Funding you earn now, next payment 12:00 UTC+0.0459%/8h= +50.2% APRnext payment +$0.57 per $10,000 · paid last 24h −0.045%
Price spread now: Kraken Futures against Lighter+0.006%7-day average −0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$320.319% of the position
Funding, last 7 days+0.056%+$6 on $10k
+Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.006%, 7d avg −0.025%
=Together, before fees+0.094%+ Points / potential airdropLighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.031% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.025%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.056% in total (about 2.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.57 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TAO | 314.65 | 0.0400 | pay 0.0050% / 1h | 43m 04s | $1.6M | $6.7M | 5x |
| Short | Kraken Futures PF_TAOUSD | 314.67 | 0.0859 | get 0.0107% / 1h | 43m 04s | $6.3M | $19.6M | 50x |
Lighter TAO
Kraken Futures PF_TAOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $96.32
- Price spread: +0.006% → −0.025%
- $3.1
- Slippage, 4 orders
- −$21.86
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $67.56
- Costs to cover
- 0.319%
- Break-even
- 2.1 days
Slippage from Lighter: live order book, 3 min ago; Kraken Futures: live order book, 4 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 Lighter live order book, 3 min ago | 0.88 bp | 4.3 bp −$4 | 19.8 bp −$198 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 3.35 bp | 10.3 bp −$10 | 25.6 bp −$256 | 102.7 bp −$10.3K | doesn't fit |
TAO on 43 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 314.29 | −0.115% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 314.87 | +0.068% | $56K | $633K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.00 | +0.110% | $26.8M | $126.2M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 314.50 | −0.049% | $16.2M | $46.7M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.49 | −0.052% | $17.3M | $30.9M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 314.65 | −0.002% | $35.6M | $54.1M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 314.74 | +0.027% | $68K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.60 | −0.017% | $1K | $1.7M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.39 | −0.084% | $114K | $550K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0102% | 8h | 314.67 | +0.005% | $1K | $1.3M | 5x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Katana Perps TAO-USDShow all 43 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended TAO-USD | +0.0104% | 1h | 314.56 | −0.030% | $927K | $2.1M | 25x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 314.70 | +0.014% | $173K | $998 | 3x | as long as short |
| MEXC TAO_USDT | +0.0164% | 4h | 314.51 | −0.046% | $112.5M | $147.5M | 300x | as long as short |
| edgeX TAOUSDC | +0.0167% | 4h | 313.95 | −0.223% | $42K | $326K | 10x | as long as short |
| Binance TAOUSDT | +0.0167% | 4h | 314.88 | +0.070% | $93.5M | $507.3M | 75x | as long as short |
| Pacifica TAO | +0.0223% | 1h | 314.88 | +0.071% | $382K | $455K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0243% | 1h | 313.88 | −0.246% | $45K | $254K | 50x | as long as short |
| Bullet TAO-USD | +0.0255% | 1h | 314.61 | −0.013% | $12K | $16K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0275% | 4h | 314.54 | −0.037% | $53K | $262K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0276% | 4h | 314.56 | −0.030% | $535K | $759K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0289% | 8h | 314.87 | +0.069% | $14K | $769 | 10x | as long as short |
| dYdX TAO-USD | +0.0317% | 1h | 314.40 | −0.081% | $265K | $230K | 5x | as long as short |
| Aster TAOUSDT | +0.0360% | 4h | 314.93 | +0.087% | $1.2M | $11.5M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0373% / S −0.0114% | 1h | 314.23 | −0.135% | $379K | — | 100x | as long as short |
| Bybit TAOUSDT | +0.0377% | 4h | 315.02 | +0.116% | $69.8M | $154.0M | 50x | as long as short |
| BingX TAO-USDT | +0.0388% | 4h | 314.71 | +0.017% | — | $37.8M | — | as long as short |
| Lighter TAOlong | +0.0400% | 1h | 314.65 | long leg | $1.6M | $6.7M | 5x | |
| Phemex TAOUSDT | +0.0403% | 4h | 314.69 | +0.011% | $3.2M | $8.2M | 50x | as long as short |
| BloFin TAO-USDT | +0.0406% | 4h | 314.73 | +0.024% | $4.8M | $10.5M | 100x | as long as short |
| Nado TAO-PERP | +0.0430% | 1h | 314.95 | +0.095% | $654K | $2.0M | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0483% | 1h | 314.55 | −0.035% | $22K | $1.9M | 25x | as long as short |
| Hyperliquid TAO | +0.0504% | 1h | 314.90 | +0.078% | $93.9M | $105.7M | 5x | as long as short |
| Arcus TAO-USD | +0.0587% | 1h | 315.02 | +0.116% | $99K | $285K | 5x | as long as short |
| Variational Omni TAO | +0.0619% | 4h | 313.24 | −0.451% | $6.2M | $10.1M | — | as long as short |
| Phoenix TAO | +0.0636% | 1h | 313.90 | −0.240% | $315K | $701K | 5x | as long as short |
| RISEx TAO/USDC | +0.0694% | 1h | 314.72 | +0.022% | $435K | $665K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0700% | 1h | 314.75 | +0.031% | $362 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0728% | 1h | 314.82 | +0.052% | $1.1M | $7.4M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0752% | 1h | 315.18 | +0.167% | $3K | $2K | 5x | as long as short |
| Bulk TAO-USD | +0.0798% | 1h | 312.16 | −0.793% | $165K | $662 | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0838% | 1h | 314.78 | +0.040% | $299K | $1.1M | 10x | as long as short |
| Kraken Futures PF_TAOUSDshort | +0.0859% | 1h | 314.67 | +0.006% | $6.3M | $19.6M | 50x | |
| Injective TAO/USDC PERP | +0.4136% | 1h | 317.23 | +0.818% | $23K | $2K | 12x | as long as short |
Extended TAO-USD
Aevo TAO-PERP
MEXC TAO_USDT
edgeX TAOUSDC
Binance TAOUSDT
Pacifica TAO
ApeX Omni TAOUSDT
Bullet TAO-USD
Orderly PERP_TAO_USDC
GRVT TAO_USDT_Perp
Paradex TAO-USD-PERP
dYdX TAO-USD
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Bybit TAOUSDT
BingX TAO-USDT
Phemex TAOUSDT
BloFin TAO-USDT
Nado TAO-PERP
Deribit TAO_USDC-PERPETUAL
Hyperliquid TAO
Arcus TAO-USD
Variational Omni TAO
Phoenix TAO
RISEx TAO/USDC
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
01 Exchange TAOUSD
Bulk TAO-USD
Backpack TAO_USDC_PERP
Injective TAO/USDC PERP