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: Lighter against Pacifica+0.032%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

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

Long on Pacifica Short on Lighter

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)+0.013%+$1 · spread now +0.032%, 7d avg +0.066%

Together, before fees+0.179%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.034% cheaper against Pacifica than usual: you would sell low and buy high (spread +0.032% now, against its 7-day average of +0.066%). If the spread goes back, that is −$3 on $10k: about 4.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.166% in total) that is about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TAO	314.67	0.0365	pay 0.0046% / 1h	48m 04s	$361K	$409K	10x
Short	Lighter TAO	314.77	0.0392	get 0.0049% / 1h	48m 04s	$1.5M	$6.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Pacifica. 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 PacificabpFee LighterbpOrdersPrice spread, now +0.032%Rate

Funding earned: $5.75
Price spread: +0.032% → +0.066%: −$3.42
Slippage, 4 orders: −$25.75
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$31.43
Costs to cover: 0.338%
Break-even: 45.3 days

Slippage from Pacifica: live order book, 10 min ago; Lighter: live order book, 5 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 Pacifica live order book, 10 min ago	3.49 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	2.10 bp	2.7 bp −$3	18.9 bp −$189	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	+0.152%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.34	−0.104%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.52	−0.048%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0057%	1h	314.40	−0.086%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.10	+0.136%	$42K	$685K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.55	−0.039%	$90.7M	$489.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	+0.041%	$25.9M	$119.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.30	−0.118%	$12.9M	$49.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.40	−0.086%	$104.8M	$142.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.38	−0.093%	$17.5M	$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	314.77	+0.031%	$35.2M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	316.19	+0.481%	$35K	$303K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.46	−0.067%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.77	+0.031%	$89K	$789K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.79	+0.037%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.33	−0.109%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.48	−0.061%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.36	−0.099%	$3.2M	$8.2M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.57	−0.034%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	314.70	+0.009%	$2K	$784K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0122%	4h	316.28	+0.510%	$527K	$952K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.63	−0.013%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0153% / S +0.0116%	1h	314.51	−0.051%	$427K	—	100x	as long as short
Bybit TAOUSDT	+0.0171%	4h	314.67	−0.001%	$68.6M	$146.2M	50x	as long as short
01 Exchange TAOUSD	+0.0184%	1h	315.08	+0.130%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0197%	8h	314.59	−0.025%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0210%	4h	314.67	−0.002%	$1.2M	$10.1M	50x	as long as short
Hyperliquid TAO	+0.0232%	1h	315.17	+0.158%	$94.1M	$104.8M	5x	as long as short
Nado TAO-PERP	+0.0235%	1h	314.89	+0.069%	$816K	$2.2M	10x	as long as short
BingX TAO-USDT	+0.0244%	4h	314.89	+0.069%	—	$30.1M	—	as long as short
Backpack TAO_USDC_PERP	+0.0290%	1h	314.95	+0.088%	$315K	$910K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0340%	1h	314.54	−0.041%	$12K	$1.6M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.22	−0.144%	$4.5M	$10.8M	100x	as long as short
Extended TAO-USD	+0.0344%	1h	314.38	−0.093%	$922K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.12	+0.142%	$99K	$488K	5x	as long as short
Pacifica TAOlong	+0.0365%	1h	314.67	long leg	$361K	$409K	10x
Lighter TAOshort	+0.0392%	1h	314.77	+0.032%	$1.5M	$6.4M	5x
Phoenix TAO	+0.0581%	1h	314.50	−0.055%	$313K	$697K	5x	as long as short
Variational Omni TAO	+0.0651%	4h	314.33	−0.109%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.75	+0.026%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.18	+0.163%	$434K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.77	+0.349%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.569%	$23K	$2K	12x	as long as short