TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0057%/8h= −6.2% APRnext payment −$0.07 per $10,000 · paid last 24h −0.011%

Price spread now: ApeX Omni against Deribit−0.741%74s7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.459% of the position

Long on Deribit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.170%+$17 on $10k

Price spread, last 4 days (all we have)+0.689%+$69 · spread now −0.741%, 7d avg −0.011%

Together, before fees+0.859%+$86 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and ApeX Omni is 0.729% cheaper against Deribit than usual: you would sell low and buy high (−$73 if the spread goes back to its 7-day average of −0.011%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.170%, so the current rate has only just turned against you. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	323.60	0.0586	pay 0.0073% / 1h	4m 01s	$25K	$1.9M	25x
Short	ApeX Omni TAOUSDT	321.20	0.0529	get 0.0066% / 1h	4m 01s	$47K	$257K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Deribit. 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 DeribitbpFee ApeX OmnibpOrdersPrice spread, now −0.741%Rate

Funding earned: −$11.96
Price spread: −0.741% → −0.011%: −$72.92
Slippage, 4 orders: −$28.89
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$130.78
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; ApeX Omni: live order book, 43 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 Deribit live order book, 5 min ago	5.93 bp	9.7 bp −$10	15.8 bp −$158	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 43 min ago	5.58 bp	13.1 bp −$13	121.9 bp −$1,219	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	−0.1195%	1h	319.01	−1.416%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	323.31	−0.087%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0028%	1h	323.34	−0.079%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.30	−0.092%	$26.9M	$128.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.90	−0.215%	$14.2M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.59	−0.002%	$17.8M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	323.40	−0.061%	$36.5M	$57.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	323.67	+0.023%	$81K	$968K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	323.21	−0.119%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	323.35	−0.076%	$118K	$566K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDT	+0.0100%	4h	323.11	−0.150%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	323.57	−0.008%	$2K	$959K	5x	as long as short
Popdex TAOUSDT	+0.0112%	1h	323.88	+0.088%	$42K	$686K	20x	as long as short
Aevo TAO-PERP	+0.0112%	1h	323.71	+0.037%	$178K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	323.57	−0.008%	$53K	$291K	10x	as long as short
edgeX TAOUSDC	+0.0123%	4h	321.43	−0.671%	$42K	$316K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0142%	1h	323.31	−0.089%	$435K	—	100x	as long as short
MEXC TAO_USDT	+0.0134%	4h	323.21	−0.119%	$103.4M	$149.1M	300x	as long as short
Binance TAOUSDT	+0.0144%	4h	323.36	−0.072%	$93.4M	$517.5M	75x	as long as short
Pacifica TAO	+0.0233%	1h	323.82	+0.070%	$368K	$421K	10x	as long as short
Nado TAO-PERP	+0.0288%	1h	323.67	+0.022%	$817K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0294%	1h	323.65	+0.016%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0299%	8h	324.05	+0.141%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0300%	4h	323.50	−0.031%	$1.3M	$10.8M	50x	as long as short
Bullet TAO-USD	+0.0325%	1h	323.67	+0.023%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0375%	4h	322.90	−0.215%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	323.14	−0.141%	—	$34.0M	—	as long as short
Bybit TAOUSDT	+0.0446%	4h	323.54	−0.017%	$70.9M	$154.5M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.489%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	323.84	+0.075%	$111K	$377K	5x	as long as short
Extended TAO-USD	+0.0496%	1h	323.44	−0.048%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	−0.030%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	−0.006%	$5.7M	$10.1M	—	as long as short
ApeX Omni TAOUSDTshort	+0.0529%	1h	321.20	−0.741%	$47K	$257K	50x
Deribit TAO_USDC-PERPETUALlong	+0.0586%	1h	323.60	long leg	$25K	$1.9M	25x
Reya TAORUSDPERP	+0.0697%	1h	323.32	−0.085%	$372	—	20x	as long as short
Lighter TAO	+0.0808%	1h	323.70	+0.033%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0811%	1h	323.31	−0.089%	$95.4M	$109.5M	5x	as long as short
01 Exchange TAOUSD	+0.0816%	1h	324.52	+0.285%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0852%	1h	323.20	−0.123%	$320K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	324.00	+0.125%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.65	+0.016%	$465K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.007%	$24K	$2K	12x	as long as short