TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.23 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Bybit−0.459%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.501%−$50 on $10k

Price spread, last 3 days (all we have)+0.455%+$45 · spread now −0.459%, 7d avg −0.019%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.440% cheaper against Bybit than usual: you would sell low and buy high (−$44 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TAOUSDT	315.94	0.0752	pay 0.0376% / 4h	3h 02m	$65.1M	$133.9M	50x
Short	Phemex TAOUSDT	314.49	0.0706	get 0.0353% / 4h	3h 02m	$3.4M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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

Position, each leg$Hold fordaysFee BybitbpFee PhemexbpOrdersPrice spread, now −0.459%Rate

Funding earned: −$9.66
Price spread: −0.459% → −0.019%: −$44.02
Slippage, 4 orders: −$53.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$130.45
Costs to cover: 0.768%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Phemex: live order book, 6 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 Bybit live order book, 1 min ago	0.16 bp	13.9 bp −$14	21.9 bp −$219	44.1 bp −$4,414	doesn't fit
Sell Phemex live order book, 6 min ago	14.55 bp	21.1 bp −$21	doesn't fit	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	−0.1228%	1h	316.14	+0.063%	$168K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.55	−0.440%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	314.56	−0.437%	$14K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.85	−0.345%	$43K	$605K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.42	−0.163%	$90.4M	$452.4M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.90	−0.013%	$25.6M	$109.0M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.50	−0.456%	$12.8M	$51.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.50	−0.456%	$99.7M	$137.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.78	−0.367%	$18.3M	$29.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.64	−0.095%	$35.1M	$51.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.06	+0.353%	$40K	$294K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.35	+0.130%	$524K	$958K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.92	−0.323%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.86	−0.342%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.14	−0.253%	$126K	$422K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.22	−0.228%	$173K	$998	3x	as long as short
Bullet TAO-USD	+0.0106%	1h	314.59	−0.427%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0117%	1h	316.47	+0.168%	$48K	$267K	50x	as long as short
Katana Perps TAO-USD	+0.0121%	8h	314.82	−0.354%	$1K	$647K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0172% / S +0.0102%	1h	314.37	−0.497%	$446K	—	100x	as long as short
Pacifica TAO	+0.0185%	1h	314.69	−0.396%	$373K	$376K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	314.88	−0.336%	$83K	$550K	5x	as long as short
Aster TAOUSDT	+0.0204%	4h	314.85	−0.346%	$1.3M	$8.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0235%	8h	314.64	−0.410%	$14K	$1K	10x	as long as short
Polymarket Perps TAO-USD	+0.0255%	1h	314.68	−0.399%	$92K	$633K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.26	−0.532%	$4.4M	$10.7M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0370%	1h	314.85	−0.346%	$17K	$1.5M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0487%	1h	314.57	−0.435%	$5.7M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.00	+0.336%	$332K	$624K	5x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	315.19	−0.237%	$3K	$4K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	320.46	+1.431%	$23K	$2K	12x	as long as short
Variational Omni TAO	+0.0571%	4h	316.78	+0.265%	$5.5M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	314.46	−0.468%	$362	—	20x	as long as short
BingX TAO-USDT	+0.0702%	4h	315.03	−0.288%	—	$30.7M	—	as long as short
Phemex TAOUSDTshort	+0.0706%	4h	314.49	−0.459%	$3.4M	$7.8M	50x
Bybit TAOUSDTlong	+0.0752%	4h	315.94	long leg	$65.1M	$133.9M	50x
Nado TAO-PERP	+0.0754%	1h	314.80	−0.361%	$779K	$2.1M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0796%	1h	315.21	−0.231%	$319K	$818K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	314.95	−0.313%	$1.5M	$6.4M	50x	as long as short
Extended TAO-USD	+0.1088%	1h	315.86	−0.024%	$879K	$2.3M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	314.67	−0.401%	$418K	$593K	5x	as long as short
Lighter TAO	+0.1400%	1h	314.96	−0.310%	$1.6M	$6.1M	5x	as long as short
Hyperliquid TAO	+0.1739%	1h	315.36	−0.184%	$100.9M	$91.7M	5x	as long as short