TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0194%/8h= +21.2% APRnext payment +$0.24 per $10,000 · paid last 24h +0.039%

Price spread now: Reya against Lighter−0.076%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Reya

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—+ Points / potential airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.076% cheaper against Lighter than usual: you would sell low and buy high (spread −0.076% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 31 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	316.59	0.0504	pay 0.0063% / 1h	34m 42s	$1.6M	$6.9M	5x
Short	Reya TAORUSDPERP	316.35	0.0698	get 0.0087% / 1h	34m 42s	$364	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.076%Rate

Funding earned: $40.75
Price spread: −0.076% → 0.000%: −$7.61
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $27.13
Costs to cover: 0.060%
Break-even: 2.3 days

Slippage unknown: Lighter: live order book, 9 min ago; Reya: no order-book sample. 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 Lighter live order book, 9 min ago	2.46 bp	4.3 bp −$4	19.7 bp −$197	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.12	−0.149%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0036%	1h	316.04	−0.175%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.51	−0.026%	$44K	$711K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.30	−0.092%	$26.3M	$130.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.40	−0.060%	$14.4M	$51.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.95	+0.113%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.11	−0.152%	$35.6M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.70	+0.034%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.30	−0.092%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.20	−0.124%	$1K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	315.86	−0.231%	$115K	$604K	20x	as long as short
Katana Perps TAO-USD	+0.0107%	8h	316.29	−0.095%	$4K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0107% / S +0.0136%	1h	316.16	−0.136%	$403K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	316.50	−0.029%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0150%	4h	316.30	−0.092%	$52K	$294K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0165%	1h	316.29	−0.094%	$15K	$1.9M	25x	as long as short
Binance TAOUSDT	+0.0167%	4h	316.46	−0.043%	$91.7M	$530.6M	75x	as long as short
MEXC TAO_USDT	+0.0170%	4h	316.65	+0.019%	$99.9M	$151.5M	300x	as long as short
edgeX TAOUSDC	+0.0179%	4h	316.75	+0.050%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0236%	8h	316.70	+0.035%	$14K	$1K	10x	as long as short
Bullet TAO-USD	+0.0261%	1h	316.46	−0.042%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0263%	4h	316.52	−0.022%	$69.3M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0280%	4h	316.53	−0.019%	—	$37.0M	—	as long as short
Pacifica TAO	+0.0313%	1h	316.66	+0.023%	$371K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.834%	$170K	$0	10x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	317.09	+0.158%	$541K	$918K	10x	as long as short
Extended TAO-USD	+0.0320%	1h	316.79	+0.061%	$903K	$2.4M	25x	as long as short
Aster TAOUSDT	+0.0323%	4h	316.44	−0.048%	$1.3M	$11.0M	50x	as long as short
BloFin TAO-USDT	+0.0407%	4h	316.79	+0.063%	$4.7M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0473%	1h	316.53	−0.019%	$102K	$381K	5x	as long as short
Nado TAO-PERP	+0.0487%	1h	316.31	−0.088%	$786K	$2.0M	10x	as long as short
Phemex TAOUSDT	+0.0495%	4h	316.60	+0.003%	$3.2M	$8.2M	50x	as long as short
Lighter TAOlong	+0.0504%	1h	316.59	long leg	$1.6M	$6.9M	5x
Variational Omni TAO	+0.0534%	4h	316.88	+0.092%	$5.5M	$10.2M	—	as long as short
Phoenix TAO	+0.0629%	1h	317.20	+0.192%	$316K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0669%	1h	316.85	+0.082%	$292K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	316.55	−0.013%	$3K	$4K	5x	as long as short
Reya TAORUSDPERPshort	+0.0698%	1h	316.35	−0.076%	$364	—	20x
Hyperliquid TAO	+0.0734%	1h	316.54	−0.016%	$93.6M	$110.1M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	316.36	−0.074%	$443K	$670K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0837%	1h	316.64	+0.014%	$5.9M	$21.6M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.20	+0.192%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+2.005%	$23K	$2K	12x	as long as short