TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0029%/8h= −3.1% APRnext payment −$0.04 per $10,000 · paid last 24h +0.111%

Price spread now: Lighter against Pacifica+0.009%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now +0.009%, 7d avg +0.066%

Together, before fees+0.202%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.057% cheaper against Pacifica than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.066%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.166%, 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	Pacifica TAO	315.26	0.0365	pay 0.0046% / 1h	17m 17s	$360K	$412K	10x
Short	Lighter TAO	315.29	0.0336	get 0.0042% / 1h	17m 17s	$1.5M	$6.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Pacifica. 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 PacificabpFee LighterbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$6.01
Price spread: +0.009% → +0.066%: −$5.71
Slippage, 4 orders: −$28.1
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$47.82
Costs to cover: 0.361%
Break-even: never at this rate

Slippage from Pacifica: live order book, 41 min ago; Lighter: live order book, 6 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 Pacifica live order book, 41 min ago	3.49 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	1.71 bp	4.5 bp −$5	23.3 bp −$233	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-USD	0.0000%	1h	315.14	−0.037%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.02	−0.076%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.16	−0.032%	$5.5M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.15	−0.035%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.97	−0.092%	$645	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.19	−0.021%	$91.1M	$494.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.37	+0.035%	$68.0M	$148.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.20	−0.019%	$26.0M	$120.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.90	−0.114%	$12.9M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.10	−0.051%	$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	315.07	−0.060%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.98	−0.089%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.13	−0.041%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.17	−0.029%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.17	−0.028%	$521K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.00	−0.082%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.92	−0.108%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.24	−0.006%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.95	−0.098%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.85	−0.130%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.91	−0.111%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.30	+0.011%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	315.16	−0.032%	$57K	$265K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0146% / S +0.0127%	1h	314.99	−0.086%	$419K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0159%	8h	315.13	−0.042%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0187%	4h	315.23	−0.010%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0200%	1h	315.19	−0.021%	$922K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0204%	1h	315.03	−0.071%	$801K	$2.2M	10x	as long as short
Hyperliquid TAO	+0.0266%	1h	315.23	−0.010%	$92.7M	$106.4M	5x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	315.30	+0.013%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0330%	1h	315.25	−0.004%	$26K	$1.7M	25x	as long as short
Lighter TAOshort	+0.0336%	1h	315.29	+0.009%	$1.5M	$6.5M	5x
BloFin TAO-USDT	+0.0340%	4h	315.15	−0.035%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.52	+0.082%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0347%	1h	315.35	+0.029%	$316K	$913K	10x	as long as short
Pacifica TAOlong	+0.0365%	1h	315.26	long leg	$360K	$412K	10x
Variational Omni TAO	+0.0497%	4h	315.29	+0.008%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.40	+0.044%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.03	−0.073%	$362	—	20x	as long as short
Bulk TAO-USD	+0.0933%	1h	314.34	−0.292%	$167K	$2K	10x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.24	−0.007%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.12	+0.273%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.139%	$23K	$2K	12x	as long as short