TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0425%/8h= +46.5% APRnext payment +$0.53 per $10,000 · paid last 24h −0.004%

Price spread now: Deribit against Popdex+0.009%7-day average +0.026% · 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−$40as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Popdex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.024%−$2 on $10k

Price spread, last 3 days (all we have)+0.066%+$7 · spread now +0.009%, 7d avg +0.026%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.024% in total (about -2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.53 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	Popdex TAOUSDT	318.33	0.0096	pay 0.0012% / 1h	15m 11s	$41K	$636K	20x
Short	Deribit TAO_USDC-PERPETUAL	318.36	0.0521	get 0.0065% / 1h	15m 11s	$22K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Popdex. 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 PopdexbpFee DeribitbpOrdersPrice spread, now +0.009%Rate

Funding earned: $89.25
Price spread: +0.009% → +0.026%: −$1.69
Slippage, 4 orders: −$24.82
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $49.34
Costs to cover: 0.382%
Break-even: 3.1 days

Slippage from Popdex: live order book, 54 min ago; Deribit: 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 Popdex live order book, 54 min ago	1.74 bp	8.7 bp −$9	89.2 bp −$892	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	3.96 bp	9.3 bp −$9	17.3 bp −$173	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	318.20	−0.041%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	317.96	−0.116%	$10K	—	150x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	318.33	long leg	$41K	$636K	20x
Binance TAOUSDT	+0.0100%	4h	317.93	−0.126%	$91.6M	$468.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.00	−0.104%	$26.3M	$114.4M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.28	−0.958%	$167K	$40K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.60	−0.229%	$13.0M	$50.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.85	−0.151%	$112.7M	$139.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.31	−0.006%	$18.2M	$30.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.77	−0.176%	$35.5M	$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	−1.068%	$35K	$300K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.80	−1.109%	$47K	$253K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.36	+0.009%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.12	−0.066%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	317.89	−0.138%	$130K	$474K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.85	−0.151%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.69	+0.113%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	318.83	+0.157%	$1K	$715K	5x	as long as short
Polymarket Perps TAO-USD	+0.0127%	1h	318.52	+0.060%	$80K	$683K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0166%	1h	318.13	−0.063%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0168% / S +0.0099%	1h	317.95	−0.119%	$435K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0176%	4h	315.62	−0.851%	$520K	$954K	10x	as long as short
Bullet TAO-USD	+0.0259%	1h	318.36	+0.010%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0279%	4h	318.11	−0.069%	$1.2M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	318.84	+0.159%	$375K	$384K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	318.92	+0.185%	$100K	$529K	5x	as long as short
Paradex TAO-USD-PERP	+0.0376%	8h	318.73	+0.125%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	318.67	+0.107%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0503%	1h	318.05	−0.089%	$794K	$2.1M	10x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0521%	1h	318.36	+0.009%	$22K	$1.5M	25x
Phoenix TAO	+0.0588%	1h	316.00	−0.732%	$330K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	319.07	+0.232%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	318.03	−0.094%	$366	—	20x	as long as short
BingX TAO-USDT	+0.0800%	4h	317.92	−0.129%	—	$30.9M	—	as long as short
Bybit TAOUSDT	+0.0850%	4h	318.05	−0.088%	$67.5M	$138.6M	50x	as long as short
Variational Omni TAO	+0.0864%	4h	317.32	−0.318%	$5.5M	$8.9M	—	as long as short
Extended TAO-USD	+0.0944%	1h	318.18	−0.046%	$913K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0950%	1h	318.14	−0.060%	$321K	$810K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	318.88	+0.173%	$1.5M	$6.6M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	318.64	+0.099%	$455K	$631K	5x	as long as short
Hyperliquid TAO	+0.1362%	1h	318.38	+0.016%	$101.2M	$95.3M	5x	as long as short
Lighter TAO	+0.1432%	1h	318.60	+0.084%	$1.7M	$6.1M	5x	as long as short