Funding you earn now, next payment 23:00 UTC+0.0437%/8h= +47.9% APRpaid last 24h +0.082%
Price spread now: Phoenix against BingX+0.125%94s7-day average +0.152% · you sell dearer than you buy
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$470.466% of the position
Funding, last 7 days+0.121%+$12 on $10k
+Price spread, last 3 days (all we have)+0.129%+$13 · spread now +0.125%, 7d avg +0.152%
=Funding pays, the price is against you. Phoenix is 0.027% cheaper against BingX than usual: you would sell low and buy high (spread +0.125% now, against its 7-day average of +0.152%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.121% in total) that is about 37 hours. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.121% in total (about 6.3% 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 | BingX TAO-USDT | 312.11 | 0.0100 | pay 0.0050% / 4h | 5m 46s | — | $30.5M | — |
| Short | Phoenix TAO | 312.50 | 0.0537 | get 0.0067% / 1h | 5m 46s | $327K | $521K | 5x |
BingX TAO-USDT
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BingX. 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
- $91.82
- Price spread: +0.125% → +0.152%
- −$2.69
- Slippage, 4 orders
- −$29.55
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $42.58
- Costs to cover
- 0.466%
- Break-even
- 3.8 days
Slippage from BingX: live order book, 8 min ago; Phoenix: live order book, 7 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 | 7.2 bp −$7 | 13.0 bp −$130 | 27.1 bp −$2,715 | 66.3 bp −$33.2K |
| Sell Phoenix live order book, 7 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 | −0.2086% | 1h | 311.96 | −0.048% | $167K | $47K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 312.23 | +0.038% | $125K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 311.95 | −0.052% | $27K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 312.08 | −0.010% | $23K | $362 | 12x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 312.67 | +0.179% | $37K | $565K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 312.58 | +0.150% | $369K | $363K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 312.07 | −0.013% | $88.5M | $429.1M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 312.21 | +0.032% | $61.4M | $125.5M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 311.90 | −0.067% | $25.1M | $101.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 311.90 | −0.067% | $12.5M | $50.4M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Injective TAO/USDC PERP
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 312.49 | +0.122% | $110.8M | $131.7M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 312.61 | +0.160% | $18.5M | $27.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 311.79 | −0.103% | $34.8M | $47.1M | 50x | as long as short |
| BingX TAO-USDTlong | +0.0100% | 4h | 312.11 | long leg | — | $30.5M | — | |
| edgeX TAOUSDC | +0.0100% | 4h | 313.12 | +0.324% | $41K | $281K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 313.31 | +0.385% | $524K | $952K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 312.79 | +0.218% | $47K | $268K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 312.79 | +0.218% | $77K | $450K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 312.25 | +0.046% | $12K | $17K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 312.05 | −0.019% | $60K | $275K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 311.94 | −0.054% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.52 | +0.131% | $127K | $417K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 312.31 | +0.064% | $3.3M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.45 | +0.109% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0109% | 8h | 312.61 | +0.160% | $1K | $565K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0156% | 1h | 312.12 | +0.002% | $20K | $1.5M | 25x | as long as short |
| Aster TAOUSDT | +0.0164% | 4h | 312.21 | +0.031% | $1.1M | $7.9M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0071% | 1h | 311.88 | −0.073% | $445K | — | 100x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 312.84 | +0.234% | $83K | $545K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0193% | 8h | 312.53 | +0.134% | $14K | $1K | 10x | as long as short |
| Variational Omni TAO | +0.0220% | 4h | 312.31 | +0.065% | $3.9M | $7.1M | — | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 313.62 | +0.484% | $4.4M | $10.5M | 100x | as long as short |
| Nado TAO-PERP | +0.0435% | 1h | 312.44 | +0.105% | $821K | $2.0M | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0450% | 1h | 312.38 | +0.086% | $5.7M | $19.8M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.0526% | 1h | 312.66 | +0.176% | $292K | $803K | 10x | as long as short |
| Phoenix TAOshort | +0.0537% | 1h | 312.50 | +0.125% | $327K | $521K | 5x | |
| 01 Exchange TAOUSD | +0.0592% | 1h | 312.85 | +0.237% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 312.44 | +0.107% | $359 | — | 20x | as long as short |
| Extended TAO-USD | +0.0848% | 1h | 312.23 | +0.039% | $859K | $2.1M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 313.96 | +0.593% | $1.5M | $5.8M | 50x | as long as short |
| Lighter TAO | +0.1200% | 1h | 312.95 | +0.269% | $1.6M | $5.8M | 5x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 312.59 | +0.154% | $414K | $585K | 5x | as long as short |
| Hyperliquid TAO | +0.1585% | 1h | 312.56 | +0.143% | $98.0M | $84.6M | 5x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Arcus TAO-USD
Paradex TAO-USD-PERP
Variational Omni TAO
BloFin TAO-USDT
Nado TAO-PERP
Kraken Futures PF_TAOUSD
Backpack TAO_USDC_PERP
01 Exchange TAOUSD
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Lighter TAO
RISEx TAO/USDC
Hyperliquid TAO