Funding you earn now, next payment 08:00 UTC−0.0558%/8h= −61.1% APRnext payment −$0.70 per $10,000 · paid last 24h −0.029%
Price spread now: Popdex against Deribit+0.052%7-day average −0.026% · 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−$34as in the Price arb table
costs, in and out, $10k−$420.421% of the position
Funding, last 4 days (all we have)−0.004%$0 on $10k
+Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.052%, 7d avg −0.026%
=The price spread pays, funding is against you. Popdex is 0.078% dearer against Deribit than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of −0.026%): +$8 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 4 days (−0.004% in total) that is about 3 months.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.004% in total (about -0.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.70 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 | 319.67 | 0.0654 | pay 0.0082% / 1h | 10m 45s | $15K | $1.9M | 25x |
| Short | Popdex TAOUSDT | 319.84 | 0.0096 | get 0.0012% / 1h | 10m 45s | $47K | $713K | 20x |
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$117.18
- Price spread: +0.052% → −0.026%
- $7.76
- Slippage, 4 orders
- −$28.73
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$151.55
- Costs to cover
- 0.421%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 3 min ago; Popdex: live order book, 28 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, 3 min ago | 6.57 bp | 10.1 bp −$10 | 17.9 bp −$179 | doesn't fit | doesn't fit |
| Sell Popdex live order book, 28 min ago | 2.21 bp | 10.4 bp −$10 | 97.7 bp −$977 | 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 | 319.39 | −0.088% | $22K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0070% | 1h | 319.31 | −0.114% | $128K | $86K | 5x | as long as short |
| Popdex TAOUSDTshort | +0.0096% | 1h | 319.84 | +0.052% | $47K | $713K | 20x | |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.50 | −0.055% | $26.5M | $132.2M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 319.10 | −0.180% | $14.8M | $52.2M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.40 | −0.086% | $17.9M | $32.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 319.29 | −0.120% | $36.0M | $57.9M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 319.64 | −0.011% | $88K | $1.2M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.48 | −0.061% | $1K | $2.0M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.10 | −0.180% | $117K | $602K | 20x | as long as short |
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDTShow 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 +0.0137% | 1h | 319.40 | −0.087% | $412K | — | 100x | as long as short |
| Katana Perps TAO-USD | +0.0106% | 8h | 319.54 | −0.042% | $2K | $1.1M | 5x | as long as short |
| Aevo TAO-PERP | +0.0128% | 1h | 319.85 | +0.056% | $176K | $998 | 3x | as long as short |
| ApeX Omni TAOUSDT | +0.0139% | 1h | 319.58 | −0.030% | $46K | $259K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0175% | 4h | 319.67 | −0.001% | $52K | $294K | 10x | as long as short |
| edgeX TAOUSDC | +0.0184% | 4h | 317.44 | −0.699% | $42K | $321K | 10x | as long as short |
| MEXC TAO_USDT | +0.0188% | 4h | 319.73 | +0.017% | $104.4M | $152.7M | 300x | as long as short |
| Binance TAOUSDT | +0.0193% | 4h | 319.70 | +0.008% | $92.5M | $532.9M | 75x | as long as short |
| Paradex TAO-USD-PERP | +0.0265% | 8h | 319.56 | −0.035% | $14K | $1K | 10x | as long as short |
| BingX TAO-USDT | +0.0272% | 4h | 319.22 | −0.142% | — | $37.3M | — | as long as short |
| Bybit TAOUSDT | +0.0274% | 4h | 319.70 | +0.008% | $70.3M | $157.1M | 50x | as long as short |
| Bullet TAO-USD | +0.0297% | 1h | 319.76 | +0.027% | $12K | $17K | 20x | as long as short |
| Pacifica TAO | +0.0313% | 1h | 319.56 | −0.035% | $375K | $466K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0322% | 4h | 319.53 | −0.045% | $544K | $907K | 10x | as long as short |
| Phemex TAOUSDT | +0.0346% | 4h | 319.63 | −0.014% | $3.2M | $8.2M | 50x | as long as short |
| Aster TAOUSDT | +0.0356% | 4h | 319.69 | +0.004% | $1.3M | $11.0M | 50x | as long as short |
| Extended TAO-USD | +0.0384% | 1h | 319.26 | −0.129% | $906K | $2.4M | 25x | as long as short |
| BloFin TAO-USDT | +0.0429% | 4h | 319.96 | +0.089% | $4.7M | $11.0M | 100x | as long as short |
| Nado TAO-PERP | +0.0461% | 1h | 319.62 | −0.016% | $786K | $2.0M | 10x | as long as short |
| Arcus TAO-USD | +0.0473% | 1h | 320.01 | +0.105% | $101K | $384K | 5x | as long as short |
| Variational Omni TAO | +0.0568% | 4h | 319.84 | +0.052% | $5.6M | $10.1M | — | as long as short |
| Lighter TAO | +0.0608% | 1h | 319.78 | +0.034% | $1.6M | $6.9M | 5x | as long as short |
| Phoenix TAO | +0.0629% | 1h | 319.90 | +0.071% | $321K | $703K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUALlong | +0.0654% | 1h | 319.67 | long leg | $15K | $1.9M | 25x | |
| 01 Exchange TAOUSD | +0.0680% | 1h | 320.11 | +0.136% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0696% | 1h | 319.80 | +0.039% | $298K | $905K | 10x | as long as short |
| Reya TAORUSDPERP | +0.0698% | 1h | 319.69 | +0.003% | $368 | — | 20x | as long as short |
| Hyperliquid TAO | +0.0711% | 1h | 319.58 | −0.030% | $94.6M | $110.7M | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0829% | 1h | 319.74 | +0.019% | $6.0M | $21.7M | 50x | as long as short |
| RISEx TAO/USDC | +0.0831% | 1h | 319.55 | −0.040% | $454K | $662K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 320.12 | +0.139% | $1.4M | $7.1M | 50x | as long as short |
| Bulk TAO-USD | +0.1572% | 1h | 317.17 | −0.783% | $169K | $0 | 10x | as long as short |
| Injective TAO/USDC PERP | +0.4513% | 1h | 318.80 | −0.274% | $23K | $2K | 12x | as long as short |
GMX TAO/USD [WBTC.b-USDC]
Katana Perps TAO-USD
Aevo TAO-PERP
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
edgeX TAOUSDC
MEXC TAO_USDT
Binance TAOUSDT
Paradex TAO-USD-PERP
BingX TAO-USDT
Bybit TAOUSDT
Bullet TAO-USD
Pacifica TAO
GRVT TAO_USDT_Perp
Phemex TAOUSDT
Aster TAOUSDT
Extended TAO-USD
BloFin TAO-USDT
Nado TAO-PERP
Arcus TAO-USD
Variational Omni TAO
Lighter TAO
Phoenix TAO
01 Exchange TAOUSD
Backpack TAO_USDC_PERP
Reya TAORUSDPERP
Hyperliquid TAO
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Bulk TAO-USD
Injective TAO/USDC PERP