TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0224%/8h= −24.5% APRnext payment −$0.28 per $10,000 · paid last 24h +0.020%

Price spread now: dYdX against Deribit+0.168%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$1151.154% of the position

Long on Deribit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.284%+$28 on $10k

Price spread, last 3 days (all we have)−0.296%−$30 · spread now +0.168%, 7d avg −0.064%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.231% dearer against Deribit than usual: you sell high and buy low (spread +0.168% now, against its 7-day average of −0.064%): +$23 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.284%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	307.18	0.0224	pay 0.0028% / 1h	39m 36s	$15K	$1.5M	25x
Short	dYdX TAO-USD	307.69	0	get 0.0000% / 1h	39m 36s	$123K	$84K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.168%Rate

Funding earned: −$47.04
Price spread: +0.168% → −0.064%: $23.11
Slippage, 4 orders: −$98.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$139.3
Costs to cover: 1.154%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; dYdX: live order book, 29 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	4.52 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 29 min ago	36.33 bp	44.5 bp −$45	67.6 bp −$676	151.5 bp −$15.1K	609.3 bp −$304.6K

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
dYdX TAO-USDshort	0.0000%	1h	307.69	+0.168%	$123K	$84K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	306.43	−0.243%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.68	+0.163%	$36K	$616K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.81	+0.204%	$88.8M	$460.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.10	+0.300%	$25.3M	$108.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	307.70	+0.170%	$12.5M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.05	+0.283%	$103.6M	$137.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.03	+0.277%	$17.9M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.09	+0.297%	$34.4M	$53.0M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.15	+0.640%	$34K	$298K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	308.37	+0.387%	$508K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.11	+0.629%	$46K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.02	−0.052%	$56K	$283K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.13	−0.016%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.33	+0.049%	$126K	$471K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.33	+0.049%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0115%	8h	307.58	+0.130%	$689	$680K	5x	as long as short
Aster TAOUSDT	+0.0165%	4h	307.69	+0.166%	$1.2M	$9.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0102%	1h	306.38	−0.261%	$412K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0172%	1h	307.45	+0.088%	$5.5M	$20.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0203%	1h	308.22	+0.339%	$77K	$644K	5x	as long as short
Bullet TAO-USD	+0.0218%	1h	306.70	−0.157%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0224%	1h	307.18	long leg	$15K	$1.5M	25x
Paradex TAO-USD-PERP	+0.0274%	8h	308.01	+0.269%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	308.07	+0.290%	$364K	$381K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	308.10	+0.300%	$81K	$547K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+1.296%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+2.751%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0586%	1h	308.32	+0.372%	$750K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	308.80	+0.528%	$323K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	307.91	+0.238%	$3K	$4K	5x	as long as short
Phemex TAOUSDT	+0.0639%	4h	307.50	+0.104%	$3.3M	$8.0M	50x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	308.33	+0.374%	$355	—	20x	as long as short
Variational Omni TAO	+0.0734%	4h	308.15	+0.315%	$5.3M	$8.9M	—	as long as short
BingX TAO-USDT	+0.0736%	4h	307.98	+0.261%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0741%	4h	308.25	+0.349%	$62.9M	$135.7M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0841%	1h	307.80	+0.202%	$311K	$814K	10x	as long as short
Extended TAO-USD	+0.0952%	1h	307.83	+0.213%	$885K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	307.35	+0.056%	$1.4M	$6.2M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	307.88	+0.230%	$410K	$606K	5x	as long as short
Hyperliquid TAO	+0.1235%	1h	308.57	+0.453%	$97.3M	$93.3M	5x	as long as short
Lighter TAO	+0.1360%	1h	308.17	+0.324%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+1.700%	$166K	$40K	10x	as long as short