TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0168%/8h= +18.4% APRnext payment +$0.21 per $10,000 · paid last 24h +0.112%

Price spread now: Coinbase International against Lighter−0.006%7-day average +0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.373%+$37 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.006%, 7d avg +0.110%

Together, before fees+0.503%+ Points / potential airdropLighter: Season 3 · farm board+$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.116% cheaper against Lighter than usual: you would sell low and buy high (spread −0.006% now, against its 7-day average of +0.110%). If the spread goes back, that is −$12 on $10k: about 2.3 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TAO	323.24	0.0776	pay 0.0097% / 1h	24m 40s	$1.6M	$6.8M	5x
Short	Coinbase International TAO-PERP-INTX	323.22	0.0944	get 0.0118% / 1h	24m 40s	$1.5M	$6.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.006%Rate

Funding earned: $35.28
Price spread: −0.006% → +0.110%: −$11.64
Slippage, 4 orders: −$30.91
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$17.27
Costs to cover: 0.409%
Break-even: 10.4 days

Slippage from Lighter: live order book, 14 min ago; Coinbase International: 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 Lighter live order book, 14 min ago	4.80 bp	6.9 bp −$7	21.7 bp −$217	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	5.94 bp	11.2 bp −$11	17.8 bp −$178	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	−0.1995%	1h	319.47	−1.167%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	321.65	−0.494%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	321.77	−0.456%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	323.21	−0.010%	$44K	$705K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	322.80	−0.136%	$26.9M	$130.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.70	−0.167%	$14.4M	$52.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	323.09	−0.047%	$18.1M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.71	−0.164%	$36.3M	$58.1M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.82	−1.058%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.88	−0.112%	$86K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	322.75	−0.152%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	322.28	−0.297%	$117K	$597K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	323.19	−0.016%	$1K	$1.0M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0118% / S +0.0150%	1h	320.83	−0.745%	$429K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	323.08	−0.049%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	323.03	−0.065%	$53K	$292K	10x	as long as short
edgeX TAOUSDC	+0.0172%	4h	320.52	−0.843%	$42K	$317K	10x	as long as short
MEXC TAO_USDT	+0.0182%	4h	322.98	−0.081%	$108.0M	$150.7M	300x	as long as short
Binance TAOUSDT	+0.0198%	4h	322.97	−0.084%	$93.5M	$529.7M	75x	as long as short
Phemex TAOUSDT	+0.0245%	4h	322.92	−0.099%	$3.3M	$8.1M	50x	as long as short
Paradex TAO-USD-PERP	+0.0288%	8h	323.26	+0.005%	$15K	$1K	10x	as long as short
BingX TAO-USDT	+0.0324%	4h	322.96	−0.087%	—	$34.6M	—	as long as short
Bybit TAOUSDT	+0.0347%	4h	323.06	−0.056%	$71.0M	$156.0M	50x	as long as short
Aster TAOUSDT	+0.0360%	4h	323.02	−0.069%	$1.3M	$10.9M	50x	as long as short
Bullet TAO-USD	+0.0401%	1h	323.08	−0.049%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0406%	4h	321.35	−0.587%	$547K	$940K	10x	as long as short
BloFin TAO-USDT	+0.0422%	4h	323.00	−0.075%	$4.7M	$11.2M	100x	as long as short
Extended TAO-USD	+0.0464%	1h	322.90	−0.104%	$918K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0518%	1h	322.87	−0.116%	$804K	$2.0M	10x	as long as short
Pacifica TAO	+0.0525%	1h	323.13	−0.033%	$368K	$423K	10x	as long as short
Variational Omni TAO	+0.0538%	4h	322.25	−0.307%	$5.7M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	321.30	−0.600%	$320K	$709K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	323.28	+0.012%	$104K	$389K	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	323.65	+0.127%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0668%	1h	323.43	+0.058%	$95.6M	$109.9M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	322.16	−0.334%	$370	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0741%	1h	323.03	−0.065%	$301K	$905K	10x	as long as short
Lighter TAOlong	+0.0776%	1h	323.24	long leg	$1.6M	$6.8M	5x
Deribit TAO_USDC-PERPETUAL	+0.0920%	1h	323.06	−0.056%	$15K	$1.9M	25x	as long as short
Coinbase International TAO-PERP-INTXshort	+0.0944%	1h	323.22	−0.006%	$1.5M	$6.9M	50x
RISEx TAO/USDC	+0.1077%	1h	323.03	−0.064%	$463K	$666K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1143%	1h	323.06	−0.055%	$6.0M	$21.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.44	+0.062%	$24K	$2K	12x	as long as short