TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0134%/8h= −14.7% APRnext payment −$0.17 per $10,000 · paid last 24h −0.084%

Price spread now: Bullet against Phoenix+0.533%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bullet is 0.533% dearer against Phoenix than usual: you sell high and buy low (spread +0.533% now, against zero (this spread has no 7-day history yet)): +$53 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix TAO	305.60	0.0234	pay 0.0029% / 1h	24m 40s	$324K	$462K	5x
Short	Bullet TAO-USD	307.23	0.0100	get 0.0013% / 1h	24m 40s	$11K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.533%Rate

Funding earned: −$28.19
Price spread: +0.533% → 0.000%: $53.34
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: $10.15
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 61 min ago; Bullet: 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 Phoenix live order book, 61 min ago	3.22 bp	16.5 bp −$16	28.0 bp −$280	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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
dYdX TAO-USD	0.0000%	1h	306.93	+0.435%	$129K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	306.77	+0.382%	$15K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	306.97	+0.448%	$23K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.52	+0.628%	$42K	$523K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.21	+0.527%	$363K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.00	+0.457%	$85.8M	$403.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.04	+0.471%	$59.3M	$118.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.10	+0.491%	$25.3M	$93.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.51	+0.625%	$137K	$598K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	+0.481%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.10	+0.491%	$12.2M	$48.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.01	+0.461%	$114.1M	$123.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.01	+0.461%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	306.89	+0.422%	$34.4M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.12	+0.497%	—	$30.5M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.90	+0.098%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.13	−0.155%	$39K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.16	−0.145%	$535K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	304.90	−0.229%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	307.67	+0.677%	$78K	$675K	5x	as long as short
Bullet TAO-USDshort	+0.0100%	1h	307.23	+0.533%	$11K	$18K	20x
Orderly PERP_TAO_USDC	+0.0100%	4h	306.81	+0.396%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	306.57	+0.317%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.25	+0.540%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	306.76	+0.380%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.43	+0.600%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	307.70	+0.687%	$1K	$437K	5x	as long as short
Aster TAOUSDT	+0.0162%	4h	307.07	+0.480%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0165%	8h	307.10	+0.492%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	306.98	+0.451%	$439K	—	100x	as long as short
Phoenix TAOlong	+0.0234%	1h	305.60	long leg	$324K	$462K	5x
Nado TAO-PERP	+0.0290%	1h	307.32	+0.564%	$840K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.84	+0.406%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.93	+0.762%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.23	+0.533%	$353	—	20x	as long as short
Extended TAO-USD	+0.0704%	1h	307.21	+0.527%	$902K	$2.0M	25x	as long as short
Lighter TAO	+0.0920%	1h	307.46	+0.608%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.04	+0.798%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1026%	1h	307.10	+0.490%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.67	+0.676%	$411K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1157%	1h	307.02	+0.465%	$443K	$715K	10x	as long as short
Hyperliquid TAO	+0.1732%	1h	307.91	+0.756%	$94.2M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	+0.118%	$22K	$171	12x	as long as short