TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0385%/8h= −42.2% APRnext payment −$0.48 per $10,000 · paid last 24h −0.128%

Price spread now: Popdex against Kraken Futures+0.165%7-day average −0.057% · 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−$28as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on Kraken Futures Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.221%−$22 on $10k

Price spread, last 3 days (all we have)−0.277%−$28 · spread now +0.165%, 7d avg −0.057%

Together, before fees−0.498%−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.222% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.165% now, against its 7-day average of −0.057%): +$22 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	318.47	0.0481	pay 0.0060% / 1h	23m 03s	$5.7M	$20.3M	50x
Short	Popdex TAOUSDT	318.99	0.0096	get 0.0012% / 1h	23m 03s	$43K	$592K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Kraken Futures. 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 Kraken FuturesbpFee PopdexbpOrdersPrice spread, now +0.165%Rate

Funding earned: −$80.93
Price spread: +0.165% → −0.057%: $22.2
Slippage, 4 orders: −$33.83
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$108.96
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Popdex: live order book, 51 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 Kraken Futures live order book, 1 min ago	7.86 bp	13.6 bp −$14	28.8 bp −$288	90.1 bp −$9,009	doesn't fit
Sell Popdex live order book, 51 min ago	1.12 bp	11.3 bp −$11	89.1 bp −$891	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	−0.1321%	1h	318.22	−0.077%	$169K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.91	−0.175%	$127K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.34	−0.041%	$21K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	318.99	+0.165%	$43K	$592K	20x
Binance TAOUSDT	+0.0100%	4h	318.51	+0.014%	$91.7M	$447.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.50	+0.011%	$26.1M	$108.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.40	−0.021%	$12.9M	$50.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	318.36	−0.033%	$109.1M	$135.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.48	+0.004%	$18.2M	$29.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.41	−0.018%	$35.5M	$50.9M	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	318.41	−0.017%	$40K	$292K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	318.34	−0.041%	$526K	$960K	10x	as long as short
Bullet TAO-USD	+0.0100%	1h	318.61	+0.044%	$12K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.45	−0.005%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.25	−0.068%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.82	+0.111%	$127K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.44	−0.008%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	319.02	+0.173%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	319.01	+0.171%	$738	$624K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0173% / S +0.0093%	1h	318.35	−0.037%	$458K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	318.49	+0.008%	$377K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.11	+0.202%	$84K	$550K	5x	as long as short
Aster TAOUSDT	+0.0225%	4h	318.44	−0.008%	$1.2M	$8.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	318.30	−0.052%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0241%	1h	318.52	+0.016%	$17K	$1.5M	25x	as long as short
Polymarket Perps TAO-USD	+0.0290%	1h	318.68	+0.067%	$93K	$635K	5x	as long as short
ApeX Omni TAOUSDT	+0.0316%	1h	317.14	−0.416%	$49K	$267K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.41	−0.018%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0398%	4h	318.59	+0.039%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0460%	4h	318.45	−0.004%	$5.5M	$8.7M	—	as long as short
Kraken Futures PF_TAOUSDlong	+0.0481%	1h	318.47	long leg	$5.7M	$20.3M	50x
Phoenix TAO	+0.0525%	1h	318.10	−0.115%	$333K	$624K	5x	as long as short
Bybit TAOUSDT	+0.0561%	4h	318.74	+0.086%	$65.7M	$133.1M	50x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	322.97	+1.414%	$23K	$678	12x	as long as short
01 Exchange TAOUSD	+0.0584%	1h	319.05	+0.183%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	318.51	+0.012%	$366	—	20x	as long as short
Nado TAO-PERP	+0.0770%	1h	318.65	+0.059%	$891K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0832%	1h	318.66	+0.061%	$322K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.63	+0.051%	$1.5M	$6.3M	50x	as long as short
Extended TAO-USD	+0.1120%	1h	318.44	−0.007%	$926K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	319.13	+0.207%	$423K	$592K	5x	as long as short
Lighter TAO	+0.1440%	1h	318.97	+0.158%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2002%	1h	319.07	+0.190%	$103.2M	$91.0M	5x	as long as short