Funding you earn now, next payment 04:00 UTC+0.1133%/8h= +124.0% APRpaid last 24h +0.001%
Price spread now: Katana Perps against Phemex−0.632%7-day average +0.018% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.150%+$15 on $10k
+Price spread, last 3 days (all we have)+0.539%+$54 · spread now −0.632%, 7d avg +0.018%
=Funding pays, the price is against you. Katana Perps is 0.651% cheaper against Phemex than usual: you would sell low and buy high (spread −0.632% now, against its 7-day average of +0.018%). If the spread goes back, that is −$65 on $10k: about 46 hours of funding at the current rate (+$34 a day). At the pace of the last 4 days (+0.150% in total) that is about 16 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.150% in total (about 14.8% 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 | 319.53 | −0.1018 | get 0.0509% / 4h | 3h 32m | $3.4M | $7.9M | 50x |
| Short | Katana Perps TAO-USD | 317.51 | 0.0115 | get 0.0115% / 8h | 7h 32m | $1K | $621K | 5x |
Phemex TAOUSDT
Katana Perps TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps 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
- $237.89
- Price spread: −0.632% → +0.018%
- −$65.05
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- $157.04
- Costs to cover
- 0.158%
- Break-even
- 2.4 days
Slippage unknown: Phemex: live order book, 2 min ago; Katana Perps: no order-book sample. 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 Phemex live order book, 2 min ago | 11.25 bp | 27.9 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell Katana Perps no order-book sample | — | — | — | — | — |
Katana Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.1322% | 1h | 319.84 | +0.097% | $170K | $44K | 10x | as long as short |
| Phemex TAOUSDTlong | −0.1018% | 4h | 319.53 | long leg | $3.4M | $7.9M | 50x | |
| dYdX TAO-USD | 0.0000% | 1h | 317.61 | −0.600% | $127K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 318.38 | −0.360% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 317.52 | −0.629% | $41K | $589K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 318.52 | −0.315% | $91.8M | $446.7M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 318.70 | −0.260% | $26.1M | $108.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.30 | −0.385% | $12.9M | $50.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 318.40 | −0.354% | $108.3M | $134.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.02 | −0.473% | $18.2M | $29.2M | 75x | 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 TAOUSDTMShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 318.49 | −0.325% | $35.6M | $50.4M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 319.52 | −0.004% | $40K | $293K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 318.62 | −0.285% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 318.37 | −0.363% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.96 | +0.135% | $128K | $424K | 20x | as long as short |
| GRVT TAO_USDT_Perp | +0.0104% | 4h | 320.01 | +0.149% | $529K | $969K | 10x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 318.70 | −0.260% | $175K | $998 | 3x | as long as short |
| Katana Perps TAO-USDshort | +0.0115% | 8h | 317.51 | −0.632% | $1K | $621K | 5x | |
| Bullet TAO-USD | +0.0165% | 1h | 318.53 | −0.313% | $12K | $17K | 20x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0173% / S +0.0089% | 1h | 318.30 | −0.384% | $461K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 318.05 | −0.463% | $377K | $374K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 317.73 | −0.563% | $84K | $550K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0222% | 1h | 318.58 | −0.298% | $17K | $1.5M | 25x | as long as short |
| Aster TAOUSDT | +0.0236% | 4h | 317.63 | −0.593% | $1.1M | $8.4M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0240% | 8h | 317.60 | −0.604% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0325% | 1h | 318.35 | −0.369% | $93K | $638K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 319.76 | +0.072% | $4.5M | $10.9M | 100x | as long as short |
| ApeX Omni TAOUSDT | +0.0344% | 1h | 319.23 | −0.094% | $48K | $266K | 50x | as long as short |
| Variational Omni TAO | +0.0398% | 4h | 320.33 | +0.249% | $5.6M | $8.7M | — | as long as short |
| BingX TAO-USDT | +0.0428% | 4h | 318.53 | −0.313% | — | $30.5M | — | as long as short |
| Bybit TAOUSDT | +0.0471% | 4h | 318.75 | −0.244% | $65.5M | $132.9M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0481% | 1h | 318.61 | −0.288% | $5.8M | $20.3M | 50x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 320.00 | +0.147% | $335K | $624K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 322.97 | +1.077% | $23K | $678 | 12x | as long as short |
| 01 Exchange TAOUSD | +0.0656% | 1h | 317.68 | −0.579% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 318.07 | −0.456% | $366 | — | 20x | as long as short |
| Nado TAO-PERP | +0.0795% | 1h | 317.86 | −0.522% | $887K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0902% | 1h | 319.42 | −0.034% | $323K | $819K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 319.54 | +0.003% | $1.5M | $6.3M | 50x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 317.43 | −0.656% | $422K | $600K | 5x | as long as short |
| Extended TAO-USD | +0.1144% | 1h | 318.62 | −0.284% | $930K | $2.2M | 25x | as long as short |
| Lighter TAO | +0.1440% | 1h | 319.38 | −0.048% | $1.7M | $6.0M | 5x | as long as short |
| Hyperliquid TAO | +0.2278% | 1h | 318.61 | −0.288% | $102.9M | $90.8M | 5x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
GRVT TAO_USDT_Perp
Aevo TAO-PERP
Bullet TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Arcus TAO-USD
Deribit TAO_USDC-PERPETUAL
Aster TAOUSDT
Paradex TAO-USD-PERP
Polymarket Perps TAO-USD
BloFin TAO-USDT
ApeX Omni TAOUSDT
Variational Omni TAO
BingX TAO-USDT
Bybit TAOUSDT
Kraken Futures PF_TAOUSD
Phoenix TAO
Injective TAO/USDC PERP
01 Exchange TAOUSD
Reya TAORUSDPERP
Nado TAO-PERP
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Extended TAO-USD
Lighter TAO
Hyperliquid TAO