TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0709%/8h= −77.6% APRnext payment −$0.89 per $10,000 · paid last 24h −0.228%

Price spread now: Deribit against Coinbase International−0.045%7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.721%−$72 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now −0.045%, 7d avg −0.156%

Together, before fees−0.760%−$76 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.111% dearer against Coinbase International than usual: you sell high and buy low (spread −0.045% now, against its 7-day average of −0.156%): +$11 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.721% in total) that is about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TAO-PERP-INTX	317.25	0.0984	pay 0.0123% / 1h	3m 32s	$1.5M	$6.4M	50x
Short	Deribit TAO_USDC-PERPETUAL	317.11	0.0275	get 0.0034% / 1h	3m 32s	$17K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$148.89
Price spread: −0.045% → −0.156%: $11.14
Slippage, 4 orders: −$34.16
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$188.92
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Deribit: live order book, just now.

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 Coinbase International live order book, 5 min ago	10.10 bp	15.1 bp −$15	20.6 bp −$206	doesn't fit	doesn't fit
Sell Deribit live order book, just now	2.70 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit

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
Bulk TAO-USD	−0.1228%	1h	316.14	−0.350%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.55	−0.851%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	316.94	−0.099%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.85	−0.757%	$43K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.73	−0.793%	$90.2M	$452.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.80	−0.772%	$25.6M	$108.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.20	−0.961%	$12.8M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.44	−0.886%	$100.2M	$137.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.68	−0.810%	$17.8M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.14	−0.980%	$35.0M	$51.6M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.06	−0.061%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.35	−0.283%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.24	−0.003%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.27	+0.006%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.38	+0.041%	$127K	$422K	20x	as long as short
Phemex TAOUSDT	+0.0103%	4h	317.37	+0.038%	$3.4M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.49	+0.075%	$174K	$998	3x	as long as short
Bullet TAO-USD	+0.0105%	1h	317.35	+0.032%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0117%	1h	316.47	−0.246%	$48K	$267K	50x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	314.82	−0.766%	$1K	$647K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	316.91	−0.107%	$450K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	314.69	−0.807%	$373K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	314.88	−0.747%	$83K	$550K	5x	as long as short
Aster TAOUSDT	+0.0204%	4h	315.02	−0.702%	$1.2M	$8.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	314.64	−0.821%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0267%	1h	317.77	+0.164%	$93K	$633K	5x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0275%	1h	317.11	−0.045%	$17K	$1.5M	25x
BloFin TAO-USDT	+0.0340%	4h	316.47	−0.246%	$4.4M	$10.8M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0484%	1h	317.05	−0.064%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.00	−0.079%	$332K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	315.19	−0.649%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.46	+1.012%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	−0.149%	$5.5M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.52	+0.086%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	314.44	−0.886%	—	$30.7M	—	as long as short
Bybit TAOUSDT	+0.0752%	4h	315.04	−0.697%	$64.9M	$133.8M	50x	as long as short
Nado TAO-PERP	+0.0754%	1h	314.80	−0.772%	$779K	$2.1M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0800%	1h	317.11	−0.044%	$320K	$816K	10x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0984%	1h	317.25	long leg	$1.5M	$6.4M	50x
Extended TAO-USD	+0.1104%	1h	314.44	−0.887%	$879K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	314.67	−0.813%	$418K	$593K	5x	as long as short
Lighter TAO	+0.1400%	1h	315.40	−0.583%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1745%	1h	315.23	−0.637%	$100.8M	$91.7M	5x	as long as short