Funding you earn now, next payment 03:00 UTC+0.0573%/8h= +62.7% APRnext payment +$0.72 per $10,000 · paid last 24h +0.001%
Price spread now: Deribit against Popdex−0.116%7-day average +0.027% · 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−$53as in the Price arb table
costs, in and out, $10k−$390.390% of the position
Funding, last 4 days (all we have)−0.019%−$2 on $10k
+Price spread, last 4 days (all we have)+0.299%+$30 · spread now −0.116%, 7d avg +0.027%
=Funding pays, the price is against you. Deribit is 0.143% cheaper against Popdex than usual: you would sell low and buy high (spread −0.116% now, against its 7-day average of +0.027%). If the spread goes back, that is −$14 on $10k: about 20 hours of funding at the current rate (+$17 a day).
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.019% in total (about -2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.72 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 | Popdex TAOUSDT | 324.52 | 0.0096 | pay 0.0012% / 1h | 33m 36s | $36K | $671K | 20x |
| Short | Deribit TAO_USDC-PERPETUAL | 324.14 | 0.0669 | get 0.0084% / 1h | 33m 36s | $33K | $1.6M | 25x |
Popdex TAOUSDT
Deribit TAO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Popdex. 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
- $120.33
- Price spread: −0.116% → +0.027%
- −$14.32
- Slippage, 4 orders
- −$25.65
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $66.96
- Costs to cover
- 0.390%
- Break-even
- 3.1 days
Slippage from Popdex: live order book, 30 min ago; Deribit: live order book, just now.
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 Popdex live order book, 30 min ago | 2.04 bp | 9.1 bp −$9 | 77.1 bp −$771 | doesn't fit | doesn't fit |
| Sell Deribit live order book, just now | 5.39 bp | 8.9 bp −$9 | 17.4 bp −$174 | 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 | −0.5583% | 1h | 316.49 | −2.474% | $168K | $1K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 323.76 | −0.234% | $129K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 324.11 | −0.127% | $21K | — | 150x | as long as short |
| Popdex TAOUSDTlong | +0.0096% | 1h | 324.52 | long leg | $36K | $671K | 20x | |
| Binance TAOUSDT | +0.0100% | 4h | 324.45 | −0.023% | $94.6M | $476.8M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 324.30 | −0.068% | $26.7M | $119.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 324.00 | −0.160% | $13.3M | $49.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 324.19 | −0.102% | $110.5M | $140.9M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 324.23 | −0.089% | $17.9M | $31.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 324.11 | −0.126% | $36.2M | $54.4M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 322.54 | −0.609% | $36K | $302K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 324.04 | −0.148% | $88K | $789K | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 323.98 | −0.166% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 323.78 | −0.228% | $131K | $481K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 324.25 | −0.083% | $3.5M | $7.8M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 324.67 | +0.046% | $178K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0110% | 4h | 324.12 | −0.123% | $59K | $281K | 10x | as long as short |
| Katana Perps TAO-USD | +0.0117% | 8h | 324.37 | −0.046% | $1K | $765K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0162% / S +0.0106% | 1h | 323.94 | −0.178% | $440K | — | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0242% | 1h | 324.17 | −0.109% | $5.7M | $20.6M | 50x | as long as short |
| GRVT TAO_USDT_Perp | +0.0264% | 4h | 324.65 | +0.041% | $540K | $963K | 10x | as long as short |
| Bullet TAO-USD | +0.0312% | 1h | 324.31 | −0.065% | $12K | $18K | 20x | as long as short |
| Paradex TAO-USD-PERP | +0.0320% | 8h | 324.16 | −0.109% | $15K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 323.97 | −0.169% | $4.6M | $10.9M | 100x | as long as short |
| Aster TAOUSDT | +0.0371% | 4h | 324.42 | −0.031% | $1.2M | $9.6M | 50x | as long as short |
| Pacifica TAO | +0.0448% | 1h | 324.38 | −0.043% | $383K | $396K | 10x | as long as short |
| Phoenix TAO | +0.0504% | 1h | 320.50 | −1.239% | $335K | $707K | 5x | as long as short |
| Arcus TAO-USD | +0.0509% | 1h | 324.66 | +0.043% | $101K | $489K | 5x | as long as short |
| Nado TAO-PERP | +0.0535% | 1h | 324.34 | −0.055% | $793K | $2.2M | 10x | as long as short |
| Bybit TAOUSDT | +0.0607% | 4h | 324.52 | 0.000% | $71.4M | $142.8M | 50x | as long as short |
| BingX TAO-USDT | +0.0608% | 4h | 324.21 | −0.096% | — | $30.2M | — | as long as short |
| Deribit TAO_USDC-PERPETUALshort | +0.0669% | 1h | 324.14 | −0.116% | $33K | $1.6M | 25x | |
| Reya TAORUSDPERP | +0.0696% | 1h | 324.18 | −0.105% | $373 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0776% | 1h | 324.96 | +0.136% | $3K | $4K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0804% | 1h | 322.29 | −0.687% | $47K | $254K | 50x | as long as short |
| Variational Omni TAO | +0.0866% | 4h | 320.39 | −1.272% | $5.9M | $9.7M | — | as long as short |
| Lighter TAO | +0.0896% | 1h | 324.62 | +0.030% | $1.6M | $6.3M | 5x | as long as short |
| Extended TAO-USD | +0.0904% | 1h | 324.21 | −0.097% | $949K | $2.3M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 325.38 | +0.265% | $1.5M | $6.7M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.1063% | 1h | 324.63 | +0.034% | $446K | $860K | 10x | as long as short |
| RISEx TAO/USDC | +0.1159% | 1h | 324.46 | −0.019% | $460K | $628K | 5x | as long as short |
| Hyperliquid TAO | +0.1319% | 1h | 324.62 | +0.031% | $102.0M | $98.8M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4172% | 1h | 323.37 | −0.354% | $24K | $2K | 12x | as long as short |
edgeX TAOUSDC
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Kraken Futures PF_TAOUSD
GRVT TAO_USDT_Perp
Bullet TAO-USD
Paradex TAO-USD-PERP
BloFin TAO-USDT
Aster TAOUSDT
Pacifica TAO
Phoenix TAO
Arcus TAO-USD
Nado TAO-PERP
Bybit TAOUSDT
BingX TAO-USDT
Reya TAORUSDPERP
01 Exchange TAOUSD
ApeX Omni TAOUSDT
Variational Omni TAO
Lighter TAO
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Backpack TAO_USDC_PERP
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP