Funding you earn now, next payment 03:00 UTC−0.0481%/8h= −52.7% APRpaid last 24h −0.090%
Price spread now: Binance against Phoenix−0.034%7-day average −0.134% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$540.538% of the position
Funding, last 7 days−0.232%−$23 on $10k
+Price spread, last 4 days (all we have)−0.473%−$47 · spread now −0.034%, 7d avg −0.134%
=The price spread pays, funding is against you. Binance is 0.099% dearer against Phoenix than usual: you sell high and buy low (spread −0.034% now, against its 7-day average of −0.134%): +$10 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.232% in total) that is about 3.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.232% in total (about -12.1% 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 | Phoenix TAO | 315.40 | 0.0581 | pay 0.0073% / 1h | 17m 14s | $314K | $697K | 5x |
| Short | Binance TAOUSDT | 315.29 | 0.0100 | get 0.0050% / 4h | 17m 14s | $91.1M | $494.7M | 75x |
Phoenix TAO
Binance TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- −$101.01
- Price spread: −0.034% → −0.134%
- $9.94
- Slippage, 4 orders
- −$36.78
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$144.85
- Costs to cover
- 0.538%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 41 min ago; Binance: live order book, 12 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 Phoenix live order book, 41 min ago | 3.17 bp | 19.2 bp −$19 | 88.2 bp −$882 | doesn't fit | doesn't fit |
| Sell Binance live order book, 12 min ago | 0.16 bp | 7.4 bp −$7 | 14.9 bp −$149 | 30.3 bp −$3,030 | 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 | 315.14 | −0.081% | $126K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 315.02 | −0.120% | $20K | — | 150x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0056% | 1h | 315.16 | −0.076% | $5.5M | $20.7M | 50x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 315.15 | −0.079% | $43K | $668K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0098% | 8h | 314.97 | −0.136% | $645 | $799K | 5x | as long as short |
| Binance TAOUSDTshort | +0.0100% | 4h | 315.29 | −0.034% | $91.1M | $494.7M | 75x | |
| Bybit TAOUSDT | +0.0100% | 4h | 315.52 | +0.038% | $68.0M | $148.7M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.40 | 0.000% | $26.0M | $120.7M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 315.10 | −0.095% | $13.0M | $50.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 315.29 | −0.035% | $110.6M | $144.1M | 300x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Kraken Futures PF_TAOUSD
Popdex TAOUSDT
Katana Perps TAO-USD
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
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 | 315.09 | −0.098% | $17.7M | $31.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 315.23 | −0.054% | $35.2M | $56.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 315.42 | +0.006% | — | $32.8M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.17 | −0.074% | $42K | $312K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 315.17 | −0.072% | $521K | $955K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 315.00 | −0.127% | $46K | $255K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 314.92 | −0.152% | $77K | $859K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 315.24 | −0.051% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.95 | −0.143% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.82 | −0.184% | $110K | $535K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 315.07 | −0.105% | $3.2M | $8.1M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 315.30 | −0.033% | $173K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0132% | 4h | 315.16 | −0.076% | $57K | $265K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0146% / S +0.0127% | 1h | 314.99 | −0.131% | $419K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0159% | 8h | 315.13 | −0.086% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0187% | 4h | 315.12 | −0.089% | $1.2M | $10.4M | 50x | as long as short |
| Extended TAO-USD | +0.0200% | 1h | 315.19 | −0.065% | $922K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0204% | 1h | 315.03 | −0.116% | $801K | $2.2M | 10x | as long as short |
| Hyperliquid TAO | +0.0268% | 1h | 315.64 | +0.076% | $92.8M | $106.4M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0320% | 1h | 315.30 | −0.032% | $3K | $4K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0330% | 1h | 315.25 | −0.049% | $26K | $1.7M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 315.30 | −0.032% | $4.6M | $10.9M | 100x | as long as short |
| Lighter TAO | +0.0344% | 1h | 315.50 | +0.030% | $1.5M | $6.5M | 5x | as long as short |
| Arcus TAO-USD | +0.0345% | 1h | 315.52 | +0.038% | $99K | $438K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0346% | 1h | 315.51 | +0.035% | $316K | $913K | 10x | as long as short |
| Pacifica TAO | +0.0365% | 1h | 315.26 | −0.044% | $360K | $412K | 10x | as long as short |
| Variational Omni TAO | +0.0497% | 4h | 315.29 | −0.036% | $5.7M | $9.9M | — | as long as short |
| Phoenix TAOlong | +0.0581% | 1h | 315.40 | long leg | $314K | $697K | 5x | |
| Reya TAORUSDPERP | +0.0697% | 1h | 315.03 | −0.117% | $362 | — | 20x | as long as short |
| Bulk TAO-USD | +0.0933% | 1h | 314.34 | −0.336% | $167K | $2K | 10x | as long as short |
| RISEx TAO/USDC | +0.0991% | 1h | 315.24 | −0.051% | $435K | $651K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 316.12 | +0.228% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4222% | 1h | 318.85 | +1.094% | $23K | $2K | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Aster TAOUSDT
Extended TAO-USD
Nado TAO-PERP
Hyperliquid TAO
01 Exchange TAOUSD
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
Lighter TAO
Arcus TAO-USD
Backpack TAO_USDC_PERP
Pacifica TAO
Variational Omni TAO
Reya TAORUSDPERP
Bulk TAO-USD
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP