Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

TAO

all TAO markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 07:00 UTC+0.0355%/8h= +38.9% APRnext payment +$0.44 per $10,000 · paid last 24h +0.154%
Price spread now: Coinbase International against Phoenix−0.154%48s7-day average +0.067% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$670.667% of the position
Long on PhoenixShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days+0.399%+$40 on $10k
Price spread, last 4 days (all we have)+0.340%+$34 · spread now −0.154%, 7d avg +0.067%
Together, before fees+0.739%+$74 on $10k · with fees, hour by hour
Funding pays, the price is against you. Coinbase International is 0.222% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.154% now, against its 7-day average of +0.067%). If the spread goes back, that is −$22 on $10k: about 2.1 days of funding at the current rate (+$11 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix TAO317.200.0629pay 0.0079% / 1h35m 33s$316K$703K5x
ShortCoinbase International TAO-PERP-INTX316.710.0984get 0.0123% / 1h35m 33s$1.4M$6.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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
$74.52
Price spread: −0.154% → +0.067%
−$22.15
Slippage, 4 orders
−$49.67
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$14.31
Costs to cover
0.667%
Break-even
8.3 days
Slippage from Phoenix: live order book, 67 min ago; Coinbase International: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 67 min ago3.12 bp19.0 bp −$1986.7 bp −$867doesn't fitdoesn't fit
Sell Coinbase International live order book, 3 min ago8.34 bp14.5 bp −$1519.3 bp −$193doesn't fitdoesn't fit

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
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0005%1h316.51−0.216%$22K—150xas long as short
dYdX TAO-USD+0.0037%1h316.13−0.338%$126K$85K5xas long as short
Popdex TAOUSDT+0.0096%1h316.51−0.218%$44K$711K20xas long as short
OKX TAO-USDT-SWAP+0.0100%8h316.30−0.284%$26.3M$130.2M50xas long as short
Gate TAO_USDT+0.0100%4h316.20−0.315%$14.4M$51.3M50xas long as short
KuCoin TAOUSDTM+0.0100%4h316.44−0.240%$17.7M$32.4M75xas long as short
Bitget TAOUSDT+0.0100%4h316.14−0.334%$35.6M$58.0M50xas long as short
ApeX Omni TAOUSDT+0.0100%1h316.70−0.158%$46K$260K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h316.30−0.284%$87K$1.2M5xas long as short
SunX TAO-USDT+0.0100%4h316.64−0.177%$1K$2.0M20xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX TAO-USDT+0.0100%4h315.90−0.410%$115K$604K20xas long as short
Katana Perps TAO-USD+0.0107%8h316.29−0.287%$4K$1.1M5xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0107% / S +0.0136%1h316.52−0.213%$403K—100xas long as short
Aevo TAO-PERP+0.0128%1h316.92−0.090%$174K$9983xas long as short
Orderly PERP_TAO_USDC+0.0149%4h316.68−0.164%$52K$294K10xas long as short
Binance TAOUSDT+0.0167%4h316.51−0.218%$91.7M$530.6M75xas long as short
MEXC TAO_USDT+0.0170%4h316.46−0.233%$99.8M$151.5M300xas long as short
edgeX TAOUSDC+0.0179%4h316.75−0.143%$42K$319K10xas long as short
Paradex TAO-USD-PERP+0.0236%8h316.70−0.157%$14K$1K10xas long as short
Bybit TAOUSDT+0.0263%4h316.56−0.202%$69.3M$156.6M50xas long as short
Bullet TAO-USD+0.0269%1h316.84−0.113%$12K$17K20xas long as short
BingX TAO-USDT+0.0280%4h316.36−0.265%—$37.0M—as long as short
Pacifica TAO+0.0313%1h316.66−0.169%$371K$452K10xas long as short
Bulk TAO-USD+0.0317%1h319.23+0.640%$170K$010xas long as short
Deribit TAO_USDC-PERPETUAL+0.0318%1h316.74−0.145%$15K$1.9M25xas long as short
GRVT TAO_USDT_Perp+0.0318%4h317.09−0.034%$541K$918K10xas long as short
Extended TAO-USD+0.0320%1h316.24−0.303%$903K$2.4M25xas long as short
Aster TAOUSDT+0.0326%4h316.44−0.240%$1.3M$11.0M50xas long as short
BloFin TAO-USDT+0.0415%4h316.72−0.151%$4.7M$10.9M100xas long as short
Arcus TAO-USD+0.0473%1h316.53−0.211%$102K$381K5xas long as short
Nado TAO-PERP+0.0487%1h316.31−0.280%$786K$2.0M10xas long as short
Phemex TAOUSDT+0.0509%4h316.69−0.161%$3.2M$8.2M50xas long as short
Lighter TAO+0.0528%1h316.63−0.179%$1.6M$6.9M5xas long as short
Variational Omni TAO+0.0534%4h316.88−0.100%$5.5M$10.2M—as long as short
Phoenix TAOlong+0.0629%1h317.20long leg$316K$703K5x
Backpack TAO_USDC_PERP+0.0675%1h316.98−0.069%$292K$906K10xas long as short
01 Exchange TAOUSD+0.0680%1h316.55−0.205%$3K$4K5xas long as short
Reya TAORUSDPERP+0.0698%1h316.35−0.268%$364—20xas long as short
Hyperliquid TAO+0.0737%1h316.62−0.183%$93.6M$110.1M5xas long as short
RISEx TAO/USDC+0.0831%1h316.36−0.266%$443K$670K5xas long as short
Kraken Futures PF_TAOUSD+0.0836%1h316.90−0.094%$5.9M$21.6M50xas long as short
Coinbase International TAO-PERP-INTXshort+0.0984%1h316.71−0.154%$1.4M$6.9M50x
Injective TAO/USDC PERP+0.4513%1h322.94+1.810%$23K$2K12xas long as short