TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0019%/8h= +2.1% APRnext payment +$0.10 per $10,000 · paid last 24h +0.001%

Price spread now: Orderly against Phemex+0.019%7-day average 0.000% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.363%+$36 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.019%, 7d avg 0.000%

Together, before fees+0.337%+$34 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TAOUSDT	322.81	0.0100	pay 0.0050% / 4h	2h 04m	$3.3M	$8.1M	50x
Short	Orderly PERP_TAO_USDC	322.87	0.0119	get 0.0060% / 4h	2h 04m	$53K	$291K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.019%Rate

Funding earned: $4.03
Price spread: +0.019% → 0.000%: $1.88
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$12.08
Costs to cover: 0.180%
Break-even: 28.0 days

Slippage unknown: Phemex: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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	15.14 bp	23.0 bp −$23	49.2 bp −$492	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.176%	$169K	$333	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	322.61	−0.063%	$21K	—	150x	as long as short
dYdX TAO-USD	+0.0028%	1h	323.78	+0.299%	$129K	$85K	5x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	324.10	+0.400%	$27.0M	$128.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	323.80	+0.307%	$14.3M	$52.2M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	324.19	+0.427%	$17.8M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	324.04	+0.381%	$36.6M	$57.6M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	322.63	−0.056%	$83K	$965K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	322.65	−0.050%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	322.15	−0.204%	$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 TAOUSDTlong	+0.0100%	4h	322.81	long leg	$3.3M	$8.1M	50x
Katana Perps TAO-USD	+0.0110%	8h	323.85	+0.322%	$3K	$957K	5x	as long as short
Aevo TAO-PERP	+0.0112%	1h	322.90	+0.028%	$177K	$998	3x	as long as short
Orderly PERP_TAO_USDCshort	+0.0119%	4h	322.87	+0.019%	$53K	$291K	10x
Popdex TAOUSDT	+0.0120%	1h	323.28	+0.146%	$42K	$679K	20x	as long as short
edgeX TAOUSDC	+0.0123%	4h	321.43	−0.429%	$42K	$316K	10x	as long as short
MEXC TAO_USDT	+0.0124%	4h	324.21	+0.434%	$103.8M	$149.0M	300x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0125% / S +0.0142%	1h	322.67	−0.043%	$433K	—	100x	as long as short
Binance TAOUSDT	+0.0135%	4h	324.08	+0.395%	$93.7M	$517.2M	75x	as long as short
Pacifica TAO	+0.0233%	1h	324.18	+0.424%	$369K	$421K	10x	as long as short
Nado TAO-PERP	+0.0285%	1h	322.62	−0.060%	$814K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0292%	4h	324.10	+0.399%	$1.3M	$10.8M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0295%	1h	323.08	+0.085%	$6.1M	$21.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0300%	8h	324.04	+0.382%	$15K	$1K	10x	as long as short
Bullet TAO-USD	+0.0326%	1h	323.12	+0.096%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0375%	4h	322.90	+0.028%	$4.6M	$11.2M	100x	as long as short
BingX TAO-USDT	+0.0394%	4h	324.24	+0.443%	—	$34.0M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0448%	1h	322.85	+0.012%	$14K	$1.8M	25x	as long as short
Bybit TAOUSDT	+0.0462%	4h	324.42	+0.499%	$71.1M	$154.4M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0468%	4h	322.01	−0.246%	$549K	$948K	10x	as long as short
Arcus TAO-USD	+0.0483%	1h	324.01	+0.372%	$104K	$371K	5x	as long as short
Extended TAO-USD	+0.0504%	1h	324.24	+0.443%	$920K	$2.4M	25x	as long as short
Phoenix TAO	+0.0513%	1h	323.50	+0.214%	$322K	$713K	5x	as long as short
Variational Omni TAO	+0.0516%	4h	323.58	+0.238%	$5.7M	$10.1M	—	as long as short
ApeX Omni TAOUSDT	+0.0529%	1h	321.20	−0.499%	$47K	$257K	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	322.51	−0.093%	$371	—	20x	as long as short
01 Exchange TAOUSD	+0.0808%	1h	323.94	+0.350%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0816%	1h	323.23	+0.129%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAO	+0.0819%	1h	323.30	+0.152%	$95.3M	$109.5M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0852%	1h	323.10	+0.090%	$320K	$894K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	325.00	+0.678%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	323.25	+0.135%	$464K	$650K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	323.62	+0.251%	$24K	$2K	12x	as long as short