Funding you earn now, next payment 22:00 UTC−0.0421%/8h= −46.1% APRpaid last 24h −0.081%
Price spread now: OKX against Phoenix+0.033%7-day average −0.176% · you sell dearer than you buy
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$480.478% of the position
Funding, last 7 days−0.183%−$18 on $10k
+Price spread, last 3 days (all we have)−0.425%−$43 · spread now +0.033%, 7d avg −0.176%
=The price spread pays, funding is against you. OKX is 0.209% dearer against Phoenix than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.176%): +$21 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 40 hours. At the pace of the last 7 days (−0.183% in total) that is about 8.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.183% in total (about -9.5% 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 | 303.50 | 0.0521 | pay 0.0065% / 1h | 29m 24s | $321K | $491K | 5x |
| Short | OKX TAO-USDT-SWAP | 303.60 | 0.0100 | get 0.0100% / 8h | 1h 29m | $24.4M | $95.4M | 50x |
Phoenix TAO
OKX TAO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$88.34
- Price spread: +0.033% → −0.176%
- $20.93
- Slippage, 4 orders
- −$30.84
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$115.25
- Costs to cover
- 0.478%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 53 min ago; OKX: live order book, 4 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, 53 min ago | 3.24 bp | 12.2 bp −$12 | 21.1 bp −$211 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 1.65 bp | 7.0 bp −$7 | 16.2 bp −$162 | 51.3 bp −$5,132 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 303.40 | −0.033% | $124K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0007% | 1h | 303.65 | +0.048% | $26K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 303.76 | +0.086% | $45K | $538K | 20x | as long as short |
| Aster TAOUSDT | +0.0100% | 4h | 303.74 | +0.079% | $1.1M | $7.7M | 50x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 303.70 | +0.066% | $84.9M | $413.7M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 303.77 | +0.089% | $58.7M | $121.1M | 50x | as long as short |
| OKX TAO-USDT-SWAPshort | +0.0100% | 8h | 303.60 | +0.033% | $24.4M | $95.4M | 50x | |
| Arcus TAO-USD | +0.0100% | 1h | 304.10 | +0.198% | $79K | $643K | 5x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 303.38 | −0.041% | $162K | $54K | 10x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 303.90 | +0.132% | $12.1M | $48.8M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Aster TAOUSDT
Binance TAOUSDT
Bybit TAOUSDT
Arcus TAO-USD
Bulk TAO-USD
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 303.91 | +0.135% | $111.1M | $125.2M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 303.63 | +0.043% | $18.4M | $27.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 303.68 | +0.059% | $33.9M | $46.0M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 304.12 | +0.204% | — | $30.4M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 303.79 | +0.095% | $3.7M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 303.27 | −0.077% | $39K | $279K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 302.72 | −0.258% | $501K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 303.45 | −0.016% | $46K | $269K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 303.97 | +0.155% | $74K | $595K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 303.93 | +0.142% | $11K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 303.01 | −0.161% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 302.98 | −0.171% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 303.25 | −0.082% | $122K | $364K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 303.06 | −0.145% | $3.2M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 303.22 | −0.094% | $167K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0111% | 8h | 303.60 | +0.033% | $621 | $496K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0155% | 8h | 303.77 | +0.089% | $14K | $1K | 10x | as long as short |
| Pacifica TAO | +0.0164% | 1h | 303.89 | +0.127% | $359K | $372K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 302.95 | −0.180% | $433K | — | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0276% | 1h | 303.05 | −0.147% | $21K | $1.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0333% | 1h | 303.91 | +0.134% | $820K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 303.24 | −0.086% | $4.2M | $9.3M | 100x | as long as short |
| Lighter TAO | +0.0376% | 1h | 303.95 | +0.150% | $1.6M | $5.3M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0392% | 1h | 303.94 | +0.145% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0435% | 1h | 303.53 | +0.010% | $378K | $756K | 10x | as long as short |
| Phoenix TAOlong | +0.0521% | 1h | 303.50 | long leg | $321K | $491K | 5x | |
| Reya TAORUSDPERP | +0.0695% | 1h | 303.77 | +0.090% | $349 | — | 20x | as long as short |
| Extended TAO-USD | +0.0816% | 1h | 304.11 | +0.201% | $825K | $2.0M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 303.21 | −0.096% | $1.5M | $5.6M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1042% | 1h | 303.09 | −0.136% | $5.7M | $19.7M | 50x | as long as short |
| Hyperliquid TAO | +0.1059% | 1h | 304.03 | +0.175% | $92.3M | $80.5M | 5x | as long as short |
| RISEx TAO/USDC | +0.1155% | 1h | 303.93 | +0.141% | $411K | $545K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.1621% | 1h | 308.73 | +1.723% | $22K | $264 | 12x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Paradex TAO-USD-PERP
Pacifica TAO
GMX TAO/USD [WBTC.b-USDC]
Deribit TAO_USDC-PERPETUAL
Nado TAO-PERP
BloFin TAO-USDT
Lighter TAO
01 Exchange TAOUSD
Backpack TAO_USDC_PERP
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
Hyperliquid TAO
RISEx TAO/USDC
Injective TAO/USDC PERP