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: Lighter against Reya+0.086%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Lighter

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 airdropReya: Active · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.086% dearer against Reya than usual: you sell high and buy low (spread +0.086% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	317.12	0.0698	pay 0.0087% / 1h	34m 10s	$365	—	20x
Short	Lighter TAO	317.40	0.0504	get 0.0063% / 1h	34m 10s	$1.6M	$6.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Reya. 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 ReyabpFee LighterbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$40.75
Price spread: +0.086% → 0.000%: $8.55
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$38.2
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 4 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	0.87 bp	5.3 bp −$5	19.7 bp −$197	doesn't fit	doesn't fit

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	317.06	−0.019%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0036%	1h	316.04	−0.343%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.13	+0.002%	$44K	$712K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.80	−0.102%	$26.4M	$130.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.10	−0.008%	$14.5M	$51.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.95	−0.055%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.01	−0.036%	$35.7M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.70	−0.134%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.06	−0.020%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.94	−0.058%	$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	316.75	−0.118%	$115K	$604K	20x	as long as short
Katana Perps TAO-USD	+0.0107%	8h	316.90	−0.071%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0107% / S +0.0136%	1h	316.78	−0.108%	$404K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	317.29	+0.052%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0150%	4h	317.14	+0.005%	$52K	$294K	10x	as long as short
MEXC TAO_USDT	+0.0166%	4h	316.86	−0.084%	$100.1M	$151.5M	300x	as long as short
Binance TAOUSDT	+0.0167%	4h	316.86	−0.085%	$91.8M	$530.7M	75x	as long as short
edgeX TAOUSDC	+0.0179%	4h	316.75	−0.119%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	316.47	−0.206%	$14K	$1K	10x	as long as short
Bullet TAO-USD	+0.0254%	1h	317.44	+0.099%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0264%	4h	316.85	−0.087%	$69.3M	$156.7M	50x	as long as short
BingX TAO-USDT	+0.0280%	4h	317.29	+0.052%	—	$37.1M	—	as long as short
Pacifica TAO	+0.0313%	1h	316.39	−0.231%	$371K	$452K	10x	as long as short
Bulk TAO-USD	+0.0317%	1h	319.23	+0.664%	$170K	$0	10x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	317.09	−0.010%	$541K	$918K	10x	as long as short
Extended TAO-USD	+0.0320%	1h	317.12	−0.003%	$903K	$2.4M	25x	as long as short
Aster TAOUSDT	+0.0323%	4h	317.16	+0.012%	$1.3M	$11.0M	50x	as long as short
BloFin TAO-USDT	+0.0407%	4h	316.79	−0.106%	$4.7M	$10.9M	100x	as long as short
Nado TAO-PERP	+0.0473%	1h	317.06	−0.020%	$788K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.04	−0.027%	$100K	$384K	5x	as long as short
Phemex TAOUSDT	+0.0489%	4h	316.94	−0.058%	$3.2M	$8.2M	50x	as long as short
Lighter TAOshort	+0.0504%	1h	317.40	+0.086%	$1.6M	$6.9M	5x
Deribit TAO_USDC-PERPETUAL	+0.0516%	1h	317.24	+0.037%	$15K	$1.9M	25x	as long as short
Variational Omni TAO	+0.0534%	4h	316.88	−0.076%	$5.5M	$10.2M	—	as long as short
Phoenix TAO	+0.0629%	1h	317.20	+0.024%	$316K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0669%	1h	316.85	−0.087%	$292K	$906K	10x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	317.35	+0.071%	$3K	$4K	5x	as long as short
Reya TAORUSDPERPlong	+0.0698%	1h	317.12	long leg	$365	—	20x
Hyperliquid TAO	+0.0741%	1h	317.36	+0.074%	$93.8M	$110.1M	5x	as long as short
RISEx TAO/USDC	+0.0831%	1h	317.00	−0.039%	$444K	$673K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0835%	1h	317.29	+0.053%	$5.9M	$21.6M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.80	+0.213%	$1.4M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.94	+1.834%	$23K	$2K	12x	as long as short