Funding you earn now, next payment 02:00 UTC+0.0379%/8h= +41.5% APRpaid last 24h +0.001%
Price spread now: Phemex against Popdex+0.280%7-day average +0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$640.643% of the position
Funding, last 3 days (all we have)+0.005%+$1 on $10k
+Price spread, last 3 days (all we have)−0.238%−$24 · spread now +0.280%, 7d avg +0.011%
=Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phemex is 0.269% dearer against Popdex than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.011%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.005% in total (about 0.6% 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 | Popdex TAOUSDT | 307.68 | 0.0096 | pay 0.0012% / 1h | 38m 51s | $36K | $616K | 20x |
| Short | Phemex TAOUSDT | 308.54 | 0.0475 | get 0.0238% / 4h | 2h 38m | $3.3M | $8.0M | 50x |
Popdex TAOUSDT
Phemex TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Popdex. 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
- $79.6
- Price spread: +0.280% → +0.011%
- $26.86
- Slippage, 4 orders
- −$45.9
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $42.16
- Costs to cover
- 0.643%
- Break-even
- 3.3 days
Slippage from Popdex: live order book, 30 min ago; Phemex: live order book, 5 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 Popdex live order book, 30 min ago | 1.74 bp | 8.7 bp −$9 | 89.2 bp −$892 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 10.84 bp | 26.6 bp −$27 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 307.69 | +0.004% | $123K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 308.02 | +0.111% | $12K | — | 150x | as long as short |
| Popdex TAOUSDTlong | +0.0096% | 1h | 307.68 | long leg | $36K | $616K | 20x | |
| Binance TAOUSDT | +0.0100% | 4h | 308.25 | +0.185% | $88.5M | $460.9M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 308.20 | +0.169% | $25.2M | $108.7M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 307.90 | +0.072% | $12.5M | $49.7M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 308.22 | +0.176% | $103.7M | $137.8M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 308.53 | +0.276% | $17.9M | $30.0M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 308.08 | +0.130% | $34.3M | $53.2M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 309.15 | +0.476% | $34K | $298K | 10x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDCShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 308.37 | +0.223% | $508K | $965K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 309.11 | +0.465% | $46K | $268K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 308.35 | +0.218% | $56K | $283K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 308.62 | +0.306% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 307.88 | +0.065% | $126K | $471K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 308.20 | +0.168% | $169K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0115% | 8h | 307.58 | −0.033% | $689 | $680K | 5x | as long as short |
| Aster TAOUSDT | +0.0165% | 4h | 308.66 | +0.317% | $1.2M | $9.2M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0170% / S +0.0102% | 1h | 307.98 | +0.096% | $414K | — | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0171% | 1h | 308.64 | +0.313% | $5.5M | $20.4M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0203% | 1h | 308.22 | +0.176% | $77K | $644K | 5x | as long as short |
| Bullet TAO-USD | +0.0218% | 1h | 308.25 | +0.187% | $12K | $17K | 20x | as long as short |
| Paradex TAO-USD-PERP | +0.0274% | 8h | 308.01 | +0.106% | $14K | $1K | 10x | as long as short |
| Pacifica TAO | +0.0285% | 1h | 308.07 | +0.127% | $364K | $381K | 10x | as long as short |
| Arcus TAO-USD | +0.0337% | 1h | 308.10 | +0.137% | $81K | $547K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 311.16 | +1.131% | $4.4M | $10.7M | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0461% | 1h | 308.69 | +0.329% | $15K | $1.5M | 25x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 315.63 | +2.584% | $23K | $2K | 12x | as long as short |
| Phemex TAOUSDTshort | +0.0475% | 4h | 308.54 | +0.280% | $3.3M | $8.0M | 50x | |
| Nado TAO-PERP | +0.0586% | 1h | 308.32 | +0.209% | $750K | $2.1M | 10x | as long as short |
| Phoenix TAO | +0.0588% | 1h | 308.80 | +0.364% | $323K | $681K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0632% | 1h | 307.91 | +0.075% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 308.33 | +0.211% | $355 | — | 20x | as long as short |
| Variational Omni TAO | +0.0734% | 4h | 308.15 | +0.152% | $5.3M | $8.9M | — | as long as short |
| BingX TAO-USDT | +0.0736% | 4h | 308.52 | +0.273% | — | $31.0M | — | as long as short |
| Bybit TAOUSDT | +0.0741% | 4h | 308.48 | +0.260% | $62.9M | $136.1M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.0843% | 1h | 309.01 | +0.432% | $312K | $814K | 10x | as long as short |
| Extended TAO-USD | +0.0944% | 1h | 308.12 | +0.142% | $885K | $2.4M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 308.25 | +0.185% | $1.4M | $6.3M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 307.88 | +0.067% | $410K | $606K | 5x | as long as short |
| Hyperliquid TAO | +0.1228% | 1h | 308.54 | +0.280% | $97.2M | $93.4M | 5x | as long as short |
| Lighter TAO | +0.1352% | 1h | 308.50 | +0.267% | $1.6M | $6.0M | 5x | as long as short |
| Bulk TAO-USD | +0.3743% | 1h | 312.40 | +1.534% | $166K | $40K | 10x | as long as short |
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Katana Perps TAO-USD
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Kraken Futures PF_TAOUSD
Polymarket Perps TAO-USD
Bullet TAO-USD
Paradex TAO-USD-PERP
Pacifica TAO
Arcus TAO-USD
BloFin TAO-USDT
Deribit TAO_USDC-PERPETUAL
Injective TAO/USDC PERP
Nado TAO-PERP
Phoenix TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
Variational Omni TAO
BingX TAO-USDT
Bybit TAOUSDT
Backpack TAO_USDC_PERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Lighter TAO
Bulk TAO-USD