Funding you earn now, next payment 09:00 UTC+0.0467%/8h= +51.2% APRpaid last 24h +0.102%
Price spread now: Phoenix against KuCoin+0.245%63s7-day average +0.131% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as 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−$720.715% of the position
Funding, last 7 days+0.222%+$22 on $10k
+Price spread, last 4 days (all we have)+0.275%+$28 · spread now +0.245%, 7d avg +0.131%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Phoenix is 0.114% dearer against KuCoin than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.131%. The two prices were read 63 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 0.222% in total (about 11.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin TAOUSDTM | 318.22 | 0.0100 | pay 0.0050% / 4h | 2h 18m | $17.7M | $31.8M | 75x |
| Short | Phoenix TAO | 319.00 | 0.0567 | get 0.0071% / 1h | 18m 22s | $321K | $712K | 5x |
KuCoin TAOUSDTM
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. 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
- $98.15
- Price spread: +0.245% → +0.131%
- $11.43
- Slippage, 4 orders
- −$52.51
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $38.07
- Costs to cover
- 0.715%
- Break-even
- 4.3 days
Slippage from KuCoin: live order book, 4 min ago; Phoenix: live order book, 32 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 KuCoin live order book, 4 min ago | 1.26 bp | 16.2 bp −$16 | 35.9 bp −$359 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 32 min ago | 3.13 bp | 19.7 bp −$20 | 90.0 bp −$900 | doesn't fit | doesn't fit |
TAO on 43 exchanges
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 | −0.1080% | 1h | 318.61 | +0.123% | $169K | $0 | 10x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 317.21 | −0.317% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 318.45 | +0.072% | $51K | $633K | 20x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 318.53 | +0.097% | $69.8M | $155.6M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 318.40 | +0.057% | $27.0M | $129.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.00 | −0.069% | $15.7M | $49.1M | 50x | as long as short |
| KuCoin TAOUSDTMlong | +0.0100% | 4h | 318.22 | long leg | $17.7M | $31.8M | 75x | |
| Bitget TAOUSDT | +0.0100% | 4h | 318.14 | −0.025% | $36.1M | $56.8M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 318.37 | +0.047% | $45K | $256K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 318.09 | −0.041% | $81K | $1.1M | 5x | as long as short |
Bulk TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
Bitget TAOUSDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USDShow all 43 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TAO-USDT | +0.0100% | 4h | 317.22 | −0.314% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 317.18 | −0.327% | $117K | $557K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 317.61 | −0.192% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0105% | 8h | 318.24 | +0.006% | $1K | $1.3M | 5x | as long as short |
| Aevo TAO-PERP | +0.0112% | 1h | 317.71 | −0.160% | $174K | $998 | 3x | as long as short |
| MEXC TAO_USDT | +0.0132% | 4h | 318.34 | +0.038% | $110.7M | $151.9M | 300x | as long as short |
| BingX TAO-USDT | +0.0132% | 4h | 318.18 | −0.013% | — | $39.0M | — | as long as short |
| Binance TAOUSDT | +0.0132% | 4h | 318.47 | +0.079% | $93.5M | $516.0M | 75x | as long as short |
| edgeX TAOUSDC | +0.0132% | 4h | 318.43 | +0.067% | $42K | $324K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0186% | 8h | 318.21 | −0.003% | $14K | $876 | 10x | as long as short |
| Extended TAO-USD | +0.0224% | 1h | 318.28 | +0.019% | $963K | $2.1M | 25x | as long as short |
| Orderly PERP_TAO_USDC | +0.0250% | 4h | 317.52 | −0.220% | $53K | $262K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0256% | 4h | 318.62 | +0.127% | $541K | $814K | 10x | as long as short |
| Pacifica TAO | +0.0301% | 1h | 318.30 | +0.025% | $372K | $448K | 10x | as long as short |
| Aster TAOUSDT | +0.0304% | 4h | 318.40 | +0.056% | $1.2M | $11.3M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0361% / S −0.0107% | 1h | 317.19 | −0.325% | $373K | — | 100x | as long as short |
| Arcus TAO-USD | +0.0364% | 1h | 318.58 | +0.113% | $100K | $325K | 5x | as long as short |
| BloFin TAO-USDT | +0.0372% | 4h | 317.79 | −0.135% | $4.9M | $10.5M | 100x | as long as short |
| Lighter TAO | +0.0376% | 1h | 318.31 | +0.029% | $1.6M | $6.7M | 5x | as long as short |
| Bullet TAO-USD | +0.0388% | 1h | 318.34 | +0.038% | $12K | $17K | 20x | as long as short |
| Variational Omni TAO | +0.0410% | 4h | 318.32 | +0.031% | $5.7M | $9.8M | — | as long as short |
| Nado TAO-PERP | +0.0444% | 1h | 318.54 | +0.100% | $709K | $2.0M | 10x | as long as short |
| Phoenix TAOshort | +0.0567% | 1h | 319.00 | +0.245% | $321K | $712K | 5x | |
| Deribit TAO_USDC-PERPETUAL | +0.0587% | 1h | 317.51 | −0.222% | $14K | $1.9M | 25x | as long as short |
| dYdX TAO-USD | +0.0633% | 1h | 318.03 | −0.060% | $268K | $235K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0658% | 1h | 317.86 | −0.113% | $298K | $1.1M | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0684% | 1h | 317.84 | −0.120% | $6.2M | $20.3M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 318.30 | +0.025% | $366 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0701% | 1h | 318.24 | +0.007% | $440K | $704K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0776% | 1h | 318.86 | +0.201% | $3K | $2K | 5x | as long as short |
| Hyperliquid TAO | +0.0787% | 1h | 318.48 | +0.082% | $96.1M | $108.3M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0832% | 1h | 318.47 | +0.079% | $1.1M | $7.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.3320% | 1h | 322.26 | +1.270% | $23K | $2K | 12x | as long as short |
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
Aevo TAO-PERP
MEXC TAO_USDT
BingX TAO-USDT
Binance TAOUSDT
edgeX TAOUSDC
Paradex TAO-USD-PERP
Extended TAO-USD
Orderly PERP_TAO_USDC
GRVT TAO_USDT_Perp
Pacifica TAO
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Arcus TAO-USD
BloFin TAO-USDT
Lighter TAO
Bullet TAO-USD
Variational Omni TAO
Nado TAO-PERP
Deribit TAO_USDC-PERPETUAL
dYdX TAO-USD
Backpack TAO_USDC_PERP
Kraken Futures PF_TAOUSD
Reya TAORUSDPERP
RISEx TAO/USDC
01 Exchange TAOUSD
Hyperliquid TAO
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP