TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.3996%/8h= −437.6% APRnext payment −$5.00 per $10,000 · paid last 24h −0.644%

Price spread now: Popdex against Injective−0.961%46s7-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 Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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 −$120 a day on $10k at the current rate, and Popdex is 0.961% cheaper against Injective than usual: you would sell low and buy high (−$96 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 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	315.24	0.4092	pay 0.0512% / 1h	18m 31s	$23K	$2K	12x
Short	Popdex TAOUSDT	312.21	0.0096	get 0.0012% / 1h	18m 31s	$46K	$656K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.961%Rate

Funding earned: −$839.23
Price spread: −0.961% → 0.000%: −$96.12
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$941.76
Costs to cover: 0.064%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Popdex: live order book, 36 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 Popdex live order book, 36 min ago	1.75 bp	9.5 bp −$9	83.9 bp −$839	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	−0.0347%	1h	312.56	−0.851%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.30	−0.932%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0012%	1h	312.14	−0.984%	$124K	$85K	5x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	312.21	−0.961%	$46K	$656K	20x
Katana Perps TAO-USD	+0.0099%	8h	311.95	−1.044%	$639	$842K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.39	−0.905%	$356K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.16	−0.977%	$89.4M	$501.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.30	−0.933%	$26.0M	$120.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.10	−0.996%	$13.3M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.31	−0.929%	$102.5M	$145.3M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	312.32	−0.926%	$17.8M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.03	−1.018%	$35.0M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.23	−0.955%	—	$33.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.63	−1.146%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.55	−1.171%	$529K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.69	−1.126%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.32	−0.926%	$79K	$901K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.59	−0.841%	$11K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.46	−0.882%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.74	−1.110%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.40	−0.901%	$3.1M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.45	−0.885%	$172K	$998	3x	as long as short
Aster TAOUSDT	+0.0107%	4h	312.34	−0.920%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	312.28	−0.939%	$52K	$290K	10x	as long as short
Bybit TAOUSDT	+0.0131%	4h	312.30	−0.933%	$67.3M	$150.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0137% / S +0.0135%	1h	312.03	−1.017%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0153%	8h	312.21	−0.962%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	312.50	−0.869%	$101K	$394K	5x	as long as short
Extended TAO-USD	+0.0304%	1h	312.14	−0.983%	$909K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0308%	4h	311.97	−1.037%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0338%	1h	312.25	−0.949%	$788K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.69	−0.809%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	312.30	−0.933%	$311K	$711K	5x	as long as short
Hyperliquid TAO	+0.0465%	1h	312.49	−0.872%	$91.8M	$107.8M	5x	as long as short
01 Exchange TAOUSD	+0.0480%	1h	312.48	−0.876%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0498%	1h	312.65	−0.822%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0600%	1h	312.60	−0.838%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0624%	1h	312.47	−0.878%	$14K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.43	−0.893%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.26	−0.945%	$443K	$647K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−1.370%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.08	−1.002%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERPlong	+0.4092%	1h	315.24	long leg	$23K	$2K	12x