TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0070%/8h= −7.7% APRnext payment −$0.09 per $10,000 · paid last 24h −0.121%

Price spread now: Popdex against Kraken Futures+0.174%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$500.498% of the position

Long on Kraken Futures Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.226%−$23 on $10k

Price spread, last 3 days (all we have)−0.273%−$27 · spread now +0.174%, 7d avg −0.055%

Together, before fees−0.499%−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.229% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.174% now, against its 7-day average of −0.055%): +$23 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 3 days (−0.226% in total) that is about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TAOUSD	317.25	0.0166	pay 0.0021% / 1h	14m 00s	$5.6M	$20.5M	50x
Short	Popdex TAOUSDT	317.80	0.0096	get 0.0012% / 1h	14m 00s	$43K	$637K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Kraken Futures. 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 Kraken FuturesbpFee PopdexbpOrdersPrice spread, now +0.174%Rate

Funding earned: −$14.8
Price spread: +0.174% → −0.055%: $22.88
Slippage, 4 orders: −$33.43
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$41.74
Costs to cover: 0.498%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Popdex: live order book, 55 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 Kraken Futures live order book, 5 min ago	6.50 bp	17.6 bp −$18	25.2 bp −$252	95.2 bp −$9,521	doesn't fit
Sell Popdex live order book, 55 min ago	1.74 bp	10.9 bp −$11	92.1 bp −$921	doesn't fit	doesn't fit

TAO on 42 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-USD	0.0000%	1h	317.69	+0.138%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.13	−0.038%	$10K	—	150x	as long as short
Popdex TAOUSDTshort	+0.0096%	1h	317.80	+0.174%	$43K	$637K	20x
Binance TAOUSDT	+0.0100%	4h	316.65	−0.188%	$91.3M	$469.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.20	−0.015%	$26.3M	$114.2M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.28	−0.620%	$167K	$40K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.90	−0.110%	$12.9M	$50.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.30	+0.017%	$112.7M	$139.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.44	+0.061%	$18.1M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.86	−0.122%	$35.4M	$54.0M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	314.93	−0.731%	$35K	$300K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.80	−0.771%	$47K	$253K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	317.52	+0.086%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.15	−0.031%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.39	+0.045%	$130K	$474K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.07	−0.056%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.64	+0.122%	$174K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0119%	1h	317.56	+0.099%	$79K	$683K	5x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	317.88	+0.199%	$675	$715K	5x	as long as short
Kraken Futures PF_TAOUSDlong	+0.0166%	1h	317.25	long leg	$5.6M	$20.5M	50x
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0099%	1h	317.15	−0.030%	$434K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0176%	4h	315.62	−0.513%	$520K	$954K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0250%	1h	317.18	−0.022%	$22K	$1.5M	25x	as long as short
Bullet TAO-USD	+0.0259%	1h	317.57	+0.101%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0279%	4h	317.16	−0.028%	$1.2M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	317.86	+0.193%	$373K	$384K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	317.96	+0.225%	$100K	$529K	5x	as long as short
Paradex TAO-USD-PERP	+0.0379%	8h	317.48	+0.072%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	318.67	+0.448%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0513%	1h	317.66	+0.132%	$793K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	316.00	−0.393%	$330K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	318.28	+0.325%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	317.66	+0.130%	$365	—	20x	as long as short
BingX TAO-USDT	+0.0800%	4h	317.21	−0.012%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0853%	4h	316.74	−0.160%	$67.2M	$138.7M	50x	as long as short
Variational Omni TAO	+0.0864%	4h	317.32	+0.022%	$5.5M	$8.9M	—	as long as short
Extended TAO-USD	+0.0944%	1h	317.36	+0.036%	$913K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0953%	1h	317.30	+0.017%	$321K	$810K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	318.98	+0.546%	$1.5M	$6.6M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	317.62	+0.117%	$454K	$631K	5x	as long as short
Hyperliquid TAO	+0.1366%	1h	317.62	+0.117%	$100.9M	$95.3M	5x	as long as short
Lighter TAO	+0.1432%	1h	317.69	+0.140%	$1.7M	$6.1M	5x	as long as short