Funding you earn now, next payment 22:00 UTC+0.0421%/8h= +46.1% APRpaid last 24h +0.081%
Price spread now: Phoenix against Gate+0.262%92s7-day average +0.184% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as 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
Funding, last 7 days+0.174%+$17 on $10k
+Price spread, last 3 days (all we have)+0.161%+$16 · spread now +0.262%, 7d avg +0.184%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phoenix is 0.077% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.184%. The two prices were read 92 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 0.174% in total (about 9.1% 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 | Gate TAO_USDT | 305.80 | 0.0100 | pay 0.0050% / 4h | 1h 15m | $12.2M | $49.1M | 50x |
| Short | Phoenix TAO | 306.60 | 0.0521 | get 0.0065% / 1h | 15m 53s | $321K | $491K | 5x |
Gate TAO_USDT
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Gate. 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
- $88.34
- Price spread: +0.262% → +0.184%
- $7.74
- Slippage, 4 orders
- −$44.66
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $29.42
- Costs to cover
- 0.667%
- Break-even
- 4.7 days
Slippage from Gate: live order book, 3 min ago; Phoenix: live order book, 66 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 Gate live order book, 3 min ago | 3.27 bp | 19.4 bp −$19 | 46.0 bp −$460 | 61.2 bp −$6,124 | 98.8 bp −$49.4K |
| Sell Phoenix live order book, 66 min ago | 3.24 bp | 18.8 bp −$19 | 26.2 bp −$262 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 305.60 | −0.064% | $20K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0015% | 1h | 305.55 | −0.081% | $125K | $85K | 5x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 306.01 | +0.069% | $45K | $539K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 305.92 | +0.039% | $85.6M | $414.4M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 306.09 | +0.095% | $59.3M | $121.5M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 306.00 | +0.065% | $24.6M | $95.5M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 306.23 | +0.141% | $79K | $643K | 5x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 302.77 | −0.991% | $162K | $54K | 10x | as long as short |
| Gate TAO_USDTlong | +0.0100% | 4h | 305.80 | long leg | $12.2M | $49.1M | 50x | |
| MEXC TAO_USDT | +0.0100% | 4h | 305.97 | +0.056% | $113.8M | $125.8M | 300x | as long as short |
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
Popdex TAOUSDT
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
Bulk TAO-USD
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 306.05 | +0.082% | $18.2M | $27.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 305.83 | +0.010% | $34.1M | $46.0M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 305.96 | +0.052% | — | $30.3M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 306.18 | +0.124% | $40K | $279K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.91 | +0.036% | $506K | $967K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 306.00 | +0.065% | $75K | $556K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 305.81 | +0.003% | $11K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 305.83 | +0.010% | $59K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 305.93 | +0.043% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 305.82 | +0.007% | $122K | $368K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 305.92 | +0.039% | $3.3M | $7.9M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0102% | 1h | 306.21 | +0.134% | $46K | $270K | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 305.90 | +0.031% | $168K | $998 | 3x | as long as short |
| Variational Omni TAO | +0.0105% | 4h | 305.97 | +0.055% | $3.7M | $6.7M | — | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 305.98 | +0.059% | $626 | $506K | 5x | as long as short |
| Aster TAOUSDT | +0.0119% | 4h | 305.99 | +0.062% | $1.1M | $7.7M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0155% | 8h | 305.89 | +0.030% | $14K | $1K | 10x | as long as short |
| Pacifica TAO | +0.0164% | 1h | 305.96 | +0.051% | $361K | $370K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 305.59 | −0.070% | $436K | — | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0264% | 1h | 305.95 | +0.049% | $19K | $1.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0319% | 1h | 306.04 | +0.079% | $826K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 305.78 | −0.007% | $4.2M | $9.5M | 100x | as long as short |
| Lighter TAO | +0.0352% | 1h | 306.08 | +0.093% | $1.6M | $5.4M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0408% | 1h | 306.17 | +0.121% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0449% | 1h | 306.13 | +0.108% | $294K | $800K | 10x | as long as short |
| Phoenix TAOshort | +0.0521% | 1h | 306.60 | +0.262% | $321K | $491K | 5x | |
| Reya TAORUSDPERP | +0.0695% | 1h | 305.72 | −0.026% | $352 | — | 20x | as long as short |
| Extended TAO-USD | +0.0744% | 1h | 305.89 | +0.028% | $834K | $2.0M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 306.04 | +0.078% | $1.5M | $5.6M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1032% | 1h | 305.94 | +0.046% | $5.8M | $19.6M | 50x | as long as short |
| Hyperliquid TAO | +0.1083% | 1h | 306.45 | +0.213% | $93.3M | $80.7M | 5x | as long as short |
| RISEx TAO/USDC | +0.1155% | 1h | 306.21 | +0.134% | $417K | $544K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.1621% | 1h | 308.73 | +0.958% | $22K | $264 | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Polymarket Perps TAO-USD
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
ApeX Omni TAOUSDT
Aevo TAO-PERP
Variational Omni TAO
Katana Perps TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Pacifica TAO
GMX TAO/USD [WBTC.b-USDC]
Deribit TAO_USDC-PERPETUAL
Nado TAO-PERP
BloFin TAO-USDT
Lighter TAO
01 Exchange TAOUSD
Backpack TAO_USDC_PERP
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
Hyperliquid TAO
RISEx TAO/USDC
Injective TAO/USDC PERP