data as of
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Price arb /

TAO

all TAO markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$39
spread now−0.078%7d average−0.074%fees + slippage, in and out−$39spread needed0.386%
Long on PhoenixShort on Lighter
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix TAO285.200.0476pay 0.0060% / 1h52m 51s$303K$159K5x
ShortLighter TAO284.980.0136get 0.0017% / 1h52m 51s$1.3M$2.1M5x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$7.78
Funding while held
−$10.21
Slippage, 4 orders
−$31.57
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Lighter: 0 bp × 2 orders
$0
Net
−$56.56
Spread needed to break even
0.386%
Slippage from Phoenix: live order book, 50 min ago; Lighter: live order book, 5 min ago.

Cost of waiting

funding view
Funding /8h
−0.0340%
Per $10,000 a day
−$10.21
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 50 min ago3.46 bp7.0 bp −$717.3 bp −$173doesn't fitdoesn't fit
Sell Lighter live order book, 5 min ago2.62 bp4.9 bp −$513.4 bp −$134doesn't fitdoesn't fit

TAO price on every exchange

against the cheapest. Click to use as the short leg.
edgeX284.65cheapestBulk284.65+0.002%ApeX Omni284.66+0.004%Bullet284.67+0.007%Popdex284.68+0.011%GMX284.71+0.022%Reya284.71+0.022%BloFin284.72+0.025%gTrade (Gains Network)284.73+0.027%Phemex284.73+0.029%SunX284.74+0.032%Orderly284.76+0.039%Katana Perps284.77+0.043%Bitget284.77+0.043%Paradex284.78+0.045%Nado284.79+0.049%Deribit284.79+0.051%Kraken Futures284.80+0.052%Variational Omni284.82+0.060%Polymarket Perps284.82+0.060%Backpack284.83+0.064%Pacifica284.84+0.068%RISEx284.86+0.073%Aster284.86+0.074%Aevo284.87+0.078%HTX284.88+0.081%dYdX284.90+0.088%Gate284.90+0.088%01 Exchange284.91+0.092%Extended284.93+0.100%KuCoin284.95+0.106%
Lighter284.98+0.116%
BingX284.98+0.117%Arcus284.99+0.120%OKX285.00+0.124%MEXC285.00+0.124%Binance285.01+0.127%Hyperliquid285.11+0.161%Bybit285.13+0.169%
Phoenix285.20+0.194%
Coinbase International285.89+0.436%Injective288.68+1.416%

TAO on 42 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
edgeX TAOUSDC−0.193%+0.0100%4h$37K$294K10xas long as short
Bulk TAO-USD−0.191%+0.0151%1h$149K$010xas long as short
ApeX Omni TAOUSDT−0.189%+0.0100%1h$43K$265K50xas long as short
Bullet TAO-USD−0.187%+0.0100%1h$10K$17K20xas long as short
Popdex TAOUSDT−0.182%+0.0096%1h$50K$444K20xas long as short
GMX TAO/USD [WBTC.b-USDC]−0.172%L +0.0173% / S +0.0141%1h$477K—100xas long as short
Reya TAORUSDPERP−0.171%+0.0693%1h$327—20xas long as short
BloFin TAO-USDT−0.168%+0.0340%4h$4.0M$6.7M100xas long as short
gTrade (Gains Network) TAO/USD−0.167%L +0.0004% / S −0.0004%1h$9K—150xas long as short
Phemex TAOUSDT−0.165%+0.0100%4h$3.0M$7.3M50xas long as short
Show all 42 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SunX TAO-USDT−0.161%+0.0100%4h$1K$1.6M20xas long as short
Orderly PERP_TAO_USDC−0.154%+0.0100%4h$51K$172K10xas long as short
Katana Perps TAO-USD−0.151%+0.0100%8h$625$317K5xas long as short
Bitget TAOUSDT−0.151%+0.0084%4h$32.2M$36.5M50xas long as short
Paradex TAO-USD-PERP−0.148%+0.0110%8h$13K$37610xas long as short
Nado TAO-PERP−0.145%+0.0124%1h$1.0M$1.2M10xas long as short
Deribit TAO_USDC-PERPETUAL−0.143%+0.0067%1h$41K$934K25xas long as short
Kraken Futures PF_TAOUSD−0.141%+0.0013%1h$5.2M$13.7M50xas long as short
Variational Omni TAO−0.134%+0.0100%4h$3.2M$4.7M—as long as short
Polymarket Perps TAO-USD−0.133%+0.0100%1h$76K$926K5xas long as short
Backpack TAO_USDC_PERP−0.130%+0.0100%1h$326K$447K10xas long as short
Pacifica TAO−0.126%+0.0100%1h$329K$368K10xas long as short
RISEx TAO/USDC−0.120%+0.0673%1h$315K$428K5xas long as short
Aster TAOUSDT−0.119%+0.0100%4h$1.6M$5.0M50xas long as short
Aevo TAO-PERP−0.116%+0.0104%1h$156K$9983xas long as short
HTX TAO-USDT−0.112%+0.0100%4h$117K$318K20xas long as short
dYdX TAO-USD−0.106%+0.0029%1h$73K$44K5xas long as short
Gate TAO_USDT−0.105%+0.0100%4h$11.2M$42.8M50xas long as short
01 Exchange TAOUSD−0.102%+0.0160%1h$3K$4K5xas long as short
Extended TAO-USD−0.094%+0.0104%1h$767K$1.3M25xas long as short
KuCoin TAOUSDTM−0.088%+0.0100%4h$18.0M$19.7M75xas long as short
Lighter TAOshort−0.078%+0.0136%1h$1.3M$2.1M5x
BingX TAO-USDT−0.077%+0.0100%4h—$28.1M—as long as short
Arcus TAO-USD−0.074%+0.0100%1h$122K$569K5xas long as short
OKX TAO-USDT-SWAP−0.070%+0.0100%8h$22.9M$65.9M50xas long as short
MEXC TAO_USDT−0.070%+0.0100%4h$106.2M$101.7M300xas long as short
Binance TAOUSDT−0.067%+0.0100%4h$78.3M$321.5M75xas long as short
Hyperliquid TAO−0.033%+0.0603%1h$79.2M$51.0M5xas long as short
Bybit TAOUSDT−0.025%+0.0100%4h$50.9M$84.3M50xas long as short
Phoenix TAOlong0.000%+0.0476%1h$303K$159K5x
Coinbase International TAO-PERP-INTX+0.242%+0.0936%1h$1.4M$3.9M50xas long as short
Injective TAO/USDC PERP+1.220%+0.3793%1h$21K$59K12xas long as short