Funding you earn now, next payment 03:00 UTC+0.0237%/8h= +26.0% APRnext payment +$0.30 per $10,000 · paid last 24h −0.030%
Price spread now: Phoenix against Lighter+0.035%7-day average +0.062% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$490.488% of the position
Funding, last 7 days−0.022%−$2 on $10k
+Price spread, last 4 days (all we have)+0.375%+$37 · spread now +0.035%, 7d avg +0.062%
=Together, before fees+0.353%+ Points / potential airdropLighter: Season 3 · farm board+$35 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.027% cheaper against Lighter than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.062%). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$7 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.022% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. 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 | Lighter TAO | 314.99 | 0.0344 | pay 0.0043% / 1h | 13m 31s | $1.5M | $6.5M | 5x |
| Short | Phoenix TAO | 315.10 | 0.0581 | get 0.0073% / 1h | 13m 31s | $314K | $697K | 5x |
Lighter TAO
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- $49.77
- Price spread: +0.035% → +0.062%
- −$2.75
- Slippage, 4 orders
- −$41.8
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$1.77
- Costs to cover
- 0.488%
- Break-even
- 7.2 days
Slippage from Lighter: live order book, 5 min ago; Phoenix: live order book, 44 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 Lighter live order book, 5 min ago | 1.09 bp | 6.6 bp −$7 | 16.8 bp −$168 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 44 min ago | 3.17 bp | 19.2 bp −$19 | 28.6 bp −$286 | 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 | 314.54 | −0.143% | $125K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 314.63 | −0.116% | $20K | — | 150x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0056% | 1h | 314.59 | −0.127% | $5.5M | $20.6M | 50x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 314.81 | −0.057% | $43K | $668K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0098% | 8h | 314.66 | −0.105% | $644 | $799K | 5x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 314.89 | −0.031% | $91.0M | $494.9M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 314.86 | −0.041% | $67.9M | $149.0M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.80 | −0.060% | $26.0M | $120.5M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 314.50 | −0.156% | $12.9M | $50.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 314.89 | −0.032% | $110.8M | $144.1M | 300x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Kraken Futures PF_TAOUSD
Popdex TAOUSDT
Katana Perps TAO-USD
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.57 | −0.133% | $17.7M | $31.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 314.56 | −0.137% | $35.2M | $56.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 314.85 | −0.044% | — | $32.8M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.09 | +0.031% | $42K | $313K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 314.71 | −0.090% | $521K | $956K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 315.38 | +0.124% | $46K | $255K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 314.64 | −0.111% | $77K | $859K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 314.90 | −0.029% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.75 | −0.076% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 313.63 | −0.432% | $109K | $535K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 314.61 | −0.121% | $3.2M | $8.1M | 50x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 314.68 | −0.098% | $167K | $2K | 10x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.71 | −0.088% | $173K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0132% | 4h | 314.84 | −0.048% | $52K | $271K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0145% / S +0.0122% | 1h | 314.66 | −0.106% | $428K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0156% | 8h | 314.78 | −0.068% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0172% | 4h | 314.67 | −0.101% | $1.2M | $10.4M | 50x | as long as short |
| Extended TAO-USD | +0.0200% | 1h | 314.68 | −0.098% | $923K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0215% | 1h | 314.61 | −0.120% | $800K | $2.2M | 10x | as long as short |
| Hyperliquid TAO | +0.0269% | 1h | 314.93 | −0.019% | $92.6M | $106.5M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0328% | 1h | 314.94 | −0.016% | $3K | $4K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 314.96 | −0.010% | $4.6M | $10.9M | 100x | as long as short |
| Backpack TAO_USDC_PERP | +0.0344% | 1h | 314.73 | −0.083% | $315K | $913K | 10x | as long as short |
| Lighter TAOlong | +0.0344% | 1h | 314.99 | long leg | $1.5M | $6.5M | 5x | |
| Arcus TAO-USD | +0.0345% | 1h | 315.06 | +0.022% | $99K | $438K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0354% | 1h | 314.62 | −0.116% | $23K | $1.7M | 25x | as long as short |
| Pacifica TAO | +0.0365% | 1h | 314.76 | −0.073% | $359K | $412K | 10x | as long as short |
| Variational Omni TAO | +0.0461% | 4h | 315.17 | +0.057% | $5.7M | $9.9M | — | as long as short |
| Phoenix TAOshort | +0.0581% | 1h | 315.10 | +0.035% | $314K | $697K | 5x | |
| Reya TAORUSDPERP | +0.0697% | 1h | 314.86 | −0.043% | $362 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0991% | 1h | 314.81 | −0.057% | $436K | $652K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 316.12 | +0.359% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4222% | 1h | 318.19 | +1.016% | $23K | $2K | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Bulk TAO-USD
Aevo TAO-PERP
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Aster TAOUSDT
Extended TAO-USD
Nado TAO-PERP
Hyperliquid TAO
01 Exchange TAOUSD
BloFin TAO-USDT
Backpack TAO_USDC_PERP
Arcus TAO-USD
Deribit TAO_USDC-PERPETUAL
Pacifica TAO
Variational Omni TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP