TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0278%/8h= −30.4% APRnext payment −$1.39 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against BingX−0.206%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$780.777% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.524%−$52 on $10k

Price spread, last 3 days (all we have)+0.213%+$21 · spread now −0.206%, 7d avg +0.016%

Together, before fees−0.311%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phemex is 0.222% cheaper against BingX than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TAO-USDT	320.16	0.0378	pay 0.0189% / 4h	3h 49m	—	$30.8M	—
Short	Phemex TAOUSDT	319.50	0.0100	get 0.0050% / 4h	3h 49m	$3.5M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BingX. 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 BingXbpFee PhemexbpOrdersPrice spread, now −0.206%Rate

Funding earned: −$58.38
Price spread: −0.206% → +0.016%: −$22.25
Slippage, 4 orders: −$55.72
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$158.35
Costs to cover: 0.777%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Phemex: 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 BingX live order book, 9 min ago	1.10 bp	8.2 bp −$8	13.4 bp −$134	27.4 bp −$2,741	48.7 bp −$24.4K
Sell Phemex live order book, 4 min ago	13.83 bp	38.6 bp −$39	doesn't fit	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
Bulk TAO-USD	−0.1799%	1h	311.96	−2.561%	$167K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.11	−0.327%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.44	−0.224%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.46	+0.094%	$42K	$579K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	320.26	+0.031%	$92.1M	$440.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.80	−0.112%	$26.0M	$107.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.90	−0.081%	$12.9M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	320.23	+0.022%	$106.2M	$131.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.04	−0.037%	$19.0M	$28.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.77	−0.122%	$35.7M	$49.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	318.79	−0.427%	$36K	$288K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	318.51	−0.515%	$48K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	319.44	−0.225%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.10	−0.331%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.75	−0.128%	$128K	$422K	20x	as long as short
Phemex TAOUSDTshort	+0.0100%	4h	319.50	−0.206%	$3.5M	$7.8M	50x
Aevo TAO-PERP	+0.0104%	1h	319.73	−0.136%	$176K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0105%	8h	320.26	+0.031%	$2K	$595K	5x	as long as short
GRVT TAO_USDT_Perp	+0.0168%	4h	320.12	−0.013%	$532K	$945K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0085%	1h	319.38	−0.243%	$463K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	319.73	−0.134%	$378K	$371K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	320.45	+0.091%	$85K	$545K	5x	as long as short
Paradex TAO-USD-PERP	+0.0226%	8h	319.61	−0.170%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0230%	4h	319.76	−0.126%	$1.1M	$8.1M	50x	as long as short
Bullet TAO-USD	+0.0280%	1h	319.91	−0.079%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0305%	1h	319.26	−0.280%	$22K	$1.5M	25x	as long as short
Variational Omni TAO	+0.0305%	4h	320.13	−0.011%	$5.5M	$8.6M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	319.32	−0.262%	$4.4M	$10.9M	100x	as long as short
Polymarket Perps TAO-USD	+0.0365%	1h	320.29	+0.041%	$100K	$634K	5x	as long as short
BingX TAO-USDTlong	+0.0378%	4h	320.16	long leg	—	$30.8M	—
Kraken Futures PF_TAOUSD	+0.0480%	1h	319.51	−0.202%	$5.8M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	321.00	+0.262%	$336K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.58	+0.131%	$23K	$495	12x	as long as short
Bybit TAOUSDT	+0.0646%	4h	320.27	+0.034%	$66.0M	$130.3M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	319.82	−0.107%	$368	—	20x	as long as short
Nado TAO-PERP	+0.0746%	1h	319.93	−0.073%	$891K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0832%	1h	320.61	+0.141%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	321.35	+0.372%	$1.5M	$6.1M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1014%	1h	320.47	+0.097%	$320K	$820K	10x	as long as short
Extended TAO-USD	+0.1056%	1h	319.94	−0.068%	$934K	$2.2M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	320.37	+0.064%	$423K	$590K	5x	as long as short
Lighter TAO	+0.1760%	1h	320.08	−0.026%	$1.7M	$5.9M	5x	as long as short
Hyperliquid TAO	+0.2904%	1h	321.05	+0.278%	$105.0M	$88.6M	5x	as long as short