TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0336%/8h= −36.8% APRnext payment −$0.42 per $10,000 · paid last 24h −0.110%

Price spread now: Lighter against Coinbase International−0.222%7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.378%−$38 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.222%, 7d avg −0.112%

Together, before fees−0.271%+ Points / potential airdropLighter: Season 3 · farm board−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Lighter is 0.110% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.112%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TAO-PERP-INTX	319.76	0.0984	pay 0.0123% / 1h	5m 11s	$1.3M	$7.2M	50x
Short	Lighter TAO	319.05	0.0648	get 0.0081% / 1h	5m 11s	$1.6M	$6.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now −0.222%Rate

Funding earned: −$70.56
Price spread: −0.222% → −0.112%: −$11
Slippage, 4 orders: −$27.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$119
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Lighter: live order book, 3 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 Coinbase International live order book, 4 min ago	5.31 bp	15.0 bp −$15	16.7 bp −$167	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.02 bp	6.5 bp −$6	21.1 bp −$211	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	318.46	−0.407%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0063%	1h	318.46	−0.407%	$128K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.85	−0.285%	$49K	$716K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.70	−0.331%	$26.5M	$132.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.50	−0.394%	$14.8M	$52.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.69	−0.335%	$17.9M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.57	−0.372%	$35.9M	$58.1M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.70	−0.331%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.56	−0.375%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.18	−0.494%	$117K	$592K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX TAO/USD [WBTC.b-USDC]	L +0.0103% / S +0.0138%	1h	318.49	−0.396%	$411K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	318.65	−0.347%	$652	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0128%	1h	318.90	−0.270%	$175K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0138%	1h	318.99	−0.241%	$46K	$259K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0181%	4h	318.74	−0.319%	$52K	$295K	10x	as long as short
Binance TAOUSDT	+0.0189%	4h	318.86	−0.281%	$93.3M	$533.4M	75x	as long as short
MEXC TAO_USDT	+0.0192%	4h	318.80	−0.300%	$104.3M	$152.9M	300x	as long as short
edgeX TAOUSDC	+0.0195%	4h	319.07	−0.216%	$42K	$320K	10x	as long as short
Bulk TAO-USD	+0.0217%	1h	317.92	−0.574%	$169K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0263%	8h	318.63	−0.354%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0278%	4h	318.76	−0.313%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0282%	4h	318.89	−0.272%	$70.1M	$157.2M	50x	as long as short
Bullet TAO-USD	+0.0305%	1h	318.80	−0.300%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	318.69	−0.335%	$374K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0314%	4h	318.68	−0.339%	$542K	$896K	10x	as long as short
Aster TAOUSDT	+0.0350%	4h	318.69	−0.335%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	318.74	−0.319%	$906K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0429%	4h	318.88	−0.275%	$4.7M	$11.0M	100x	as long as short
Phemex TAOUSDT	+0.0435%	4h	318.62	−0.357%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0472%	1h	318.75	−0.315%	$777K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	319.10	−0.206%	$100K	$384K	5x	as long as short
Variational Omni TAO	+0.0574%	4h	318.65	−0.347%	$5.6M	$10.1M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0599%	1h	318.74	−0.319%	$15K	$1.9M	25x	as long as short
Phoenix TAO	+0.0629%	1h	319.30	−0.144%	$321K	$703K	5x	as long as short
Lighter TAOshort	+0.0648%	1h	319.05	−0.222%	$1.6M	$6.9M	5x
01 Exchange TAOUSD	+0.0688%	1h	318.95	−0.253%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0695%	1h	318.95	−0.253%	$94.4M	$110.2M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	318.71	−0.327%	$367	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0713%	1h	318.82	−0.294%	$440K	$981K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0831%	1h	318.96	−0.249%	$6.0M	$21.7M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.77	−0.308%	$452K	$662K	5x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0984%	1h	319.76	long leg	$1.3M	$7.2M	50x
Injective TAO/USDC PERP	+0.4513%	1h	322.44	+0.838%	$23K	$2K	12x	as long as short