TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1101%/8h= −120.5% APRnext payment −$1.38 per $10,000 · paid last 24h −0.578%

Price spread now: Phoenix against Injective−1.500%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−3.253%−$325 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Phoenix is 1.500% cheaper against Injective than usual: you would sell low and buy high (−$150 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	308.73	0.1621	pay 0.0203% / 1h	36m 27s	$22K	$264	12x
Short	Phoenix TAO	304.10	0.0521	get 0.0065% / 1h	36m 27s	$322K	$491K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Injective. 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 InjectivebpFee PhoenixbpOrdersPrice spread, now −1.500%Rate

Funding earned: −$231.14
Price spread: −1.500% → 0.000%: −$149.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$388.13
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 46 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 46 min ago	3.24 bp	18.8 bp −$19	26.2 bp −$262	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0186%	1h	303.81	−1.594%	$162K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	302.17	−2.125%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	302.25	−2.098%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	302.48	−2.024%	$44K	$535K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	302.44	−2.037%	$84.7M	$412.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	302.45	−2.034%	$58.5M	$121.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	302.40	−2.050%	$24.4M	$94.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	302.63	−1.976%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	302.30	−2.083%	$12.1M	$48.6M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	302.37	−2.060%	$109.8M	$124.8M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	302.41	−2.047%	$18.2M	$27.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	302.27	−2.092%	$33.8M	$45.9M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	302.45	−2.034%	—	$30.3M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.66	−1.642%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.48	−1.702%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.75	−1.614%	$502K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	303.30	−1.759%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	302.44	−2.037%	$77K	$600K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	302.51	−2.015%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	302.38	−2.057%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.11	−1.820%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.27	−1.769%	$121K	$363K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.12	−1.817%	$3.2M	$7.8M	50x	as long as short
Aster TAOUSDT	+0.0102%	4h	302.40	−2.049%	$1.1M	$7.7M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.48	−1.700%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	302.59	−1.989%	$619	$491K	5x	as long as short
Paradex TAO-USD-PERP	+0.0155%	8h	302.14	−2.135%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	302.44	−2.037%	$357K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	302.23	−2.104%	$431K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0239%	1h	303.18	−1.797%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.21	−1.788%	$4.2M	$9.3M	100x	as long as short
Lighter TAO	+0.0368%	1h	303.17	−1.800%	$1.6M	$5.3M	5x	as long as short
Nado TAO-PERP	+0.0377%	1h	302.48	−2.025%	$816K	$1.9M	10x	as long as short
01 Exchange TAOUSD	+0.0400%	1h	302.47	−2.028%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0423%	1h	303.70	−1.629%	$378K	$757K	10x	as long as short
Phoenix TAOshort	+0.0521%	1h	304.10	−1.500%	$322K	$491K	5x
Reya TAORUSDPERP	+0.0695%	1h	302.33	−2.072%	$348	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	302.11	−2.144%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	304.24	−1.454%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.23	−1.781%	$5.7M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1089%	1h	302.73	−1.943%	$91.9M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	302.65	−1.969%	$409K	$545K	5x	as long as short
Injective TAO/USDC PERPlong	+0.1621%	1h	308.73	long leg	$22K	$264	12x