Funding you earn now, next payment 03:00 UTC+0.0481%/8h= +52.7% APRpaid last 24h +0.090%
Price spread now: Phoenix against Binance−0.449%7-day average +0.134% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$550.549% of the position
Funding, last 7 days+0.232%+$23 on $10k
+Price spread, last 4 days (all we have)+0.957%+$96 · spread now −0.449%, 7d avg +0.134%
=Funding pays, the price is against you. Phoenix is 0.583% cheaper against Binance than usual: you would sell low and buy high (spread −0.449% now, against its 7-day average of +0.134%). If the spread goes back, that is −$58 on $10k: about 4.0 days of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.232% in total) that is about 18 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.232% in total (about 12.1% a year). A funding rate is set anew for every payment. 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 | Binance TAOUSDT | 315.92 | 0.0100 | pay 0.0050% / 4h | 47m 27s | $91.1M | $489.4M | 75x |
| Short | Phoenix TAO | 314.50 | 0.0581 | get 0.0073% / 1h | 47m 27s | $313K | $697K | 5x |
Binance TAOUSDT
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- $101.01
- Price spread: −0.449% → +0.134%
- −$58.33
- Slippage, 4 orders
- −$37.95
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$12.27
- Costs to cover
- 0.549%
- Break-even
- 7.9 days
Slippage from Binance: live order book, 11 min ago; Phoenix: live order book, 10 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 Binance live order book, 11 min ago | 0.16 bp | 7.8 bp −$8 | 15.5 bp −$155 | 42.4 bp −$4,238 | doesn't fit |
| Sell Phoenix live order book, 10 min ago | 3.17 bp | 19.2 bp −$19 | 28.6 bp −$286 | 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 | −0.0499% | 1h | 315.15 | −0.244% | $167K | $1K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 315.21 | −0.224% | $126K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 315.81 | −0.034% | $20K | — | 150x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0057% | 1h | 314.40 | −0.480% | $5.5M | $20.6M | 50x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 316.10 | +0.057% | $42K | $685K | 20x | as long as short |
| Binance TAOUSDTlong | +0.0100% | 4h | 315.92 | long leg | $91.1M | $489.4M | 75x | |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.80 | −0.038% | $26.0M | $119.5M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 315.70 | −0.070% | $12.9M | $49.4M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 316.10 | +0.057% | $105.5M | $142.3M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 316.03 | +0.035% | $17.6M | $31.6M | 75x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Kraken Futures PF_TAOUSD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTMShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 315.66 | −0.082% | $35.3M | $55.8M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 314.23 | −0.534% | $35K | $303K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.21 | −0.541% | $46K | $252K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 316.09 | +0.054% | $89K | $790K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 316.03 | +0.035% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.33 | −0.503% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.48 | −0.456% | $109K | $527K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 314.36 | −0.494% | $3.2M | $8.2M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 315.69 | −0.071% | $173K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0104% | 8h | 315.75 | −0.054% | $2K | $784K | 5x | as long as short |
| GRVT TAO_USDT_Perp | +0.0106% | 4h | 314.83 | −0.344% | $524K | $944K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0124% | 4h | 315.60 | −0.101% | $57K | $275K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0152% / S +0.0116% | 1h | 315.75 | −0.052% | $428K | — | 100x | as long as short |
| Bybit TAOUSDT | +0.0159% | 4h | 316.00 | +0.025% | $68.8M | $146.3M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0192% | 1h | 316.46 | +0.171% | $3K | $4K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0196% | 8h | 315.71 | −0.065% | $14K | $1K | 10x | as long as short |
| BingX TAO-USDT | +0.0196% | 4h | 315.89 | −0.009% | — | $30.1M | — | as long as short |
| Nado TAO-PERP | +0.0197% | 1h | 316.00 | +0.026% | $808K | $2.2M | 10x | as long as short |
| Aster TAOUSDT | +0.0214% | 4h | 316.10 | +0.056% | $1.2M | $10.1M | 50x | as long as short |
| Hyperliquid TAO | +0.0236% | 1h | 316.33 | +0.130% | $94.4M | $104.8M | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0290% | 1h | 314.95 | −0.307% | $315K | $910K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0340% | 1h | 314.54 | −0.436% | $12K | $1.6M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 314.22 | −0.538% | $4.5M | $10.8M | 100x | as long as short |
| Extended TAO-USD | +0.0344% | 1h | 316.29 | +0.118% | $922K | $2.4M | 25x | as long as short |
| Arcus TAO-USD | +0.0345% | 1h | 316.47 | +0.174% | $100K | $488K | 5x | as long as short |
| Pacifica TAO | +0.0365% | 1h | 315.68 | −0.076% | $362K | $409K | 10x | as long as short |
| Lighter TAO | +0.0392% | 1h | 315.74 | −0.056% | $1.5M | $6.4M | 5x | as long as short |
| Phoenix TAOshort | +0.0581% | 1h | 314.50 | −0.449% | $313K | $697K | 5x | |
| Variational Omni TAO | +0.0651% | 4h | 314.33 | −0.503% | $5.8M | $9.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 316.16 | +0.076% | $364 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0991% | 1h | 316.39 | +0.149% | $437K | $658K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 315.77 | −0.047% | $1.5M | $6.6M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4222% | 1h | 319.61 | +1.168% | $23K | $2K | 12x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Bybit TAOUSDT
01 Exchange TAOUSD
Paradex TAO-USD-PERP
BingX TAO-USDT
Nado TAO-PERP
Aster TAOUSDT
Hyperliquid TAO
Backpack TAO_USDC_PERP
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
Extended TAO-USD
Arcus TAO-USD
Pacifica TAO
Lighter TAO
Variational Omni TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP