TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h +0.003%

Price spread now: dYdX against Popdex−0.076%7-day average −0.044% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1181.183% of the position

Long on Popdex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.153%+$15 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.076%, 7d avg −0.044%

Together, before fees+0.146%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.032% cheaper against Popdex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.044%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.153%, 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	Popdex TAOUSDT	316.97	0.0096	pay 0.0012% / 1h	55m 54s	$43K	$707K	20x
Short	dYdX TAO-USD	316.73	0	get 0.0000% / 1h	55m 54s	$126K	$85K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$20.16
Price spread: −0.076% → −0.044%: −$3.2
Slippage, 4 orders: −$101.89
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$141.65
Costs to cover: 1.183%
Break-even: never at this rate

Slippage from Popdex: live order book, 48 min ago; dYdX: live order book, 48 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, 48 min ago	0.47 bp	8.8 bp −$9	87.0 bp −$870	doesn't fit	doesn't fit
Sell dYdX live order book, 48 min ago	44.87 bp	49.9 bp −$50	57.1 bp −$571	185.6 bp −$18.6K	503.1 bp −$251.6K

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-USDshort	0.0000%	1h	316.73	−0.076%	$126K	$85K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.51	−0.145%	$22K	—	150x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	316.97	long leg	$43K	$707K	20x
OKX TAO-USDT-SWAP	+0.0100%	8h	316.70	−0.085%	$26.5M	$129.4M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	317.85	+0.277%	$169K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.60	−0.117%	$14.3M	$50.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.76	−0.066%	$17.7M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.52	−0.142%	$35.6M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.02	+0.016%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.77	−0.063%	$84K	$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	316.71	−0.082%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.35	−0.196%	$115K	$603K	20x	as long as short
Katana Perps TAO-USD	+0.0107%	8h	316.91	−0.019%	$719	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0111% / S +0.0158%	1h	316.47	−0.157%	$418K	—	100x	as long as short
Aevo TAO-PERP	+0.0120%	1h	317.00	+0.009%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0135%	4h	316.72	−0.079%	$53K	$293K	10x	as long as short
Binance TAOUSDT	+0.0165%	4h	316.91	−0.018%	$92.0M	$528.9M	75x	as long as short
MEXC TAO_USDT	+0.0168%	4h	316.95	−0.006%	$107.2M	$150.4M	300x	as long as short
edgeX TAOUSDC	+0.0169%	4h	317.60	+0.199%	$42K	$317K	10x	as long as short
Paradex TAO-USD-PERP	+0.0226%	8h	316.98	+0.003%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0242%	4h	316.86	−0.035%	—	$36.9M	—	as long as short
Bybit TAOUSDT	+0.0244%	4h	316.95	−0.006%	$69.4M	$156.2M	50x	as long as short
Bullet TAO-USD	+0.0261%	1h	316.91	−0.019%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	317.00	+0.009%	$360K	$427K	10x	as long as short
Extended TAO-USD	+0.0320%	1h	316.75	−0.070%	$904K	$2.4M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0328%	4h	317.36	+0.122%	$541K	$926K	10x	as long as short
Aster TAOUSDT	+0.0328%	4h	316.86	−0.035%	$1.3M	$11.0M	50x	as long as short
BloFin TAO-USDT	+0.0408%	4h	317.28	+0.098%	$4.7M	$10.9M	100x	as long as short
Lighter TAO	+0.0440%	1h	316.92	−0.017%	$1.6M	$6.8M	5x	as long as short
Arcus TAO-USD	+0.0473%	1h	317.23	+0.082%	$102K	$389K	5x	as long as short
Nado TAO-PERP	+0.0479%	1h	316.91	−0.020%	$785K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0502%	4h	317.43	+0.145%	$5.6M	$10.2M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0516%	1h	316.77	−0.065%	$15K	$2.0M	25x	as long as short
Phoenix TAO	+0.0567%	1h	318.10	+0.357%	$317K	$703K	5x	as long as short
Hyperliquid TAO	+0.0569%	1h	317.02	+0.016%	$93.8M	$110.1M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0574%	1h	316.88	−0.028%	$295K	$905K	10x	as long as short
Phemex TAOUSDT	+0.0607%	4h	316.65	−0.101%	$3.2M	$8.2M	50x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	317.22	+0.079%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.74	−0.071%	$364	—	20x	as long as short
RISEx TAO/USDC	+0.0831%	1h	316.89	−0.026%	$437K	$677K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0836%	1h	316.86	−0.034%	$5.9M	$21.7M	50x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	318.06	+0.344%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	320.67	+1.167%	$23K	$2K	12x	as long as short