Funding you earn now, next payment 03:00 UTC−0.0581%/8h= −63.6% APRnext payment −$0.73 per $10,000 · paid last 24h −0.080%
Price spread now: dYdX against Phoenix+0.133%46s7-day average −0.177% · you sell dearer than you buy
Net, funding: paid 7d − costs−$149as 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−$1411.409% of the position
Funding, last 7 days−0.081%−$8 on $10k
+Price spread, last 4 days (all we have)−0.673%−$67 · spread now +0.133%, 7d avg −0.177%
=The price spread pays, funding is against you. dYdX is 0.310% dearer against Phoenix than usual: you sell high and buy low (spread +0.133% now, against its 7-day average of −0.177%): +$31 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 43 hours. At the pace of the last 7 days (−0.081% in total) that is about 27 days. The two prices were read 46 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 -0.081% in total (about -4.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.73 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 | Phoenix TAO | 316.10 | 0.0581 | pay 0.0073% / 1h | 39m 57s | $315K | $697K | 5x |
| Short | dYdX TAO-USD | 316.52 | 0 | get 0.0000% / 1h | 39m 57s | $126K | $85K | 5x |
Phoenix TAO
dYdX TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$122.01
- Price spread: +0.133% → −0.177%
- $31.02
- Slippage, 4 orders
- −$123.89
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$231.88
- Costs to cover
- 1.409%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 18 min ago; dYdX: live order book, 19 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, 18 min ago | 3.17 bp | 19.2 bp −$19 | 88.2 bp −$882 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 19 min ago | 46.16 bp | 51.2 bp −$51 | 66.6 bp −$666 | 146.3 bp −$14.6K | 883.6 bp −$441.8K |
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 | −0.0482% | 1h | 315.13 | −0.307% | $167K | $1K | 10x | as long as short |
| dYdX TAO-USDshort | 0.0000% | 1h | 316.52 | +0.133% | $126K | $85K | 5x | |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 316.86 | +0.240% | $21K | — | 150x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0056% | 1h | 316.76 | +0.210% | $5.6M | $20.6M | 50x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 317.59 | +0.471% | $42K | $685K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 316.58 | +0.151% | $91.2M | $490.8M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 316.50 | +0.127% | $26.0M | $120.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 316.50 | +0.127% | $13.0M | $49.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 316.99 | +0.282% | $106.4M | $142.7M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 316.46 | +0.114% | $17.6M | $31.6M | 75x | as long as short |
Bulk TAO-USD
gTrade (Gains Network) TAO/USD
Kraken Futures PF_TAOUSD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTMShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 316.65 | +0.174% | $35.4M | $55.9M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.41 | −0.218% | $35K | $302K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 316.07 | −0.009% | $46K | $252K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 317.37 | +0.402% | $90K | $790K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 317.30 | +0.380% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 316.92 | +0.259% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 317.05 | +0.301% | $110K | $527K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 316.66 | +0.177% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0101% | 8h | 317.25 | +0.364% | $1K | $787K | 5x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 317.07 | +0.308% | $174K | $998 | 3x | as long as short |
| GRVT TAO_USDT_Perp | +0.0106% | 4h | 316.10 | +0.001% | $526K | $944K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0126% | 4h | 316.96 | +0.272% | $57K | $275K | 10x | as long as short |
| Bybit TAOUSDT | +0.0128% | 4h | 316.69 | +0.187% | $68.9M | $146.7M | 50x | as long as short |
| BingX TAO-USDT | +0.0146% | 4h | 316.85 | +0.237% | — | $30.1M | — | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0151% / S +0.0122% | 1h | 316.99 | +0.282% | $422K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0162% | 1h | 317.42 | +0.418% | $809K | $2.2M | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0188% | 8h | 316.66 | +0.178% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0215% | 4h | 316.45 | +0.111% | $1.2M | $10.2M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0240% | 1h | 317.86 | +0.557% | $3K | $4K | 5x | as long as short |
| Hyperliquid TAO | +0.0282% | 1h | 316.64 | +0.171% | $94.0M | $105.5M | 5x | as long as short |
| Extended TAO-USD | +0.0296% | 1h | 317.00 | +0.285% | $927K | $2.4M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 316.00 | −0.032% | $4.5M | $10.9M | 100x | as long as short |
| Arcus TAO-USD | +0.0345% | 1h | 317.79 | +0.535% | $100K | $488K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0354% | 1h | 316.87 | +0.244% | $317K | $913K | 10x | as long as short |
| Pacifica TAO | +0.0365% | 1h | 316.93 | +0.261% | $363K | $409K | 10x | as long as short |
| Lighter TAO | +0.0400% | 1h | 316.83 | +0.231% | $1.5M | $6.5M | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0485% | 1h | 317.07 | +0.307% | $11K | $1.6M | 25x | as long as short |
| Phoenix TAOlong | +0.0581% | 1h | 316.10 | long leg | $315K | $697K | 5x | |
| Variational Omni TAO | +0.0615% | 4h | 315.95 | −0.049% | $5.8M | $9.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 317.32 | +0.387% | $365 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0991% | 1h | 317.61 | +0.477% | $440K | $659K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 318.13 | +0.642% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4222% | 1h | 319.61 | +1.110% | $23K | $2K | 12x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
Aevo TAO-PERP
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
Bybit TAOUSDT
BingX TAO-USDT
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
Paradex TAO-USD-PERP
Aster TAOUSDT
01 Exchange TAOUSD
Hyperliquid TAO
Extended TAO-USD
BloFin TAO-USDT
Arcus TAO-USD
Backpack TAO_USDC_PERP
Pacifica TAO
Lighter TAO
Deribit TAO_USDC-PERPETUAL
Variational Omni TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP