Funding you earn now, next payment 08:00 UTC+0.0278%/8h= +30.4% APRnext payment +$0.35 per $10,000 · paid last 24h +0.077%
Price spread now: Phoenix against Pacifica+0.471%47s7-day average +0.125% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as 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−$490.488% of the position
Funding, last 7 days+0.164%+$16 on $10k
+Price spread, last 4 days (all we have)+0.192%+$19 · spread now +0.471%, 7d avg +0.125%
=Together, before fees+0.356%+ Points / potential airdropPacifica: Active · farm board+$36 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.346% dearer against Pacifica than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of +0.125%. The two prices were read 47 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 0.164% in total (about 8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 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 | Pacifica TAO | 322.78 | 0.0301 | pay 0.0038% / 1h | 58m 38s | $376K | $439K | 10x |
| Short | Phoenix TAO | 324.30 | 0.0578 | get 0.0072% / 1h | 58m 38s | $326K | $705K | 5x |
Pacifica TAO
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Pacifica. 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
- $58.29
- Price spread: +0.471% → +0.125%
- $34.59
- Slippage, 4 orders
- −$33.78
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $44.1
- Costs to cover
- 0.488%
- Break-even
- 1.7 days
Slippage from Pacifica: live order book, 35 min ago; Phoenix: live order book, 34 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 Pacifica live order book, 35 min ago | 1.75 bp | 8.8 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 34 min ago | 3.18 bp | 18.5 bp −$18 | 25.8 bp −$258 | 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 | −0.0241% | 1h | 318.85 | −1.219% | $169K | $0 | 10x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 324.21 | +0.443% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 322.55 | −0.071% | $51K | $704K | 20x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 322.21 | −0.176% | $70.9M | $155.1M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 322.60 | −0.055% | $27.0M | $131.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 322.40 | −0.117% | $15.4M | $47.9M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 322.53 | −0.077% | $17.6M | $32.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 322.35 | −0.133% | $36.4M | $56.7M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 323.32 | +0.168% | $89K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 322.74 | −0.012% | $2K | $1.9M | 20x | as long as short |
Bulk TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TAO-USDT | +0.0100% | 4h | 323.02 | +0.075% | $117K | $552K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 322.67 | −0.034% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0115% | 8h | 322.68 | −0.031% | $660 | $1.2M | 5x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 323.04 | +0.079% | $177K | $998 | 3x | as long as short |
| edgeX TAOUSDC | +0.0156% | 4h | 323.71 | +0.288% | $43K | $323K | 10x | as long as short |
| MEXC TAO_USDT | +0.0158% | 4h | 322.71 | −0.021% | $106.9M | $148.8M | 300x | as long as short |
| BingX TAO-USDT | +0.0158% | 4h | 322.64 | −0.043% | — | $38.9M | — | as long as short |
| Binance TAOUSDT | +0.0161% | 4h | 322.22 | −0.173% | $94.8M | $519.6M | 75x | as long as short |
| Paradex TAO-USD-PERP | +0.0224% | 8h | 322.61 | −0.054% | $15K | $876 | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0246% | 4h | 323.05 | +0.084% | $55K | $272K | 10x | as long as short |
| Extended TAO-USD | +0.0280% | 1h | 322.54 | −0.074% | $979K | $2.2M | 25x | as long as short |
| Pacifica TAOlong | +0.0301% | 1h | 322.78 | long leg | $376K | $439K | 10x | |
| GRVT TAO_USDT_Perp | +0.0304% | 4h | 323.87 | +0.337% | $550K | $826K | 10x | as long as short |
| Aster TAOUSDT | +0.0325% | 4h | 322.50 | −0.086% | $1.3M | $11.2M | 50x | as long as short |
| Arcus TAO-USD | +0.0364% | 1h | 323.00 | +0.068% | $102K | $329K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0369% / S −0.0109% | 1h | 323.08 | +0.093% | $383K | — | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0384% | 1h | 322.87 | +0.028% | $20K | $1.9M | 25x | as long as short |
| ApeX Omni TAOUSDT | +0.0392% | 1h | 323.88 | +0.341% | $46K | $256K | 50x | as long as short |
| BloFin TAO-USDT | +0.0398% | 4h | 323.12 | +0.106% | $4.8M | $11.0M | 100x | as long as short |
| Variational Omni TAO | +0.0522% | 4h | 323.77 | +0.306% | $5.7M | $9.8M | — | as long as short |
| Bullet TAO-USD | +0.0528% | 1h | 323.31 | +0.164% | $13K | $17K | 20x | as long as short |
| Backpack TAO_USDC_PERP | +0.0571% | 1h | 322.97 | +0.059% | $301K | $1.1M | 10x | as long as short |
| Phoenix TAOshort | +0.0578% | 1h | 324.30 | +0.471% | $326K | $705K | 5x | |
| Kraken Futures PF_TAOUSD | +0.0673% | 1h | 323.10 | +0.099% | $6.3M | $21.0M | 50x | as long as short |
| dYdX TAO-USD | +0.0679% | 1h | 322.41 | −0.114% | $272K | $232K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 323.21 | +0.134% | $372 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0701% | 1h | 322.57 | −0.065% | $444K | $714K | 5x | as long as short |
| Lighter TAO | +0.0736% | 1h | 322.86 | +0.025% | $1.6M | $6.6M | 5x | as long as short |
| Nado TAO-PERP | +0.0765% | 1h | 323.47 | +0.215% | $735K | $2.0M | 10x | as long as short |
| 01 Exchange TAOUSD | +0.0808% | 1h | 323.00 | +0.068% | $3K | $4K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0832% | 1h | 323.45 | +0.208% | $1.1M | $7.5M | 50x | as long as short |
| Hyperliquid TAO | +0.1107% | 1h | 323.07 | +0.090% | $97.6M | $110.0M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.3320% | 1h | 327.96 | +1.605% | $24K | $2K | 12x | as long as short |
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
Aevo TAO-PERP
edgeX TAOUSDC
MEXC TAO_USDT
BingX TAO-USDT
Binance TAOUSDT
Paradex TAO-USD-PERP
Orderly PERP_TAO_USDC
Extended TAO-USD
GRVT TAO_USDT_Perp
Aster TAOUSDT
Arcus TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Deribit TAO_USDC-PERPETUAL
ApeX Omni TAOUSDT
BloFin TAO-USDT
Variational Omni TAO
Bullet TAO-USD
Backpack TAO_USDC_PERP
Kraken Futures PF_TAOUSD
dYdX TAO-USD
Reya TAORUSDPERP
RISEx TAO/USDC
Lighter TAO
Nado TAO-PERP
01 Exchange TAOUSD
Coinbase International TAO-PERP-INTX
Hyperliquid TAO
Injective TAO/USDC PERP