Funding you earn now, next payment 00:00 UTC+0.0421%/8h= +46.2% APRnext payment +$0.53 per $10,000 · paid last 24h +0.083%
Price spread now: Phoenix against Aevo−0.170%7-day average +0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs−$116as in the Funding arb table
Net, price: spread back to 7d avg − costs−$155as in the Price arb table
costs, in and out, $10k−$1311.307% of the position
Funding, last 7 days+0.142%+$14 on $10k
+Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.170%, 7d avg +0.074%
=Funding pays, the price is against you. Phoenix is 0.244% cheaper against Aevo than usual: you would sell low and buy high (spread −0.170% now, against its 7-day average of +0.074%). If the spread goes back, that is −$24 on $10k: about 46 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.142% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.142% in total (about 7.4% 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 | Aevo TAO-PERP | 317.14 | 0.0104 | pay 0.0013% / 1h | 10m 49s | $174K | $998 | 3x |
| Short | Phoenix TAO | 316.60 | 0.0525 | get 0.0066% / 1h | 10m 49s | $331K | $624K | 5x |
Aevo TAO-PERP
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Aevo. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $88.51
- Price spread: −0.170% → +0.074%
- −$24.44
- Slippage, 4 orders
- −$107.71
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$66.64
- Costs to cover
- 1.307%
- Break-even
- 12.3 days
Slippage from Aevo: live order book, 63 min ago; Phoenix: live order book, 62 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 Aevo live order book, 63 min ago | 34.18 bp | 48.7 bp −$49 | 299.5 bp −$2,995 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 62 min ago | 3.19 bp | 16.7 bp −$17 | 23.0 bp −$230 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.1821% | 1h | 318.67 | +0.482% | $169K | $40K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 315.59 | −0.489% | $126K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 316.38 | −0.238% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 316.50 | −0.202% | $42K | $598K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 316.39 | −0.237% | $90.7M | $450.2M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 316.40 | −0.233% | $25.8M | $108.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 316.40 | −0.233% | $12.8M | $51.2M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 316.73 | −0.129% | $99.1M | $136.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 316.72 | −0.132% | $18.0M | $29.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 316.36 | −0.246% | $35.2M | $51.3M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 316.13 | −0.318% | $40K | $294K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 316.09 | −0.330% | $524K | $958K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 316.60 | −0.170% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 315.83 | −0.413% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 316.20 | −0.296% | $126K | $422K | 20x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 316.76 | −0.119% | $12K | $17K | 20x | as long as short |
| Aevo TAO-PERPlong | +0.0104% | 1h | 317.14 | long leg | $174K | $998 | 3x | |
| Katana Perps TAO-USD | +0.0121% | 8h | 316.52 | −0.195% | $1K | $636K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0172% / S +0.0101% | 1h | 316.38 | −0.240% | $449K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 316.05 | −0.343% | $374K | $375K | 10x | as long as short |
| Phemex TAOUSDT | +0.0198% | 4h | 316.69 | −0.142% | $3.4M | $7.8M | 50x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 316.72 | −0.132% | $84K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0202% | 4h | 316.49 | −0.204% | $1.3M | $8.8M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0233% | 8h | 315.90 | −0.391% | $14K | $1K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0247% | 1h | 316.20 | −0.296% | $48K | $267K | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0251% | 1h | 316.62 | −0.164% | $17K | $1.5M | 25x | as long as short |
| Polymarket Perps TAO-USD | +0.0272% | 1h | 316.91 | −0.073% | $93K | $633K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 316.66 | −0.151% | $4.5M | $10.8M | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0484% | 1h | 316.80 | −0.107% | $5.7M | $20.3M | 50x | as long as short |
| Phoenix TAOshort | +0.0525% | 1h | 316.60 | −0.170% | $331K | $624K | 5x | |
| Variational Omni TAO | +0.0546% | 4h | 316.94 | −0.062% | $5.5M | $8.7M | — | as long as short |
| 01 Exchange TAOUSD | +0.0560% | 1h | 316.84 | −0.095% | $3K | $4K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 317.77 | +0.199% | $23K | $802 | 12x | as long as short |
| BingX TAO-USDT | +0.0628% | 4h | 316.37 | −0.243% | — | $30.5M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 316.86 | −0.089% | $364 | — | 20x | as long as short |
| Bybit TAOUSDT | +0.0697% | 4h | 316.67 | −0.148% | $65.2M | $133.4M | 50x | as long as short |
| Nado TAO-PERP | +0.0758% | 1h | 316.43 | −0.225% | $876K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0803% | 1h | 316.99 | −0.047% | $320K | $816K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 317.08 | −0.019% | $1.5M | $6.4M | 50x | as long as short |
| Extended TAO-USD | +0.1120% | 1h | 316.72 | −0.131% | $886K | $2.3M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 316.59 | −0.172% | $420K | $593K | 5x | as long as short |
| Lighter TAO | +0.1424% | 1h | 317.23 | +0.027% | $1.7M | $6.1M | 5x | as long as short |
| Hyperliquid TAO | +0.1836% | 1h | 316.84 | −0.095% | $101.5M | $91.8M | 5x | as long as short |
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Bullet TAO-USD
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Phemex TAOUSDT
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
ApeX Omni TAOUSDT
Deribit TAO_USDC-PERPETUAL
Polymarket Perps TAO-USD
BloFin TAO-USDT
Kraken Futures PF_TAOUSD
Variational Omni TAO
01 Exchange TAOUSD
Injective TAO/USDC PERP
BingX TAO-USDT
Reya TAORUSDPERP
Bybit TAOUSDT
Nado TAO-PERP
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO