Bittensor (TAO) Perpetual Futures

The open-interest-weighted TAO funding rate is +0.0058% per 8 hours, or +6.35% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from 0.0000% on dYdX to +0.0248% on Kraken. Compare all funding rates.

TAO perpetual open interest is $387.12M (1.51M TAO), down 3.03% in 24 hours. ApeX holds the most at $13.7K. That is 12.91% of Bittensor's market cap.

Bittensor is an open network that rewards participants for producing machine intelligence. Work is organised into subnets, each focused on a specific task, and validators score the output of miners. TAO is the native token used for rewards, staking and registering subnets.

Bittensor perps traded $270.64M in the last 24 hours, +15.94% on the day before. Binance leads with 31%, followed by BingX ($47.95M) and MEXC ($45.29M).

Over the last 24 hours 44.2% of accounts are long and 55.8% short, a long/short ratio of 0.79. See the long/short ratio by exchange.

TAO has a maximum supply of 21 million tokens, the same figure as Bitcoin. New tokens are issued as network rewards, and the issuance rate halves at set supply milestones. Halvings reduce the fresh supply that miners and validators may sell, which traders watch as a potential driver.

TAO is one of the most liquid AI tokens, so traders often use its perps to express a view on the whole sector. When AI news lifts sentiment, longs crowd in and the funding rate climbs, and it can flip negative quickly when the trade unwinds. Watching funding next to open interest helps separate fresh leverage from short covering.

$316.0K of TAO positions were liquidated in 24 hours, $138.9K longs and $177.1K shorts. Binance saw the most at $264.2K. See where liquidations cluster.

Yes. Holders can stake TAO to earn emissions and open a short perp position of similar size to offset price moves. The hedge is imperfect, because a short pays funding whenever the rate is positive and staking yield varies by validator and subnet.

TAO perpetual futures are derivatives contracts that track the price of TAO and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any TAO.

Funding is a payment between longs and shorts. When TAO perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

TAO perps trade on 13 tracked exchanges. By volume the largest are Binance, BingX and MEXC. Compare fees and features on the best perpetual exchanges.

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.