Funding you earn now, next payment 04:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h −0.092%
Price spread now: BingX against Phoenix−0.249%79s7-day average −0.141% · you buy dearer than you sell
Net, funding: paid 7d − costs−$58as 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−$420.421% of the position
Funding, last 7 days−0.157%−$16 on $10k
+Price spread, last 4 days (all we have)−0.110%−$11 · spread now −0.249%, 7d avg −0.141%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and BingX is 0.109% cheaper against Phoenix than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.141%). Swap the legs. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.157% in total (about -8.2% 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 | Phoenix TAO | 312.70 | 0.0457 | pay 0.0057% / 1h | 8m 10s | $311K | $711K | 5x |
| Short | BingX TAO-USDT | 311.92 | 0.0180 | get 0.0090% / 4h | 3h 08m | — | $33.8M | — |
Phoenix TAO
BingX TAO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Phoenix. 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
- −$58.08
- Price spread: −0.249% → −0.141%
- −$10.88
- Slippage, 4 orders
- −$25.13
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$111.09
- Costs to cover
- 0.421%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 45 min ago; BingX: live order book, 16 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, 45 min ago | 3.18 bp | 9.6 bp −$10 | 19.6 bp −$196 | doesn't fit | doesn't fit |
| Sell BingX live order book, 16 min ago | 0.48 bp | 7.2 bp −$7 | 12.9 bp −$129 | 26.6 bp −$2,660 | 53.2 bp −$26.6K |
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 | −0.0348% | 1h | 311.84 | −0.276% | $5.5M | $20.6M | 50x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 311.81 | −0.286% | $20K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0009% | 1h | 311.62 | −0.345% | $124K | $85K | 5x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 311.70 | −0.320% | $48K | $661K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0100% | 8h | 311.36 | −0.429% | $2K | $857K | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 311.71 | −0.317% | $355K | $416K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 311.96 | −0.238% | $89.1M | $502.4M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 312.10 | −0.192% | $26.0M | $121.0M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 311.70 | −0.320% | $13.3M | $50.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 311.87 | −0.265% | $103.1M | $145.8M | 300x | as long as short |
Kraken Futures PF_TAOUSD
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
Popdex TAOUSDT
Katana Perps TAO-USD
Pacifica TAO
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 311.92 | −0.249% | $17.5M | $31.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 311.65 | −0.336% | $35.0M | $56.6M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 312.53 | −0.055% | $41K | $313K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 312.48 | −0.070% | $46K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 311.64 | −0.339% | $81K | $905K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 312.02 | −0.219% | $12K | $17K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 311.42 | −0.409% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 311.44 | −0.403% | $110K | $542K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 311.66 | −0.333% | $3.1M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.04 | −0.211% | $171K | $998 | 3x | as long as short |
| Aster TAOUSDT | +0.0105% | 4h | 311.83 | −0.277% | $1.3M | $10.5M | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0113% | 4h | 312.05 | −0.208% | $52K | $290K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0114% | 4h | 312.81 | +0.034% | $531K | $956K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0135% / S +0.0137% | 1h | 311.74 | −0.307% | $414K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0165% | 8h | 311.69 | −0.324% | $14K | $1K | 10x | as long as short |
| BingX TAO-USDTshort | +0.0180% | 4h | 311.92 | −0.249% | — | $33.8M | — | |
| Arcus TAO-USD | +0.0231% | 1h | 311.95 | −0.240% | $101K | $394K | 5x | as long as short |
| Bybit TAOUSDT | +0.0271% | 4h | 312.06 | −0.205% | $67.4M | $150.8M | 50x | as long as short |
| Extended TAO-USD | +0.0304% | 1h | 311.88 | −0.262% | $909K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0316% | 1h | 311.88 | −0.263% | $787K | $2.2M | 10x | as long as short |
| Variational Omni TAO | +0.0325% | 4h | 312.94 | +0.076% | $5.5M | $10.1M | — | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 311.89 | −0.259% | $4.5M | $10.8M | 100x | as long as short |
| Phoenix TAOlong | +0.0457% | 1h | 312.70 | long leg | $311K | $711K | 5x | |
| Hyperliquid TAO | +0.0464% | 1h | 312.17 | −0.169% | $91.6M | $107.9M | 5x | as long as short |
| Bulk TAO-USD | +0.0468% | 1h | 310.75 | −0.624% | $165K | $333 | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0479% | 1h | 312.04 | −0.211% | $310K | $885K | 10x | as long as short |
| 01 Exchange TAOUSD | +0.0488% | 1h | 311.85 | −0.272% | $3K | $4K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0489% | 1h | 311.97 | −0.233% | $12K | $1.8M | 25x | as long as short |
| Lighter TAO | +0.0624% | 1h | 312.19 | −0.164% | $1.5M | $6.6M | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 311.93 | −0.246% | $359 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 311.70 | −0.318% | $441K | $647K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 312.08 | −0.198% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 316.67 | +1.270% | $23K | $2K | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Aster TAOUSDT
Orderly PERP_TAO_USDC
GRVT TAO_USDT_Perp
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Arcus TAO-USD
Bybit TAOUSDT
Extended TAO-USD
Nado TAO-PERP
Variational Omni TAO
BloFin TAO-USDT
Hyperliquid TAO
Bulk TAO-USD
Backpack TAO_USDC_PERP
01 Exchange TAOUSD
Deribit TAO_USDC-PERPETUAL
Lighter TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP