Funding you earn now, next payment 06:00 UTC+0.0467%/8h= +51.1% APRpaid last 24h +0.094%
Price spread now: Phoenix against KuCoin+0.288%78s7-day average +0.133% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$680.678% of the position
Funding, last 7 days+0.203%+$20 on $10k
+Price spread, last 4 days (all we have)−0.151%−$15 · spread now +0.288%, 7d avg +0.133%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Phoenix is 0.155% dearer against KuCoin than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.133%. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.
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 is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin TAOUSDTM | 319.38 | 0.0100 | pay 0.0050% / 4h | 1h 40m | $17.8M | $32.1M | 75x |
| Short | Phoenix TAO | 320.30 | 0.0567 | get 0.0071% / 1h | 40m 05s | $319K | $709K | 5x |
KuCoin TAOUSDTM
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. 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
- $98.08
- Price spread: +0.288% → +0.133%
- $15.51
- Slippage, 4 orders
- −$48.84
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $45.75
- Costs to cover
- 0.678%
- Break-even
- 3.7 days
Slippage from KuCoin: live order book, 9 min ago; Phoenix: live order book, 68 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 KuCoin live order book, 9 min ago | 1.09 bp | 20.3 bp −$20 | 33.0 bp −$330 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 68 min ago | 3.18 bp | 14.9 bp −$15 | 18.0 bp −$180 | 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 | −0.2019% | 1h | 319.65 | +0.085% | $170K | $333 | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 319.66 | +0.088% | $127K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.54 | +0.049% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 320.22 | +0.263% | $41K | $696K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.30 | −0.025% | $26.5M | $129.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 319.40 | +0.006% | $14.2M | $51.7M | 50x | as long as short |
| KuCoin TAOUSDTMlong | +0.0100% | 4h | 319.38 | long leg | $17.8M | $32.1M | 75x | |
| Bitget TAOUSDT | +0.0100% | 4h | 319.06 | −0.100% | $35.8M | $58.4M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 319.81 | +0.135% | $45K | $258K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 320.00 | +0.194% | $79K | $1.1M | 5x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
Bitget TAOUSDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TAO-USDT | +0.0100% | 4h | 319.33 | −0.016% | $1K | $2.0M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.46 | +0.025% | $118K | $588K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0109% | 8h | 320.04 | +0.207% | $726 | $1.0M | 5x | as long as short |
| Phemex TAOUSDT | +0.0117% | 4h | 319.86 | +0.150% | $3.3M | $8.1M | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0120% | 4h | 319.66 | +0.088% | $53K | $292K | 10x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 319.73 | +0.111% | $176K | $998 | 3x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0120% / S +0.0157% | 1h | 319.48 | +0.032% | $432K | — | 100x | as long as short |
| edgeX TAOUSDC | +0.0152% | 4h | 320.03 | +0.205% | $42K | $318K | 10x | as long as short |
| MEXC TAO_USDT | +0.0156% | 4h | 319.49 | +0.034% | $104.9M | $149.7M | 300x | as long as short |
| Binance TAOUSDT | +0.0158% | 4h | 319.41 | +0.009% | $92.4M | $527.3M | 75x | as long as short |
| Paradex TAO-USD-PERP | +0.0262% | 8h | 320.06 | +0.214% | $15K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0314% | 4h | 319.53 | +0.046% | $1.3M | $10.9M | 50x | as long as short |
| Bybit TAOUSDT | +0.0380% | 4h | 319.43 | +0.016% | $69.7M | $155.8M | 50x | as long as short |
| Bullet TAO-USD | +0.0389% | 1h | 319.84 | +0.145% | $12K | $17K | 20x | as long as short |
| BloFin TAO-USDT | +0.0398% | 4h | 319.77 | +0.122% | $4.7M | $11.1M | 100x | as long as short |
| BingX TAO-USDT | +0.0398% | 4h | 319.38 | 0.000% | — | $34.5M | — | as long as short |
| GRVT TAO_USDT_Perp | +0.0408% | 4h | 319.70 | +0.099% | $544K | $940K | 10x | as long as short |
| Extended TAO-USD | +0.0488% | 1h | 319.59 | +0.065% | $917K | $2.4M | 25x | as long as short |
| Pacifica TAO | +0.0525% | 1h | 320.13 | +0.235% | $365K | $423K | 10x | as long as short |
| Variational Omni TAO | +0.0535% | 4h | 319.70 | +0.100% | $5.6M | $10.2M | — | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0540% | 1h | 319.62 | +0.076% | $14K | $1.9M | 25x | as long as short |
| Phoenix TAOshort | +0.0567% | 1h | 320.30 | +0.288% | $319K | $709K | 5x | |
| 01 Exchange TAOUSD | +0.0632% | 1h | 320.41 | +0.322% | $3K | $4K | 5x | as long as short |
| Arcus TAO-USD | +0.0641% | 1h | 320.45 | +0.335% | $103K | $394K | 5x | as long as short |
| Nado TAO-PERP | +0.0646% | 1h | 320.14 | +0.239% | $802K | $2.2M | 10x | as long as short |
| Hyperliquid TAO | +0.0654% | 1h | 319.69 | +0.097% | $94.4M | $110.2M | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0677% | 1h | 319.53 | +0.047% | $300K | $904K | 10x | as long as short |
| Reya TAORUSDPERP | +0.0698% | 1h | 319.82 | +0.138% | $368 | — | 20x | as long as short |
| Lighter TAO | +0.0864% | 1h | 319.89 | +0.159% | $1.5M | $6.7M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 320.89 | +0.473% | $1.5M | $6.9M | 50x | as long as short |
| RISEx TAO/USDC | +0.1077% | 1h | 320.06 | +0.214% | $462K | $663K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1154% | 1h | 319.80 | +0.131% | $6.0M | $21.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4723% | 1h | 323.63 | +1.331% | $24K | $2K | 12x | as long as short |
SunX TAO-USDT
HTX TAO-USDT
Katana Perps TAO-USD
Phemex TAOUSDT
Orderly PERP_TAO_USDC
Aevo TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
edgeX TAOUSDC
MEXC TAO_USDT
Binance TAOUSDT
Paradex TAO-USD-PERP
Aster TAOUSDT
Bybit TAOUSDT
Bullet TAO-USD
BloFin TAO-USDT
BingX TAO-USDT
GRVT TAO_USDT_Perp
Extended TAO-USD
Pacifica TAO
Variational Omni TAO
Deribit TAO_USDC-PERPETUAL
01 Exchange TAOUSD
Arcus TAO-USD
Nado TAO-PERP
Hyperliquid TAO
Backpack TAO_USDC_PERP
Reya TAORUSDPERP
Lighter TAO
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP