Funding you earn now, next payment 00:00 UTC−0.0425%/8h= −46.6% APRpaid last 24h −0.084%
Price spread now: MEXC against Phoenix+0.376%7-day average −0.134% · you sell dearer than you buy
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs+$15as in the Price arb table
costs, in and out, $10k−$360.360% of the position
Funding, last 7 days−0.211%−$21 on $10k
+Price spread, last 3 days (all we have)−0.528%−$53 · spread now +0.376%, 7d avg −0.134%
=The price spread pays, funding is against you. MEXC is 0.511% dearer against Phoenix than usual: you sell high and buy low (spread +0.376% now, against its 7-day average of −0.134%): +$51 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 4.0 days. At the pace of the last 7 days (−0.211% in total) that is about 17 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.211% in total (about -11.0% 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 | 316.20 | 0.0525 | pay 0.0066% / 1h | 6m 55s | $331K | $624K | 5x |
| Short | MEXC TAO_USDT | 317.39 | 0.0100 | get 0.0050% / 4h | 3h 06m | $99.8M | $136.7M | 300x |
Phoenix TAO
MEXC TAO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$89.35
- Price spread: +0.376% → −0.134%
- $51.08
- Slippage, 4 orders
- −$28.98
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$74.25
- Costs to cover
- 0.360%
- Break-even
- from the start
Slippage from Phoenix: live order book, 65 min ago; MEXC: 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, 65 min ago | 3.19 bp | 14.6 bp −$15 | 25.1 bp −$251 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.63 bp | 2.2 bp −$2 | 14.5 bp −$145 | 35.6 bp −$3,556 | 101.5 bp −$50.8K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.1228% | 1h | 316.14 | −0.019% | $168K | $40K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 316.78 | +0.183% | $127K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0005% | 1h | 316.76 | +0.179% | $10K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 317.00 | +0.253% | $42K | $600K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 317.23 | +0.326% | $90.9M | $450.7M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 317.20 | +0.316% | $25.8M | $109.3M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 317.20 | +0.316% | $12.9M | $51.2M | 50x | as long as short |
| MEXC TAO_USDTshort | +0.0100% | 4h | 317.39 | +0.376% | $99.8M | $136.7M | 300x | |
| KuCoin TAOUSDTM | +0.0100% | 4h | 317.34 | +0.361% | $18.0M | $29.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 317.14 | +0.297% | $35.3M | $51.5M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 316.12 | −0.026% | $40K | $293K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 315.81 | −0.123% | $523K | $958K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 317.90 | +0.538% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 316.70 | +0.158% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 317.76 | +0.493% | $127K | $422K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 317.76 | +0.493% | $3.4M | $7.8M | 50x | as long as short |
| Bullet TAO-USD | +0.0102% | 1h | 316.93 | +0.232% | $12K | $17K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 317.42 | +0.387% | $174K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0117% | 8h | 316.90 | +0.221% | $2K | $644K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0154% | 1h | 316.14 | −0.019% | $48K | $267K | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0172% / S +0.0101% | 1h | 316.66 | +0.147% | $449K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 316.91 | +0.223% | $375K | $376K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 317.20 | +0.316% | $84K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0202% | 4h | 317.74 | +0.487% | $1.3M | $8.8M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0237% | 8h | 316.99 | +0.251% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0267% | 1h | 317.17 | +0.307% | $93K | $633K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0292% | 1h | 317.77 | +0.496% | $17K | $1.5M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 318.23 | +0.642% | $4.5M | $10.8M | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0482% | 1h | 317.90 | +0.536% | $5.7M | $20.3M | 50x | as long as short |
| Phoenix TAOlong | +0.0525% | 1h | 316.20 | long leg | $331K | $624K | 5x | |
| Variational Omni TAO | +0.0546% | 4h | 316.94 | +0.235% | $5.5M | $8.7M | — | as long as short |
| 01 Exchange TAOUSD | +0.0560% | 1h | 317.04 | +0.266% | $3K | $4K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 316.59 | +0.123% | $23K | $902 | 12x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 316.81 | +0.193% | $364 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0702% | 4h | 317.25 | +0.332% | — | $30.7M | — | as long as short |
| Bybit TAOUSDT | +0.0715% | 4h | 317.44 | +0.392% | $65.3M | $133.5M | 50x | as long as short |
| Nado TAO-PERP | +0.0752% | 1h | 317.10 | +0.283% | $877K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0805% | 1h | 318.28 | +0.658% | $322K | $816K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 317.23 | +0.326% | $1.5M | $6.4M | 50x | as long as short |
| Extended TAO-USD | +0.1112% | 1h | 317.24 | +0.330% | $885K | $2.3M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 316.94 | +0.236% | $421K | $593K | 5x | as long as short |
| Lighter TAO | +0.1408% | 1h | 318.42 | +0.701% | $1.7M | $6.1M | 5x | as long as short |
| Hyperliquid TAO | +0.1792% | 1h | 318.47 | +0.718% | $101.9M | $91.6M | 5x | as long as short |
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Bullet TAO-USD
Aevo TAO-PERP
Katana Perps TAO-USD
ApeX Omni TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Polymarket Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
Kraken Futures PF_TAOUSD
Variational Omni TAO
01 Exchange TAOUSD
Injective TAO/USDC PERP
Reya TAORUSDPERP
BingX TAO-USDT
Bybit TAOUSDT
Nado TAO-PERP
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO