Funding you earn now, next payment 03:00 UTC+0.0487%/8h= +53.3% APRpaid last 24h 0.000%
Price spread now: Deribit against Phemex−0.034%7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$810.811% of the position
Funding, last 7 days+0.321%+$32 on $10k
+Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.034%, 7d avg +0.015%
=Funding pays, the price is against you. Deribit is 0.049% cheaper against Phemex than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of +0.015%). If the spread goes back, that is −$5 on $10k: about 8 hours of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.321% in total) that is about 26 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.321% in total (about 16.7% a year). A funding rate is set anew for every payment. 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 | 324.33 | 0.0100 | pay 0.0050% / 4h | 1h 32m | $3.5M | $7.9M | 50x |
| Short | Deribit TAO_USDC-PERPETUAL | 324.22 | 0.0587 | get 0.0073% / 1h | 32m 39s | $31K | $1.6M | 25x |
Phemex TAOUSDT
Deribit TAO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $102.27
- Price spread: −0.034% → +0.015%
- −$4.93
- Slippage, 4 orders
- −$62.06
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $16.28
- Costs to cover
- 0.811%
- Break-even
- 5.9 days
Slippage from Phemex: live order book, 6 min ago; Deribit: live order book, 1 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, 6 min ago | 15.77 bp | 29.2 bp −$29 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 1 min ago | 5.39 bp | 8.9 bp −$9 | 17.4 bp −$174 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.5583% | 1h | 316.49 | −2.417% | $168K | $1K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 324.03 | −0.092% | $129K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 323.91 | −0.129% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 324.15 | −0.055% | $35K | $671K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 324.10 | −0.071% | $94.5M | $477.1M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 324.00 | −0.102% | $26.7M | $119.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 323.90 | −0.133% | $13.3M | $49.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 324.11 | −0.068% | $110.5M | $141.0M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 323.98 | −0.108% | $17.9M | $31.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 323.94 | −0.120% | $36.2M | $54.4M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 322.54 | −0.551% | $36K | $302K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 324.24 | −0.028% | $88K | $789K | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 324.16 | −0.052% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 324.26 | −0.022% | $131K | $480K | 20x | as long as short |
| Phemex TAOUSDTlong | +0.0100% | 4h | 324.33 | long leg | $3.5M | $7.9M | 50x | |
| Aevo TAO-PERP | +0.0104% | 1h | 324.87 | +0.165% | $178K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0110% | 4h | 324.15 | −0.055% | $59K | $281K | 10x | as long as short |
| Katana Perps TAO-USD | +0.0117% | 8h | 324.16 | −0.052% | $689 | $773K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0161% / S +0.0106% | 1h | 323.89 | −0.137% | $441K | — | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0242% | 1h | 324.27 | −0.018% | $5.7M | $20.6M | 50x | as long as short |
| GRVT TAO_USDT_Perp | +0.0264% | 4h | 324.65 | +0.100% | $540K | $963K | 10x | as long as short |
| Bullet TAO-USD | +0.0318% | 1h | 324.41 | +0.024% | $12K | $18K | 20x | as long as short |
| Paradex TAO-USD-PERP | +0.0322% | 8h | 324.12 | −0.064% | $15K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 324.60 | +0.083% | $4.5M | $10.9M | 100x | as long as short |
| Aster TAOUSDT | +0.0373% | 4h | 324.21 | −0.037% | $1.2M | $9.6M | 50x | as long as short |
| Pacifica TAO | +0.0448% | 1h | 324.27 | −0.019% | $383K | $396K | 10x | as long as short |
| Phoenix TAO | +0.0504% | 1h | 324.60 | +0.083% | $339K | $707K | 5x | as long as short |
| Arcus TAO-USD | +0.0509% | 1h | 324.46 | +0.040% | $101K | $489K | 5x | as long as short |
| Nado TAO-PERP | +0.0535% | 1h | 324.34 | +0.004% | $793K | $2.2M | 10x | as long as short |
| Deribit TAO_USDC-PERPETUALshort | +0.0587% | 1h | 324.22 | −0.034% | $31K | $1.6M | 25x | |
| Bybit TAOUSDT | +0.0602% | 4h | 324.25 | −0.025% | $71.2M | $143.0M | 50x | as long as short |
| BingX TAO-USDT | +0.0608% | 4h | 324.12 | −0.065% | — | $30.2M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 324.34 | +0.003% | $373 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0784% | 1h | 324.69 | +0.111% | $3K | $4K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0804% | 1h | 322.29 | −0.629% | $47K | $254K | 50x | as long as short |
| Variational Omni TAO | +0.0866% | 4h | 320.39 | −1.214% | $5.9M | $9.7M | — | as long as short |
| Lighter TAO | +0.0888% | 1h | 324.42 | +0.028% | $1.6M | $6.3M | 5x | as long as short |
| Extended TAO-USD | +0.0904% | 1h | 324.07 | −0.080% | $949K | $2.3M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 325.33 | +0.308% | $1.5M | $6.7M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.1074% | 1h | 324.63 | +0.092% | $446K | $860K | 10x | as long as short |
| RISEx TAO/USDC | +0.1159% | 1h | 324.22 | −0.034% | $460K | $628K | 5x | as long as short |
| Hyperliquid TAO | +0.1317% | 1h | 324.60 | +0.083% | $102.0M | $98.9M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4172% | 1h | 323.37 | −0.296% | $24K | $2K | 12x | as long as short |
edgeX TAOUSDC
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Kraken Futures PF_TAOUSD
GRVT TAO_USDT_Perp
Bullet TAO-USD
Paradex TAO-USD-PERP
BloFin TAO-USDT
Aster TAOUSDT
Pacifica TAO
Phoenix TAO
Arcus TAO-USD
Nado TAO-PERP
Bybit TAOUSDT
BingX TAO-USDT
Reya TAORUSDPERP
01 Exchange TAOUSD
ApeX Omni TAOUSDT
Variational Omni TAO
Lighter TAO
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Backpack TAO_USDC_PERP
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP