TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0660%/8h= −72.3% APRnext payment −$3.30 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against BingX+0.165%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$690.686% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.524%−$52 on $10k

Price spread, last 3 days (all we have)−0.176%−$18 · spread now +0.165%, 7d avg +0.013%

Together, before fees−0.700%−$70 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.152% dearer against BingX than usual: you sell high and buy low (spread +0.165% now, against its 7-day average of +0.013%): +$15 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.524% in total) that is about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	314.73	0.0760	pay 0.0380% / 4h	2h 25m	—	$31.0M	—
Short	Phemex TAOUSDT	315.25	0.0100	get 0.0050% / 4h	2h 25m	$3.4M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BingX. 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 BingXbpFee PhemexbpOrdersPrice spread, now +0.165%Rate

Funding earned: −$138.6
Price spread: +0.165% → +0.013%: $15.19
Slippage, 4 orders: −$46.57
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$191.98
Costs to cover: 0.686%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Phemex: live order book, 3 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 BingX live order book, 8 min ago	1.45 bp	7.0 bp −$7	12.5 bp −$125	29.7 bp −$2,966	85.7 bp −$42.9K
Sell Phemex live order book, 3 min ago	12.79 bp	21.8 bp −$22	doesn't fit	doesn't fit	doesn't fit

TAO on 42 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-USD	0.0000%	1h	315.19	+0.145%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.12	+0.123%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.43	+0.222%	$39K	$626K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.63	−0.033%	$90.2M	$464.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.60	−0.041%	$26.0M	$112.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.90	+0.054%	$12.8M	$50.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.56	+0.264%	$109.3M	$138.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.68	+0.302%	$18.1M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.46	−0.086%	$35.1M	$53.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.67	−0.654%	$35K	$298K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni TAOUSDT	+0.0100%	1h	313.06	−0.531%	$47K	$256K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	315.43	+0.222%	$57K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.33	+0.191%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.25	+0.165%	$129K	$472K	20x	as long as short
Phemex TAOUSDTshort	+0.0100%	4h	315.25	+0.165%	$3.4M	$8.0M	50x
Aevo TAO-PERP	+0.0104%	1h	315.85	+0.354%	$173K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0116%	4h	313.32	−0.449%	$516K	$966K	10x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	315.57	+0.267%	$1K	$700K	5x	as long as short
Polymarket Perps TAO-USD	+0.0148%	1h	315.38	+0.207%	$83K	$679K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0167%	1h	315.36	+0.201%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0169% / S +0.0091%	1h	315.04	+0.100%	$441K	—	100x	as long as short
Bullet TAO-USD	+0.0227%	1h	315.43	+0.222%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0238%	4h	315.18	+0.144%	$1.3M	$9.4M	50x	as long as short
Pacifica TAO	+0.0285%	1h	315.50	+0.246%	$371K	$381K	10x	as long as short
Paradex TAO-USD-PERP	+0.0332%	8h	315.42	+0.219%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	315.73	+0.318%	$99K	$529K	5x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	312.28	−0.778%	$23K	$2K	12x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0498%	1h	315.40	+0.212%	$24K	$1.5M	25x	as long as short
Nado TAO-PERP	+0.0503%	1h	315.31	+0.184%	$780K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	312.30	−0.772%	$326K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0640%	1h	315.74	+0.321%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	315.34	+0.194%	$363	—	20x	as long as short
BingX TAO-USDTlong	+0.0760%	4h	314.73	long leg	—	$31.0M	—
Variational Omni TAO	+0.0822%	4h	315.55	+0.261%	$5.5M	$8.9M	—	as long as short
Bybit TAOUSDT	+0.0832%	4h	314.83	+0.032%	$66.0M	$137.6M	50x	as long as short
Extended TAO-USD	+0.0896%	1h	315.65	+0.292%	$903K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0906%	1h	315.66	+0.295%	$319K	$814K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	315.37	+0.203%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	315.46	+0.232%	$451K	$630K	5x	as long as short
Hyperliquid TAO	+0.1244%	1h	315.02	+0.092%	$99.6M	$94.9M	5x	as long as short
Lighter TAO	+0.1424%	1h	315.88	+0.367%	$1.6M	$6.1M	5x	as long as short
Bulk TAO-USD	+0.2752%	1h	308.95	−1.838%	$164K	$40K	10x	as long as short