Funding you earn now, next payment 08:00 UTC−0.1367%/8h= −149.7% APRnext payment −$6.84 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Phemex+0.443%7-day average +0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$540.542% of the position
Funding, last 7 days+0.501%+$50 on $10k
+Price spread, last 4 days (all we have)−0.525%−$53 · spread now +0.443%, 7d avg +0.021%
=The price spread pays, funding is against you. Bybit is 0.423% dearer against Phemex than usual: you sell high and buy low (spread +0.443% now, against its 7-day average of +0.021%): +$42 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 25 hours. Mind the row above: over the last 7 days funding on this pair paid +0.501%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.501% in total (about 26.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.84 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TAOUSDT | 313.46 | 0.1467 | pay 0.0734% / 4h | 3h 55m | $3.2M | $8.1M | 50x |
| Short | Bybit TAOUSDT | 314.85 | 0.0100 | get 0.0050% / 4h | 3h 55m | $67.8M | $149.2M | 50x |
Phemex TAOUSDT
Bybit TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phemex. 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
- −$287.08
- Price spread: +0.443% → +0.021%
- $42.27
- Slippage, 4 orders
- −$31.21
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$299.02
- Costs to cover
- 0.542%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; Bybit: live order book, 4 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, 3 min ago | 5.24 bp | 16.2 bp −$16 | 36.0 bp −$360 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 0.16 bp | 9.4 bp −$9 | 21.3 bp −$213 | 43.1 bp −$4,306 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_TAOUSD | −0.0346% | 1h | 313.43 | −0.009% | $5.5M | $20.6M | 50x | as long as short |
| Gate TAO_USDT | −0.0126% | 4h | 314.10 | +0.204% | $13.0M | $49.2M | 50x | as long as short |
| Popdex TAOUSDT | −0.0032% | 1h | 314.70 | +0.396% | $43K | $653K | 20x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 314.25 | +0.251% | $125K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 313.33 | −0.040% | $20K | — | 150x | as long as short |
| Katana Perps TAO-USD | +0.0098% | 8h | 314.50 | +0.332% | $2K | $805K | 5x | as long as short |
| Hyperliquid TAO | +0.0100% | 1h | 313.93 | +0.150% | $92.1M | $106.9M | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 314.12 | +0.210% | $358K | $412K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 314.78 | +0.421% | $90.9M | $495.8M | 75x | as long as short |
| Bybit TAOUSDTshort | +0.0100% | 4h | 314.85 | +0.443% | $67.8M | $149.2M | 50x |
Kraken Futures PF_TAOUSD
Gate TAO_USDT
Popdex TAOUSDT
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Katana Perps TAO-USD
Hyperliquid TAO
Pacifica TAO
Binance TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.80 | +0.427% | $26.0M | $120.8M | 50x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 314.80 | +0.427% | $167K | $2K | 10x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 314.58 | +0.357% | $101.0M | $143.6M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.56 | +0.032% | $17.7M | $31.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 314.25 | +0.252% | $35.1M | $56.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 314.55 | +0.348% | — | $33.0M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 314.50 | +0.333% | $42K | $312K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 313.64 | +0.056% | $532K | $955K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.57 | +0.354% | $46K | $255K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 314.63 | +0.373% | $78K | $863K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 313.49 | +0.010% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.05 | −0.131% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.90 | −0.179% | $109K | $535K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 313.57 | +0.035% | $172K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0124% | 4h | 313.61 | +0.048% | $52K | $271K | 10x | as long as short |
| Aster TAOUSDT | +0.0131% | 4h | 313.58 | +0.038% | $1.2M | $10.4M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0143% / S +0.0124% | 1h | 313.31 | −0.049% | $425K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0145% | 8h | 313.92 | +0.147% | $14K | $1K | 10x | as long as short |
| Extended TAO-USD | +0.0192% | 1h | 314.48 | +0.324% | $918K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0216% | 1h | 314.72 | +0.401% | $799K | $2.2M | 10x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 314.76 | +0.415% | $101K | $441K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0263% | 1h | 313.67 | +0.066% | $22K | $1.7M | 25x | as long as short |
| Backpack TAO_USDC_PERP | +0.0294% | 1h | 313.48 | +0.006% | $311K | $914K | 10x | as long as short |
| 01 Exchange TAOUSD | +0.0328% | 1h | 314.79 | +0.424% | $3K | $4K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 313.29 | −0.054% | $4.5M | $10.8M | 100x | as long as short |
| Variational Omni TAO | +0.0362% | 4h | 313.70 | +0.077% | $5.6M | $9.9M | — | as long as short |
| Lighter TAO | +0.0424% | 1h | 314.63 | +0.372% | $1.5M | $6.4M | 5x | as long as short |
| Phoenix TAO | +0.0581% | 1h | 315.50 | +0.651% | $314K | $695K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 313.16 | −0.097% | $360 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 314.68 | +0.388% | $435K | $653K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 314.04 | +0.185% | $1.5M | $6.6M | 50x | as long as short |
| Phemex TAOUSDTlong | +0.1467% | 4h | 313.46 | long leg | $3.2M | $8.1M | 50x | |
| Injective TAO/USDC PERP | +0.4092% | 1h | 317.67 | +1.343% | $23K | $2K | 12x | as long as short |
OKX TAO-USDT-SWAP
Bulk TAO-USD
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Extended TAO-USD
Nado TAO-PERP
Arcus TAO-USD
Deribit TAO_USDC-PERPETUAL
Backpack TAO_USDC_PERP
01 Exchange TAOUSD
BloFin TAO-USDT
Variational Omni TAO
Lighter TAO
Phoenix TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP