TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0097%/8h= −10.6% APRnext payment −$0.12 per $10,000 · paid last 24h −0.004%

Price spread now: Phoenix against 01 Exchange+0.315%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phoenix is 0.315% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.315% now, against zero (this spread has no 7-day history yet)): +$31 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange TAOUSD	320.69	0.0664	pay 0.0083% / 1h	49m 22s	$3K	$4K	5x
Short	Phoenix TAO	321.70	0.0567	get 0.0071% / 1h	49m 22s	$320K	$709K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against 01 Exchange. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee 01 ExchangebpFee PhoenixbpOrdersPrice spread, now +0.315%Rate

Funding earned: −$20.36
Price spread: +0.315% → 0.000%: $31.49
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$2.87
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; Phoenix: live order book, 58 min ago. Net counts fees only.

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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 58 min ago	3.18 bp	14.9 bp −$15	18.0 bp −$180	doesn't fit	doesn't fit

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.056%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	320.82	+0.041%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.02	−0.208%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.58	−0.034%	$40K	$694K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.40	−0.090%	$26.6M	$129.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.20	−0.153%	$14.2M	$51.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.24	−0.140%	$17.5M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.07	−0.193%	$36.0M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.78	+0.028%	$45K	$258K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	320.32	−0.115%	$76K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	321.99	+0.405%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	321.46	+0.240%	$118K	$585K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	321.73	+0.324%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.66	−0.009%	$728	$985K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.49	−0.062%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0122%	4h	320.39	−0.094%	$53K	$293K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0122% / S +0.0155%	1h	320.03	−0.206%	$433K	—	100x	as long as short
MEXC TAO_USDT	+0.0146%	4h	320.42	−0.084%	$105.2M	$149.4M	300x	as long as short
edgeX TAOUSDC	+0.0148%	4h	320.94	+0.078%	$42K	$316K	10x	as long as short
Binance TAOUSDT	+0.0153%	4h	320.38	−0.097%	$92.8M	$525.5M	75x	as long as short
Paradex TAO-USD-PERP	+0.0267%	8h	320.81	+0.038%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0307%	4h	320.49	−0.062%	$1.3M	$10.9M	50x	as long as short
BingX TAO-USDT	+0.0366%	4h	320.39	−0.094%	—	$34.4M	—	as long as short
Bullet TAO-USD	+0.0371%	1h	320.45	−0.075%	$12K	$17K	20x	as long as short
Bybit TAOUSDT	+0.0385%	4h	320.48	−0.065%	$70.0M	$155.6M	50x	as long as short
BloFin TAO-USDT	+0.0388%	4h	321.61	+0.287%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0424%	4h	322.11	+0.442%	$548K	$948K	10x	as long as short
Extended TAO-USD	+0.0488%	1h	320.64	−0.017%	$914K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	320.86	+0.054%	$365K	$423K	10x	as long as short
Variational Omni TAO	+0.0536%	4h	321.98	+0.401%	$5.6M	$10.2M	—	as long as short
Phoenix TAOshort	+0.0567%	1h	321.70	+0.315%	$320K	$709K	5x
Nado TAO-PERP	+0.0617%	1h	321.21	+0.163%	$803K	$2.2M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0633%	1h	321.92	+0.382%	$14K	$1.9M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0634%	1h	322.02	+0.415%	$320K	$899K	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.88	+0.059%	$103K	$394K	5x	as long as short
Hyperliquid TAO	+0.0660%	1h	320.60	−0.028%	$94.8M	$109.9M	5x	as long as short
01 Exchange TAOUSDlong	+0.0664%	1h	320.69	long leg	$3K	$4K	5x
Reya TAORUSDPERP	+0.0698%	1h	320.45	−0.076%	$369	—	20x	as long as short
Lighter TAO	+0.0920%	1h	321.05	+0.112%	$1.5M	$6.6M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.95	+0.705%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	320.68	−0.005%	$462K	$665K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1146%	1h	322.08	+0.433%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+2.357%	$24K	$2K	12x	as long as short