TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0541%/8h= −59.2% APRnext payment −$0.68 per $10,000 · paid last 24h +0.026%

Price spread now: Kraken Futures against Extended+0.016%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on Extended Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.123%+$12 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now +0.016%, 7d avg +0.091%

Together, before fees+0.270%+ Points / potential airdropExtended: Active · farm board+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Kraken Futures is 0.075% cheaper against Extended than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.091%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.123%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.123% in total (about 6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.68 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	Extended TAO-USD	311.30	0.0192	pay 0.0024% / 1h	43m 12s	$913K	$2.4M	25x
Short	Kraken Futures PF_TAOUSD	311.35	−0.0349	pay 0.0044% / 1h	43m 12s	$5.5M	$20.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Extended. 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 ExtendedbpFee Kraken FuturesbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$113.54
Price spread: +0.016% → +0.091%: −$7.51
Slippage, 4 orders: −$22.29
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$158.33
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Kraken Futures: live order book, 6 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 Extended live order book, 5 min ago	2.72 bp	5.2 bp −$5	7.1 bp −$71	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	7.05 bp	13.6 bp −$14	26.8 bp −$268	105.9 bp −$10.6K	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
Kraken Futures PF_TAOUSDshort	−0.0349%	1h	311.35	+0.016%	$5.5M	$20.7M	50x
dYdX TAO-USD	0.0000%	1h	311.44	+0.044%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.12	−0.059%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.79	+0.157%	$45K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.48	+0.057%	$638	$818K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.72	+0.135%	$356K	$413K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.53	+0.073%	$89.4M	$498.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.61	+0.099%	$67.0M	$150.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.40	+0.032%	$25.8M	$120.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.30	−0.001%	$13.0M	$49.6M	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	311.56	+0.083%	$101.1M	$144.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.36	+0.019%	$17.7M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.94	−0.116%	$34.8M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.45	+0.048%	—	$33.1M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.19	+0.287%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.95	+0.207%	$529K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.85	+0.176%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.38	+0.025%	$82K	$870K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.47	+0.056%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.33	+0.009%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.93	−0.119%	$109K	$537K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.47	+0.054%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0114%	4h	311.27	−0.010%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0115%	4h	311.49	+0.062%	$1.2M	$10.4M	50x	as long as short
Bulk TAO-USD	+0.0125%	1h	311.89	+0.189%	$166K	$333	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0141% / S +0.0131%	1h	311.08	−0.071%	$415K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0143%	8h	311.53	+0.072%	$14K	$1K	10x	as long as short
Extended TAO-USDlong	+0.0192%	1h	311.30	long leg	$913K	$2.4M	25x
Arcus TAO-USD	+0.0231%	1h	311.97	+0.215%	$101K	$392K	5x	as long as short
Hyperliquid TAO	+0.0237%	1h	311.59	+0.093%	$91.4M	$107.3M	5x	as long as short
Nado TAO-PERP	+0.0264%	1h	311.58	+0.089%	$789K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0324%	4h	312.10	+0.257%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.44	+0.044%	$4.5M	$10.7M	100x	as long as short
Lighter TAO	+0.0408%	1h	311.71	+0.132%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0415%	1h	311.56	+0.083%	$309K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0424%	1h	311.98	+0.218%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0452%	1h	311.39	+0.029%	$24K	$1.8M	25x	as long as short
Phoenix TAO	+0.0457%	1h	312.50	+0.385%	$311K	$711K	5x	as long as short
Phemex TAOUSDT	+0.0661%	4h	311.54	+0.076%	$3.2M	$8.1M	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.43	+0.040%	$358	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.75	+0.144%	$435K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.01	+0.227%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.38	+1.952%	$23K	$2K	12x	as long as short