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: Orderly against Phemex−0.204%53s7-day average 0.000% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.363%+$36 on $10k
+Price spread, last 4 days (all we have)+0.191%+$19 · spread now −0.204%, 7d avg 0.000%
=Funding pays, the price is against you. Orderly is 0.204% cheaper against Phemex than usual: you would sell low and buy high (spread −0.204% now, against its 7-day average of 0.000%). If the spread goes back, that is −$20 on $10k: about 46 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.363% in total) that is about 3.9 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TAOUSDT | 313.17 | 0.0100 | pay 0.0050% / 4h | 3h 16m | $3.1M | $8.0M | 50x |
| Short | Orderly PERP_TAO_USDC | 312.53 | 0.0115 | get 0.0057% / 4h | 3h 16m | $52K | $290K | 10x |
Phemex TAOUSDT
Orderly PERP_TAO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Phemex. 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
- $3.11
- Price spread: −0.204% → 0.000%
- −$20.43
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$35.32
- Costs to cover
- 0.180%
- Break-even
- 86.4 days
Slippage unknown: Phemex: live order book, 3 min ago; Orderly: no order-book sample. 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 Phemex live order book, 3 min ago | 3.52 bp | 18.3 bp −$18 | 36.4 bp −$364 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
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 | −0.234% | $5.5M | $20.7M | 50x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 312.33 | −0.268% | $20K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0011% | 1h | 312.57 | −0.192% | $125K | $85K | 5x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 312.56 | −0.195% | $46K | $656K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0099% | 8h | 312.45 | −0.230% | $640 | $845K | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 312.87 | −0.095% | $356K | $416K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 312.61 | −0.179% | $89.5M | $501.4M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 312.60 | −0.182% | $26.1M | $121.0M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 312.40 | −0.246% | $13.3M | $50.4M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 312.96 | −0.067% | $103.0M | $145.5M | 300x | as long as short |
Kraken Futures PF_TAOUSD
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
Popdex TAOUSDT
Katana Perps TAO-USD
Pacifica TAO
Binance 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 | 312.46 | −0.227% | $17.8M | $31.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 312.20 | −0.310% | $35.0M | $56.5M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 311.63 | −0.492% | $41K | $314K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 311.55 | −0.518% | $529K | $956K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 312.33 | −0.268% | $46K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 312.40 | −0.246% | $82K | $905K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 312.63 | −0.172% | $12K | $17K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.33 | −0.268% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 313.03 | −0.045% | $111K | $542K | 20x | as long as short |
| Phemex TAOUSDTlong | +0.0100% | 4h | 313.17 | long leg | $3.1M | $8.0M | 50x | |
| BingX TAO-USDT | +0.0104% | 4h | 312.52 | −0.208% | — | $33.7M | — | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.71 | −0.145% | $172K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDCshort | +0.0115% | 4h | 312.53 | −0.204% | $52K | $290K | 10x | |
| Aster TAOUSDT | +0.0117% | 4h | 312.55 | −0.197% | $1.3M | $10.5M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0136% / S +0.0132% | 1h | 312.30 | −0.279% | $422K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0160% | 8h | 312.93 | −0.078% | $14K | $1K | 10x | as long as short |
| Bybit TAOUSDT | +0.0200% | 4h | 312.67 | −0.160% | $67.4M | $150.6M | 50x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 313.06 | −0.035% | $101K | $394K | 5x | as long as short |
| Variational Omni TAO | +0.0308% | 4h | 311.97 | −0.383% | $5.5M | $10.1M | — | as long as short |
| Extended TAO-USD | +0.0320% | 1h | 312.43 | −0.235% | $914K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0333% | 1h | 312.59 | −0.186% | $789K | $2.2M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 313.40 | +0.073% | $4.5M | $10.8M | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0428% | 1h | 312.50 | −0.213% | $13K | $1.8M | 25x | as long as short |
| Phoenix TAO | +0.0457% | 1h | 313.70 | +0.169% | $312K | $711K | 5x | as long as short |
| Hyperliquid TAO | +0.0475% | 1h | 312.74 | −0.137% | $91.9M | $107.8M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0488% | 1h | 312.97 | −0.064% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0509% | 1h | 312.89 | −0.089% | $311K | $885K | 10x | as long as short |
| Lighter TAO | +0.0632% | 1h | 313.05 | −0.040% | $1.5M | $6.5M | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 312.52 | −0.207% | $359 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 312.63 | −0.172% | $443K | $647K | 5x | as long as short |
| Bulk TAO-USD | +0.0817% | 1h | 310.92 | −0.718% | $165K | $333 | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 314.25 | +0.345% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 316.67 | +1.118% | $23K | $2K | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
BingX TAO-USDT
Aevo TAO-PERP
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Bybit TAOUSDT
Arcus TAO-USD
Variational Omni TAO
Extended TAO-USD
Nado TAO-PERP
BloFin TAO-USDT
Deribit TAO_USDC-PERPETUAL
Phoenix TAO
Hyperliquid TAO
01 Exchange TAOUSD
Backpack TAO_USDC_PERP
Lighter TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Bulk TAO-USD
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP