Funding you earn now, next payment 00:00 UTC−0.0425%/8h= −46.6% APRpaid last 24h −0.084%
Price spread now: OKX against Phoenix−0.064%7-day average −0.159% · 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−$48as in the Price arb table
costs, in and out, $10k−$580.576% of the position
Funding, last 7 days−0.194%−$19 on $10k
+Price spread, last 3 days (all we have)−0.078%−$8 · spread now −0.064%, 7d avg −0.159%
=The price spread pays, funding is against you. OKX is 0.096% dearer against Phoenix than usual: you sell high and buy low (spread −0.064% now, against its 7-day average of −0.159%): +$10 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.194% in total) that is about 3.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.194% in total (about -10.1% 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 | 313.80 | 0.0525 | pay 0.0066% / 1h | 1m 27s | $328K | $624K | 5x |
| Short | OKX TAO-USDT-SWAP | 313.60 | 0.0100 | get 0.0100% / 8h | 7h 01m | $25.5M | $108.4M | 50x |
Phoenix TAO
OKX TAO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$89.35
- Price spread: −0.064% → −0.159%
- $9.56
- Slippage, 4 orders
- −$40.56
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$137.35
- Costs to cover
- 0.576%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 6 min ago; OKX: 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 Phoenix live order book, 6 min ago | 3.15 bp | 19.0 bp −$19 | 85.3 bp −$853 | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 1.59 bp | 10.6 bp −$11 | 22.7 bp −$227 | 67.4 bp −$6,741 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.1228% | 1h | 316.14 | +0.746% | $168K | $40K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 313.92 | +0.038% | $126K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 313.53 | −0.087% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 313.76 | −0.013% | $42K | $605K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.65 | −0.047% | $90.1M | $452.9M | 75x | as long as short |
| OKX TAO-USDT-SWAPshort | +0.0100% | 8h | 313.60 | −0.064% | $25.5M | $108.4M | 50x | |
| Gate TAO_USDT | +0.0100% | 4h | 313.60 | −0.064% | $12.7M | $51.4M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 313.69 | −0.035% | $100.6M | $137.8M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.90 | +0.032% | $18.2M | $29.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 313.74 | −0.019% | $34.9M | $51.8M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 315.16 | +0.433% | $40K | $294K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 316.35 | +0.813% | $524K | $958K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.60 | +0.255% | $48K | $267K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 313.55 | −0.080% | $56K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.88 | +0.025% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.03 | +0.073% | $125K | $422K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.55 | +0.237% | $173K | $998 | 3x | as long as short |
| Bullet TAO-USD | +0.0112% | 1h | 313.83 | +0.010% | $12K | $17K | 20x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0113% | 1h | 314.05 | +0.079% | $16K | $1.5M | 25x | as long as short |
| Katana Perps TAO-USD | +0.0119% | 8h | 313.76 | −0.013% | $1K | $648K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0172% / S +0.0105% | 1h | 313.46 | −0.108% | $442K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 314.21 | +0.131% | $372K | $376K | 10x | as long as short |
| Aster TAOUSDT | +0.0191% | 4h | 313.75 | −0.016% | $1.3M | $9.0M | 50x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 314.17 | +0.118% | $83K | $550K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0239% | 8h | 314.07 | +0.087% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0259% | 1h | 313.93 | +0.041% | $92K | $633K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 314.26 | +0.147% | $4.4M | $10.7M | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0488% | 1h | 314.08 | +0.088% | $5.7M | $20.3M | 50x | as long as short |
| Phoenix TAOlong | +0.0525% | 1h | 313.80 | long leg | $328K | $624K | 5x | |
| 01 Exchange TAOUSD | +0.0560% | 1h | 313.96 | +0.051% | $3K | $4K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 320.46 | +2.122% | $23K | $2K | 12x | as long as short |
| Variational Omni TAO | +0.0571% | 4h | 316.78 | +0.949% | $5.5M | $8.7M | — | as long as short |
| Phemex TAOUSDT | +0.0593% | 4h | 314.20 | +0.127% | $3.4M | $7.8M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 313.94 | +0.043% | $361 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0704% | 4h | 313.83 | +0.010% | — | $30.7M | — | as long as short |
| Nado TAO-PERP | +0.0749% | 1h | 313.98 | +0.058% | $778K | $2.1M | 10x | as long as short |
| Bybit TAOUSDT | +0.0772% | 4h | 313.81 | +0.003% | $64.0M | $134.5M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.0797% | 1h | 313.64 | −0.051% | $317K | $818K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 314.86 | +0.338% | $1.5M | $6.4M | 50x | as long as short |
| Extended TAO-USD | +0.1088% | 1h | 313.85 | +0.015% | $874K | $2.3M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 313.82 | +0.006% | $416K | $602K | 5x | as long as short |
| Lighter TAO | +0.1432% | 1h | 314.45 | +0.207% | $1.6M | $6.1M | 5x | as long as short |
| Hyperliquid TAO | +0.1719% | 1h | 314.11 | +0.099% | $100.5M | $91.8M | 5x | as long as short |
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Bullet TAO-USD
Deribit TAO_USDC-PERPETUAL
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Aster TAOUSDT
Arcus TAO-USD
Paradex TAO-USD-PERP
Polymarket Perps TAO-USD
BloFin TAO-USDT
Kraken Futures PF_TAOUSD
01 Exchange TAOUSD
Injective TAO/USDC PERP
Variational Omni TAO
Phemex TAOUSDT
Reya TAORUSDPERP
BingX TAO-USDT
Nado TAO-PERP
Bybit TAOUSDT
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO