TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h +0.065%

Price spread now: Reya against Lighter−0.104%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Reya is 0.104% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	317.71	0.0736	pay 0.0092% / 1h	10m 42s	$1.6M	$6.4M	5x
Short	Reya TAORUSDPERP	317.38	0.0696	get 0.0087% / 1h	10m 42s	$365	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.104%Rate

Funding earned: −$8.34
Price spread: −0.104% → 0.000%: −$10.45
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$24.79
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 7 min ago; Reya: 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, 7 min ago	2.13 bp	5.8 bp −$6	21.9 bp −$219	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.1916%	1h	325.17	+2.349%	$172K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.64	−0.023%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.53	−0.056%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.36	−0.110%	$40K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.62	−0.028%	$92.4M	$489.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.20	−0.160%	$26.2M	$120.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.10	+0.123%	$13.0M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.26	−0.141%	$102.0M	$143.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.30	−0.128%	$17.7M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.23	−0.150%	$35.4M	$55.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.42	−0.405%	$35K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.35	−0.113%	$87K	$795K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.53	−0.056%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.20	−0.160%	$128K	$482K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.41	−0.093%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	316.90	−0.254%	$674	$776K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	317.75	+0.013%	$57K	$282K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0157% / S +0.0112%	1h	317.49	−0.070%	$430K	—	100x	as long as short
Bullet TAO-USD	+0.0189%	1h	317.40	−0.097%	$13K	$18K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0192%	4h	315.38	−0.733%	$523K	$951K	10x	as long as short
Phemex TAOUSDT	+0.0204%	4h	317.76	+0.016%	$3.4M	$7.9M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0247%	1h	317.84	+0.041%	$5.6M	$20.8M	50x	as long as short
Paradex TAO-USD-PERP	+0.0253%	8h	317.45	−0.080%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0289%	4h	318.16	+0.143%	$1.2M	$10.0M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0317%	1h	318.03	+0.102%	$15K	$1.6M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	317.43	−0.088%	$3.9M	$11.3M	100x	as long as short
ApeX Omni TAOUSDT	+0.0371%	1h	316.95	−0.239%	$47K	$253K	50x	as long as short
Bybit TAOUSDT	+0.0410%	4h	317.40	−0.097%	$69.5M	$146.1M	50x	as long as short
Pacifica TAO	+0.0448%	1h	317.59	−0.037%	$375K	$405K	10x	as long as short
BingX TAO-USDT	+0.0448%	4h	318.34	+0.199%	—	$30.4M	—	as long as short
Phoenix TAO	+0.0504%	1h	315.80	−0.601%	$330K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	317.72	+0.004%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0613%	1h	317.48	−0.071%	$795K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0680%	1h	318.20	+0.156%	$932K	$2.4M	25x	as long as short
Reya TAORUSDPERPshort	+0.0696%	1h	317.38	−0.104%	$365	—	20x
01 Exchange TAOUSD	+0.0704%	1h	317.43	−0.088%	$3K	$4K	5x	as long as short
Lighter TAOlong	+0.0736%	1h	317.71	long leg	$1.6M	$6.4M	5x
Variational Omni TAO	+0.0799%	4h	316.62	−0.341%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0895%	1h	318.28	+0.180%	$317K	$923K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	316.66	−0.330%	$1.5M	$6.8M	50x	as long as short
Hyperliquid TAO	+0.1050%	1h	317.93	+0.070%	$96.3M	$104.6M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	317.50	−0.065%	$446K	$657K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.231%	$23K	$2K	12x	as long as short