TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1024%/8h= +112.1% APRnext payment +$1.28 per $10,000 · paid last 24h +0.226%

Price spread now: Coinbase International against dYdX+0.384%7-day average +0.225% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1181.178% of the position

Long on dYdX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.455%+$45 on $10k

Price spread, last 4 days (all we have)−0.192%−$19 · spread now +0.384%, 7d avg +0.225%

Together, before fees+0.263%+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Coinbase International is 0.159% dearer against dYdX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.225%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.455% in total (about 23.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.28 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	dYdX TAO-USD	323.14	0	get 0.0000% / 1h	27m 17s	$129K	$85K	5x
Short	Coinbase International TAO-PERP-INTX	324.38	0.1024	get 0.0128% / 1h	27m 17s	$1.5M	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against dYdX. 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 dYdXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.384%Rate

Funding earned: $215.04
Price spread: +0.384% → +0.225%: $15.88
Slippage, 4 orders: −$97.83
Fee dYdX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $113.1
Costs to cover: 1.178%
Break-even: 3.3 days

Slippage from dYdX: live order book, 37 min ago; Coinbase International: live order book, 2 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 dYdX live order book, 37 min ago	38.70 bp	45.9 bp −$46	73.6 bp −$736	179.9 bp −$18.0K	664.8 bp −$332.4K
Sell Coinbase International live order book, 2 min ago	7.09 bp	15.9 bp −$16	21.8 bp −$218	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	−0.5583%	1h	316.49	−2.058%	$168K	$1K	10x	as long as short
dYdX TAO-USDlong	0.0000%	1h	323.14	long leg	$129K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	322.43	−0.220%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	322.93	−0.065%	$34K	$676K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	322.96	−0.056%	$94.4M	$479.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.40	+0.080%	$26.6M	$119.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.50	−0.198%	$13.2M	$49.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	322.94	−0.062%	$100.3M	$141.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.86	−0.087%	$18.1M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.55	−0.183%	$36.1M	$54.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	323.11	−0.010%	$36K	$301K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.77	−0.115%	$87K	$792K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.61	−0.164%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	322.86	−0.087%	$131K	$482K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	323.00	−0.043%	$3.5M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	322.96	−0.055%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	322.75	−0.121%	$58K	$282K	10x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	323.16	+0.006%	$687	$776K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0160% / S +0.0126%	1h	322.37	−0.239%	$447K	—	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0243%	1h	322.76	−0.119%	$5.7M	$20.6M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0254%	4h	323.03	−0.034%	$536K	$964K	10x	as long as short
Bullet TAO-USD	+0.0276%	1h	322.80	−0.105%	$12K	$18K	20x	as long as short
Paradex TAO-USD-PERP	+0.0305%	8h	323.30	+0.048%	$15K	$1K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	323.71	+0.176%	$4.6M	$11.4M	100x	as long as short
Aster TAOUSDT	+0.0371%	4h	323.03	−0.034%	$1.1M	$9.6M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0429%	1h	322.73	−0.126%	$21K	$1.6M	25x	as long as short
Pacifica TAO	+0.0448%	1h	323.55	+0.127%	$383K	$402K	10x	as long as short
Phoenix TAO	+0.0504%	1h	324.30	+0.359%	$339K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	323.33	+0.059%	$101K	$487K	5x	as long as short
BingX TAO-USDT	+0.0558%	4h	322.64	−0.155%	—	$30.3M	—	as long as short
Bybit TAOUSDT	+0.0563%	4h	323.13	−0.003%	$70.8M	$143.7M	50x	as long as short
Nado TAO-PERP	+0.0572%	1h	322.89	−0.077%	$791K	$2.2M	10x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	322.79	−0.108%	$371	—	20x	as long as short
ApeX Omni TAOUSDT	+0.0723%	1h	323.82	+0.210%	$48K	$253K	50x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	323.51	+0.115%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0840%	1h	322.76	−0.117%	$949K	$2.3M	25x	as long as short
Variational Omni TAO	+0.0868%	4h	323.85	+0.219%	$6.0M	$9.8M	—	as long as short
Lighter TAO	+0.0912%	1h	323.21	+0.022%	$1.6M	$6.3M	5x	as long as short
Coinbase International TAO-PERP-INTXshort	+0.1024%	1h	324.38	+0.384%	$1.5M	$6.8M	50x
Backpack TAO_USDC_PERP	+0.1062%	1h	323.84	+0.217%	$445K	$860K	10x	as long as short
RISEx TAO/USDC	+0.1159%	1h	323.15	+0.005%	$468K	$647K	5x	as long as short
Hyperliquid TAO	+0.1260%	1h	323.18	+0.012%	$101.7M	$99.1M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	323.37	+0.071%	$24K	$2K	12x	as long as short