Funding you earn now, next payment 01:00 UTC+0.0471%/8h= +51.6% APRpaid last 24h +0.085%
Price spread now: Phoenix against Katana Perps−0.888%7-day average +0.108% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.106%+$11 on $10k
+Price spread, last 4 days (all we have)+2.330%+$233 · spread now −0.888%, 7d avg +0.108%
=Funding pays, the price is against you. Phoenix is 0.996% cheaper against Katana Perps than usual: you would sell low and buy high (spread −0.888% now, against its 7-day average of +0.108%). If the spread goes back, that is −$100 on $10k: about 7.0 days of funding at the current rate (+$14 a day). At the pace of the last 4 days (+0.106% in total) that is about 35 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.106% in total (about 10.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps TAO-USD | 318.83 | 0.0117 | pay 0.0117% / 8h | 6h 15m | $1K | $715K | 5x |
| Short | Phoenix TAO | 316.00 | 0.0588 | get 0.0074% / 1h | 15m 02s | $330K | $681K | 5x |
Katana Perps TAO-USD
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Katana Perps. 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
- $98.97
- Price spread: −0.888% → +0.108%
- −$99.58
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$11.41
- Costs to cover
- 0.108%
- Break-even
- 7.8 days
Slippage unknown: Katana Perps: no order-book sample; Phoenix: live order book, 53 min ago. Net counts fees only.
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 Katana Perps no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 53 min ago | 3.15 bp | 16.6 bp −$17 | 22.7 bp −$227 | doesn't fit | doesn't fit |
Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
TAO on 42 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 | 318.20 | −0.198% | $127K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 317.96 | −0.273% | $10K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 318.33 | −0.157% | $41K | $636K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 318.28 | −0.173% | $91.7M | $468.9M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 318.40 | −0.135% | $26.3M | $114.6M | 50x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 315.28 | −1.113% | $167K | $40K | 10x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 317.60 | −0.386% | $13.0M | $50.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 318.20 | −0.198% | $112.9M | $139.7M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.31 | −0.163% | $18.2M | $30.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 317.91 | −0.289% | $35.5M | $54.0M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Bulk TAO-USD
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 314.93 | −1.223% | $35K | $300K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.80 | −1.264% | $47K | $253K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 318.36 | −0.147% | $58K | $282K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 318.12 | −0.223% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 317.89 | −0.295% | $130K | $474K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 317.85 | −0.307% | $3.4M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 318.69 | −0.044% | $175K | $998 | 3x | as long as short |
| Katana Perps TAO-USDlong | +0.0117% | 8h | 318.83 | long leg | $1K | $715K | 5x | |
| Polymarket Perps TAO-USD | +0.0127% | 1h | 318.52 | −0.097% | $80K | $683K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0166% | 1h | 318.13 | −0.219% | $5.6M | $20.5M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0168% / S +0.0099% | 1h | 317.95 | −0.275% | $435K | — | 100x | as long as short |
| GRVT TAO_USDT_Perp | +0.0176% | 4h | 315.62 | −1.007% | $520K | $954K | 10x | as long as short |
| Bullet TAO-USD | +0.0259% | 1h | 318.36 | −0.147% | $12K | $17K | 20x | as long as short |
| Aster TAOUSDT | +0.0279% | 4h | 318.15 | −0.213% | $1.2M | $9.4M | 50x | as long as short |
| Pacifica TAO | +0.0285% | 1h | 318.84 | +0.002% | $375K | $384K | 10x | as long as short |
| Arcus TAO-USD | +0.0337% | 1h | 318.92 | +0.028% | $100K | $529K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0376% | 8h | 318.73 | −0.032% | $14K | $1K | 10x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 318.67 | −0.050% | $23K | $2K | 12x | as long as short |
| Nado TAO-PERP | +0.0503% | 1h | 318.05 | −0.245% | $794K | $2.1M | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0521% | 1h | 318.36 | −0.148% | $22K | $1.5M | 25x | as long as short |
| Phoenix TAOshort | +0.0588% | 1h | 316.00 | −0.888% | $330K | $681K | 5x | |
| 01 Exchange TAOUSD | +0.0680% | 1h | 319.07 | +0.075% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 318.03 | −0.251% | $366 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0800% | 4h | 317.92 | −0.285% | — | $30.9M | — | as long as short |
| Bybit TAOUSDT | +0.0850% | 4h | 318.50 | −0.104% | $67.6M | $138.6M | 50x | as long as short |
| Variational Omni TAO | +0.0864% | 4h | 317.32 | −0.475% | $5.5M | $8.9M | — | as long as short |
| Extended TAO-USD | +0.0944% | 1h | 318.22 | −0.191% | $913K | $2.3M | 25x | as long as short |
| Backpack TAO_USDC_PERP | +0.0950% | 1h | 318.14 | −0.216% | $321K | $810K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 318.88 | +0.016% | $1.5M | $6.6M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 318.64 | −0.058% | $455K | $631K | 5x | as long as short |
| Hyperliquid TAO | +0.1362% | 1h | 318.38 | −0.141% | $101.2M | $95.3M | 5x | as long as short |
| Lighter TAO | +0.1432% | 1h | 318.60 | −0.073% | $1.7M | $6.1M | 5x | as long as short |
edgeX TAOUSDC
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Polymarket Perps TAO-USD
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]
GRVT TAO_USDT_Perp
Bullet TAO-USD
Aster TAOUSDT
Pacifica TAO
Arcus TAO-USD
Paradex TAO-USD-PERP
Injective TAO/USDC PERP
Nado TAO-PERP
Deribit TAO_USDC-PERPETUAL
01 Exchange TAOUSD
Reya TAORUSDPERP
BingX TAO-USDT
Bybit TAOUSDT
Variational Omni TAO
Extended TAO-USD
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Lighter TAO