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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0348%/8h= +38.2% APRpaid last 24h +0.081%
Price spread now: Phoenix against Paradex−0.456%46s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on ParadexShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories
Funding pays, the price is against you. Phoenix is 0.456% cheaper against Paradex than usual: you would sell low and buy high (spread −0.456% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$46 on $10k: about 4.4 days of funding at the current rate (+$10 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongParadex TAO-USD-PERP314.230.0189pay 0.0189% / 8h37m 58s$14K$1K10x
ShortPhoenix TAO312.800.0537get 0.0067% / 1h37m 58s$327K$521K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Paradex. 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

Funding earned
$73.17
Price spread: −0.456% → 0.000%
−$45.61
Slippage, 4 orders
no order book: not counted
Fee Paradex: 2 bp × 2 orders
−$4
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$16.55
Costs to cover
0.110%
Break-even
5.4 days
Slippage unknown: Paradex: no order-book sample; Phoenix: live order book, 39 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Paradex no order-book sample—————
Sell Phoenix live order book, 39 min ago3.27 bp18.9 bp −$1924.6 bp −$246doesn't fitdoesn't fit
Paradex: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.4478%1h313.97−0.084%$168K$48K10xas long as short
dYdX TAO-USD0.0000%1h313.41−0.262%$125K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h313.55−0.218%$21K—150xas long as short
Injective TAO/USDC PERP+0.0033%1h314.39+0.050%$23K$26012xas long as short
Popdex TAOUSDT+0.0096%1h314.50+0.085%$43K$552K20xas long as short
Pacifica TAO+0.0100%1h313.79−0.142%$372K$369K10xas long as short
Binance TAOUSDT+0.0100%4h314.04−0.060%$88.8M$425.5M75xas long as short
Bybit TAOUSDT+0.0100%4h314.37+0.043%$61.7M$124.0M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h314.10−0.042%$25.2M$101.1M50xas long as short
Gate TAO_USDT+0.0100%4h313.60−0.202%$12.7M$49.3M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC TAO_USDT+0.0100%4h313.72−0.163%$120.8M$127.9M300xas long as short
KuCoin TAOUSDTM+0.0100%4h313.97−0.084%$19.0M$27.7M75xas long as short
Bitget TAOUSDT+0.0100%4h314.01−0.071%$35.0M$46.5M50xas long as short
BingX TAO-USDT+0.0100%4h313.90−0.106%—$30.2M—as long as short
edgeX TAOUSDC+0.0100%4h312.40−0.583%$40K$279K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h312.53−0.542%$526K$948K10xas long as short
Bullet TAO-USD+0.0100%1h313.91−0.103%$11K$17K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h313.67−0.179%$60K$276K10xas long as short
SunX TAO-USDT+0.0100%4h313.56−0.214%$2K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h314.74+0.161%$129K$395K20xas long as short
Phemex TAOUSDT+0.0100%4h313.66−0.182%$3.3M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h313.85−0.121%$172K$9983xas long as short
Katana Perps TAO-USD+0.0110%8h314.41+0.056%$2K$541K5xas long as short
ApeX Omni TAOUSDT+0.0118%1h312.28−0.622%$47K$270K50xas long as short
Polymarket Perps TAO-USD+0.0123%1h314.50+0.085%$77K$520K5xas long as short
Arcus TAO-USD+0.0186%1h314.51+0.088%$83K$606K5xas long as short
Paradex TAO-USD-PERPlong+0.0189%8h314.23long leg$14K$1K10x
Variational Omni TAO+0.0194%4h312.41−0.582%$3.9M$7.0M—as long as short
Aster TAOUSDT+0.0202%4h313.80−0.138%$1.1M$7.9M50xas long as short
BloFin TAO-USDT+0.0347%4h313.20−0.329%$4.4M$10.2M100xas long as short
Deribit TAO_USDC-PERPETUAL+0.0349%1h313.75−0.154%$19K$1.4M25xas long as short
Kraken Futures PF_TAOUSD+0.0448%1h313.77−0.147%$5.8M$19.9M50xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0477% / S −0.0175%1h313.54−0.221%$451K—100xas long as short
Nado TAO-PERP+0.0483%1h314.45+0.070%$833K$2.0M10xas long as short
Phoenix TAOshort+0.0537%1h312.80−0.456%$327K$521K5x
Backpack TAO_USDC_PERP+0.0541%1h314.00−0.074%$301K$799K10xas long as short
Reya TAORUSDPERP+0.0695%1h314.10−0.041%$361—20xas long as short
01 Exchange TAOUSD+0.0712%1h314.72+0.155%$3K$4K5xas long as short
Extended TAO-USD+0.0872%1h314.15−0.025%$863K$2.1M25xas long as short
Coinbase International TAO-PERP-INTX+0.0960%1h314.64+0.129%$1.5M$5.8M50xas long as short
RISEx TAO/USDC+0.1238%1h314.57+0.107%$433K$548K5xas long as short
Lighter TAO+0.1352%1h314.26+0.009%$1.6M$5.8M5xas long as short
Hyperliquid TAO+0.1866%1h314.41+0.056%$97.9M$83.2M5xas long as short