TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0030%/8h= −3.2% APRnext payment −$0.04 per $10,000 · paid last 24h −0.077%

Price spread now: Arcus against Phoenix+0.998%7-day average −0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$51as in the Price arb table

costs, in and out, $10k−$550.549% of the position

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.253%−$25 on $10k

Price spread, last 4 days (all we have)−1.265%−$127 · spread now +0.998%, 7d avg −0.060%

Together, before fees−1.518%−$152 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 1.058% dearer against Phoenix than usual: you sell high and buy low (spread +0.998% now, against its 7-day average of −0.060%): +$106 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 4 days (−0.253% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix TAO	316.70	0.0513	pay 0.0064% / 1h	19m 21s	$315K	$713K	5x
Short	Arcus TAO-USD	319.86	0.0483	get 0.0060% / 1h	19m 21s	$103K	$345K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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 PhoenixbpFee ArcusbpOrdersPrice spread, now +0.998%Rate

Funding earned: −$6.2
Price spread: +0.998% → −0.060%: $105.78
Slippage, 4 orders: −$43.43
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $44.65
Costs to cover: 0.549%
Break-even: from the start

Slippage from Phoenix: live order book, 29 min ago; Arcus: live order book, 29 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 Phoenix live order book, 29 min ago	3.18 bp	16.3 bp −$16	27.7 bp −$277	doesn't fit	doesn't fit
Sell Arcus live order book, 29 min ago	6.85 bp	10.4 bp −$10	23.5 bp −$235	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	−0.0038%	1h	313.74	−0.935%	$167K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.58	+0.593%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0038%	1h	319.04	+0.740%	$127K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.90	+0.695%	$91.6M	$511.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.80	+0.663%	$26.8M	$125.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.60	+0.600%	$14.2M	$51.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	319.09	+0.755%	$101.2M	$147.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.13	+0.767%	$17.5M	$31.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.56	+0.587%	$35.9M	$57.4M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.55	+0.585%	$42K	$316K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	319.12	+0.764%	$91K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.49	+0.565%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.27	+0.811%	$116K	$563K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.86	+0.998%	$3.2M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.79	+0.660%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	319.46	+0.871%	$654	$938K	5x	as long as short
Popdex TAOUSDT	+0.0112%	1h	319.73	+0.957%	$53K	$670K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0118%	4h	318.83	+0.673%	$53K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0128% / S +0.0141%	1h	318.56	+0.589%	$427K	—	100x	as long as short
Pacifica TAO	+0.0233%	1h	319.52	+0.891%	$364K	$420K	10x	as long as short
Aster TAOUSDT	+0.0253%	4h	319.37	+0.843%	$1.3M	$10.7M	50x	as long as short
Nado TAO-PERP	+0.0255%	1h	319.30	+0.820%	$804K	$2.2M	10x	as long as short
Paradex TAO-USD-PERP	+0.0278%	8h	319.67	+0.938%	$15K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0299%	1h	318.91	+0.698%	$6.0M	$21.5M	50x	as long as short
Bullet TAO-USD	+0.0331%	1h	319.09	+0.754%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	318.38	+0.530%	$4.6M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0374%	4h	315.91	−0.248%	$537K	$923K	10x	as long as short
Bybit TAOUSDT	+0.0399%	4h	318.95	+0.710%	$69.6M	$153.2M	50x	as long as short
BingX TAO-USDT	+0.0402%	4h	318.87	+0.685%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0459%	4h	318.52	+0.574%	$5.6M	$10.1M	—	as long as short
Arcus TAO-USDshort	+0.0483%	1h	319.86	+0.998%	$103K	$345K	5x
Extended TAO-USD	+0.0504%	1h	318.70	+0.631%	$911K	$2.4M	25x	as long as short
Phoenix TAOlong	+0.0513%	1h	316.70	long leg	$315K	$713K	5x
Deribit TAO_USDC-PERPETUAL	+0.0559%	1h	318.72	+0.638%	$15K	$1.8M	25x	as long as short
ApeX Omni TAOUSDT	+0.0574%	1h	315.18	−0.480%	$45K	$256K	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	319.09	+0.756%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0800%	1h	320.51	+1.203%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	319.65	+0.933%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0819%	1h	319.40	+0.853%	$93.7M	$109.1M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0844%	1h	320.10	+1.074%	$317K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	320.16	+1.093%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	319.68	+0.941%	$461K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+0.878%	$23K	$2K	12x	as long as short