TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0136%/8h= −14.9% APRnext payment −$0.68 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Bybit−0.214%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

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

costs, in and out, $10k−$650.646% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.501%−$50 on $10k

Price spread, last 3 days (all we have)+0.212%+$21 · spread now −0.214%, 7d avg −0.020%

Together, before fees−0.289%−$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.194% cheaper against Bybit than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.020%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	308.16	0.0774	pay 0.0387% / 4h	2h 39m	$62.9M	$135.7M	50x
Short	Phemex TAOUSDT	307.50	0.0639	get 0.0319% / 4h	2h 39m	$3.3M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now −0.214%Rate

Funding earned: −$28.53
Price spread: −0.214% → −0.020%: −$19.42
Slippage, 4 orders: −$41.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$112.5
Costs to cover: 0.646%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 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 Bybit live order book, 4 min ago	0.16 bp	10.0 bp −$10	18.9 bp −$189	43.8 bp −$4,378	doesn't fit
Sell Phemex live order book, 4 min ago	10.84 bp	26.6 bp −$27	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
dYdX TAO-USD	0.0000%	1h	307.32	−0.272%	$123K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	306.43	−0.561%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	306.80	−0.441%	$45K	$606K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.70	−0.148%	$88.8M	$460.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.40	+0.078%	$25.2M	$108.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	307.50	−0.214%	$12.5M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.64	−0.169%	$103.4M	$137.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.70	−0.149%	$17.9M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.57	−0.191%	$34.3M	$53.1M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	309.15	+0.320%	$34K	$298K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	309.02	+0.280%	$515K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.11	+0.308%	$46K	$268K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.02	−0.370%	$56K	$283K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.13	−0.334%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.33	−0.269%	$126K	$471K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.33	−0.269%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0116%	8h	307.02	−0.370%	$688	$680K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0102%	1h	306.38	−0.579%	$412K	—	100x	as long as short
Aster TAOUSDT	+0.0170%	4h	307.60	−0.182%	$1.2M	$9.2M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0172%	1h	307.45	−0.231%	$5.5M	$20.4M	50x	as long as short
Polymarket Perps TAO-USD	+0.0206%	1h	306.64	−0.493%	$76K	$643K	5x	as long as short
Bullet TAO-USD	+0.0218%	1h	306.70	−0.475%	$12K	$17K	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0224%	1h	307.18	−0.318%	$15K	$1.5M	25x	as long as short
Paradex TAO-USD-PERP	+0.0275%	8h	307.24	−0.299%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	307.43	−0.236%	$363K	$378K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	307.49	−0.217%	$81K	$551K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+0.974%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+2.424%	$23K	$2K	12x	as long as short
Phoenix TAO	+0.0588%	1h	308.80	+0.208%	$323K	$681K	5x	as long as short
Nado TAO-PERP	+0.0591%	1h	306.54	−0.527%	$746K	$2.1M	10x	as long as short
Phemex TAOUSDTshort	+0.0639%	4h	307.50	−0.214%	$3.3M	$8.0M	50x
01 Exchange TAOUSD	+0.0640%	1h	307.16	−0.325%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	306.58	−0.513%	$353	—	20x	as long as short
Variational Omni TAO	+0.0734%	4h	308.15	−0.004%	$5.3M	$8.9M	—	as long as short
BingX TAO-USDT	+0.0736%	4h	307.81	−0.114%	—	$31.0M	—	as long as short
Bybit TAOUSDTlong	+0.0774%	4h	308.16	long leg	$62.9M	$135.7M	50x
Backpack TAO_USDC_PERP	+0.0841%	1h	307.80	−0.117%	$311K	$814K	10x	as long as short
Extended TAO-USD	+0.0952%	1h	307.65	−0.165%	$880K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	307.35	−0.263%	$1.4M	$6.2M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	307.17	−0.323%	$409K	$604K	5x	as long as short
Hyperliquid TAO	+0.1248%	1h	307.92	−0.078%	$97.3M	$93.4M	5x	as long as short
Lighter TAO	+0.1360%	1h	308.23	+0.021%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+1.376%	$166K	$40K	10x	as long as short