TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0103%/8h= −11.3% APRnext payment −$0.52 per $10,000 · paid last 24h +0.011%

Price spread now: Phemex against Orderly−0.022%7-day average −0.002% · you buy dearer than you sell

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

Long on Orderly Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.342%−$34 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.022%, 7d avg −0.002%

Together, before fees−0.276%−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.021% cheaper against Orderly than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	317.03	0.0203	pay 0.0102% / 4h	3h 48m	$54K	$299K	10x
Short	Phemex TAOUSDT	316.96	0.0100	get 0.0050% / 4h	3h 48m	$3.2M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Orderly. 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 OrderlybpFee PhemexbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$21.63
Price spread: −0.022% → −0.002%: −$2.05
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$41.69
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 6 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 Orderly no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	6.63 bp	23.3 bp −$23	48.3 bp −$483	doesn't fit	doesn't fit

Orderly: 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.76	−0.085%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0078%	1h	316.80	−0.074%	$127K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.11	+0.025%	$49K	$718K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	316.83	−0.063%	$2K	$1.2M	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.00	−0.009%	$26.4M	$131.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.90	−0.041%	$14.9M	$49.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.04	+0.003%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.78	−0.079%	$35.7M	$57.8M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	317.26	+0.073%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.82	−0.066%	$2K	$1.9M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	316.41	−0.196%	$116K	$589K	20x	as long as short
Phemex TAOUSDTshort	+0.0100%	4h	316.96	−0.022%	$3.2M	$8.2M	50x
Aevo TAO-PERP	+0.0120%	1h	317.12	+0.027%	$174K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0140%	4h	316.42	−0.193%	$542K	$887K	10x	as long as short
MEXC TAO_USDT	+0.0158%	4h	317.02	−0.003%	$104.4M	$151.5M	300x	as long as short
Binance TAOUSDT	+0.0162%	4h	317.05	+0.006%	$92.8M	$531.9M	75x	as long as short
edgeX TAOUSDC	+0.0167%	4h	316.51	−0.164%	$42K	$320K	10x	as long as short
Orderly PERP_TAO_USDClong	+0.0203%	4h	317.03	long leg	$54K	$299K	10x
Bulk TAO-USD	+0.0233%	1h	316.19	−0.265%	$168K	$0	10x	as long as short
Bullet TAO-USD	+0.0239%	1h	317.14	+0.034%	$12K	$17K	20x	as long as short
Paradex TAO-USD-PERP	+0.0251%	8h	316.99	−0.013%	$14K	$876	10x	as long as short
ApeX Omni TAOUSDT	+0.0308%	1h	316.74	−0.091%	$46K	$259K	50x	as long as short
Aster TAOUSDT	+0.0322%	4h	316.91	−0.039%	$1.2M	$11.1M	50x	as long as short
Pacifica TAO	+0.0349%	1h	316.89	−0.045%	$372K	$442K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0366% / S −0.0107%	1h	316.80	−0.072%	$372K	—	100x	as long as short
Extended TAO-USD	+0.0376%	1h	316.96	−0.023%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0398%	4h	316.98	−0.016%	$4.8M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	317.22	+0.060%	$100K	$377K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0524%	1h	316.98	−0.017%	$15K	$1.9M	25x	as long as short
Bybit TAOUSDT	+0.0527%	4h	317.15	+0.038%	$69.8M	$156.2M	50x	as long as short
Hyperliquid TAO	+0.0545%	1h	317.21	+0.057%	$93.6M	$109.9M	5x	as long as short
Nado TAO-PERP	+0.0567%	1h	316.91	−0.037%	$771K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	315.60	−0.451%	$317K	$714K	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	317.39	+0.114%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0612%	4h	316.00	−0.324%	$5.6M	$10.1M	—	as long as short
Lighter TAO	+0.0696%	1h	317.25	+0.068%	$1.6M	$6.6M	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.02	−0.003%	$365	—	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0785%	1h	317.00	−0.009%	$6.0M	$21.3M	50x	as long as short
Backpack TAO_USDC_PERP	+0.0786%	1h	317.22	+0.060%	$317K	$1.0M	10x	as long as short
RISEx TAO/USDC	+0.0840%	1h	316.95	−0.026%	$449K	$670K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	317.42	+0.123%	$1.2M	$7.3M	50x	as long as short
BingX TAO-USDT	+0.1210%	4h	317.06	+0.009%	—	$37.3M	—	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	321.91	+1.539%	$23K	$2K	12x	as long as short