TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0545%/8h= −59.7% APRnext payment −$2.73 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Phemex−0.227%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$640.641% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.447%+$45 on $10k

Price spread, last 4 days (all we have)+0.195%+$19 · spread now −0.227%, 7d avg −0.047%

Together, before fees+0.642%+$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Gate is 0.180% cheaper against Phemex than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.047%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.447%, 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	317.52	0.0645	pay 0.0323% / 4h	1h 01m	$3.2M	$8.2M	50x
Short	Gate TAO_USDT	316.80	0.0100	get 0.0050% / 4h	1h 01m	$14.3M	$52.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.227%Rate

Funding earned: −$114.55
Price spread: −0.227% → −0.047%: −$18.02
Slippage, 4 orders: −$37.15
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$196.71
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	1.89 bp	12.8 bp −$13	34.2 bp −$342	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	3.15 bp	17.5 bp −$18	34.0 bp −$340	65.6 bp −$6,559	111.9 bp −$55.9K

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	−0.0237%	1h	320.94	+1.077%	$171K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.74	−0.247%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.79	−0.229%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	317.04	−0.151%	$43K	$707K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.30	−0.069%	$26.5M	$129.6M	50x	as long as short
Gate TAO_USDTshort	+0.0100%	4h	316.80	−0.227%	$14.3M	$52.5M	50x
KuCoin TAOUSDTM	+0.0100%	4h	317.39	−0.041%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.10	−0.132%	$35.6M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.23	+0.539%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.98	−0.170%	$84K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	316.89	−0.198%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.85	−0.211%	$115K	$602K	20x	as long as short
Katana Perps TAO-USD	+0.0108%	8h	316.98	−0.170%	$2K	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0112% / S +0.0155%	1h	316.80	−0.228%	$424K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	317.11	−0.128%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0133%	4h	317.20	−0.101%	$53K	$293K	10x	as long as short
Binance TAOUSDT	+0.0172%	4h	317.40	−0.038%	$92.1M	$528.9M	75x	as long as short
MEXC TAO_USDT	+0.0178%	4h	317.40	−0.038%	$107.2M	$152.0M	300x	as long as short
edgeX TAOUSDC	+0.0185%	4h	317.44	−0.024%	$42K	$319K	10x	as long as short
Paradex TAO-USD-PERP	+0.0232%	8h	317.31	−0.066%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0253%	4h	317.50	−0.006%	$69.6M	$156.0M	50x	as long as short
BingX TAO-USDT	+0.0256%	4h	317.07	−0.142%	—	$36.7M	—	as long as short
Bullet TAO-USD	+0.0298%	1h	317.44	−0.026%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0331%	4h	317.21	−0.096%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0336%	1h	317.45	−0.022%	$904K	$2.4M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0336%	4h	316.65	−0.276%	$540K	$926K	10x	as long as short
BloFin TAO-USDT	+0.0412%	4h	317.47	−0.016%	$4.7M	$11.0M	100x	as long as short
Variational Omni TAO	+0.0514%	4h	319.69	+0.683%	$5.7M	$10.2M	—	as long as short
Nado TAO-PERP	+0.0514%	1h	317.28	−0.076%	$786K	$2.0M	10x	as long as short
Pacifica TAO	+0.0525%	1h	317.35	−0.052%	$360K	$429K	10x	as long as short
Phoenix TAO	+0.0567%	1h	317.40	−0.038%	$316K	$709K	5x	as long as short
Lighter TAO	+0.0568%	1h	317.58	+0.018%	$1.6M	$6.9M	5x	as long as short
Hyperliquid TAO	+0.0581%	1h	317.17	−0.110%	$93.8M	$110.1M	5x	as long as short
01 Exchange TAOUSD	+0.0608%	1h	317.17	−0.110%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0609%	1h	317.25	−0.087%	$15K	$2.0M	25x	as long as short
Arcus TAO-USD	+0.0641%	1h	317.44	−0.025%	$102K	$389K	5x	as long as short
Phemex TAOUSDTlong	+0.0645%	4h	317.52	long leg	$3.2M	$8.2M	50x
Backpack TAO_USDC_PERP	+0.0664%	1h	316.97	−0.173%	$295K	$905K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	317.07	−0.143%	$365	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	317.68	+0.050%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	317.07	−0.142%	$437K	$678K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1162%	1h	317.56	+0.014%	$5.9M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.52	+1.890%	$24K	$2K	12x	as long as short