TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0106%/8h= −11.6% APRnext payment −$0.53 per $10,000 · paid last 24h −0.016%

Price spread now: Gate against Phemex−0.114%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.412%+$41 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.114%, 7d avg −0.045%

Together, before fees+0.452%+$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.069% cheaper against Phemex than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.045%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.412%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	316.16	0.0206	pay 0.0103% / 4h	1h 47m	$3.2M	$8.1M	50x
Short	Gate TAO_USDT	315.80	0.0100	get 0.0050% / 4h	1h 47m	$15.7M	$47.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phemex. 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 PhemexbpFee GatebpOrdersPrice spread, now −0.114%Rate

Funding earned: −$22.26
Price spread: −0.114% → −0.045%: −$6.89
Slippage, 4 orders: −$38.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$94.33
Costs to cover: 0.652%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Gate: live order book, 4 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 Phemex live order book, 4 min ago	3.00 bp	16.4 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.58 bp	13.5 bp −$13	29.9 bp −$299	64.9 bp −$6,488	122.9 bp −$61.4K

TAO on 43 exchanges

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	315.63	−0.167%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.82	−0.108%	$50K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	−0.051%	$26.8M	$128.1M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	315.80	−0.114%	$15.7M	$47.5M	50x
KuCoin TAOUSDTM	+0.0100%	4h	315.98	−0.057%	$17.5M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.79	−0.117%	$35.8M	$56.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.75	+0.187%	$45K	$253K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.60	−0.177%	$81K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.82	−0.108%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.87	−0.092%	$112K	$564K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0104%	8h	315.72	−0.139%	$890	$1.3M	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	316.03	−0.042%	$174K	$998	3x	as long as short
Bybit TAOUSDT	+0.0120%	4h	316.17	+0.003%	$69.2M	$155.7M	50x	as long as short
Binance TAOUSDT	+0.0136%	4h	316.05	−0.035%	$92.9M	$511.1M	75x	as long as short
MEXC TAO_USDT	+0.0136%	4h	316.19	+0.009%	$106.2M	$147.6M	300x	as long as short
edgeX TAOUSDC	+0.0141%	4h	316.70	+0.171%	$42K	$324K	10x	as long as short
BingX TAO-USDT	+0.0145%	4h	316.07	−0.028%	—	$38.0M	—	as long as short
Lighter TAO	+0.0176%	1h	316.08	−0.025%	$1.6M	$6.6M	5x	as long as short
Paradex TAO-USD-PERP	+0.0203%	8h	315.98	−0.056%	$14K	$876	10x	as long as short
Phemex TAOUSDTlong	+0.0206%	4h	316.16	long leg	$3.2M	$8.1M	50x
Extended TAO-USD	+0.0216%	1h	316.02	−0.043%	$954K	$2.1M	25x	as long as short
Pacifica TAO	+0.0240%	1h	315.98	−0.058%	$374K	$456K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0255%	4h	316.00	−0.051%	$53K	$262K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0262%	4h	317.12	+0.304%	$541K	$805K	10x	as long as short
Bullet TAO-USD	+0.0263%	1h	316.08	−0.025%	$12K	$16K	20x	as long as short
Aster TAOUSDT	+0.0303%	4h	316.11	−0.016%	$1.2M	$11.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0359% / S −0.0107%	1h	315.72	−0.139%	$371K	—	100x	as long as short
BloFin TAO-USDT	+0.0380%	4h	316.03	−0.041%	$4.9M	$10.4M	100x	as long as short
Nado TAO-PERP	+0.0391%	1h	315.89	−0.086%	$694K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0444%	4h	316.43	+0.087%	$5.7M	$9.8M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0451%	1h	316.01	−0.049%	$15K	$1.9M	25x	as long as short
Hyperliquid TAO	+0.0486%	1h	316.19	+0.009%	$95.1M	$107.1M	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	316.22	+0.019%	$100K	$310K	5x	as long as short
01 Exchange TAOUSD	+0.0616%	1h	315.99	−0.054%	$3K	$2K	5x	as long as short
Phoenix TAO	+0.0650%	1h	316.90	+0.234%	$319K	$710K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0660%	1h	316.24	+0.025%	$297K	$1.1M	10x	as long as short
RISEx TAO/USDC	+0.0666%	1h	315.77	−0.124%	$436K	$672K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	316.00	−0.051%	$1.1M	$7.6M	50x	as long as short
dYdX TAO-USD	+0.0696%	1h	315.77	−0.123%	$266K	$230K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	316.25	+0.030%	$364	—	20x	as long as short
Bulk TAO-USD	+0.0807%	1h	318.75	+0.819%	$169K	$0	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0932%	1h	316.11	−0.015%	$6.2M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	320.28	+1.303%	$23K	$2K	12x	as long as short