TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0240%/8h= +26.3% APRnext payment +$1.20 per $10,000 · paid last 24h +0.072%

Price spread now: BloFin against Phemex+0.305%59s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs+$20as 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−$700.696% of the position

Long on Phemex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.899%+$90 on $10k

Price spread, last 4 days (all we have)−0.319%−$32 · spread now +0.305%, 7d avg +0.012%

Together, before fees+0.581%+$58 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.293% dearer against Phemex than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of +0.012%. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	315.04	0.0100	pay 0.0050% / 4h	21m 35s	$3.2M	$8.1M	50x
Short	BloFin TAO-USDT	316.00	0.0340	get 0.0170% / 4h	21m 35s	$4.5M	$10.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phemex. 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 PhemexbpFee BloFinbpOrdersPrice spread, now +0.305%Rate

Funding earned: $50.4
Price spread: +0.305% → +0.012%: $29.3
Slippage, 4 orders: −$45.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $10.13
Costs to cover: 0.696%
Break-even: 5.6 days

Slippage from Phemex: live order book, 2 min ago; BloFin: live order book, 2 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 Phemex live order book, 2 min ago	13.97 bp	23.9 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	2.54 bp	12.8 bp −$13	16.6 bp −$166	35.8 bp −$3,578	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
dYdX TAO-USD	0.0000%	1h	314.98	−0.019%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.12	+0.026%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.22	+0.058%	$5.5M	$20.7M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.23	+0.060%	$43K	$668K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.07	+0.010%	$645	$799K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.23	+0.059%	$91.0M	$494.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.31	+0.086%	$68.1M	$148.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.10	+0.019%	$26.0M	$120.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.70	−0.108%	$12.9M	$50.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.95	−0.029%	$110.5M	$144.0M	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	314.92	−0.038%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.93	−0.035%	$35.2M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.07	+0.010%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.64	+0.191%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	315.78	+0.235%	$522K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.16	+0.038%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.06	+0.006%	$77K	$859K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.35	+0.097%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.22	+0.057%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.91	−0.041%	$110K	$535K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	315.04	long leg	$3.2M	$8.1M	50x
Aevo TAO-PERP	+0.0104%	1h	315.37	+0.105%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0132%	4h	315.30	+0.083%	$57K	$265K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0147% / S +0.0126%	1h	315.09	+0.017%	$420K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	314.93	−0.036%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0195%	4h	315.25	+0.067%	$1.2M	$10.3M	50x	as long as short
Nado TAO-PERP	+0.0198%	1h	314.98	−0.020%	$800K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0208%	1h	315.06	+0.005%	$922K	$2.4M	25x	as long as short
Hyperliquid TAO	+0.0257%	1h	315.29	+0.079%	$92.7M	$106.4M	5x	as long as short
01 Exchange TAOUSD	+0.0304%	1h	315.41	+0.117%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0312%	1h	315.22	+0.056%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0329%	1h	315.36	+0.101%	$30K	$1.7M	25x	as long as short
BloFin TAO-USDTshort	+0.0340%	4h	316.00	+0.305%	$4.5M	$10.9M	100x
Arcus TAO-USD	+0.0345%	1h	315.38	+0.108%	$99K	$438K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0348%	1h	315.11	+0.022%	$316K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.05	+0.003%	$359K	$412K	10x	as long as short
Variational Omni TAO	+0.0526%	4h	314.38	−0.211%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.146%	$314K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.18	+0.045%	$362	—	20x	as long as short
Bulk TAO-USD	+0.0933%	1h	314.34	−0.222%	$167K	$2K	10x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.23	+0.061%	$435K	$651K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.02	+0.311%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	318.85	+1.209%	$23K	$2K	12x	as long as short