TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0986%/8h= −108.0% APRnext payment −$1.23 per $10,000 · paid last 24h −0.482%

Price spread now: Bulk against RISEx−1.752%7-day average −0.113% · 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−$182as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on RISEx Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.855%−$86 on $10k

Price spread, last 4 days (all we have)+1.548%+$155 · spread now −1.752%, 7d avg −0.113%

Together, before fees+0.693%+$69 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Bulk is 1.640% cheaper against RISEx than usual: you would sell low and buy high (−$164 if the spread goes back to its 7-day average of −0.113%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	319.34	0.0948	pay 0.0118% / 1h	12m 48s	$461K	$649K	5x
Short	Bulk TAO-USD	313.74	−0.0038	pay 0.0005% / 1h	12m 48s	$167K	$333	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against RISEx. 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 RISExbpFee BulkbpOrdersPrice spread, now −1.752%Rate

Funding earned: −$207.08
Price spread: −1.752% → −0.113%: −$163.95
Slippage, 4 orders: −$4.98
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$389.01
Costs to cover: 0.180%
Break-even: never at this rate

Slippage from RISEx: live order book, 36 min ago; Bulk: live order book, 36 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 RISEx live order book, 36 min ago	1.75 bp	4.8 bp −$5	16.5 bp −$165	doesn't fit	doesn't fit
Sell Bulk live order book, 36 min ago	0.32 bp	4.0 bp −$4	4.4 bp −$44	4.5 bp −$445	12.3 bp −$6,155

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	−0.0038%	1h	313.74	−1.752%	$167K	$333	10x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.97	−0.114%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0032%	1h	318.55	−0.247%	$127K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.00	−0.105%	$26.7M	$125.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.60	−0.230%	$14.2M	$51.6M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.95	−0.121%	$17.6M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.62	−0.224%	$35.9M	$57.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.35	−0.310%	$42K	$317K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.22	−0.036%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.01	−0.102%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	318.94	−0.124%	$116K	$565K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.89	−0.140%	$3.2M	$8.1M	50x	as long as short
MEXC TAO_USDT	+0.0104%	4h	319.09	−0.077%	$101.1M	$148.1M	300x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.51	+0.054%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	319.08	−0.080%	$2K	$945K	5x	as long as short
Binance TAOUSDT	+0.0110%	4h	318.96	−0.118%	$91.5M	$513.0M	75x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	319.23	−0.033%	$53K	$291K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0127% / S +0.0142%	1h	318.93	−0.126%	$427K	—	100x	as long as short
Popdex TAOUSDT	+0.0128%	1h	319.40	+0.020%	$54K	$671K	20x	as long as short
Pacifica TAO	+0.0233%	1h	318.99	−0.108%	$364K	$420K	10x	as long as short
Aster TAOUSDT	+0.0271%	4h	318.99	−0.108%	$1.3M	$10.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0278%	8h	319.13	−0.065%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0282%	1h	319.46	+0.038%	$803K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0298%	1h	319.35	+0.004%	$6.0M	$21.6M	50x	as long as short
Bullet TAO-USD	+0.0325%	1h	319.38	+0.014%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0344%	4h	319.43	+0.030%	$3.7M	$11.0M	100x	as long as short
Bybit TAOUSDT	+0.0391%	4h	319.03	−0.096%	$69.8M	$153.7M	50x	as long as short
BingX TAO-USDT	+0.0400%	4h	318.87	−0.146%	—	$33.8M	—	as long as short
GRVT TAO_USDT_Perp	+0.0436%	4h	318.55	−0.245%	$545K	$935K	10x	as long as short
Variational Omni TAO	+0.0467%	4h	317.98	−0.424%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	319.72	+0.120%	$103K	$345K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0500%	1h	319.26	−0.022%	$15K	$1.8M	25x	as long as short
ApeX Omni TAOUSDT	+0.0504%	1h	318.01	−0.415%	$45K	$256K	50x	as long as short
Extended TAO-USD	+0.0504%	1h	318.66	−0.212%	$906K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	318.90	−0.136%	$317K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	319.20	−0.041%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	319.73	+0.124%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0806%	1h	319.16	−0.055%	$93.7M	$109.5M	5x	as long as short
Lighter TAO	+0.0816%	1h	319.31	−0.007%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0839%	1h	319.20	−0.042%	$316K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	319.97	+0.199%	$1.5M	$7.0M	50x	as long as short
RISEx TAO/USDClong	+0.0948%	1h	319.34	long leg	$461K	$649K	5x
Injective TAO/USDC PERP	+0.3711%	1h	322.94	+1.129%	$23K	$2K	12x	as long as short