Funding you earn now, next payment 21:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.087%
Price spread now: Bitget against Phoenix−0.147%99s7-day average −0.178% · you buy dearer than you sell
Net, funding: paid 7d − costs−$63as 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−$510.508% of the position
Funding, last 7 days−0.125%−$12 on $10k
+Price spread, last 3 days (all we have)−0.379%−$38 · spread now −0.147%, 7d avg −0.178%
=The price spread pays, funding is against you. Bitget is 0.031% dearer against Phoenix than usual: you sell high and buy low (spread −0.147% now, against its 7-day average of −0.178%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.125% in total) that is about 41 hours. The two prices were read 99 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 | Phoenix TAO | 305.20 | 0.0234 | pay 0.0029% / 1h | 45m 54s | $323K | $462K | 5x |
| Short | Bitget TAOUSDT | 304.75 | 0.0100 | get 0.0050% / 4h | 2h 45m | $34.1M | $44.2M | 50x |
Phoenix TAO
Bitget TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$28.19
- Price spread: −0.147% → −0.178%
- $3.06
- Slippage, 4 orders
- −$31.81
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$75.93
- Costs to cover
- 0.508%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 40 min ago; Bitget: live order book, 3 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, 40 min ago | 3.22 bp | 16.5 bp −$16 | 28.0 bp −$280 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 3 min ago | 1.15 bp | 10.7 bp −$11 | 21.2 bp −$212 | 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 | −0.0973% | 1h | 304.87 | −0.108% | $200K | $57K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 304.46 | −0.242% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.68 | −0.170% | $19K | — | 150x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0087% | 1h | 304.90 | −0.099% | $16K | $1.3M | 25x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 304.94 | −0.085% | $39K | $521K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 304.66 | −0.176% | $361K | $401K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 304.93 | −0.088% | $85.4M | $400.2M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 304.99 | −0.069% | $58.5M | $117.0M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 304.90 | −0.098% | $24.8M | $91.3M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 304.98 | −0.072% | $135K | $591K | 5x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate TAO_USDT | +0.0100% | 4h | 304.80 | −0.131% | $12.0M | $47.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 305.05 | −0.049% | $111.8M | $121.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 305.02 | −0.059% | $18.2M | $26.3M | 75x | as long as short |
| Bitget TAOUSDTshort | +0.0100% | 4h | 304.75 | −0.147% | $34.1M | $44.2M | 50x | |
| BingX TAO-USDT | +0.0100% | 4h | 304.95 | −0.082% | — | $30.5M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 303.48 | −0.565% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 304.89 | −0.103% | $39K | $277K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.08 | −0.038% | $545K | $977K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 303.27 | −0.632% | $46K | $267K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 304.80 | −0.131% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 304.87 | −0.108% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 304.74 | −0.151% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 304.81 | −0.128% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 304.77 | −0.141% | $3.2M | $8.0M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0101% | 1h | 305.14 | −0.020% | $83K | $665K | 5x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 304.95 | −0.082% | $167K | $998 | 3x | as long as short |
| Aster TAOUSDT | +0.0106% | 4h | 304.90 | −0.100% | $1.1M | $7.4M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0113% | 8h | 304.96 | −0.079% | $1K | $416K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0164% | 8h | 304.58 | −0.202% | $14K | $992 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 304.63 | −0.187% | $435K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0185% | 1h | 304.99 | −0.068% | $745K | $1.8M | 10x | as long as short |
| Phoenix TAOlong | +0.0234% | 1h | 305.20 | long leg | $323K | $462K | 5x | |
| BloFin TAO-USDT | +0.0340% | 4h | 304.62 | −0.190% | $4.2M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0432% | 1h | 305.17 | −0.010% | $3K | $4K | 5x | as long as short |
| Lighter TAO | +0.0616% | 1h | 305.19 | −0.005% | $1.6M | $4.8M | 5x | as long as short |
| Extended TAO-USD | +0.0624% | 1h | 304.88 | −0.106% | $872K | $1.9M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 304.97 | −0.076% | $351 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 305.68 | +0.157% | $1.5M | $5.4M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1033% | 1h | 305.09 | −0.035% | $6.2M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 305.03 | −0.055% | $404K | $532K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1102% | 1h | 305.30 | +0.033% | $467K | $683K | 10x | as long as short |
| Hyperliquid TAO | +0.1417% | 1h | 305.26 | +0.020% | $91.7M | $74.6M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4876% | 1h | 307.78 | +0.845% | $22K | $136 | 12x | as long as short |
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Polymarket Perps TAO-USD
Aevo TAO-PERP
Aster TAOUSDT
Katana Perps TAO-USD
Paradex TAO-USD-PERP
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Lighter TAO
Extended TAO-USD
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Backpack TAO_USDC_PERP
Hyperliquid TAO
Injective TAO/USDC PERP