TAO

Alert

Funding spread now, next payment 18:00 UTC−0.0356%/8h

next payment, per $10,000−$0.45paid, last 24h−0.090%paid, last 7 days−0.241%to open and close $10k−$41

Long on Phoenix Short on Polymarket Perps

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.241% in total (about -12.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix TAO	284.30	0.0456	pay 0.0057% / 1h	9m 54s	$302K	$160K	5x
Short	Polymarket Perps TAO-USD	285.02	0.0100	get 0.0013% / 1h	9m 54s	$81K	$559K	5x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee Polymarket PerpsbpOrdersRate

Funding earned: −$74.83
Slippage, 4 orders: −$25.77
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$115.6
Break-even: never at this rate

Slippage from Phoenix: live order book, 23 min ago; Polymarket Perps: live order book, 50 min ago.

Price risk

price view

Price gap now: +0.253%
Avg gap 7d: −0.135%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 23 min ago	3.53 bp	7.0 bp −$7	19.6 bp −$196	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 50 min ago	2.14 bp	6.8 bp −$7	7.8 bp −$78	doesn't fit	doesn't fit

TAO on 42 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_TAOUSD	−0.0380%	1h	$5.2M	$13.2M	50x	as long as short
Bulk TAO-USD	−0.0257%	1h	$183K	$38K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	$73K	$35K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0015%	1h	$21K	—	150x	as long as short
Lighter TAO	+0.0096%	1h	$1.3M	$2.1M	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	$40K	$454K	20x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	$1K	$309K	5x	as long as short
Nado TAO-PERP	+0.0100%	1h	$1.0M	$1.2M	10x	as long as short
Aster TAOUSDT	+0.0100%	4h	$1.6M	$4.7M	50x	as long as short
Pacifica TAO	+0.0100%	1h	$330K	$373K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance TAOUSDT	+0.0100%	4h	$76.5M	$322.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	$49.2M	$84.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	$22.4M	$67.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	$125K	$579K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	$11.3M	$43.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	$103.5M	$103.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	$16.9M	$19.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	$32.1M	$35.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	—	$28.9M	—	as long as short
Variational Omni TAO	+0.0100%	4h	$2.8M	$5.1M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	$37K	$270K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	$43K	$265K	50x	as long as short
Polymarket Perps TAO-USDshort	+0.0100%	1h	$81K	$559K	5x
Bullet TAO-USD	+0.0100%	1h	$10K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	$55K	$196K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	$2K	$1.6M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	$117K	$323K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	$3.0M	$7.4M	50x	as long as short
Paradex TAO-USD-PERP	+0.0101%	8h	$13K	$376	10x	as long as short
Extended TAO-USD	+0.0104%	1h	$754K	$1.3M	25x	as long as short
Aevo TAO-PERP	+0.0104%	1h	$157K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0114%	1h	$34K	$942K	25x	as long as short
01 Exchange TAOUSD	+0.0288%	1h	$3K	$4K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	$3.9M	$7.0M	100x	as long as short
Phoenix TAOlong	+0.0456%	1h	$302K	$160K	5x
Hyperliquid TAO	+0.0458%	1h	$78.5M	$53.2M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0479% / S −0.0199%	1h	$434K	—	100x	as long as short
Backpack TAO_USDC_PERP	+0.0506%	1h	$398K	$500K	10x	as long as short
RISEx TAO/USDC	+0.0633%	1h	$319K	$441K	5x	as long as short
Reya TAORUSDPERP	+0.0693%	1h	$328	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0896%	1h	$1.4M	$3.7M	50x	as long as short
Injective TAO/USDC PERP	+0.3836%	1h	$21K	$59K	12x	as long as short