TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1232%/8h= −134.9% APRnext payment −$1.54 per $10,000 · paid last 24h −0.263%

Price spread now: Bulk against Polymarket Perps−1.917%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$207as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on Polymarket Perps Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.289%−$29 on $10k

Price spread, last 3 days (all we have)+1.656%+$166 · spread now −1.917%, 7d avg −0.062%

Together, before fees+1.367%+$137 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Bulk is 1.855% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$186 if the spread goes back to its 7-day average of −0.062%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.289% in total (about -31.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.54 per $10,000. 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	Polymarket Perps TAO-USD	311.92	0.0112	pay 0.0014% / 1h	54m 23s	$76K	$539K	5x
Short	Bulk TAO-USD	305.94	−0.1120	pay 0.0140% / 1h	54m 23s	$164K	$52K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Polymarket Perps. 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 Polymarket PerpsbpFee BulkbpOrdersPrice spread, now −1.917%Rate

Funding earned: −$258.81
Price spread: −1.917% → −0.062%: −$185.53
Slippage, 4 orders: −$6.6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$465.93
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 23 min ago; Bulk: live order book, 24 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 Polymarket Perps live order book, 23 min ago	2.78 bp	6.8 bp −$7	7.9 bp −$79	doesn't fit	doesn't fit
Sell Bulk live order book, 24 min ago	0.17 bp	3.9 bp −$4	4.0 bp −$40	4.0 bp −$399	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-USDshort	−0.1120%	1h	305.94	−1.917%	$164K	$52K	10x
dYdX TAO-USD	0.0000%	1h	313.05	+0.362%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.74	−0.057%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	308.73	−1.023%	$22K	$259	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.77	−0.048%	$40K	$555K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.43	+0.484%	$370K	$370K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.99	+0.022%	$88.3M	$420.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.08	+0.051%	$60.8M	$123.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.90	−0.006%	$25.0M	$99.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.70	−0.071%	$12.5M	$48.5M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	311.83	−0.029%	$119.2M	$125.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.78	−0.045%	$19.0M	$27.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.61	−0.099%	$34.8M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.92	0.000%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.12	+0.704%	$41K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.40	+0.796%	$520K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	311.85	−0.022%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.93	+0.644%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.18	+0.725%	$128K	$389K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.69	+0.567%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.12	+0.707%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	311.59	−0.106%	$824	$528K	5x	as long as short
Bullet TAO-USD	+0.0112%	1h	312.00	+0.025%	$11K	$17K	20x	as long as short
Polymarket Perps TAO-USDlong	+0.0112%	1h	311.92	long leg	$76K	$539K	5x
Variational Omni TAO	+0.0177%	4h	314.40	+0.796%	$3.9M	$6.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0186%	8h	313.07	+0.370%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0186%	1h	312.22	+0.096%	$81K	$644K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0211%	1h	314.05	+0.684%	$19K	$1.4M	25x	as long as short
Aster TAOUSDT	+0.0214%	4h	311.96	+0.014%	$1.1M	$7.8M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.05	+0.683%	$4.3M	$9.8M	100x	as long as short
ApeX Omni TAOUSDT	+0.0361%	1h	314.07	+0.689%	$47K	$269K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0447%	1h	314.06	+0.688%	$5.8M	$19.7M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0474% / S −0.0175%	1h	311.67	−0.080%	$447K	—	100x	as long as short
Phoenix TAO	+0.0521%	1h	313.80	+0.603%	$328K	$521K	5x	as long as short
Nado TAO-PERP	+0.0619%	1h	311.90	−0.007%	$835K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0644%	1h	314.18	+0.725%	$301K	$798K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.77	−0.049%	$359	—	20x	as long as short
Extended TAO-USD	+0.0776%	1h	311.80	−0.037%	$864K	$2.1M	25x	as long as short
01 Exchange TAOUSD	+0.0936%	1h	312.29	+0.119%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.52	+0.834%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	311.89	−0.010%	$429K	$536K	5x	as long as short
Lighter TAO	+0.1384%	1h	313.69	+0.567%	$1.6M	$5.7M	5x	as long as short
Hyperliquid TAO	+0.2314%	1h	312.47	+0.176%	$97.8M	$82.6M	5x	as long as short