TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0027%/8h= −3.0% APRnext payment −$0.03 per $10,000 · paid last 24h −0.111%

Price spread now: Pacifica against Lighter−0.020%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now −0.020%, 7d avg −0.066%

Together, before fees−0.191%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.046% dearer against Lighter than usual: you sell high and buy low (spread −0.020% now, against its 7-day average of −0.066%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.6 days. At the pace of the last 7 days (−0.166% in total) that is about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	315.74	0.0392	pay 0.0049% / 1h	47m 24s	$1.5M	$6.4M	5x
Short	Pacifica TAO	315.68	0.0365	get 0.0046% / 1h	47m 24s	$362K	$409K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.020%Rate

Funding earned: −$5.75
Price spread: −0.020% → −0.066%: $4.59
Slippage, 4 orders: −$25.75
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$34.9
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Pacifica: live order book, 11 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	2.10 bp	10.6 bp −$11	24.7 bp −$247	doesn't fit	doesn't fit
Sell Pacifica live order book, 11 min ago	3.49 bp	11.6 bp −$12	doesn't fit	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
Bulk TAO-USD	−0.0499%	1h	315.15	−0.188%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.21	−0.168%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.81	+0.022%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.40	−0.425%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.10	+0.113%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.92	+0.056%	$91.1M	$489.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.80	+0.018%	$26.0M	$119.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.70	−0.014%	$12.9M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.10	+0.113%	$105.5M	$142.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.03	+0.091%	$17.6M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.66	−0.026%	$35.3M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.23	−0.479%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.21	−0.486%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.09	+0.110%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	316.03	+0.091%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.33	−0.448%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.48	−0.400%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.36	−0.438%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.69	−0.015%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	315.75	+0.002%	$2K	$784K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0106%	4h	314.83	−0.288%	$524K	$944K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	315.60	−0.045%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.75	+0.004%	$428K	—	100x	as long as short
Bybit TAOUSDT	+0.0159%	4h	316.00	+0.081%	$68.8M	$146.3M	50x	as long as short
01 Exchange TAOUSD	+0.0192%	1h	316.46	+0.227%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0196%	8h	315.71	−0.009%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0196%	4h	315.89	+0.047%	—	$30.1M	—	as long as short
Nado TAO-PERP	+0.0197%	1h	316.00	+0.082%	$808K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0214%	4h	316.10	+0.112%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0236%	1h	316.33	+0.186%	$94.4M	$104.8M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0290%	1h	314.95	−0.251%	$315K	$910K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0340%	1h	314.54	−0.380%	$12K	$1.6M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.22	−0.482%	$4.5M	$10.8M	100x	as long as short
Extended TAO-USD	+0.0344%	1h	316.29	+0.174%	$922K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0345%	1h	316.47	+0.230%	$100K	$488K	5x	as long as short
Pacifica TAOshort	+0.0365%	1h	315.68	−0.020%	$362K	$409K	10x
Lighter TAOlong	+0.0392%	1h	315.74	long leg	$1.5M	$6.4M	5x
Phoenix TAO	+0.0581%	1h	314.50	−0.394%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0651%	4h	314.33	−0.448%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.16	+0.132%	$364	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	316.39	+0.205%	$437K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.77	+0.009%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.225%	$23K	$2K	12x	as long as short