TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0287%/8h= −31.4% APRnext payment −$0.36 per $10,000 · paid last 24h +0.009%

Price spread now: Arcus against Deribit+0.108%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$620.618% of the position

Long on Deribit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.040%+$4 on $10k

Price spread, last 3 days (all we have)−0.125%−$13 · spread now +0.108%, 7d avg +0.048%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.060% dearer against Deribit than usual: you sell high and buy low (spread +0.108% now, against its 7-day average of +0.048%): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 17 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.040% in total (about 4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.36 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	Deribit TAO_USDC-PERPETUAL	312.86	0.0473	pay 0.0059% / 1h	44m 57s	$18K	$1.4M	25x
Short	Arcus TAO-USD	313.20	0.0186	get 0.0023% / 1h	44m 57s	$83K	$626K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Deribit. 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 DeribitbpFee ArcusbpOrdersPrice spread, now +0.108%Rate

Funding earned: −$60.25
Price spread: +0.108% → +0.048%: $6.04
Slippage, 4 orders: −$50.33
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$116.04
Costs to cover: 0.618%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Arcus: live order book, 34 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 Deribit live order book, 4 min ago	4.30 bp	15.0 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 34 min ago	3.43 bp	13.1 bp −$13	28.3 bp −$283	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	−0.4722%	1h	314.01	+0.367%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.51	−0.112%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.55	−0.101%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.488%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.94	+0.025%	$40K	$549K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.88	+0.006%	$370K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.27	+0.130%	$88.7M	$423.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.39	+0.169%	$61.4M	$123.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	+0.076%	$25.1M	$100.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.10	+0.076%	$12.7M	$49.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.06	+0.063%	$119.7M	$127.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.36	+0.159%	$19.1M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.94	+0.025%	$35.0M	$46.3M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.08	+0.070%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.65	+0.250%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.17	+0.419%	$519K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.82	−0.013%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.67	−0.061%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.92	+0.018%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.93	+0.022%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.93	+0.021%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	312.89	+0.009%	$828	$539K	5x	as long as short
Polymarket Perps TAO-USD	+0.0137%	1h	312.93	+0.022%	$77K	$522K	5x	as long as short
Bullet TAO-USD	+0.0150%	1h	312.91	+0.014%	$11K	$17K	20x	as long as short
Arcus TAO-USDshort	+0.0186%	1h	313.20	+0.108%	$83K	$626K	5x
Paradex TAO-USD-PERP	+0.0187%	8h	312.83	−0.011%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0188%	4h	313.49	+0.199%	$3.9M	$7.0M	—	as long as short
Aster TAOUSDT	+0.0206%	4h	312.89	+0.008%	$1.1M	$7.8M	50x	as long as short
ApeX Omni TAOUSDT	+0.0212%	1h	314.14	+0.408%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.23	−0.202%	$4.3M	$9.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.84	−0.008%	$5.8M	$19.8M	50x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0473%	1h	312.86	long leg	$18K	$1.4M	25x
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.57	−0.093%	$448K	—	100x	as long as short
Nado TAO-PERP	+0.0532%	1h	312.99	+0.040%	$833K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	−0.084%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0575%	1h	313.50	+0.204%	$301K	$799K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	312.79	−0.024%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	313.23	+0.118%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	313.02	+0.051%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.29	+0.137%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.11	+0.080%	$431K	$536K	5x	as long as short
Lighter TAO	+0.1472%	1h	313.29	+0.137%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2118%	1h	313.96	+0.351%	$98.3M	$82.9M	5x	as long as short