TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.3752%/8h= −410.9% APRnext payment −$4.69 per $10,000 · paid last 24h −0.633%

Price spread now: Deribit against Injective−1.771%63s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−3.598%−$360 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$113 a day on $10k at the current rate, and Deribit is 1.771% cheaper against Injective than usual: you would sell low and buy high (−$177 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	317.38	0.4092	pay 0.0512% / 1h	46m 04s	$23K	$2K	12x
Short	Deribit TAO_USDC-PERPETUAL	311.76	0.0340	get 0.0043% / 1h	46m 04s	$20K	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Injective. 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 InjectivebpFee DeribitbpOrdersPrice spread, now −1.771%Rate

Funding earned: −$787.99
Price spread: −1.771% → 0.000%: −$177.09
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$972.09
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Deribit: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Deribit live order book, 3 min ago	3.84 bp	11.3 bp −$11	18.6 bp −$186	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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_TAOUSD	−0.0348%	1h	311.63	−1.813%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	311.76	−1.770%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.84	−1.746%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.83	−1.749%	$45K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	311.75	−1.774%	$1K	$813K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.98	−1.701%	$356K	$413K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	311.55	−1.837%	$89.4M	$497.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.55	−1.837%	$67.2M	$149.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.60	−1.821%	$25.8M	$120.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.10	−0.718%	$167K	$2K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	311.30	−1.916%	$13.0M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.56	−1.834%	$100.9M	$144.1M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.49	−1.856%	$17.7M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.76	−1.771%	$34.9M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	311.51	−1.850%	—	$33.1M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.96	−1.709%	$41K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.93	−1.718%	$529K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.00	−1.695%	$46K	$253K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.80	−1.758%	$82K	$870K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.13	−1.654%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.48	−1.859%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.42	−1.878%	$109K	$536K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.61	−1.818%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.84	−1.747%	$171K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0116%	4h	311.78	−1.764%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0122%	4h	311.65	−1.804%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0141% / S +0.0130%	1h	311.84	−1.747%	$415K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0141%	8h	311.76	−1.770%	$14K	$1K	10x	as long as short
Hyperliquid TAO	+0.0169%	1h	311.73	−1.780%	$91.4M	$107.0M	5x	as long as short
Extended TAO-USD	+0.0184%	1h	311.69	−1.794%	$913K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.02	−1.689%	$101K	$391K	5x	as long as short
Nado TAO-PERP	+0.0253%	1h	311.93	−1.716%	$785K	$2.2M	10x	as long as short
Variational Omni TAO	+0.0324%	4h	312.10	−1.664%	$5.5M	$10.0M	—	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0340%	1h	311.76	−1.771%	$20K	$1.7M	25x
BloFin TAO-USDT	+0.0340%	4h	312.18	−1.638%	$4.5M	$10.8M	100x	as long as short
Lighter TAO	+0.0376%	1h	312.00	−1.696%	$1.5M	$6.4M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0391%	1h	311.62	−1.815%	$310K	$911K	10x	as long as short
01 Exchange TAOUSD	+0.0416%	1h	311.95	−1.711%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0457%	1h	312.50	−1.538%	$311K	$711K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.01	−1.692%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.78	−1.763%	$432K	$650K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.94	−1.399%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERPlong	+0.4092%	1h	317.38	long leg	$23K	$2K	12x