TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0259%/8h= −28.4% APRnext payment −$1.30 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Phemex+0.128%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Phemex Short on Binance

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)−0.177%−$18 · spread now +0.128%, 7d avg −0.006%

Together, before fees+0.242%+$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.134% dearer against Phemex than usual: you sell high and buy low (spread +0.128% now, against its 7-day average of −0.006%): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 41 hours. Mind the row above: over the last 7 days funding on this pair paid +0.419%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	313.09	0.0359	pay 0.0180% / 4h	2h 49m	$3.1M	$7.9M	50x
Short	Binance TAOUSDT	313.49	0.0100	get 0.0050% / 4h	2h 49m	$89.6M	$504.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.128%Rate

Funding earned: −$54.44
Price spread: +0.128% → −0.006%: $13.41
Slippage, 4 orders: −$23.43
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$86.46
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 9 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 Phemex live order book, 4 min ago	3.21 bp	17.4 bp −$17	47.5 bp −$475	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.16 bp	5.8 bp −$6	13.3 bp −$133	33.2 bp −$3,322	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
dYdX TAO-USD	0.0000%	1h	312.98	−0.034%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.94	−0.047%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	313.25	+0.051%	$641	$878K	5x	as long as short
Binance TAOUSDTshort	+0.0100%	4h	313.49	+0.128%	$89.6M	$504.8M	75x
OKX TAO-USDT-SWAP	+0.0100%	8h	313.30	+0.067%	$26.2M	$121.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.20	+0.035%	$13.6M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.42	+0.105%	$104.6M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.49	+0.128%	$17.5M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.20	+0.035%	$35.3M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.14	−0.304%	$41K	$314K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	313.27	+0.057%	$81K	$908K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.92	−0.054%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.72	−0.118%	$111K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.30	+0.067%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	313.18	+0.029%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0132% / S +0.0137%	1h	312.88	−0.067%	$419K	—	100x	as long as short
Bulk TAO-USD	+0.0138%	1h	312.42	−0.213%	$166K	$333	10x	as long as short
Aster TAOUSDT	+0.0153%	4h	313.17	+0.025%	$1.3M	$10.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0224%	8h	313.48	+0.125%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0233%	1h	313.48	+0.124%	$357K	$419K	10x	as long as short
Popdex TAOUSDT	+0.0248%	1h	313.58	+0.157%	$49K	$662K	20x	as long as short
Nado TAO-PERP	+0.0254%	1h	313.33	+0.077%	$779K	$2.2M	10x	as long as short
ApeX Omni TAOUSDT	+0.0255%	1h	312.72	−0.118%	$46K	$255K	50x	as long as short
GRVT TAO_USDT_Perp	+0.0260%	4h	313.21	+0.040%	$532K	$942K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0305%	1h	312.92	−0.055%	$5.5M	$20.7M	50x	as long as short
Bullet TAO-USD	+0.0328%	1h	313.25	+0.053%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.00	−0.029%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0358%	4h	313.50	+0.131%	—	$33.7M	—	as long as short
Phemex TAOUSDTlong	+0.0359%	4h	313.09	long leg	$3.1M	$7.9M	50x
Variational Omni TAO	+0.0371%	4h	313.10	+0.003%	$5.5M	$10.1M	—	as long as short
Bybit TAOUSDT	+0.0383%	4h	313.58	+0.157%	$67.9M	$151.2M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	313.40	+0.099%	$902K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0483%	1h	313.71	+0.198%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	313.30	+0.067%	$312K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0529%	1h	313.17	+0.026%	$11K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.40	+0.098%	$360	—	20x	as long as short
Hyperliquid TAO	+0.0705%	1h	313.49	+0.127%	$91.8M	$108.4M	5x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	313.94	+0.271%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0827%	1h	313.24	+0.048%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0888%	1h	313.63	+0.174%	$1.5M	$6.5M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	313.67	+0.185%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	313.51	+0.134%	$450K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	316.07	+0.952%	$23K	$2K	12x	as long as short