TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0114%/8h= −12.5% APRnext payment −$0.14 per $10,000 · paid last 24h +0.059%

Price spread now: Kraken Futures against RISEx−0.222%7-day average +0.037% · 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−$69as in the Price arb table

costs, in and out, $10k−$440.435% of the position

Long on RISEx Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.204%−$20 on $10k

Price spread, last 3 days (all we have)+0.260%+$26 · spread now −0.222%, 7d avg +0.037%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.258% cheaper against RISEx than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	304.31	0.1155	pay 0.0144% / 1h	48m 29s	$410K	$545K	5x
Short	Kraken Futures PF_TAOUSD	303.64	0.1040	get 0.0130% / 1h	48m 29s	$5.8M	$19.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.222%Rate

Funding earned: −$24.01
Price spread: −0.222% → +0.037%: −$25.82
Slippage, 4 orders: −$27.54
Fee RISEx: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$93.37
Costs to cover: 0.435%
Break-even: never at this rate

Slippage from RISEx: live order book, 35 min ago; Kraken Futures: live order book, 6 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, 35 min ago	0.65 bp	3.7 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	8.64 bp	16.0 bp −$16	29.6 bp −$296	182.8 bp −$18.3K	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	−0.0466%	1h	307.38	+1.007%	$202K	$17K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	303.87	−0.145%	$125K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.26	−0.346%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	304.01	−0.100%	$43K	$533K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.95	−0.120%	$85.3M	$409.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.81	−0.166%	$58.9M	$120.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.50	−0.268%	$24.4M	$94.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	304.43	+0.038%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.90	−0.136%	$12.1M	$48.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	304.02	−0.097%	$120.7M	$123.9M	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	303.96	−0.117%	$18.3M	$26.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.98	−0.110%	$34.0M	$45.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	304.01	−0.100%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.07	+0.248%	$3.6M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	304.88	+0.187%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	304.81	+0.163%	$504K	$977K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	306.50	+0.718%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.87	−0.146%	$77K	$607K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	304.00	−0.103%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.44	−0.287%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.40	−0.301%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.88	−0.143%	$120K	$355K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.85	−0.153%	$3.2M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.56	−0.246%	$167K	$998	3x	as long as short
Aster TAOUSDT	+0.0111%	4h	303.82	−0.163%	$1.1M	$7.6M	50x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	303.99	−0.107%	$2K	$488K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	303.93	−0.126%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	304.04	−0.090%	$359K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.41	−0.299%	$433K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0212%	1h	303.54	−0.254%	$22K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.61	−0.232%	$4.3M	$9.3M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0354%	1h	303.78	−0.176%	$376K	$756K	10x	as long as short
Lighter TAO	+0.0384%	1h	304.13	−0.059%	$1.7M	$5.2M	5x	as long as short
01 Exchange TAOUSD	+0.0408%	1h	304.29	−0.008%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0481%	1h	303.80	−0.168%	$827K	$1.9M	10x	as long as short
Phoenix TAO	+0.0521%	1h	307.40	+1.014%	$326K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	303.96	−0.118%	$350	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	303.99	−0.106%	$840K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.27	+0.314%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSDshort	+0.1040%	1h	303.64	−0.222%	$5.8M	$19.8M	50x
RISEx TAO/USDClong	+0.1155%	1h	304.31	long leg	$410K	$545K	5x
Hyperliquid TAO	+0.1379%	1h	304.38	+0.021%	$93.3M	$79.5M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.451%	$22K	$264	12x	as long as short