Funding you earn now, next payment 10:00 UTC−0.0550%/8h= −60.3% APRpaid last 24h −0.107%
Price spread now: Bitget against Phoenix−0.242%7-day average −0.176% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$630.632% of the position
Funding, last 7 days−0.214%−$21 on $10k
+Price spread, last 4 days (all we have)−0.284%−$28 · spread now −0.242%, 7d avg −0.176%
=Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Bitget is 0.067% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.176%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.214% in total (about -11.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TAO | 317.60 | 0.0650 | pay 0.0081% / 1h | 52m 45s | $319K | $710K | 5x |
| Short | Bitget TAOUSDT | 316.83 | 0.0100 | get 0.0050% / 4h | 1h 52m | $35.9M | $56.0M | 50x |
Phoenix TAO
Bitget TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phoenix. 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
- −$115.59
- Price spread: −0.242% → −0.176%
- −$6.68
- Slippage, 4 orders
- −$44.23
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$185.5
- Costs to cover
- 0.632%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 58 min ago; Bitget: 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 Phoenix live order book, 58 min ago | 3.13 bp | 19.0 bp −$19 | 85.3 bp −$853 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 1.73 bp | 12.5 bp −$12 | 15.7 bp −$157 | 18.8 bp −$1,877 | doesn't fit |
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 | 316.86 | −0.233% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 317.23 | −0.116% | $50K | $632K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 316.90 | −0.220% | $26.9M | $128.4M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 316.70 | −0.283% | $15.8M | $47.3M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 317.00 | −0.189% | $17.6M | $31.4M | 75x | as long as short |
| Bitget TAOUSDTshort | +0.0100% | 4h | 316.83 | −0.242% | $35.9M | $56.0M | 50x | |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 317.79 | +0.060% | $45K | $253K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 316.86 | −0.233% | $81K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 316.96 | −0.202% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 316.50 | −0.346% | $113K | $563K | 20x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDTShow all 43 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TAOUSDT | +0.0100% | 4h | 317.25 | −0.110% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0104% | 8h | 316.98 | −0.195% | $3K | $1.3M | 5x | as long as short |
| Bybit TAOUSDT | +0.0106% | 4h | 317.04 | −0.176% | $69.4M | $155.5M | 50x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 317.23 | −0.116% | $174K | $998 | 3x | as long as short |
| Binance TAOUSDT | +0.0141% | 4h | 317.01 | −0.186% | $93.2M | $511.5M | 75x | as long as short |
| MEXC TAO_USDT | +0.0146% | 4h | 317.13 | −0.148% | $103.6M | $146.9M | 300x | as long as short |
| BingX TAO-USDT | +0.0152% | 4h | 317.00 | −0.189% | — | $37.9M | — | as long as short |
| edgeX TAOUSDC | +0.0153% | 4h | 318.61 | +0.317% | $42K | $322K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0208% | 8h | 317.28 | −0.100% | $14K | $876 | 10x | as long as short |
| Extended TAO-USD | +0.0208% | 1h | 317.07 | −0.168% | $953K | $2.1M | 25x | as long as short |
| Lighter TAO | +0.0232% | 1h | 317.14 | −0.145% | $1.6M | $6.6M | 5x | as long as short |
| Pacifica TAO | +0.0240% | 1h | 317.26 | −0.107% | $376K | $456K | 10x | as long as short |
| Bullet TAO-USD | +0.0243% | 1h | 317.26 | −0.107% | $12K | $17K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0255% | 4h | 317.13 | −0.148% | $53K | $262K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0268% | 4h | 317.35 | −0.080% | $541K | $805K | 10x | as long as short |
| Aster TAOUSDT | +0.0310% | 4h | 317.09 | −0.162% | $1.2M | $11.2M | 50x | as long as short |
| Nado TAO-PERP | +0.0355% | 1h | 317.12 | −0.150% | $699K | $2.0M | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0360% / S −0.0107% | 1h | 316.75 | −0.268% | $372K | — | 100x | as long as short |
| BloFin TAO-USDT | +0.0386% | 4h | 317.05 | −0.173% | $4.9M | $10.4M | 100x | as long as short |
| Variational Omni TAO | +0.0445% | 4h | 318.15 | +0.174% | $5.7M | $9.8M | — | as long as short |
| Hyperliquid TAO | +0.0454% | 1h | 317.13 | −0.148% | $95.5M | $107.0M | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0501% | 1h | 317.17 | −0.135% | $15K | $1.9M | 25x | as long as short |
| dYdX TAO-USD | +0.0555% | 1h | 316.92 | −0.214% | $267K | $230K | 5x | as long as short |
| Arcus TAO-USD | +0.0610% | 1h | 317.52 | −0.025% | $100K | $310K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0625% | 1h | 317.27 | −0.104% | $298K | $1.1M | 10x | as long as short |
| Phoenix TAOlong | +0.0650% | 1h | 317.60 | long leg | $319K | $710K | 5x | |
| RISEx TAO/USDC | +0.0666% | 1h | 317.13 | −0.150% | $437K | $680K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0672% | 1h | 317.33 | −0.085% | $3K | $2K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0688% | 1h | 317.19 | −0.129% | $1.1M | $7.6M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 317.14 | −0.145% | $365 | — | 20x | as long as short |
| Bulk TAO-USD | +0.0807% | 1h | 318.75 | +0.362% | $169K | $0 | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0929% | 1h | 317.32 | −0.089% | $6.2M | $19.5M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4405% | 1h | 322.67 | +1.596% | $23K | $2K | 12x | as long as short |
Phemex TAOUSDT
Katana Perps TAO-USD
Bybit TAOUSDT
Aevo TAO-PERP
Binance TAOUSDT
MEXC TAO_USDT
BingX TAO-USDT
edgeX TAOUSDC
Paradex TAO-USD-PERP
Extended TAO-USD
Lighter TAO
Pacifica TAO
Bullet TAO-USD
Orderly PERP_TAO_USDC
GRVT TAO_USDT_Perp
Aster TAOUSDT
Nado TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
BloFin TAO-USDT
Variational Omni TAO
Hyperliquid TAO
Deribit TAO_USDC-PERPETUAL
dYdX TAO-USD
Arcus TAO-USD
Backpack TAO_USDC_PERP
RISEx TAO/USDC
01 Exchange TAOUSD
Coinbase International TAO-PERP-INTX
Reya TAORUSDPERP
Bulk TAO-USD
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP