TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0030%/8h= +3.2% APRnext payment +$0.04 per $10,000 · paid last 24h +0.077%

Price spread now: Phoenix against Arcus−1.025%49s7-day average +0.060% · 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—prices read too far apart to compare

costs, in and out, $10k−$550.549% of the position

Long on Arcus Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.253%+$25 on $10k

Price spread, last 4 days (all we have)+1.292%+$129 · spread now −1.025%, 7d avg +0.060%

Together, before fees+1.545%+$155 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 1.085% cheaper against Arcus than usual: you would sell low and buy high (spread −1.025% now, against its 7-day average of +0.060%). If the spread goes back, that is −$109 on $10k: about 4 months of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.253% in total) that is about 16 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus TAO-USD	319.98	0.0483	pay 0.0060% / 1h	20m 03s	$103K	$345K	5x
Short	Phoenix TAO	316.70	0.0513	get 0.0064% / 1h	20m 03s	$315K	$713K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Arcus. 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 ArcusbpFee PhoenixbpOrdersPrice spread, now −1.025%Rate

Funding earned: $6.2
Price spread: −1.025% → +0.060%: −$108.51
Slippage, 4 orders: −$43.43
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$157.24
Costs to cover: 0.549%
Break-even: 184.6 days

Slippage from Arcus: live order book, 29 min ago; Phoenix: live order book, 28 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 Arcus live order book, 29 min ago	6.85 bp	13.3 bp −$13	22.7 bp −$227	doesn't fit	doesn't fit
Sell Phoenix live order book, 28 min ago	3.18 bp	14.9 bp −$15	18.0 bp −$180	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	−0.0038%	1h	313.74	−1.950%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.02	−0.301%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0039%	1h	319.36	−0.194%	$127K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.99	+0.003%	$91.9M	$511.7M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.90	−0.025%	$26.7M	$125.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.80	−0.056%	$14.2M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	320.15	+0.053%	$100.2M	$147.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.01	+0.009%	$17.6M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.59	−0.122%	$36.0M	$57.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.37	−1.440%	$42K	$315K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	319.34	−0.200%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.73	−0.391%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.27	−0.222%	$116K	$563K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.86	−0.038%	$3.2M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.86	−0.349%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	319.57	−0.128%	$2K	$936K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	319.07	−0.284%	$53K	$290K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	319.61	−0.116%	$53K	$670K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0128% / S +0.0141%	1h	318.89	−0.340%	$428K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	319.65	−0.102%	$364K	$419K	10x	as long as short
Nado TAO-PERP	+0.0245%	1h	319.38	−0.187%	$804K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0253%	4h	319.91	−0.021%	$1.3M	$10.7M	50x	as long as short
Paradex TAO-USD-PERP	+0.0276%	8h	319.84	−0.043%	$15K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0299%	1h	319.22	−0.239%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0331%	1h	319.32	−0.206%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.38	−0.500%	$4.6M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0374%	4h	315.91	−1.271%	$537K	$923K	10x	as long as short
Bybit TAOUSDT	+0.0395%	4h	319.88	−0.031%	$69.9M	$153.2M	50x	as long as short
BingX TAO-USDT	+0.0402%	4h	320.05	+0.022%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0459%	4h	318.52	−0.457%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USDlong	+0.0483%	1h	319.98	long leg	$103K	$345K	5x
Extended TAO-USD	+0.0496%	1h	318.92	−0.330%	$906K	$2.4M	25x	as long as short
Phoenix TAOshort	+0.0513%	1h	316.70	−1.025%	$315K	$713K	5x
Deribit TAO_USDC-PERPETUAL	+0.0564%	1h	319.07	−0.285%	$15K	$1.8M	25x	as long as short
ApeX Omni TAOUSDT	+0.0574%	1h	315.18	−1.500%	$45K	$256K	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	319.47	−0.159%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0792%	1h	320.45	+0.147%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	319.32	−0.207%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0824%	1h	320.38	+0.125%	$94.0M	$109.1M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0844%	1h	320.10	+0.038%	$317K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	320.16	+0.056%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	319.72	−0.081%	$462K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	−0.156%	$23K	$2K	12x	as long as short