Funding you earn now, next payment 03:00 UTC−0.0569%/8h= −62.3% APRpaid last 24h 0.000%
Price spread now: Phemex against Deribit+0.033%7-day average −0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$113as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$810.811% of the position
Funding, last 7 days−0.321%−$32 on $10k
+Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.033%, 7d avg −0.015%
=The price spread pays, funding is against you. Phemex is 0.048% dearer against Deribit than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.015%): +$5 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.321% in total) that is about 25 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.321% in total (about -16.7% 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 | Deribit TAO_USDC-PERPETUAL | 324.14 | 0.0669 | pay 0.0084% / 1h | 33m 30s | $33K | $1.6M | 25x |
| Short | Phemex TAOUSDT | 324.25 | 0.0100 | get 0.0050% / 4h | 1h 33m | $3.5M | $7.8M | 50x |
Deribit TAO_USDC-PERPETUAL
Phemex TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Deribit. 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
- −$119.49
- Price spread: +0.033% → −0.015%
- $4.81
- Slippage, 4 orders
- −$62.06
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$195.74
- Costs to cover
- 0.811%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 1 min ago; Phemex: live order book, 5 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 Deribit live order book, 1 min ago | 5.39 bp | 10.8 bp −$11 | 17.9 bp −$179 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 15.77 bp | 32.2 bp −$32 | doesn't fit | 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 | −0.5583% | 1h | 316.49 | −2.361% | $168K | $1K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 323.76 | −0.118% | $129K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 324.11 | −0.010% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 324.52 | +0.117% | $36K | $671K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 324.45 | +0.094% | $94.6M | $476.8M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 324.30 | +0.049% | $26.7M | $119.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 324.00 | −0.044% | $13.3M | $49.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 324.19 | +0.015% | $110.5M | $140.9M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 324.23 | +0.027% | $17.9M | $31.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 324.11 | −0.010% | $36.2M | $54.4M | 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 | 322.54 | −0.493% | $36K | $302K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 324.04 | −0.031% | $88K | $789K | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 323.98 | −0.050% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 323.78 | −0.112% | $131K | $481K | 20x | as long as short |
| Phemex TAOUSDTshort | +0.0100% | 4h | 324.25 | +0.033% | $3.5M | $7.8M | 50x | |
| Aevo TAO-PERP | +0.0104% | 1h | 324.67 | +0.162% | $178K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0110% | 4h | 324.12 | −0.007% | $59K | $281K | 10x | as long as short |
| Katana Perps TAO-USD | +0.0117% | 8h | 324.37 | +0.070% | $1K | $765K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0162% / S +0.0106% | 1h | 323.94 | −0.062% | $440K | — | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0242% | 1h | 324.17 | +0.008% | $5.7M | $20.6M | 50x | as long as short |
| GRVT TAO_USDT_Perp | +0.0264% | 4h | 324.65 | +0.158% | $540K | $963K | 10x | as long as short |
| Bullet TAO-USD | +0.0312% | 1h | 324.31 | +0.052% | $12K | $18K | 20x | as long as short |
| Paradex TAO-USD-PERP | +0.0320% | 8h | 324.16 | +0.007% | $15K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 323.97 | −0.053% | $4.6M | $10.9M | 100x | as long as short |
| Aster TAOUSDT | +0.0371% | 4h | 324.42 | +0.086% | $1.2M | $9.6M | 50x | as long as short |
| Pacifica TAO | +0.0448% | 1h | 324.38 | +0.074% | $383K | $396K | 10x | as long as short |
| Phoenix TAO | +0.0504% | 1h | 320.50 | −1.124% | $335K | $707K | 5x | as long as short |
| Arcus TAO-USD | +0.0509% | 1h | 324.66 | +0.160% | $101K | $489K | 5x | as long as short |
| Nado TAO-PERP | +0.0535% | 1h | 324.34 | +0.062% | $793K | $2.2M | 10x | as long as short |
| Bybit TAOUSDT | +0.0607% | 4h | 324.52 | +0.117% | $71.4M | $142.8M | 50x | as long as short |
| BingX TAO-USDT | +0.0608% | 4h | 324.21 | +0.021% | — | $30.2M | — | as long as short |
| Deribit TAO_USDC-PERPETUALlong | +0.0669% | 1h | 324.14 | long leg | $33K | $1.6M | 25x | |
| Reya TAORUSDPERP | +0.0696% | 1h | 324.18 | +0.011% | $373 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0776% | 1h | 324.96 | +0.252% | $3K | $4K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0804% | 1h | 322.29 | −0.571% | $47K | $254K | 50x | as long as short |
| Variational Omni TAO | +0.0866% | 4h | 320.39 | −1.157% | $5.9M | $9.7M | — | as long as short |
| Lighter TAO | +0.0896% | 1h | 324.62 | +0.146% | $1.6M | $6.3M | 5x | as long as short |
| Extended TAO-USD | +0.0904% | 1h | 324.21 | +0.020% | $949K | $2.3M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 325.38 | +0.382% | $1.5M | $6.7M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.1063% | 1h | 324.63 | +0.151% | $446K | $860K | 10x | as long as short |
| RISEx TAO/USDC | +0.1159% | 1h | 324.46 | +0.097% | $460K | $628K | 5x | as long as short |
| Hyperliquid TAO | +0.1319% | 1h | 324.62 | +0.147% | $102.0M | $98.8M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4172% | 1h | 323.37 | −0.238% | $24K | $2K | 12x | as long as short |
edgeX TAOUSDC
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Kraken Futures PF_TAOUSD
GRVT TAO_USDT_Perp
Bullet TAO-USD
Paradex TAO-USD-PERP
BloFin TAO-USDT
Aster TAOUSDT
Pacifica TAO
Phoenix TAO
Arcus TAO-USD
Nado TAO-PERP
Bybit TAOUSDT
BingX TAO-USDT
Reya TAORUSDPERP
01 Exchange TAOUSD
ApeX Omni TAOUSDT
Variational Omni TAO
Lighter TAO
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Backpack TAO_USDC_PERP
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP