TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0006%/8h= +0.7% APRnext payment +$0.03 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against Phemex−0.290%77s7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as 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−$590.592% of the position

Long on Phemex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.487%+$49 on $10k

Price spread, last 4 days (all we have)+0.220%+$22 · spread now −0.290%, 7d avg −0.024%

Together, before fees+0.707%+ Points / potential airdropGRVT: Active · farm board+$71 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.266% cheaper against Phemex than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.024%. The two prices were read 77 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	315.75	0.0100	pay 0.0050% / 4h	44m 14s	$3.2M	$8.1M	50x
Short	GRVT TAO_USDT_Perp	314.83	0.0106	get 0.0053% / 4h	44m 14s	$524K	$944K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.290%Rate

Funding earned: $1.26
Price spread: −0.290% → −0.024%: −$26.57
Slippage, 4 orders: −$38.21
Fee Phemex: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$84.53
Costs to cover: 0.592%
Break-even: 476.6 days

Slippage from Phemex: live order book, 5 min ago; GRVT: live order book, 14 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, 5 min ago	6.04 bp	19.6 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 14 min ago	1.59 bp	9.0 bp −$9	11.8 bp −$118	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	−0.0482%	1h	315.13	−0.196%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	315.83	+0.025%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.94	+0.061%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.92	+0.055%	$5.6M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.25	+0.158%	$42K	$686K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.96	+0.067%	$91.1M	$489.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.90	+0.048%	$26.0M	$119.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.80	+0.016%	$12.9M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.97	+0.070%	$105.6M	$142.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.77	+0.006%	$17.5M	$31.6M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	315.71	−0.013%	$35.3M	$55.8M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.77	+0.006%	$35K	$304K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.84	+0.029%	$46K	$252K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.02	+0.086%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	316.27	+0.165%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.17	+0.133%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.85	+0.032%	$109K	$527K	20x	as long as short
Phemex TAOUSDTlong	+0.0100%	4h	315.75	long leg	$3.2M	$8.1M	50x
Katana Perps TAO-USD	+0.0101%	8h	315.84	+0.029%	$647	$785K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.98	+0.074%	$174K	$998	3x	as long as short
GRVT TAO_USDT_Perpshort	+0.0106%	4h	314.83	−0.290%	$524K	$944K	10x
Orderly PERP_TAO_USDC	+0.0125%	4h	316.03	+0.089%	$57K	$275K	10x	as long as short
Bybit TAOUSDT	+0.0145%	4h	315.94	+0.060%	$68.7M	$146.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0152% / S +0.0116%	1h	315.99	+0.075%	$429K	—	100x	as long as short
BingX TAO-USDT	+0.0184%	4h	315.90	+0.048%	—	$30.1M	—	as long as short
Paradex TAO-USD-PERP	+0.0192%	8h	315.91	+0.051%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0194%	1h	316.09	+0.108%	$808K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0221%	4h	315.95	+0.064%	$1.2M	$10.1M	50x	as long as short
01 Exchange TAOUSD	+0.0224%	1h	316.44	+0.219%	$3K	$4K	5x	as long as short
Hyperliquid TAO	+0.0269%	1h	316.36	+0.193%	$94.2M	$105.1M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0310%	1h	315.96	+0.067%	$316K	$910K	10x	as long as short
Extended TAO-USD	+0.0320%	1h	315.90	+0.046%	$922K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.23	+0.152%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	316.53	+0.247%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	316.04	+0.092%	$362K	$409K	10x	as long as short
Lighter TAO	+0.0416%	1h	316.16	+0.129%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0513%	1h	316.00	+0.079%	$11K	$1.6M	25x	as long as short
Phoenix TAO	+0.0581%	1h	316.10	+0.111%	$315K	$697K	5x	as long as short
Variational Omni TAO	+0.0641%	4h	315.94	+0.059%	$5.8M	$9.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.15	+0.126%	$364	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	316.30	+0.174%	$437K	$658K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.38	+0.200%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.61	+1.222%	$23K	$2K	12x	as long as short