Funding you earn now, next payment 04:00 UTC−0.0357%/8h= −39.0% APRpaid last 24h −0.092%
Price spread now: HTX against Phoenix−0.051%7-day average −0.224% · you buy dearer than you sell
Net, funding: paid 7d − costs−$259as in the Funding arb table
Net, price: spread back to 7d avg − costs−$218as in the Price arb table
costs, in and out, $10k−$2352.351% of the position
Funding, last 7 days−0.236%−$24 on $10k
+Price spread, last 4 days (all we have)−0.102%−$10 · spread now −0.051%, 7d avg −0.224%
=The price spread pays, funding is against you. HTX is 0.172% dearer against Phoenix than usual: you sell high and buy low (spread −0.051% now, against its 7-day average of −0.224%): +$17 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 7 days (−0.236% in total) that is about 5.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.236% in total (about -12.3% 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 | 311.70 | 0.0457 | pay 0.0057% / 1h | 7m 17s | $310K | $711K | 5x |
| Short | HTX TAO-USDT | 311.54 | 0.0100 | get 0.0050% / 4h | 3h 07m | $110K | $542K | 20x |
Phoenix TAO
HTX TAO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$74.88
- Price spread: −0.051% → −0.224%
- $17.24
- Slippage, 4 orders
- −$216.12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$292.75
- Costs to cover
- 2.351%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 46 min ago; HTX: live order book, 46 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, 46 min ago | 3.18 bp | 9.6 bp −$10 | 19.6 bp −$196 | doesn't fit | doesn't fit |
| Sell HTX live order book, 46 min ago | 14.04 bp | 94.9 bp −$95 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_TAOUSD | −0.0348% | 1h | 311.98 | +0.089% | $5.5M | $20.7M | 50x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 311.29 | −0.131% | $20K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0009% | 1h | 311.92 | +0.071% | $124K | $85K | 5x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 312.01 | +0.099% | $48K | $662K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0100% | 8h | 311.50 | −0.064% | $2K | $857K | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 312.20 | +0.159% | $355K | $416K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 312.01 | +0.100% | $89.1M | $502.5M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 311.90 | +0.064% | $26.0M | $120.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 311.30 | −0.128% | $13.3M | $50.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 311.53 | −0.055% | $103.1M | $145.8M | 300x | as long as short |
Kraken Futures PF_TAOUSD
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
Popdex TAOUSDT
Katana Perps TAO-USD
Pacifica TAO
Binance 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 | 311.54 | −0.051% | $17.4M | $31.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 311.59 | −0.035% | $35.0M | $56.6M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 311.50 | −0.065% | $41K | $313K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 311.94 | +0.076% | $530K | $942K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 311.33 | −0.119% | $46K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 311.63 | −0.022% | $81K | $905K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 311.52 | −0.058% | $12K | $17K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 311.67 | −0.010% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDTshort | +0.0100% | 4h | 311.54 | −0.051% | $110K | $542K | 20x | |
| Phemex TAOUSDT | +0.0100% | 4h | 311.72 | +0.006% | $3.1M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 311.79 | +0.030% | $171K | $998 | 3x | as long as short |
| Aster TAOUSDT | +0.0105% | 4h | 311.95 | +0.082% | $1.3M | $10.5M | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0113% | 4h | 311.69 | −0.003% | $51K | $290K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0135% / S +0.0137% | 1h | 311.17 | −0.170% | $414K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0167% | 8h | 312.01 | +0.099% | $14K | $1K | 10x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 312.34 | +0.205% | $101K | $369K | 5x | as long as short |
| BingX TAO-USDT | +0.0256% | 4h | 311.42 | −0.090% | — | $33.8M | — | as long as short |
| Bybit TAOUSDT | +0.0272% | 4h | 312.02 | +0.103% | $67.4M | $150.9M | 50x | as long as short |
| Extended TAO-USD | +0.0304% | 1h | 311.88 | +0.058% | $909K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0314% | 1h | 311.62 | −0.026% | $786K | $2.2M | 10x | as long as short |
| Variational Omni TAO | +0.0325% | 4h | 312.94 | +0.397% | $5.5M | $10.1M | — | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 312.18 | +0.154% | $4.5M | $10.8M | 100x | as long as short |
| Phoenix TAOlong | +0.0457% | 1h | 311.70 | long leg | $310K | $711K | 5x | |
| Hyperliquid TAO | +0.0462% | 1h | 311.72 | +0.006% | $91.5M | $108.0M | 5x | as long as short |
| Bulk TAO-USD | +0.0468% | 1h | 310.75 | −0.305% | $165K | $333 | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0479% | 1h | 312.04 | +0.109% | $310K | $885K | 10x | as long as short |
| 01 Exchange TAOUSD | +0.0488% | 1h | 312.31 | +0.196% | $3K | $4K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0493% | 1h | 311.84 | +0.046% | $12K | $1.8M | 25x | as long as short |
| Lighter TAO | +0.0608% | 1h | 312.32 | +0.199% | $1.5M | $6.6M | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 311.54 | −0.051% | $358 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 312.10 | +0.130% | $442K | $648K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 312.08 | +0.122% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 316.67 | +1.594% | $23K | $2K | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Aster TAOUSDT
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Arcus TAO-USD
BingX TAO-USDT
Bybit TAOUSDT
Extended TAO-USD
Nado TAO-PERP
Variational Omni TAO
BloFin TAO-USDT
Hyperliquid TAO
Bulk TAO-USD
Backpack TAO_USDC_PERP
01 Exchange TAOUSD
Deribit TAO_USDC-PERPETUAL
Lighter TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP