TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0353%/8h= −38.7% APRnext payment −$0.44 per $10,000 · paid last 24h +0.036%

Price spread now: dYdX against Deribit−0.010%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1021.025% of the position

Long on Deribit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.295%+$30 on $10k

Price spread, last 3 days (all we have)−0.122%−$12 · spread now −0.010%, 7d avg −0.063%

Together, before fees+0.174%+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.053% dearer against Deribit than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.063%): +$5 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 12 hours. Mind the row above: over the last 7 days funding on this pair paid +0.295%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TAO_USDC-PERPETUAL	313.11	0.0353	pay 0.0044% / 1h	43m 47s	$19K	$1.4M	25x
Short	dYdX TAO-USD	313.08	0	get 0.0000% / 1h	43m 47s	$125K	$88K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$74.13
Price spread: −0.010% → −0.063%: $5.32
Slippage, 4 orders: −$85.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$171.27
Costs to cover: 1.025%
Break-even: never at this rate

Slippage from Deribit: live order book, just now; dYdX: live order book, 35 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, just now	2.40 bp	12.7 bp −$13	19.6 bp −$196	doesn't fit	doesn't fit
Sell dYdX live order book, 35 min ago	36.40 bp	41.5 bp −$42	64.9 bp −$649	185.3 bp −$18.5K	1078.0 bp −$539.0K

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	−0.4722%	1h	314.01	+0.287%	$168K	$48K	10x	as long as short
dYdX TAO-USDshort	0.0000%	1h	313.08	−0.010%	$125K	$88K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.65	−0.149%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.408%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.94	+0.264%	$40K	$550K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.23	+0.038%	$371K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.21	+0.032%	$88.6M	$424.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.37	+0.082%	$61.4M	$123.8M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	−0.004%	$25.1M	$100.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.80	−0.100%	$12.7M	$49.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.33	+0.070%	$119.9M	$127.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.91	−0.065%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.96	−0.049%	$34.9M	$46.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.19	+0.025%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.65	+0.170%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.17	+0.339%	$519K	$950K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	313.13	+0.006%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.83	−0.090%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.00	−0.036%	$128K	$394K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.94	−0.055%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.16	+0.016%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.74	+0.201%	$830	$539K	5x	as long as short
Bullet TAO-USD	+0.0154%	1h	313.11	−0.001%	$11K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0157%	1h	314.03	+0.293%	$77K	$521K	5x	as long as short
Arcus TAO-USD	+0.0186%	1h	313.43	+0.102%	$83K	$626K	5x	as long as short
Variational Omni TAO	+0.0188%	4h	313.49	+0.119%	$3.9M	$7.0M	—	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	313.13	+0.007%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0208%	4h	313.07	−0.013%	$1.1M	$7.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0212%	1h	314.14	+0.328%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.23	−0.282%	$4.3M	$9.8M	100x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0353%	1h	313.11	long leg	$19K	$1.4M	25x
Kraken Futures PF_TAOUSD	+0.0449%	1h	313.17	+0.017%	$5.8M	$19.8M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	312.76	−0.113%	$449K	—	100x	as long as short
Nado TAO-PERP	+0.0519%	1h	313.34	+0.074%	$834K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	−0.164%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0586%	1h	312.70	−0.132%	$300K	$799K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.16	+0.014%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	314.11	+0.319%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0880%	1h	313.12	+0.003%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	313.29	+0.057%	$1.5M	$5.7M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.89	+0.248%	$432K	$536K	5x	as long as short
Lighter TAO	+0.1432%	1h	313.61	+0.158%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.2075%	1h	313.50	+0.124%	$97.6M	$83.2M	5x	as long as short