TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0216%/8h= +23.7% APRnext payment +$0.27 per $10,000 · paid last 24h +0.148%

Price spread now: Lighter against Popdex−0.236%7-day average +0.073% · 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−$61as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Popdex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.242%+$24 on $10k

Price spread, last 4 days (all we have)+0.213%+$21 · spread now −0.236%, 7d avg +0.073%

Together, before fees+0.455%+ Points / potential airdropLighter: Season 3 · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.309% cheaper against Popdex than usual: you would sell low and buy high (spread −0.236% now, against its 7-day average of +0.073%). If the spread goes back, that is −$31 on $10k: about 4.8 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	313.11	0.0096	pay 0.0012% / 1h	49m 37s	$54K	$632K	20x
Short	Lighter TAO	312.37	0.0312	get 0.0039% / 1h	49m 37s	$1.6M	$6.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Popdex. 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 PopdexbpFee LighterbpOrdersPrice spread, now −0.236%Rate

Funding earned: $45.36
Price spread: −0.236% → +0.073%: −$30.91
Slippage, 4 orders: −$24.06
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.01
Costs to cover: 0.305%
Break-even: 9.5 days

Slippage from Popdex: live order book, 57 min ago; Lighter: live order book, 7 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 Popdex live order book, 57 min ago	1.11 bp	9.4 bp −$9	56.3 bp −$563	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	1.34 bp	4.6 bp −$5	20.7 bp −$207	doesn't fit	doesn't fit

TAO on 43 exchanges

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	312.59	−0.165%	$19K	—	150x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	313.11	long leg	$54K	$632K	20x
OKX TAO-USDT-SWAP	+0.0100%	8h	312.40	−0.227%	$26.7M	$125.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.30	−0.259%	$16.0M	$46.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.26	−0.271%	$17.2M	$31.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.33	−0.249%	$35.3M	$54.2M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.73	+0.198%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.69	−0.134%	$68K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.56	−0.176%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.03	−0.345%	$113K	$550K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0102%	8h	312.82	−0.093%	$2K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	312.51	−0.193%	$922K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0120%	1h	312.76	−0.111%	$172K	$998	3x	as long as short
MEXC TAO_USDT	+0.0166%	4h	312.28	−0.265%	$111.2M	$147.0M	300x	as long as short
Binance TAOUSDT	+0.0167%	4h	312.35	−0.242%	$92.7M	$506.6M	75x	as long as short
edgeX TAOUSDC	+0.0170%	4h	313.80	+0.221%	$41K	$324K	10x	as long as short
Pacifica TAO	+0.0223%	1h	312.27	−0.268%	$379K	$455K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0278%	4h	313.81	+0.224%	$534K	$786K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0281%	4h	312.39	−0.230%	$52K	$262K	10x	as long as short
Paradex TAO-USD-PERP	+0.0300%	8h	312.38	−0.233%	$14K	$769	10x	as long as short
Lighter TAOshort	+0.0312%	1h	312.37	−0.236%	$1.6M	$6.7M	5x
Aster TAOUSDT	+0.0349%	4h	312.32	−0.252%	$1.2M	$11.4M	50x	as long as short
Bullet TAO-USD	+0.0363%	1h	312.91	−0.063%	$12K	$16K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0371% / S −0.0114%	1h	312.53	−0.184%	$376K	—	100x	as long as short
BingX TAO-USDT	+0.0372%	4h	312.55	−0.179%	—	$37.8M	—	as long as short
Bybit TAOUSDT	+0.0387%	4h	312.42	−0.220%	$69.1M	$154.4M	50x	as long as short
BloFin TAO-USDT	+0.0412%	4h	312.14	−0.310%	$4.9M	$10.4M	100x	as long as short
Phemex TAOUSDT	+0.0448%	4h	312.44	−0.214%	$3.1M	$8.3M	50x	as long as short
dYdX TAO-USD	+0.0487%	1h	312.02	−0.349%	$263K	$230K	5x	as long as short
Nado TAO-PERP	+0.0550%	1h	312.60	−0.162%	$650K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.0572%	1h	312.32	−0.252%	$93.4M	$105.3M	5x	as long as short
Arcus TAO-USD	+0.0587%	1h	312.84	−0.086%	$99K	$285K	5x	as long as short
Variational Omni TAO	+0.0603%	4h	312.01	−0.351%	$6.2M	$10.1M	—	as long as short
Phoenix TAO	+0.0636%	1h	313.20	+0.029%	$315K	$701K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0651%	1h	312.54	−0.183%	$24K	$1.9M	25x	as long as short
RISEx TAO/USDC	+0.0694%	1h	312.73	−0.121%	$436K	$663K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	312.78	−0.106%	$360	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0728%	1h	312.55	−0.179%	$1.1M	$7.4M	50x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	313.17	+0.019%	$3K	$2K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0865%	1h	312.40	−0.226%	$6.2M	$19.6M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0897%	1h	312.49	−0.198%	$297K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.1436%	1h	313.89	+0.249%	$166K	$662	10x	as long as short
Injective TAO/USDC PERP	+0.4136%	1h	317.23	+1.316%	$23K	$2K	12x	as long as short