Funding you earn now, next payment 03:00 UTC−0.0352%/8h= −38.5% APRnext payment −$0.44 per $10,000 · paid last 24h +0.407%
Price spread now: Phoenix against Bulk+0.337%51s7-day average +0.235% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$470.471% of the position
Funding, last 4 days (all we have)+0.632%+$63 on $10k
+Price spread, last 4 days (all we have)+0.214%+$21 · spread now +0.337%, 7d avg +0.235%
=The price spread pays, funding is against you. Phoenix is 0.102% dearer against Bulk than usual: you sell high and buy low (spread +0.337% now, against its 7-day average of +0.235%): +$10 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 4 days funding on this pair paid +0.632%, so the current rate has only just turned against you. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk TAO-USD | 314.34 | 0.0933 | pay 0.0117% / 1h | 16m 33s | $167K | $2K | 10x |
| Short | Phoenix TAO | 315.40 | 0.0581 | get 0.0073% / 1h | 16m 33s | $314K | $697K | 5x |
Bulk TAO-USD
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bulk. 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
- −$73.91
- Price spread: +0.337% → +0.235%
- $10.25
- Slippage, 4 orders
- −$33.06
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$110.73
- Costs to cover
- 0.471%
- Break-even
- never at this rate
Slippage from Bulk: live order book, 42 min ago; Phoenix: live order book, 41 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 Bulk live order book, 42 min ago | 0.16 bp | 3.8 bp −$4 | 7.1 bp −$71 | 10.5 bp −$1,053 | doesn't fit |
| Sell Phoenix live order book, 41 min ago | 3.17 bp | 19.2 bp −$19 | 28.6 bp −$286 | 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 | 314.82 | +0.153% | $126K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 314.82 | +0.152% | $20K | — | 150x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0056% | 1h | 315.16 | +0.261% | $5.5M | $20.7M | 50x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 315.05 | +0.226% | $43K | $669K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0098% | 8h | 314.90 | +0.178% | $645 | $799K | 5x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 314.96 | +0.197% | $91.0M | $494.7M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 314.99 | +0.207% | $67.9M | $148.6M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.90 | +0.178% | $26.0M | $120.5M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 314.80 | +0.146% | $12.9M | $50.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 314.97 | +0.200% | $110.8M | $144.1M | 300x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Kraken Futures PF_TAOUSD
Popdex TAOUSDT
Katana Perps TAO-USD
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
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 | 314.87 | +0.169% | $17.7M | $31.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 314.73 | +0.124% | $35.2M | $56.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 314.96 | +0.197% | — | $32.8M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.17 | +0.263% | $42K | $312K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 315.17 | +0.265% | $521K | $955K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 315.00 | +0.210% | $46K | $255K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 314.84 | +0.159% | $77K | $859K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 315.03 | +0.220% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.95 | +0.194% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.82 | +0.153% | $110K | $535K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 315.07 | +0.232% | $3.2M | $8.1M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 315.30 | +0.304% | $173K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0132% | 4h | 315.16 | +0.261% | $57K | $265K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0146% / S +0.0127% | 1h | 314.99 | +0.206% | $419K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0159% | 8h | 315.06 | +0.228% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0185% | 4h | 315.15 | +0.257% | $1.2M | $10.4M | 50x | as long as short |
| Extended TAO-USD | +0.0200% | 1h | 314.91 | +0.182% | $922K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0205% | 1h | 315.17 | +0.263% | $801K | $2.2M | 10x | as long as short |
| Hyperliquid TAO | +0.0267% | 1h | 315.09 | +0.239% | $92.7M | $106.5M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0320% | 1h | 315.15 | +0.258% | $3K | $4K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0330% | 1h | 315.25 | +0.288% | $26K | $1.7M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 315.30 | +0.305% | $4.6M | $10.9M | 100x | as long as short |
| Lighter TAO | +0.0344% | 1h | 315.49 | +0.367% | $1.5M | $6.5M | 5x | as long as short |
| Arcus TAO-USD | +0.0345% | 1h | 315.34 | +0.318% | $99K | $438K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0346% | 1h | 315.51 | +0.372% | $316K | $913K | 10x | as long as short |
| Pacifica TAO | +0.0365% | 1h | 315.19 | +0.272% | $360K | $412K | 10x | as long as short |
| Variational Omni TAO | +0.0497% | 4h | 315.29 | +0.301% | $5.7M | $9.9M | — | as long as short |
| Phoenix TAOshort | +0.0581% | 1h | 315.40 | +0.337% | $314K | $697K | 5x | |
| Reya TAORUSDPERP | +0.0697% | 1h | 314.86 | +0.166% | $362 | — | 20x | as long as short |
| Bulk TAO-USDlong | +0.0933% | 1h | 314.34 | long leg | $167K | $2K | 10x | |
| RISEx TAO/USDC | +0.0991% | 1h | 315.07 | +0.234% | $435K | $651K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 316.12 | +0.566% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4222% | 1h | 318.85 | +1.435% | $23K | $2K | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Aster TAOUSDT
Extended TAO-USD
Nado TAO-PERP
Hyperliquid TAO
01 Exchange TAOUSD
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
Lighter TAO
Arcus TAO-USD
Backpack TAO_USDC_PERP
Pacifica TAO
Variational Omni TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP