TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0200%/8h= −21.9% APRnext payment −$0.25 per $10,000 · paid last 24h +0.011%

Price spread now: Pacifica against Deribit+0.064%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Deribit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.229%+$23 on $10k

Price spread, last 3 days (all we have)−0.120%−$12 · spread now +0.064%, 7d avg −0.012%

Together, before fees+0.110%+ Points / potential airdropPacifica: Active · farm board+$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.077% dearer against Deribit than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of −0.012%): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 31 hours. Mind the row above: over the last 7 days funding on this pair paid +0.229%, 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	308.88	0.0300	pay 0.0037% / 1h	3m 44s	$11K	$1.3M	25x
Short	Pacifica TAO	309.07	0.0100	get 0.0013% / 1h	3m 44s	$365K	$368K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.064%Rate

Funding earned: −$42
Price spread: +0.064% → −0.012%: $7.67
Slippage, 4 orders: −$22.96
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$72.3
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from Deribit: live order book, just now; Pacifica: live order book, 20 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	5.83 bp	9.3 bp −$9	16.5 bp −$165	doesn't fit	doesn't fit
Sell Pacifica live order book, 20 min ago	1.63 bp	8.3 bp −$8	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	−0.0601%	1h	309.73	+0.277%	$203K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	308.61	−0.086%	$130K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	308.10	−0.251%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.62	−0.407%	$43K	$528K	20x	as long as short
Pacifica TAOshort	+0.0100%	1h	309.07	+0.064%	$365K	$368K	10x
Binance TAOUSDT	+0.0100%	4h	308.96	+0.027%	$86.6M	$406.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	309.21	+0.108%	$60.1M	$119.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	309.50	+0.202%	$25.4M	$94.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	309.97	+0.354%	$138K	$584K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	308.80	−0.024%	$12.3M	$48.9M	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	308.83	−0.015%	$119.6M	$126.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.82	−0.018%	$18.9M	$26.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.39	+0.167%	$34.5M	$44.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.62	−0.083%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	308.45	−0.137%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	308.32	−0.179%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	309.18	+0.098%	$550K	$965K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.59	+0.231%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.04	−0.271%	$78K	$657K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.26	−0.198%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.80	−0.024%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.73	−0.047%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	308.89	+0.005%	$122K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	308.79	−0.028%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.71	−0.053%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	307.83	−0.339%	$1K	$462K	5x	as long as short
Aster TAOUSDT	+0.0156%	4h	308.67	−0.067%	$1.1M	$7.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	309.29	+0.134%	$14K	$1K	10x	as long as short
Phoenix TAO	+0.0234%	1h	309.10	+0.073%	$327K	$462K	5x	as long as short
Deribit TAO_USDC-PERPETUALlong	+0.0300%	1h	308.88	long leg	$11K	$1.3M	25x
Nado TAO-PERP	+0.0309%	1h	307.78	−0.354%	$850K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	308.38	−0.160%	$4.3M	$9.5M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0485% / S −0.0184%	1h	308.11	−0.249%	$452K	—	100x	as long as short
01 Exchange TAOUSD	+0.0544%	1h	308.00	−0.283%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.91	−0.313%	$354	—	20x	as long as short
Extended TAO-USD	+0.0800%	1h	309.17	+0.095%	$907K	$2.0M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0892%	1h	309.57	+0.225%	$385K	$754K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	309.87	+0.322%	$1.5M	$5.5M	50x	as long as short
Lighter TAO	+0.0984%	1h	309.14	+0.086%	$1.7M	$4.9M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1020%	1h	309.06	+0.061%	$6.4M	$19.1M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.75	−0.365%	$413K	$542K	5x	as long as short
Hyperliquid TAO	+0.1868%	1h	309.60	+0.235%	$97.0M	$77.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.73	−0.047%	$22K	$271	12x	as long as short