Funding you earn now, next payment 10:00 UTC+0.0353%/8h= +38.7% APRpaid last 24h +0.094%
Price spread now: Phoenix against Bybit0.000%7-day average +0.101% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$480.485% of the position
Funding, last 7 days+0.203%+$20 on $10k
+Price spread, last 4 days (all we have)+0.389%+$39 · spread now 0.000%, 7d avg +0.101%
=Funding pays, the price is against you. Phoenix is 0.101% cheaper against Bybit than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.101%). If the spread goes back, that is −$10 on $10k: about 23 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.203% in total) that is about 3.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.203% in total (about 10.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TAOUSDT | 315.00 | 0.0297 | pay 0.0149% / 4h | 1h 05m | $69.3M | $155.1M | 50x |
| Short | Phoenix TAO | 315.00 | 0.0650 | get 0.0081% / 1h | 5m 12s | $317K | $710K | 5x |
Bybit TAOUSDT
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $74.16
- Price spread: 0.000% → +0.101%
- −$10.1
- Slippage, 4 orders
- −$30.47
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $15.58
- Costs to cover
- 0.485%
- Break-even
- 5.5 days
Slippage from Bybit: live order book, 2 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 Bybit live order book, 2 min ago | 0.16 bp | 9.7 bp −$10 | 16.3 bp −$163 | 36.9 bp −$3,694 | doesn't fit |
| Sell Phoenix live order book, 41 min ago | 3.16 bp | 18.4 bp −$18 | 25.7 bp −$257 | doesn't fit | doesn't fit |
TAO on 43 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 314.20 | −0.254% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 314.75 | −0.079% | $54K | $634K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.70 | −0.095% | $26.8M | $126.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 314.40 | −0.190% | $16.1M | $48.7M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.75 | −0.079% | $17.4M | $31.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 314.44 | −0.178% | $35.6M | $55.3M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 315.02 | +0.006% | $45K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 314.70 | −0.095% | $69K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.52 | −0.152% | $2K | $1.7M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.29 | −0.225% | $112K | $547K | 20x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDTShow all 43 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps TAO-USD | +0.0102% | 8h | 314.48 | −0.165% | $2K | $1.3M | 5x | as long as short |
| Extended TAO-USD | +0.0104% | 1h | 314.61 | −0.124% | $947K | $2.1M | 25x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 314.81 | −0.060% | $173K | $998 | 3x | as long as short |
| MEXC TAO_USDT | +0.0152% | 4h | 314.65 | −0.111% | $110.6M | $150.7M | 300x | as long as short |
| edgeX TAOUSDC | +0.0152% | 4h | 314.18 | −0.259% | $42K | $324K | 10x | as long as short |
| Binance TAOUSDT | +0.0155% | 4h | 314.91 | −0.029% | $93.3M | $510.5M | 75x | as long as short |
| Lighter TAO | +0.0232% | 1h | 314.97 | −0.009% | $1.5M | $6.8M | 5x | as long as short |
| Pacifica TAO | +0.0240% | 1h | 314.50 | −0.160% | $372K | $455K | 10x | as long as short |
| Phemex TAOUSDT | +0.0247% | 4h | 314.71 | −0.092% | $3.2M | $8.2M | 50x | as long as short |
| GRVT TAO_USDT_Perp | +0.0256% | 4h | 314.85 | −0.047% | $535K | $786K | 10x | as long as short |
| BingX TAO-USDT | +0.0264% | 4h | 314.73 | −0.086% | — | $37.9M | — | as long as short |
| Paradex TAO-USD-PERP | +0.0267% | 8h | 314.40 | −0.191% | $14K | $876 | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0268% | 4h | 314.63 | −0.117% | $53K | $262K | 10x | as long as short |
| Bybit TAOUSDTlong | +0.0297% | 4h | 315.00 | long leg | $69.3M | $155.1M | 50x | |
| Bullet TAO-USD | +0.0308% | 1h | 314.74 | −0.082% | $12K | $16K | 20x | as long as short |
| Aster TAOUSDT | +0.0319% | 4h | 314.92 | −0.025% | $1.2M | $11.4M | 50x | as long as short |
| Nado TAO-PERP | +0.0347% | 1h | 314.77 | −0.072% | $670K | $2.0M | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0359% / S −0.0107% | 1h | 314.52 | −0.153% | $369K | — | 100x | as long as short |
| BloFin TAO-USDT | +0.0393% | 4h | 314.86 | −0.044% | $4.9M | $10.5M | 100x | as long as short |
| dYdX TAO-USD | +0.0403% | 1h | 314.17 | −0.265% | $265K | $230K | 5x | as long as short |
| Hyperliquid TAO | +0.0533% | 1h | 314.88 | −0.038% | $94.4M | $104.9M | 5x | as long as short |
| Variational Omni TAO | +0.0539% | 4h | 314.94 | −0.019% | $5.8M | $9.9M | — | as long as short |
| 01 Exchange TAOUSD | +0.0608% | 1h | 315.16 | +0.051% | $3K | $2K | 5x | as long as short |
| Arcus TAO-USD | +0.0610% | 1h | 314.86 | −0.044% | $99K | $312K | 5x | as long as short |
| Phoenix TAOshort | +0.0650% | 1h | 315.00 | 0.000% | $317K | $710K | 5x | |
| Deribit TAO_USDC-PERPETUAL | +0.0655% | 1h | 314.65 | −0.110% | $30K | $1.9M | 25x | as long as short |
| RISEx TAO/USDC | +0.0666% | 1h | 314.52 | −0.152% | $439K | $655K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0688% | 1h | 315.38 | +0.121% | $1.1M | $7.5M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 314.71 | −0.093% | $362 | — | 20x | as long as short |
| Backpack TAO_USDC_PERP | +0.0758% | 1h | 314.70 | −0.095% | $296K | $1.1M | 10x | as long as short |
| Bulk TAO-USD | +0.0916% | 1h | 314.85 | −0.049% | $167K | $662 | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0936% | 1h | 314.87 | −0.042% | $6.3M | $19.6M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4405% | 1h | 319.29 | +1.362% | $23K | $2K | 12x | as long as short |
Katana Perps TAO-USD
Extended TAO-USD
Aevo TAO-PERP
MEXC TAO_USDT
edgeX TAOUSDC
Binance TAOUSDT
Lighter TAO
Pacifica TAO
Phemex TAOUSDT
GRVT TAO_USDT_Perp
BingX TAO-USDT
Paradex TAO-USD-PERP
Orderly PERP_TAO_USDC
Bullet TAO-USD
Aster TAOUSDT
Nado TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
BloFin TAO-USDT
dYdX TAO-USD
Hyperliquid TAO
Variational Omni TAO
01 Exchange TAOUSD
Arcus TAO-USD
Deribit TAO_USDC-PERPETUAL
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Reya TAORUSDPERP
Backpack TAO_USDC_PERP
Bulk TAO-USD
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP