TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0219%/8h= +24.0% APRnext payment +$1.10 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against HTX+0.190%7-day average +0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$251as in the Funding arb table

Net, price: spread back to 7d avg − costs−$202as in the Price arb table

costs, in and out, $10k−$2102.101% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.408%−$41 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now +0.190%, 7d avg +0.113%

Together, before fees−0.402%−$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phemex is 0.077% dearer against HTX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.113%. Mind the row above: over the last 7 days funding on this pair cost −0.408%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TAO-USDT	321.36	0.0100	pay 0.0050% / 4h	1h 18m	$117K	$598K	20x
Short	Phemex TAOUSDT	321.97	0.0319	get 0.0160% / 4h	1h 18m	$3.3M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against HTX. 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 HTXbpFee PhemexbpOrdersPrice spread, now +0.190%Rate

Funding earned: $46.01
Price spread: +0.190% → +0.113%: $7.68
Slippage, 4 orders: −$186.06
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$156.37
Costs to cover: 2.101%
Break-even: 30.8 days

Slippage from HTX: live order book, 25 min ago; Phemex: live order book, 5 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 HTX live order book, 25 min ago	11.74 bp	90.8 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	14.73 bp	42.8 bp −$43	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	−0.2264%	1h	322.24	+0.274%	$171K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	321.78	+0.131%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	322.52	+0.363%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	321.88	+0.162%	$44K	$705K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	321.40	+0.012%	$26.8M	$130.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	321.20	−0.050%	$14.4M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	321.38	+0.006%	$18.0M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	321.25	−0.034%	$36.1M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	322.46	+0.342%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	321.87	+0.159%	$85K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	321.68	+0.100%	$2K	$2.0M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	321.36	long leg	$117K	$598K	20x
Katana Perps TAO-USD	+0.0108%	8h	321.68	+0.100%	$2K	$1.0M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0116% / S +0.0151%	1h	321.58	+0.068%	$430K	—	100x	as long as short
Orderly PERP_TAO_USDC	+0.0126%	4h	321.85	+0.152%	$54K	$293K	10x	as long as short
Aevo TAO-PERP	+0.0136%	1h	322.04	+0.213%	$177K	$998	3x	as long as short
edgeX TAOUSDC	+0.0198%	4h	322.77	+0.439%	$43K	$317K	10x	as long as short
Binance TAOUSDT	+0.0206%	4h	321.83	+0.145%	$93.4M	$527.8M	75x	as long as short
MEXC TAO_USDT	+0.0208%	4h	321.49	+0.040%	$107.4M	$151.0M	300x	as long as short
Paradex TAO-USD-PERP	+0.0277%	8h	321.53	+0.052%	$15K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0316%	4h	321.63	+0.084%	$70.7M	$156.0M	50x	as long as short
Phemex TAOUSDTshort	+0.0319%	4h	321.97	+0.190%	$3.3M	$8.1M	50x
BingX TAO-USDT	+0.0346%	4h	321.54	+0.056%	—	$34.6M	—	as long as short
Aster TAOUSDT	+0.0373%	4h	321.79	+0.133%	$1.3M	$10.9M	50x	as long as short
Bullet TAO-USD	+0.0375%	1h	321.90	+0.168%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0436%	4h	322.51	+0.357%	$547K	$937K	10x	as long as short
Extended TAO-USD	+0.0448%	1h	321.42	+0.020%	$918K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0448%	4h	322.07	+0.221%	$4.7M	$11.1M	100x	as long as short
Nado TAO-PERP	+0.0519%	1h	321.85	+0.153%	$800K	$2.0M	10x	as long as short
Pacifica TAO	+0.0525%	1h	321.49	+0.040%	$366K	$428K	10x	as long as short
Variational Omni TAO	+0.0526%	4h	322.87	+0.469%	$5.7M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	322.40	+0.324%	$321K	$709K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0617%	1h	321.84	+0.149%	$26K	$1.9M	25x	as long as short
Arcus TAO-USD	+0.0641%	1h	321.81	+0.140%	$104K	$389K	5x	as long as short
Hyperliquid TAO	+0.0661%	1h	321.73	+0.115%	$95.2M	$110.0M	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	321.95	+0.184%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	321.84	+0.150%	$370	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0731%	1h	321.62	+0.081%	$300K	$905K	10x	as long as short
Lighter TAO	+0.0760%	1h	321.63	+0.085%	$1.6M	$6.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.77	+0.439%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	321.72	+0.112%	$454K	$670K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1147%	1h	321.87	+0.160%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	325.94	+1.425%	$24K	$2K	12x	as long as short