TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0456%/8h= −49.9% APRnext payment −$0.57 per $10,000 · paid last 24h −0.175%

Price spread now: Extended against Coinbase International−0.851%7-day average −0.225% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on Coinbase International Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.470%−$47 on $10k

Price spread, last 4 days (all we have)+0.590%+$59 · spread now −0.851%, 7d avg −0.225%

Together, before fees+0.120%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Extended is 0.626% cheaper against Coinbase International than usual: you would sell low and buy high (−$63 if the spread goes back to its 7-day average of −0.225%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TAO-PERP-INTX	322.95	0.0944	pay 0.0118% / 1h	48m 39s	$1.5M	$6.9M	50x
Short	Extended TAO-USD	320.20	0.0488	get 0.0061% / 1h	48m 39s	$914K	$2.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.851%Rate

Funding earned: −$95.76
Price spread: −0.851% → −0.225%: −$62.62
Slippage, 4 orders: −$19.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$193.29
Costs to cover: 0.349%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Extended: live order book, 5 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 Coinbase International live order book, 5 min ago	5.59 bp	10.6 bp −$11	15.0 bp −$150	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	2.33 bp	6.2 bp −$6	8.0 bp −$80	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	−0.2101%	1h	320.87	−0.644%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	320.04	−0.900%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.02	−0.906%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.58	−0.734%	$40K	$694K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.30	−0.821%	$26.6M	$129.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.20	−0.852%	$14.2M	$51.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.40	−0.790%	$17.5M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.09	−0.886%	$36.0M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.78	−0.672%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.32	−0.814%	$76K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	320.06	−0.895%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.91	−0.941%	$117K	$585K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.33	−0.811%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.32	−0.814%	$2K	$992K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.49	−0.762%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0122%	4h	320.39	−0.793%	$53K	$293K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0122% / S +0.0155%	1h	320.03	−0.904%	$433K	—	100x	as long as short
edgeX TAOUSDC	+0.0148%	4h	320.94	−0.622%	$42K	$316K	10x	as long as short
MEXC TAO_USDT	+0.0152%	4h	320.51	−0.756%	$105.1M	$149.4M	300x	as long as short
Binance TAOUSDT	+0.0153%	4h	320.52	−0.754%	$92.9M	$525.7M	75x	as long as short
Paradex TAO-USD-PERP	+0.0264%	8h	320.51	−0.755%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0309%	4h	320.64	−0.716%	$1.3M	$10.9M	50x	as long as short
BingX TAO-USDT	+0.0366%	4h	320.33	−0.811%	—	$34.3M	—	as long as short
Bullet TAO-USD	+0.0371%	1h	320.45	−0.775%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0385%	4h	320.50	−0.759%	$70.0M	$155.6M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0391%	1h	320.31	−0.819%	$14K	$1.9M	25x	as long as short
BloFin TAO-USDT	+0.0393%	4h	320.43	−0.780%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0424%	4h	322.11	−0.261%	$548K	$948K	10x	as long as short
Extended TAO-USDshort	+0.0488%	1h	320.20	−0.851%	$914K	$2.4M	25x
Pacifica TAO	+0.0525%	1h	320.60	−0.728%	$365K	$423K	10x	as long as short
Variational Omni TAO	+0.0536%	4h	321.98	−0.301%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	321.70	−0.387%	$320K	$709K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0613%	1h	320.56	−0.740%	$318K	$899K	10x	as long as short
Nado TAO-PERP	+0.0617%	1h	321.21	−0.538%	$803K	$2.2M	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.73	−0.687%	$103K	$394K	5x	as long as short
Hyperliquid TAO	+0.0663%	1h	320.68	−0.703%	$94.8M	$109.9M	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	320.69	−0.700%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	320.45	−0.775%	$369	—	20x	as long as short
Lighter TAO	+0.0920%	1h	320.79	−0.669%	$1.5M	$6.6M	5x	as long as short
Coinbase International TAO-PERP-INTXlong	+0.0944%	1h	322.95	long leg	$1.5M	$6.9M	50x
RISEx TAO/USDC	+0.1077%	1h	320.34	−0.809%	$461K	$665K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1152%	1h	320.47	−0.767%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+1.641%	$24K	$2K	12x	as long as short