TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0344%/8h= +37.7% APRnext payment +$0.43 per $10,000 · paid last 24h +0.110%

Price spread now: Lighter against dYdX+0.120%7-day average +0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1131.129% of the position

Long on dYdX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.120%, 7d avg +0.115%

Together, before fees+0.110%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.115%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.103% in total (about 5.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TAO-USD	314.54	0	get 0.0000% / 1h	13m 55s	$125K	$85K	5x
Short	Lighter TAO	314.92	0.0344	get 0.0043% / 1h	13m 55s	$1.5M	$6.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against dYdX. 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 dYdXbpFee LighterbpOrdersPrice spread, now +0.120%Rate

Funding earned: $72.24
Price spread: +0.120% → +0.115%: $0.52
Slippage, 4 orders: −$102.9
Fee dYdX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.15
Costs to cover: 1.129%
Break-even: 10.9 days

Slippage from dYdX: live order book, 45 min ago; Lighter: live order book, 4 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 dYdX live order book, 45 min ago	46.16 bp	51.3 bp −$51	67.7 bp −$677	139.5 bp −$13.9K	752.2 bp −$376.1K
Sell Lighter live order book, 4 min ago	1.09 bp	3.8 bp −$4	20.9 bp −$209	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
dYdX TAO-USDlong	0.0000%	1h	314.54	long leg	$125K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.49	−0.017%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.59	+0.015%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.84	+0.095%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.71	+0.054%	$644	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.74	+0.065%	$90.9M	$494.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.77	+0.073%	$67.7M	$148.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	+0.051%	$26.0M	$120.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.30	−0.076%	$12.9M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.67	+0.041%	$110.6M	$144.1M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	314.57	+0.009%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.42	−0.038%	$35.1M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.57	+0.009%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.19	+0.207%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.53	+0.316%	$522K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.11	+0.181%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.60	+0.019%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.72	+0.057%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.75	+0.067%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.63	−0.289%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.61	+0.022%	$3.2M	$8.1M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.68	+0.044%	$167K	$2K	10x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.71	+0.055%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	314.59	+0.016%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0145% / S +0.0122%	1h	314.46	−0.027%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0157%	8h	314.97	+0.137%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0176%	4h	314.63	+0.030%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	314.54	−0.001%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0215%	1h	314.71	+0.053%	$800K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0266%	1h	314.82	+0.091%	$92.6M	$106.5M	5x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	314.92	+0.121%	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.96	+0.133%	$4.6M	$10.9M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0344%	1h	314.73	+0.060%	$315K	$913K	10x	as long as short
Lighter TAOshort	+0.0344%	1h	314.92	+0.120%	$1.5M	$6.5M	5x
Arcus TAO-USD	+0.0345%	1h	315.12	+0.184%	$99K	$438K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0354%	1h	314.62	+0.027%	$23K	$1.7M	25x	as long as short
Pacifica TAO	+0.0365%	1h	314.82	+0.089%	$359K	$412K	10x	as long as short
Variational Omni TAO	+0.0461%	4h	315.17	+0.200%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.40	+0.273%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.76	+0.068%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.85	+0.097%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.12	+0.502%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.19	+1.160%	$23K	$2K	12x	as long as short