Funding you earn now, next payment 04:00 UTC−0.0357%/8h= −39.0% APRpaid last 24h −0.092%
Price spread now: Gate against Phoenix0.000%77s7-day average −0.174% · you sell dearer than you buy
Net, funding: paid 7d − costs−$79as 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−$590.590% of the position
Funding, last 7 days−0.197%−$20 on $10k
+Price spread, last 4 days (all we have)−0.422%−$42 · spread now 0.000%, 7d avg −0.174%
=The price spread pays, funding is against you. Gate is 0.174% dearer against Phoenix than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.174%): +$17 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 7 days (−0.197% in total) that is about 6.2 days. The two prices were read 77 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 -0.197% in total (about -10.3% 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 | 12m 05s | $311K | $711K | 5x |
| Short | Gate TAO_USDT | 312.70 | 0.0100 | get 0.0050% / 4h | 3h 12m | $13.4M | $50.5M | 50x |
Phoenix TAO
Gate TAO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$74.88
- Price spread: 0.000% → −0.174%
- $17.4
- Slippage, 4 orders
- −$37.03
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$116.51
- Costs to cover
- 0.590%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 41 min ago; Gate: live order book, 2 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, 41 min ago | 3.18 bp | 9.6 bp −$10 | 19.6 bp −$196 | doesn't fit | doesn't fit |
| Sell Gate live order book, 2 min ago | 1.60 bp | 12.2 bp −$12 | 28.7 bp −$287 | 69.4 bp −$6,938 | 118.5 bp −$59.2K |
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 | −0.0347% | 1h | 312.48 | −0.072% | $5.5M | $20.7M | 50x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 312.31 | −0.123% | $20K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0010% | 1h | 312.57 | −0.042% | $125K | $85K | 5x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 312.35 | −0.112% | $46K | $658K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0099% | 8h | 312.28 | −0.134% | $639 | $851K | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 312.76 | +0.019% | $356K | $416K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.19 | +0.158% | $89.6M | $502.0M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 313.30 | +0.192% | $26.1M | $121.3M | 50x | as long as short |
| Gate TAO_USDTshort | +0.0100% | 4h | 312.70 | 0.000% | $13.4M | $50.5M | 50x | |
| MEXC TAO_USDT | +0.0100% | 4h | 313.12 | +0.134% | $103.3M | $145.6M | 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
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 | 312.49 | −0.067% | $17.7M | $31.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 313.01 | +0.099% | $35.1M | $56.6M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 312.81 | +0.034% | $42K | $315K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 313.61 | +0.291% | $46K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 312.22 | −0.154% | $82K | $905K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 312.46 | −0.078% | $12K | $17K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.09 | −0.195% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.21 | −0.157% | $110K | $542K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 312.49 | −0.067% | $3.1M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.68 | −0.007% | $172K | $998 | 3x | as long as short |
| GRVT TAO_USDT_Perp | +0.0112% | 4h | 312.64 | −0.018% | $531K | $956K | 10x | as long as short |
| Aster TAOUSDT | +0.0112% | 4h | 313.10 | +0.128% | $1.3M | $10.5M | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0115% | 4h | 312.48 | −0.070% | $52K | $290K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0136% / S +0.0132% | 1h | 312.25 | −0.144% | $421K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0164% | 8h | 312.52 | −0.058% | $14K | $1K | 10x | as long as short |
| BingX TAO-USDT | +0.0180% | 4h | 313.30 | +0.192% | — | $33.7M | — | as long as short |
| Bybit TAOUSDT | +0.0215% | 4h | 313.40 | +0.224% | $67.6M | $150.8M | 50x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 312.67 | −0.010% | $101K | $394K | 5x | as long as short |
| Extended TAO-USD | +0.0320% | 1h | 312.48 | −0.071% | $914K | $2.4M | 25x | as long as short |
| Variational Omni TAO | +0.0323% | 4h | 312.65 | −0.016% | $5.5M | $10.1M | — | as long as short |
| Nado TAO-PERP | +0.0326% | 1h | 312.53 | −0.055% | $789K | $2.2M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 312.64 | −0.019% | $4.5M | $10.8M | 100x | as long as short |
| Phoenix TAOlong | +0.0457% | 1h | 312.70 | long leg | $311K | $711K | 5x | |
| Bulk TAO-USD | +0.0468% | 1h | 310.75 | −0.624% | $165K | $333 | 10x | as long as short |
| Hyperliquid TAO | +0.0480% | 1h | 313.53 | +0.265% | $92.1M | $107.9M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0488% | 1h | 312.53 | −0.054% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0496% | 1h | 313.38 | +0.217% | $311K | $885K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0515% | 1h | 312.56 | −0.044% | $13K | $1.8M | 25x | as long as short |
| Lighter TAO | +0.0640% | 1h | 312.87 | +0.053% | $1.5M | $6.5M | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 312.74 | +0.013% | $360 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 312.34 | −0.115% | $443K | $647K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 313.04 | +0.109% | $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
GRVT TAO_USDT_Perp
Aster TAOUSDT
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
BingX TAO-USDT
Bybit TAOUSDT
Arcus TAO-USD
Extended TAO-USD
Variational Omni TAO
Nado TAO-PERP
BloFin TAO-USDT
Bulk TAO-USD
Hyperliquid TAO
01 Exchange TAOUSD
Backpack TAO_USDC_PERP
Deribit TAO_USDC-PERPETUAL
Lighter TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP