Funding you earn now, next payment 03:00 UTC−0.0581%/8h= −63.6% APRnext payment −$0.73 per $10,000 · paid last 24h −0.083%
Price spread now: dYdX against Phoenix+0.134%106s7-day average −0.177% · you sell dearer than you buy
Net, funding: paid 7d − costs−$150as 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−$1411.409% of the position
Funding, last 7 days−0.089%−$9 on $10k
+Price spread, last 4 days (all we have)−0.674%−$67 · spread now +0.134%, 7d avg −0.177%
=The price spread pays, funding is against you. dYdX is 0.311% dearer against Phoenix than usual: you sell high and buy low (spread +0.134% now, against its 7-day average of −0.177%): +$31 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 43 hours. At the pace of the last 7 days (−0.089% in total) that is about 24 days. The two prices were read 106 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 -0.089% in total (about -4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.73 per $10,000. 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 | 313.60 | 0.0581 | pay 0.0073% / 1h | 53m 42s | $312K | $711K | 5x |
| Short | dYdX TAO-USD | 314.02 | 0 | get 0.0000% / 1h | 53m 42s | $125K | $85K | 5x |
Phoenix TAO
dYdX TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$122.01
- Price spread: +0.134% → −0.177%
- $31.12
- Slippage, 4 orders
- −$123.89
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$231.77
- Costs to cover
- 1.409%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 64 min ago; dYdX: live order book, 65 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, 64 min ago | 3.17 bp | 19.2 bp −$19 | 88.2 bp −$882 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 65 min ago | 46.16 bp | 51.2 bp −$51 | 66.6 bp −$666 | 146.3 bp −$14.6K | 883.6 bp −$441.8K |
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 | −0.0346% | 1h | 313.56 | −0.012% | $5.5M | $20.6M | 50x | as long as short |
| dYdX TAO-USDshort | 0.0000% | 1h | 314.02 | +0.134% | $125K | $85K | 5x | |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 313.84 | +0.077% | $20K | — | 150x | as long as short |
| Gate TAO_USDT | +0.0008% | 4h | 313.60 | 0.000% | $13.0M | $49.2M | 50x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 313.95 | +0.112% | $43K | $653K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0098% | 8h | 313.86 | +0.083% | $644 | $806K | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 314.22 | +0.197% | $358K | $412K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 314.27 | +0.212% | $90.6M | $496.0M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 314.20 | +0.191% | $67.6M | $149.3M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.00 | +0.128% | $26.0M | $120.6M | 50x | as long as short |
Kraken Futures PF_TAOUSD
gTrade (Gains Network) TAO/USD
Gate TAO_USDT
Popdex TAOUSDT
Katana Perps TAO-USD
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAPShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | +0.0100% | 1h | 315.10 | +0.478% | $167K | $2K | 10x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 313.80 | +0.064% | $100.8M | $143.6M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.68 | +0.026% | $17.7M | $31.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 313.70 | +0.032% | $35.1M | $56.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 313.82 | +0.070% | — | $33.0M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 314.50 | +0.288% | $42K | $312K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 313.64 | +0.011% | $532K | $955K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.57 | +0.309% | $46K | $255K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 313.70 | +0.032% | $77K | $863K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 314.02 | +0.134% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.56 | −0.013% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 313.51 | −0.029% | $109K | $535K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.09 | +0.156% | $172K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0122% | 4h | 313.66 | +0.019% | $52K | $271K | 10x | as long as short |
| Hyperliquid TAO | +0.0134% | 1h | 314.11 | +0.163% | $92.2M | $106.6M | 5x | as long as short |
| Aster TAOUSDT | +0.0137% | 4h | 313.85 | +0.079% | $1.2M | $10.4M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0143% / S +0.0124% | 1h | 313.82 | +0.071% | $426K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0144% | 8h | 314.19 | +0.187% | $14K | $1K | 10x | as long as short |
| Extended TAO-USD | +0.0184% | 1h | 313.85 | +0.080% | $918K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0195% | 1h | 313.78 | +0.057% | $797K | $2.2M | 10x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 314.22 | +0.198% | $102K | $441K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 314.51 | +0.290% | $4.6M | $10.8M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0352% | 1h | 314.20 | +0.191% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0361% | 1h | 313.58 | −0.006% | $311K | $914K | 10x | as long as short |
| Variational Omni TAO | +0.0362% | 4h | 313.70 | +0.032% | $5.6M | $9.9M | — | as long as short |
| Lighter TAO | +0.0400% | 1h | 314.37 | +0.245% | $1.5M | $6.4M | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0404% | 1h | 313.69 | +0.028% | $21K | $1.7M | 25x | as long as short |
| Phoenix TAOlong | +0.0581% | 1h | 313.60 | long leg | $312K | $711K | 5x | |
| Reya TAORUSDPERP | +0.0697% | 1h | 313.75 | +0.048% | $361 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 314.08 | +0.152% | $435K | $653K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 314.92 | +0.421% | $1.5M | $6.7M | 50x | as long as short |
| Phemex TAOUSDT | +0.1188% | 4h | 313.73 | +0.041% | $3.2M | $8.1M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 317.67 | +1.298% | $23K | $2K | 12x | as long as short |
Bulk TAO-USD
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
Hyperliquid TAO
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Extended TAO-USD
Nado TAO-PERP
Arcus TAO-USD
BloFin TAO-USDT
01 Exchange TAOUSD
Backpack TAO_USDC_PERP
Variational Omni TAO
Lighter TAO
Deribit TAO_USDC-PERPETUAL
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Phemex TAOUSDT
Injective TAO/USDC PERP