TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1142%/8h= −125.1% APRnext payment −$1.43 per $10,000 · paid last 24h −0.060%

Price spread now: dYdX against RISEx−0.081%7-day average −0.056% · 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−$94as in the Price arb table

costs, in and out, $10k−$920.916% of the position

Long on RISEx Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.247%−$25 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now −0.081%, 7d avg −0.056%

Together, before fees−0.368%−$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and dYdX is 0.025% cheaper against RISEx than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.247% in total (about -26.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.43 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	RISEx TAO/USDC	307.43	0.1155	pay 0.0144% / 1h	6m 29s	$419K	$533K	5x
Short	dYdX TAO-USD	307.18	0.0012	get 0.0002% / 1h	6m 29s	$126K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$239.91
Price spread: −0.081% → −0.056%: −$2.47
Slippage, 4 orders: −$75.63
Fee RISEx: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$334
Costs to cover: 0.916%
Break-even: never at this rate

Slippage from RISEx: live order book, 12 min ago; dYdX: live order book, 12 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, 12 min ago	1.30 bp	4.3 bp −$4	22.2 bp −$222	doesn't fit	doesn't fit
Sell dYdX live order book, 12 min ago	36.40 bp	41.5 bp −$42	64.9 bp −$649	185.3 bp −$18.5K	1078.0 bp −$539.0K

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	−0.0396%	1h	305.88	−0.505%	$163K	$52K	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	306.84	−0.192%	$20K	—	150x	as long as short
dYdX TAO-USDshort	+0.0012%	1h	307.18	−0.081%	$126K	$85K	5x
Popdex TAOUSDT	+0.0096%	1h	307.34	−0.029%	$45K	$541K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.29	−0.043%	$86.2M	$414.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.38	−0.016%	$59.8M	$121.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.30	−0.042%	$24.7M	$96.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.58	+0.049%	$80K	$643K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	307.20	−0.074%	$12.3M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.34	−0.029%	$114.9M	$126.2M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	307.36	−0.022%	$18.5M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.17	−0.084%	$34.2M	$45.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.37	−0.019%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.62	−0.264%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.22	−0.069%	$508K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	306.60	−0.269%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	307.50	+0.023%	$75K	$550K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.11	−0.103%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	306.95	−0.156%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	306.95	−0.156%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.12	−0.100%	$122K	$369K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.22	−0.068%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.21	−0.070%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	307.40	−0.009%	$1K	$511K	5x	as long as short
Variational Omni TAO	+0.0110%	4h	306.68	−0.242%	$3.7M	$6.7M	—	as long as short
Aster TAOUSDT	+0.0134%	4h	307.39	−0.012%	$1.1M	$7.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	307.33	−0.033%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	307.49	+0.019%	$363K	$369K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	306.80	−0.204%	$438K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0279%	1h	307.05	−0.124%	$19K	$1.4M	25x	as long as short
Nado TAO-PERP	+0.0314%	1h	307.39	−0.012%	$834K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.22	−0.068%	$4.2M	$9.5M	100x	as long as short
Lighter TAO	+0.0368%	1h	307.49	+0.020%	$1.7M	$5.4M	5x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	307.62	+0.062%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0459%	1h	307.46	+0.010%	$295K	$800K	10x	as long as short
Phoenix TAO	+0.0521%	1h	307.10	−0.107%	$321K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	307.38	−0.017%	$353	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	307.24	−0.063%	$834K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	307.76	+0.108%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1029%	1h	307.10	−0.108%	$5.8M	$19.6M	50x	as long as short
RISEx TAO/USDClong	+0.1155%	1h	307.43	long leg	$419K	$533K	5x
Hyperliquid TAO	+0.1156%	1h	307.95	+0.170%	$93.9M	$80.8M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+0.423%	$22K	$264	12x	as long as short