Funding you earn now, next payment 06:00 UTC+0.0467%/8h= +51.1% APRnext payment +$0.58 per $10,000 · paid last 24h +0.092%
Price spread now: Phoenix against Polymarket Perps+0.431%7-day average +0.134% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$420.423% of the position
Funding, last 7 days+0.304%+$30 on $10k
+Price spread, last 4 days (all we have)−0.385%−$38 · spread now +0.431%, 7d avg +0.134%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Phoenix is 0.297% dearer against Polymarket Perps than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.134%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.304% in total (about 15.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.58 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 | Polymarket Perps TAO-USD | 320.32 | 0.0100 | pay 0.0013% / 1h | 48m 36s | $76K | $1.1M | 5x |
| Short | Phoenix TAO | 321.70 | 0.0567 | get 0.0071% / 1h | 48m 36s | $320K | $709K | 5x |
Polymarket Perps TAO-USD
Phoenix TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. 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
- $98.08
- Price spread: +0.431% → +0.134%
- $29.73
- Slippage, 4 orders
- −$27.34
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $85.47
- Costs to cover
- 0.423%
- Break-even
- 0.9 days
Slippage from Polymarket Perps: live order book, 4 min ago; Phoenix: live order book, 59 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 Polymarket Perps live order book, 4 min ago | 1.56 bp | 5.6 bp −$6 | 7.0 bp −$70 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 59 min ago | 3.18 bp | 14.9 bp −$15 | 18.0 bp −$180 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.2101% | 1h | 320.87 | +0.172% | $170K | $333 | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 320.04 | −0.087% | $128K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 320.02 | −0.092% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 320.58 | +0.081% | $40K | $694K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 320.30 | −0.006% | $26.6M | $129.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 320.20 | −0.037% | $14.2M | $51.4M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 320.40 | +0.025% | $17.5M | $31.9M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 320.09 | −0.072% | $36.0M | $58.0M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 320.78 | +0.144% | $45K | $258K | 50x | as long as short |
| Polymarket Perps TAO-USDlong | +0.0100% | 1h | 320.32 | long leg | $76K | $1.1M | 5x |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
ApeX Omni TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TAO-USDT | +0.0100% | 4h | 320.06 | −0.081% | $2K | $2.0M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.91 | −0.128% | $117K | $585K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 320.33 | +0.003% | $3.3M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0109% | 8h | 320.32 | 0.000% | $2K | $992K | 5x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 320.49 | +0.053% | $176K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0122% | 4h | 320.39 | +0.022% | $53K | $293K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0122% / S +0.0155% | 1h | 320.03 | −0.091% | $433K | — | 100x | as long as short |
| edgeX TAOUSDC | +0.0148% | 4h | 320.94 | +0.194% | $42K | $316K | 10x | as long as short |
| MEXC TAO_USDT | +0.0152% | 4h | 320.51 | +0.059% | $105.1M | $149.4M | 300x | as long as short |
| Binance TAOUSDT | +0.0153% | 4h | 320.52 | +0.061% | $92.9M | $525.7M | 75x | as long as short |
| Paradex TAO-USD-PERP | +0.0264% | 8h | 320.51 | +0.060% | $15K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0309% | 4h | 320.64 | +0.100% | $1.3M | $10.9M | 50x | as long as short |
| BingX TAO-USDT | +0.0366% | 4h | 320.33 | +0.003% | — | $34.3M | — | as long as short |
| Bullet TAO-USD | +0.0371% | 1h | 320.45 | +0.040% | $12K | $17K | 20x | as long as short |
| Bybit TAOUSDT | +0.0385% | 4h | 320.50 | +0.056% | $70.0M | $155.6M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0391% | 1h | 320.31 | −0.004% | $14K | $1.9M | 25x | as long as short |
| BloFin TAO-USDT | +0.0393% | 4h | 320.43 | +0.034% | $4.7M | $11.1M | 100x | as long as short |
| GRVT TAO_USDT_Perp | +0.0424% | 4h | 322.11 | +0.558% | $548K | $948K | 10x | as long as short |
| Extended TAO-USD | +0.0488% | 1h | 320.20 | −0.037% | $914K | $2.4M | 25x | as long as short |
| Pacifica TAO | +0.0525% | 1h | 320.60 | +0.087% | $365K | $423K | 10x | as long as short |
| Variational Omni TAO | +0.0536% | 4h | 321.98 | +0.517% | $5.6M | $10.2M | — | as long as short |
| Phoenix TAOshort | +0.0567% | 1h | 321.70 | +0.431% | $320K | $709K | 5x | |
| Backpack TAO_USDC_PERP | +0.0613% | 1h | 320.56 | +0.075% | $318K | $899K | 10x | as long as short |
| Nado TAO-PERP | +0.0617% | 1h | 321.21 | +0.279% | $803K | $2.2M | 10x | as long as short |
| Arcus TAO-USD | +0.0641% | 1h | 320.73 | +0.128% | $103K | $394K | 5x | as long as short |
| Hyperliquid TAO | +0.0663% | 1h | 320.68 | +0.112% | $94.8M | $109.9M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0664% | 1h | 320.69 | +0.116% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0698% | 1h | 320.45 | +0.039% | $369 | — | 20x | as long as short |
| Lighter TAO | +0.0920% | 1h | 320.79 | +0.146% | $1.5M | $6.6M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 322.95 | +0.821% | $1.5M | $6.9M | 50x | as long as short |
| RISEx TAO/USDC | +0.1077% | 1h | 320.34 | +0.005% | $461K | $665K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1152% | 1h | 320.47 | +0.047% | $6.1M | $21.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4723% | 1h | 328.25 | +2.476% | $24K | $2K | 12x | as long as short |
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
Aevo TAO-PERP
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
edgeX TAOUSDC
MEXC TAO_USDT
Binance TAOUSDT
Paradex TAO-USD-PERP
Aster TAOUSDT
BingX TAO-USDT
Bullet TAO-USD
Bybit TAOUSDT
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
GRVT TAO_USDT_Perp
Extended TAO-USD
Pacifica TAO
Variational Omni TAO
Backpack TAO_USDC_PERP
Nado TAO-PERP
Arcus TAO-USD
Hyperliquid TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
Lighter TAO
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP