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Funding arb · Price arb /

TAO

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Alert: funding
Measured
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Alert: spread
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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: Kraken Futures against Popdex−0.164%7-day average +0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$500.502% of the position
Long on PopdexShort on Kraken Futures
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)+0.276%+$28 · spread now −0.164%, 7d avg +0.057%
Together, before fees+0.497%+$50 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.222% cheaper against Popdex than usual: you would sell low and buy high (spread −0.164% now, against its 7-day average of +0.057%). If the spread goes back, that is −$22 on $10k: about 46 hours of funding at the current rate (+$12 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPopdex TAOUSDT318.990.0096pay 0.0012% / 1h23m 05s$43K$592K20x
ShortKraken Futures PF_TAOUSD318.470.0481get 0.0060% / 1h23m 05s$5.7M$20.3M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Popdex. 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

Funding earned
$80.93
Price spread: −0.164% → +0.057%
−$22.17
Slippage, 4 orders
−$33.83
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$8.52
Costs to cover
0.502%
Break-even
6.3 days
Slippage from Popdex: live order book, 51 min ago; Kraken Futures: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Popdex live order book, 51 min ago1.12 bp11.8 bp −$12103.9 bp −$1,039doesn't fitdoesn't fit
Sell Kraken Futures live order book, 1 min ago7.86 bp13.6 bp −$1437.1 bp −$371104.1 bp −$10.4Kdoesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.1321%1h318.22−0.241%$169K$44K10xas long as short
dYdX TAO-USD0.0000%1h317.91−0.339%$127K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h318.34−0.205%$21K—150xas long as short
Popdex TAOUSDTlong+0.0096%1h318.99long leg$43K$592K20x
Binance TAOUSDT+0.0100%4h318.51−0.150%$91.7M$447.8M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h318.50−0.154%$26.1M$108.9M50xas long as short
Gate TAO_USDT+0.0100%4h318.40−0.185%$12.9M$50.8M50xas long as short
MEXC TAO_USDT+0.0100%4h318.36−0.197%$109.1M$135.2M300xas long as short
KuCoin TAOUSDTM+0.0100%4h318.48−0.160%$18.2M$29.2M75xas long as short
Bitget TAOUSDT+0.0100%4h318.41−0.182%$35.5M$50.9M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX TAOUSDC+0.0100%4h318.41−0.181%$40K$292K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h318.34−0.205%$526K$960K10xas long as short
Bullet TAO-USD+0.0100%1h318.61−0.120%$12K$17K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h318.45−0.169%$57K$316K10xas long as short
SunX TAO-USDT+0.0100%4h318.25−0.232%$2K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h318.82−0.053%$127K$423K20xas long as short
Phemex TAOUSDT+0.0100%4h318.44−0.172%$3.4M$7.8M50xas long as short
Aevo TAO-PERP+0.0104%1h319.02+0.009%$175K$9983xas long as short
Katana Perps TAO-USD+0.0114%8h319.01+0.006%$738$624K5xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0173% / S +0.0093%1h318.35−0.201%$458K—100xas long as short
Pacifica TAO+0.0185%1h318.49−0.157%$377K$376K10xas long as short
Arcus TAO-USD+0.0201%1h319.11+0.038%$84K$550K5xas long as short
Aster TAOUSDT+0.0225%4h318.44−0.172%$1.2M$8.6M50xas long as short
Paradex TAO-USD-PERP+0.0234%8h318.30−0.216%$14K$1K10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0241%1h318.52−0.149%$17K$1.5M25xas long as short
Polymarket Perps TAO-USD+0.0290%1h318.68−0.097%$93K$635K5xas long as short
ApeX Omni TAOUSDT+0.0316%1h317.14−0.580%$49K$267K50xas long as short
BloFin TAO-USDT+0.0340%4h318.41−0.182%$4.5M$10.8M100xas long as short
BingX TAO-USDT+0.0398%4h318.59−0.125%—$30.4M—as long as short
Variational Omni TAO+0.0460%4h318.45−0.169%$5.5M$8.7M—as long as short
Kraken Futures PF_TAOUSDshort+0.0481%1h318.47−0.164%$5.7M$20.3M50x
Phoenix TAO+0.0525%1h318.10−0.279%$333K$624K5xas long as short
Bybit TAOUSDT+0.0561%4h318.74−0.078%$65.7M$133.1M50xas long as short
Injective TAO/USDC PERP+0.0571%1h322.97+1.248%$23K$67812xas long as short
01 Exchange TAOUSD+0.0584%1h319.05+0.019%$3K$4K5xas long as short
Reya TAORUSDPERP+0.0695%1h318.51−0.152%$366—20xas long as short
Nado TAO-PERP+0.0770%1h318.65−0.106%$891K$2.0M10xas long as short
Backpack TAO_USDC_PERP+0.0832%1h318.66−0.103%$322K$818K10xas long as short
Coinbase International TAO-PERP-INTX+0.0984%1h318.63−0.113%$1.5M$6.3M50xas long as short
Extended TAO-USD+0.1120%1h318.44−0.172%$926K$2.3M25xas long as short
RISEx TAO/USDC+0.1141%1h319.13+0.042%$423K$592K5xas long as short
Lighter TAO+0.1440%1h318.97−0.006%$1.7M$6.0M5xas long as short
Hyperliquid TAO+0.2002%1h319.07+0.025%$103.2M$91.0M5xas long as short