TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.122%

Price spread now: Pacifica against Lighter+0.010%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.010%, 7d avg −0.064%

Together, before fees−0.245%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.074% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	314.24	0.0232	pay 0.0029% / 1h	6m 37s	$1.5M	$6.8M	5x
Short	Pacifica TAO	314.28	0.0240	get 0.0030% / 1h	6m 37s	$372K	$455K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Lighter. 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 LighterbpFee PacificabpOrdersPrice spread, now +0.010%Rate

Funding earned: $1.78
Price spread: +0.010% → −0.064%: $7.41
Slippage, 4 orders: −$25.05
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$23.86
Costs to cover: 0.331%
Break-even: 100.8 days

Slippage from Lighter: live order book, 5 min ago; Pacifica: live order book, 40 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, 5 min ago	1.54 bp	5.8 bp −$6	18.5 bp −$185	doesn't fit	doesn't fit
Sell Pacifica live order book, 40 min ago	2.21 bp	9.8 bp −$10	doesn't fit	doesn't fit	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	314.40	+0.050%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.66	+0.132%	$54K	$636K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	+0.145%	$26.8M	$127.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.00	−0.078%	$16.0M	$48.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.16	−0.027%	$17.4M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.11	−0.043%	$35.6M	$55.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.02	+0.247%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.16	−0.027%	$69K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.64	−0.192%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.92	−0.103%	$112K	$557K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0102%	8h	314.47	+0.072%	$1K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	314.40	+0.048%	$947K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0120%	1h	314.02	−0.070%	$172K	$998	3x	as long as short
edgeX TAOUSDC	+0.0143%	4h	314.89	+0.205%	$42K	$324K	10x	as long as short
MEXC TAO_USDT	+0.0152%	4h	314.33	+0.027%	$110.5M	$150.7M	300x	as long as short
Binance TAOUSDT	+0.0153%	4h	314.66	+0.132%	$93.3M	$510.6M	75x	as long as short
Phemex TAOUSDT	+0.0204%	4h	314.03	−0.068%	$3.2M	$8.2M	50x	as long as short
Lighter TAOlong	+0.0232%	1h	314.24	long leg	$1.5M	$6.8M	5x
Pacifica TAOshort	+0.0240%	1h	314.28	+0.010%	$372K	$455K	10x
GRVT TAO_USDT_Perp	+0.0256%	4h	314.85	+0.193%	$535K	$786K	10x	as long as short
Paradex TAO-USD-PERP	+0.0261%	8h	314.39	+0.046%	$14K	$876	10x	as long as short
BingX TAO-USDT	+0.0264%	4h	314.27	+0.008%	—	$37.9M	—	as long as short
Orderly PERP_TAO_USDC	+0.0267%	4h	313.88	−0.116%	$52K	$262K	10x	as long as short
Bybit TAOUSDT	+0.0285%	4h	314.71	+0.148%	$69.2M	$155.6M	50x	as long as short
Bullet TAO-USD	+0.0304%	1h	314.03	−0.068%	$12K	$16K	20x	as long as short
Aster TAOUSDT	+0.0313%	4h	314.65	+0.131%	$1.2M	$11.4M	50x	as long as short
Nado TAO-PERP	+0.0345%	1h	314.71	+0.149%	$669K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0358% / S −0.0107%	1h	313.75	−0.156%	$369K	—	100x	as long as short
BloFin TAO-USDT	+0.0392%	4h	314.44	+0.062%	$4.8M	$10.5M	100x	as long as short
dYdX TAO-USD	+0.0407%	1h	313.80	−0.142%	$265K	$230K	5x	as long as short
Variational Omni TAO	+0.0519%	4h	314.56	+0.102%	$5.7M	$10.0M	—	as long as short
Hyperliquid TAO	+0.0526%	1h	314.42	+0.056%	$94.3M	$104.9M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0553%	1h	313.75	−0.157%	$29K	$1.9M	25x	as long as short
01 Exchange TAOUSD	+0.0600%	1h	315.07	+0.263%	$3K	$2K	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	314.69	+0.142%	$99K	$312K	5x	as long as short
Phoenix TAO	+0.0650%	1h	315.00	+0.241%	$317K	$710K	5x	as long as short
RISEx TAO/USDC	+0.0666%	1h	314.42	+0.056%	$439K	$655K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	315.38	+0.362%	$1.1M	$7.6M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	314.69	+0.141%	$362	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0750%	1h	314.24	−0.001%	$295K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.0796%	1h	315.70	+0.462%	$167K	$662	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0938%	1h	314.02	−0.072%	$6.3M	$19.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	319.29	+1.606%	$23K	$2K	12x	as long as short