Settings8H · net · $10k
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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0425%/8h= +46.6% APRpaid last 24h +0.084%
Price spread now: Phoenix against Gate+0.347%7-day average +0.168% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$690.690% of the position
Long on GateShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.180%+$18 on $10k
Price spread, last 3 days (all we have)−0.179%−$18 · spread now +0.347%, 7d avg +0.168%
Together, before fees+0.001%$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phoenix is 0.179% dearer against Gate than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.168%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.180% in total (about 9.4% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate TAO_USDT316.900.0100pay 0.0050% / 4h3h 17m$12.8M$50.9M50x
ShortPhoenix TAO318.000.0525get 0.0066% / 1h17m 25s$333K$624K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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

Funding earned
$89.35
Price spread: +0.347% → +0.168%
$17.89
Slippage, 4 orders
−$47
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$38.24
Costs to cover
0.690%
Break-even
4.0 days
Slippage from Gate: live order book, 1 min ago; Phoenix: live order book, 55 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 1 min ago4.73 bp20.4 bp −$2046.8 bp −$46863.2 bp −$6,325103.7 bp −$51.8K
Sell Phoenix live order book, 55 min ago3.19 bp16.7 bp −$1723.0 bp −$230doesn't fitdoesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.1821%1h318.67+0.558%$169K$40K10xas long as short
dYdX TAO-USD0.0000%1h316.98+0.025%$127K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h316.73−0.053%$21K—150xas long as short
Popdex TAOUSDT+0.0096%1h316.82−0.025%$43K$596K20xas long as short
Binance TAOUSDT+0.0100%4h316.78−0.038%$90.8M$449.2M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h317.30+0.126%$25.8M$109.0M50xas long as short
Gate TAO_USDTlong+0.0100%4h316.90long leg$12.8M$50.9M50x
MEXC TAO_USDT+0.0100%4h316.89−0.003%$109.7M$135.9M300xas long as short
KuCoin TAOUSDTM+0.0100%4h316.79−0.035%$18.0M$29.3M75xas long as short
Bitget TAOUSDT+0.0100%4h316.87−0.009%$35.2M$51.2M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX TAOUSDC+0.0100%4h318.35+0.456%$40K$293K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h319.06+0.681%$528K$960K10xas long as short
Orderly PERP_TAO_USDC+0.0100%4h317.61+0.224%$57K$316K10xas long as short
SunX TAO-USDT+0.0100%4h317.28+0.120%$1K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h317.38+0.151%$127K$423K20xas long as short
Phemex TAOUSDT+0.0100%4h317.56+0.208%$3.4M$7.8M50xas long as short
Bullet TAO-USD+0.0100%1h316.92+0.006%$12K$17K20xas long as short
Aevo TAO-PERP+0.0104%1h317.41+0.160%$174K$9983xas long as short
Katana Perps TAO-USD+0.0110%8h316.85−0.016%$733$633K5xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0173% / S +0.0094%1h317.68+0.245%$457K—100xas long as short
Pacifica TAO+0.0185%1h317.19+0.092%$376K$375K10xas long as short
Arcus TAO-USD+0.0201%1h317.31+0.129%$84K$550K5xas long as short
Aster TAOUSDT+0.0214%4h317.67+0.243%$1.2M$8.7M50xas long as short
Deribit TAO_USDC-PERPETUAL+0.0228%1h317.42+0.165%$17K$1.5M25xas long as short
Paradex TAO-USD-PERP+0.0237%8h316.97+0.022%$14K$1K10xas long as short
Polymarket Perps TAO-USD+0.0279%1h317.22+0.101%$93K$633K5xas long as short
ApeX Omni TAOUSDT+0.0292%1h318.26+0.429%$49K$267K50xas long as short
BloFin TAO-USDT+0.0340%4h318.50+0.505%$4.5M$10.8M100xas long as short
Kraken Futures PF_TAOUSD+0.0483%1h317.65+0.236%$5.7M$20.3M50xas long as short
Variational Omni TAO+0.0515%4h318.38+0.468%$5.6M$8.7M—as long as short
Phoenix TAOshort+0.0525%1h318.00+0.347%$333K$624K5x
01 Exchange TAOUSD+0.0568%1h316.93+0.009%$3K$4K5xas long as short
Injective TAO/USDC PERP+0.0571%1h323.60+2.114%$23K$80112xas long as short
BingX TAO-USDT+0.0596%4h316.91+0.003%—$30.4M—as long as short
Bybit TAOUSDT+0.0632%4h317.31+0.129%$65.4M$133.2M50xas long as short
Reya TAORUSDPERP+0.0695%1h316.95+0.017%$364—20xas long as short
Nado TAO-PERP+0.0776%1h317.21+0.097%$882K$2.0M10xas long as short
Backpack TAO_USDC_PERP+0.0822%1h317.95+0.331%$321K$818K10xas long as short
Coinbase International TAO-PERP-INTX+0.0984%1h317.58+0.215%$1.5M$6.4M50xas long as short
Extended TAO-USD+0.1136%1h316.83−0.023%$915K$2.3M25xas long as short
RISEx TAO/USDC+0.1141%1h317.01+0.034%$420K$593K5xas long as short
Lighter TAO+0.1424%1h317.86+0.303%$1.7M$6.0M5xas long as short
Hyperliquid TAO+0.1920%1h317.60+0.221%$102.0M$91.6M5xas long as short