TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.12 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against edgeX+0.431%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.419%−$42 on $10k

Price spread, last 4 days (all we have)−0.357%−$36 · spread now +0.431%, 7d avg +0.026%

Together, before fees−0.775%+ Points / potential airdropedgeX: Active · farm board−$78 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.404% dearer against edgeX than usual: you sell high and buy low (spread +0.431% now, against its 7-day average of +0.026%): +$40 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 58 days. At the pace of the last 7 days (−0.419% in total) that is about 6.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TAOUSDC	321.43	0.0123	pay 0.0062% / 4h	2h 05m	$42K	$316K	10x
Short	Phemex TAOUSDT	322.81	0.0100	get 0.0050% / 4h	2h 05m	$3.3M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +0.431%Rate

Funding earned: −$4.84
Price spread: +0.431% → +0.026%: $40.42
Slippage, 4 orders: −$46.98
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$32.4
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from edgeX: live order book, 43 min ago; Phemex: 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 edgeX live order book, 43 min ago	6.37 bp	10.9 bp −$11	24.5 bp −$245	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	15.14 bp	22.9 bp −$23	41.9 bp −$419	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	−0.1195%	1h	319.01	−0.751%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	322.61	+0.368%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0028%	1h	323.78	+0.731%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	323.10	+0.521%	$26.9M	$128.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	322.70	+0.396%	$14.2M	$52.1M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	322.92	+0.465%	$17.8M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	322.84	+0.440%	$36.5M	$57.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.63	+0.375%	$83K	$965K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.65	+0.381%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	322.15	+0.225%	$118K	$566K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex TAOUSDTshort	+0.0100%	4h	322.81	+0.431%	$3.3M	$8.1M	50x
Katana Perps TAO-USD	+0.0110%	8h	323.85	+0.754%	$3K	$957K	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	322.90	+0.459%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	322.87	+0.449%	$53K	$291K	10x	as long as short
Popdex TAOUSDT	+0.0120%	1h	323.28	+0.577%	$42K	$679K	20x	as long as short
edgeX TAOUSDClong	+0.0123%	4h	321.43	long leg	$42K	$316K	10x
MEXC TAO_USDT	+0.0124%	4h	323.23	+0.561%	$103.4M	$149.0M	300x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0142%	1h	322.67	+0.387%	$433K	—	100x	as long as short
Binance TAOUSDT	+0.0135%	4h	323.90	+0.769%	$93.6M	$517.0M	75x	as long as short
Pacifica TAO	+0.0233%	1h	324.18	+0.857%	$369K	$421K	10x	as long as short
Nado TAO-PERP	+0.0285%	1h	322.62	+0.371%	$814K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0292%	4h	323.67	+0.698%	$1.3M	$10.8M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0295%	1h	323.08	+0.516%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0300%	8h	324.04	+0.814%	$15K	$1K	10x	as long as short
Bullet TAO-USD	+0.0326%	1h	323.12	+0.527%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0375%	4h	322.90	+0.459%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	323.13	+0.530%	—	$34.0M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0448%	1h	322.85	+0.442%	$14K	$1.8M	25x	as long as short
Bybit TAOUSDT	+0.0462%	4h	324.32	+0.900%	$71.0M	$154.4M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	+0.183%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	324.01	+0.804%	$104K	$371K	5x	as long as short
Extended TAO-USD	+0.0504%	1h	322.86	+0.446%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	+0.645%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	+0.670%	$5.7M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0529%	1h	321.20	−0.070%	$47K	$257K	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	322.51	+0.337%	$371	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	323.94	+0.782%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	323.23	+0.561%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0819%	1h	323.30	+0.583%	$95.3M	$109.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0852%	1h	323.10	+0.521%	$320K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	325.00	+1.112%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.25	+0.566%	$464K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.683%	$24K	$2K	12x	as long as short