TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0908%/8h= −99.4% APRnext payment −$1.14 per $10,000 · paid last 24h −0.208%

Price spread now: Polymarket Perps against Coinbase International−0.409%7-day average −0.189% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.618%−$62 on $10k

Price spread, last 3 days (all we have)+0.162%+$16 · spread now −0.409%, 7d avg −0.189%

Together, before fees−0.456%−$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Polymarket Perps is 0.220% cheaper against Coinbase International than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.189%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.618% in total (about -32.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.14 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	Coinbase International TAO-PERP-INTX	305.27	0.1008	pay 0.0126% / 1h	45m 47s	$1.5M	$5.6M	50x
Short	Polymarket Perps TAO-USD	304.02	0.0100	get 0.0013% / 1h	45m 47s	$77K	$607K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.409%Rate

Funding earned: −$190.68
Price spread: −0.409% → −0.189%: −$22.02
Slippage, 4 orders: −$22.94
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$253.64
Costs to cover: 0.409%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Polymarket Perps: live order book, 37 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, 3 min ago	6.40 bp	14.2 bp −$14	19.5 bp −$195	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 37 min ago	2.28 bp	6.9 bp −$7	11.3 bp −$113	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
Bulk TAO-USD	−0.0466%	1h	307.38	+0.691%	$202K	$17K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	303.51	−0.578%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.52	−0.573%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.94	−0.436%	$43K	$534K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.59	−0.550%	$85.0M	$410.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.49	−0.583%	$58.8M	$120.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.20	−0.678%	$24.4M	$94.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.87	−0.459%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.70	−0.514%	$12.1M	$48.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	303.27	−0.655%	$120.5M	$124.1M	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	303.42	−0.606%	$18.2M	$26.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.92	−0.442%	$34.0M	$45.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.86	−0.462%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.07	−0.066%	$3.6M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	304.88	−0.127%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	304.81	−0.151%	$504K	$977K	10x	as long as short
Polymarket Perps TAO-USDshort	+0.0100%	1h	304.02	−0.409%	$77K	$607K	5x
Bullet TAO-USD	+0.0100%	1h	304.05	−0.399%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.80	−0.482%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.94	−0.436%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.83	−0.472%	$120K	$356K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.84	−0.468%	$3.2M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.63	−0.538%	$167K	$998	3x	as long as short
ApeX Omni TAOUSDT	+0.0106%	1h	303.70	−0.514%	$46K	$269K	50x	as long as short
Aster TAOUSDT	+0.0108%	4h	303.73	−0.505%	$1.1M	$7.7M	50x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	304.03	−0.406%	$2K	$486K	5x	as long as short
Paradex TAO-USD-PERP	+0.0153%	8h	303.36	−0.626%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.66	−0.526%	$359K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	303.71	−0.512%	$434K	—	100x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.45	−0.596%	$4.3M	$9.3M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0346%	1h	303.74	−0.500%	$20K	$1.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0381%	1h	303.78	−0.488%	$376K	$756K	10x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	304.21	−0.347%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0408%	1h	304.20	−0.350%	$1.6M	$5.2M	5x	as long as short
Nado TAO-PERP	+0.0458%	1h	303.70	−0.513%	$827K	$1.9M	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.90	−0.449%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.96	−0.429%	$350	—	20x	as long as short
Extended TAO-USD	+0.0832%	1h	303.81	−0.478%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.1008%	1h	305.27	long leg	$1.5M	$5.6M	50x
Kraken Futures PF_TAOUSD	+0.1040%	1h	303.74	−0.501%	$5.8M	$19.7M	50x	as long as short
RISEx TAO/USDC	+0.1155%	1h	304.30	−0.317%	$410K	$545K	5x	as long as short
Hyperliquid TAO	+0.1288%	1h	304.23	−0.341%	$92.8M	$79.8M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.133%	$22K	$264	12x	as long as short