TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0015%/8h= −1.6% APRnext payment −$0.07 per $10,000 · paid last 24h −0.001%

Price spread now: Phemex against Orderly+0.032%7-day average 0.000% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.363%−$36 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.032%, 7d avg 0.000%

Together, before fees−0.382%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.032% dearer against Orderly than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of 0.000%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 7.2 days. At the pace of the last 7 days (−0.363% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TAO_USDC	312.53	0.0115	pay 0.0057% / 4h	3h 16m	$52K	$290K	10x
Short	Phemex TAOUSDT	312.63	0.0100	get 0.0050% / 4h	3h 16m	$3.1M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Orderly. 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 OrderlybpFee PhemexbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$3.11
Price spread: +0.032% → 0.000%: $3.19
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$17.92
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 3 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 Orderly no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	3.52 bp	24.1 bp −$24	42.7 bp −$427	doesn't fit	doesn't fit

Orderly: 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 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
Kraken Futures PF_TAOUSD	−0.0347%	1h	312.44	−0.029%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.33	−0.064%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0011%	1h	312.57	+0.013%	$125K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.56	+0.010%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	312.45	−0.026%	$640	$845K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.87	+0.110%	$356K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.57	+0.014%	$89.5M	$501.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.60	+0.022%	$26.1M	$121.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.40	−0.042%	$13.3M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.58	+0.016%	$103.1M	$145.6M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	312.44	−0.029%	$17.8M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.32	−0.067%	$35.1M	$56.5M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.63	−0.288%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.55	−0.314%	$529K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.33	−0.064%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.40	−0.042%	$82K	$905K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.63	+0.032%	$12K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.33	−0.064%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.20	−0.106%	$110K	$542K	20x	as long as short
Phemex TAOUSDTshort	+0.0100%	4h	312.63	+0.032%	$3.1M	$8.0M	50x
BingX TAO-USDT	+0.0104%	4h	312.56	+0.010%	—	$33.7M	—	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.71	+0.059%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDClong	+0.0115%	4h	312.53	long leg	$52K	$290K	10x
Aster TAOUSDT	+0.0117%	4h	312.53	0.000%	$1.3M	$10.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0136% / S +0.0132%	1h	312.30	−0.075%	$422K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0160%	8h	312.93	+0.127%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0200%	4h	312.70	+0.054%	$67.4M	$150.6M	50x	as long as short
Arcus TAO-USD	+0.0231%	1h	313.06	+0.170%	$101K	$394K	5x	as long as short
Variational Omni TAO	+0.0308%	4h	311.97	−0.179%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0320%	1h	312.43	−0.030%	$914K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0333%	1h	312.59	+0.018%	$789K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.40	+0.278%	$4.5M	$10.8M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0428%	1h	312.50	−0.009%	$13K	$1.8M	25x	as long as short
Phoenix TAO	+0.0457%	1h	313.70	+0.374%	$312K	$711K	5x	as long as short
Hyperliquid TAO	+0.0476%	1h	312.78	+0.080%	$91.9M	$107.8M	5x	as long as short
01 Exchange TAOUSD	+0.0488%	1h	312.97	+0.141%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0505%	1h	312.63	+0.032%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0640%	1h	312.83	+0.096%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.52	−0.003%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.63	+0.032%	$443K	$647K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.515%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	313.56	+0.330%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	316.67	+1.325%	$23K	$2K	12x	as long as short