TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0138%/8h= +15.1% APRnext payment +$0.17 per $10,000 · paid last 24h +0.086%

Price spread now: Phoenix against Popdex−0.152%7-day average +0.146% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$540.538% of the position

Long on Popdex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.242%+$24 on $10k

Price spread, last 3 days (all we have)+0.663%+$66 · spread now −0.152%, 7d avg +0.146%

Together, before fees+0.905%+$91 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.298% cheaper against Popdex than usual: you would sell low and buy high (spread −0.152% now, against its 7-day average of +0.146%). If the spread goes back, that is −$30 on $10k: about 7.2 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	308.37	0.0096	pay 0.0012% / 1h	21m 20s	$41K	$530K	20x
Short	Phoenix TAO	307.90	0.0234	get 0.0029% / 1h	21m 20s	$326K	$462K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Popdex. 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 PopdexbpFee PhoenixbpOrdersPrice spread, now −0.152%Rate

Funding earned: $29.03
Price spread: −0.152% → +0.146%: −$29.84
Slippage, 4 orders: −$40.43
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$54.64
Costs to cover: 0.538%
Break-even: 20.2 days

Slippage from Popdex: live order book, 3 min ago; Phoenix: live order book, 64 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 Popdex live order book, 3 min ago	1.78 bp	11.2 bp −$11	91.6 bp −$916	doesn't fit	doesn't fit
Sell Phoenix live order book, 64 min ago	3.22 bp	15.0 bp −$15	20.2 bp −$202	doesn't fit	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	308.50	+0.042%	$130K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	307.94	−0.141%	$26K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0034%	1h	308.35	−0.006%	$16K	$1.3M	25x	as long as short
Bulk TAO-USD	+0.0052%	1h	305.44	−0.950%	$200K	$57K	10x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	308.37	long leg	$41K	$530K	20x
Pacifica TAO	+0.0100%	1h	308.72	+0.114%	$365K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.13	−0.076%	$86.1M	$404.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	308.41	+0.013%	$59.5M	$118.5M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.40	+0.010%	$25.3M	$93.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.85	+0.156%	$137K	$599K	5x	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	308.00	−0.120%	$12.2M	$48.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.69	−0.221%	$115.3M	$124.3M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.23	−0.045%	$18.6M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.20	−0.055%	$34.5M	$44.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	308.10	−0.088%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.90	−0.801%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.92	−0.146%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.12	−0.405%	$538K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.95	−0.136%	$46K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.45	+0.026%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.16	−0.068%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	308.28	−0.029%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	308.23	−0.045%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.77	−0.195%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	308.19	−0.058%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.48	+0.037%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	308.50	+0.042%	$882	$438K	5x	as long as short
Aster TAOUSDT	+0.0162%	4h	308.37	+0.001%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0164%	8h	308.71	+0.110%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.98	−0.128%	$440K	—	100x	as long as short
Phoenix TAOshort	+0.0234%	1h	307.90	−0.152%	$326K	$462K	5x
Nado TAO-PERP	+0.0290%	1h	308.33	−0.012%	$846K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.69	−0.221%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	308.78	+0.133%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	307.72	−0.211%	$354	—	20x	as long as short
Extended TAO-USD	+0.0712%	1h	308.28	−0.028%	$906K	$2.0M	25x	as long as short
Lighter TAO	+0.0928%	1h	309.00	+0.204%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	309.18	+0.263%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1022%	1h	308.52	+0.049%	$6.3M	$19.2M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	308.67	+0.096%	$413K	$539K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1094%	1h	308.20	−0.055%	$445K	$715K	10x	as long as short
Hyperliquid TAO	+0.1741%	1h	308.37	0.000%	$94.4M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−0.782%	$22K	$171	12x	as long as short