Funding you earn now, next payment 23:00 UTC+0.0437%/8h= +47.9% APRpaid last 24h +0.082%
Price spread now: Phoenix against BingX+0.070%49s7-day average +0.152% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as 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−$470.466% of the position
Funding, last 7 days+0.121%+$12 on $10k
+Price spread, last 3 days (all we have)+0.184%+$18 · spread now +0.070%, 7d avg +0.152%
=Funding pays, the price is against you. Phoenix is 0.081% cheaper against BingX than usual: you would sell low and buy high (spread +0.070% now, against its 7-day average of +0.152%). If the spread goes back, that is −$8 on $10k: about 15 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.121% in total) that is about 4.7 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.121% in total (about 6.3% a year). A funding rate is set anew for every payment. 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 | BingX TAO-USDT | 312.28 | 0.0100 | pay 0.0050% / 4h | 20m 32s | — | $30.4M | — |
| Short | Phoenix TAO | 312.50 | 0.0537 | get 0.0067% / 1h | 20m 32s | $327K | $521K | 5x |
BingX TAO-USDT
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BingX. 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
- $91.82
- Price spread: +0.070% → +0.152%
- −$8.14
- Slippage, 4 orders
- −$29.61
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $37.07
- Costs to cover
- 0.466%
- Break-even
- 4.2 days
Slippage from BingX: live order book, 3 min ago; Phoenix: live order book, 57 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 BingX live order book, 3 min ago | 0.80 bp | 5.8 bp −$6 | 12.3 bp −$123 | 28.1 bp −$2,813 | 61.3 bp −$30.7K |
| Sell Phoenix live order book, 57 min ago | 3.27 bp | 18.9 bp −$19 | 24.6 bp −$246 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.4493% | 1h | 315.57 | +1.054% | $169K | $47K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 312.35 | +0.021% | $125K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 312.41 | +0.040% | $27K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 314.95 | +0.855% | $23K | $361 | 12x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 312.35 | +0.022% | $37K | $565K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 312.45 | +0.054% | $370K | $363K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 312.37 | +0.029% | $88.6M | $427.8M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 312.51 | +0.074% | $61.5M | $125.2M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 312.20 | −0.026% | $25.1M | $101.5M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 312.10 | −0.058% | $12.4M | $50.1M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Injective TAO/USDC PERP
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 312.50 | +0.070% | $110.4M | $131.1M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 312.25 | −0.010% | $18.5M | $27.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 312.04 | −0.077% | $34.9M | $46.7M | 50x | as long as short |
| BingX TAO-USDTlong | +0.0100% | 4h | 312.28 | long leg | — | $30.4M | — | |
| edgeX TAOUSDC | +0.0100% | 4h | 311.50 | −0.250% | $40K | $280K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 312.50 | +0.071% | $518K | $956K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 311.35 | −0.298% | $47K | $268K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 312.94 | +0.211% | $77K | $466K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 312.74 | +0.147% | $11K | $17K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 312.54 | +0.083% | $60K | $275K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.48 | +0.064% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.58 | +0.096% | $127K | $408K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 312.61 | +0.106% | $3.3M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.70 | +0.133% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0109% | 8h | 312.43 | +0.048% | $3K | $557K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0150% | 1h | 312.51 | +0.072% | $21K | $1.5M | 25x | as long as short |
| Aster TAOUSDT | +0.0181% | 4h | 312.37 | +0.029% | $1.1M | $7.9M | 50x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 312.62 | +0.109% | $83K | $565K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0190% | 8h | 312.53 | +0.080% | $14K | $1K | 10x | as long as short |
| Variational Omni TAO | +0.0218% | 4h | 312.89 | +0.196% | $3.9M | $7.1M | — | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 312.70 | +0.134% | $4.4M | $10.5M | 100x | as long as short |
| Nado TAO-PERP | +0.0448% | 1h | 312.20 | −0.026% | $822K | $2.0M | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0449% | 1h | 312.57 | +0.093% | $5.7M | $19.9M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0476% / S −0.0175% | 1h | 312.42 | +0.043% | $448K | — | 100x | as long as short |
| Backpack TAO_USDC_PERP | +0.0521% | 1h | 312.60 | +0.102% | $292K | $803K | 10x | as long as short |
| Phoenix TAOshort | +0.0537% | 1h | 312.50 | +0.070% | $327K | $521K | 5x | |
| 01 Exchange TAOUSD | +0.0600% | 1h | 312.70 | +0.134% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 312.73 | +0.144% | $360 | — | 20x | as long as short |
| Extended TAO-USD | +0.0856% | 1h | 312.19 | −0.029% | $859K | $2.1M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 313.27 | +0.317% | $1.5M | $5.8M | 50x | as long as short |
| Lighter TAO | +0.1232% | 1h | 313.33 | +0.336% | $1.6M | $5.8M | 5x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 312.50 | +0.072% | $435K | $567K | 5x | as long as short |
| Hyperliquid TAO | +0.1660% | 1h | 313.23 | +0.304% | $97.6M | $84.2M | 5x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
Aster TAOUSDT
Arcus TAO-USD
Paradex TAO-USD-PERP
Variational Omni TAO
BloFin TAO-USDT
Nado TAO-PERP
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]
Backpack TAO_USDC_PERP
01 Exchange TAOUSD
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Lighter TAO
RISEx TAO/USDC
Hyperliquid TAO