% | $466K | — | 100x | as long as short |
| Bullet TAO-USD | +0.0177% | 1h | 319.84 | −0.098% | $12K | $18K | 20x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 321.07 | +0.286% | $380K | $374K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 321.48 | +0.414% | $85K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0237% | 4h | 319.61 | −0.171% | $1.1M | $8.3M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0243% | 8h | 321.22 | +0.333% | $15K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 319.99 | −0.052% | $4.5M | $10.9M | 100x | as long as short |
| ApeX Omni TAOUSDT | +0.0344% | 1h | 319.23 | −0.289% | $48K | $266K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0349% | 1h | 320.24 | +0.027% | $94K | $638K | 5x | as long as short |
| Variational Omni TAO | +0.0398% | 4h | 320.33 | +0.053% | $5.6M | $8.7M | — | as long as short |
| BingX TAO-USDT | +0.0428% | 4h | 319.75 | −0.127% | — | $30.5M | — | as long as short |
| Bybit TAOUSDT | +0.0450% | 4h | 319.60 | −0.173% | $65.6M | $132.9M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0479% | 1h | 319.72 | −0.136% | $5.8M | $20.3M | 50x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 317.50 | −0.829% | $332K | $624K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 319.79 | −0.114% | $23K | $666 | 12x | as long as short |
| 01 Exchange TAOUSD | +0.0672% | 1h | 321.22 | +0.333% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 319.63 | −0.164% | $368 | — | 20x | as long as short |
| Nado TAO-PERP | +0.0757% | 1h | 319.71 | −0.140% | $893K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0899% | 1h | 319.89 | −0.083% | $323K | $819K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 320.73 | +0.180% | $1.5M | $6.3M | 50x | as long as short |
| Extended TAO-USD | +0.1136% | 1h | 319.71 | −0.138% | $936K | $2.2M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 321.13 | +0.305% | $427K | $600K | 5x | as long as short |
| Lighter TAOlong | +0.1488% | 1h | 320.15 | long leg | $1.7M | $6.0M | 5x | |
| Hyperliquid TAO | +0.2345% | 1h | 319.94 | −0.067% | $103.4M | $90.7M | 5x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Deribit TAO_USDC-PERPETUAL
GMX TAO/USD [WBTC.b-USDC]
Bullet TAO-USD
Pacifica TAO
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
BloFin TAO-USDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Variational Omni TAO
BingX TAO-USDT
Bybit TAOUSDT
Kraken Futures PF_TAOUSD
Phoenix TAO
Injective TAO/USDC PERP
01 Exchange TAOUSD
Reya TAORUSDPERP
Nado TAO-PERP
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Hyperliquid TAO