Funding you earn now, next payment 23:00 UTC+0.0301%/8h= +32.9% APRnext payment +$0.38 per $10,000 · paid last 24h +0.018%
Price spread now: Backpack against Aevo−0.044%7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$150as in the Funding arb table
Net, price: spread back to 7d avg − costs−$154as in the Price arb table
costs, in and out, $10k−$1481.482% of the position
Funding, last 7 days−0.013%−$1 on $10k
+Price spread, last 3 days (all we have)+0.060%+$6 · spread now −0.044%, 7d avg +0.015%
=Funding pays, the price is against you. Backpack is 0.059% cheaper against Aevo than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of +0.015%). If the spread goes back, that is −$6 on $10k: about 16 hours of funding at the current rate (+$9 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.013% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.38 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 | Aevo TAO-PERP | 306.72 | 0.0104 | pay 0.0013% / 1h | 54m 03s | $168K | $998 | 3x |
| Short | Backpack TAO_USDC_PERP | 306.58 | 0.0405 | get 0.0051% / 1h | 54m 03s | $379K | $756K | 10x |
Aevo TAO-PERP
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Aevo. 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
- $63.15
- Price spread: −0.044% → +0.015%
- −$5.91
- Slippage, 4 orders
- −$122.2
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$90.96
- Costs to cover
- 1.482%
- Break-even
- 17.1 days
Slippage from Aevo: live order book, 30 min ago; Backpack: live order book, 30 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 Aevo live order book, 30 min ago | 41.20 bp | 60.8 bp −$61 | 333.3 bp −$3,333 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 30 min ago | 0.16 bp | 8.2 bp −$8 | 13.5 bp −$135 | 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 | −0.0306% | 1h | 307.82 | +0.360% | $202K | $57K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 306.65 | −0.021% | $126K | $87K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0007% | 1h | 306.48 | −0.077% | $26K | — | 150x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0077% | 1h | 306.63 | −0.027% | $15K | $1.3M | 25x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 306.37 | −0.112% | $42K | $532K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 306.34 | −0.121% | $86.1M | $407.8M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 306.50 | −0.070% | $59.6M | $120.0M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 306.40 | −0.103% | $24.7M | $94.7M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 306.96 | +0.080% | $137K | $584K | 5x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 306.40 | −0.103% | $12.2M | $48.0M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDT
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 306.45 | −0.086% | $120.8M | $123.3M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 306.37 | −0.112% | $18.8M | $26.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 306.35 | −0.119% | $34.4M | $45.6M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 306.49 | −0.073% | — | $30.4M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 308.27 | +0.507% | $3.7M | $6.6M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 307.32 | +0.199% | $40K | $276K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 308.04 | +0.431% | $548K | $937K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 306.64 | −0.024% | $78K | $630K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 306.58 | −0.044% | $11K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 306.54 | −0.057% | $59K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 306.38 | −0.109% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 306.62 | −0.031% | $121K | $354K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 306.39 | −0.106% | $3.2M | $7.9M | 50x | as long as short |
| Aevo TAO-PERPlong | +0.0104% | 1h | 306.72 | long leg | $168K | $998 | 3x | |
| Katana Perps TAO-USD | +0.0113% | 8h | 306.61 | −0.034% | $627 | $480K | 5x | as long as short |
| Aster TAOUSDT | +0.0144% | 4h | 306.37 | −0.112% | $1.1M | $7.6M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0160% | 8h | 306.57 | −0.046% | $14K | $1K | 10x | as long as short |
| Pacifica TAO | +0.0164% | 1h | 306.72 | +0.002% | $363K | $369K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 306.39 | −0.106% | $437K | — | 100x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 308.50 | +0.582% | $327K | $491K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 306.92 | +0.067% | $4.3M | $9.4M | 100x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0405% | 1h | 306.58 | −0.044% | $379K | $756K | 10x | |
| ApeX Omni TAOUSDT | +0.0428% | 1h | 308.15 | +0.468% | $46K | $268K | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0512% | 1h | 306.59 | −0.041% | $3K | $4K | 5x | as long as short |
| Nado TAO-PERP | +0.0560% | 1h | 306.28 | −0.143% | $844K | $1.9M | 10x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 306.55 | −0.052% | $353 | — | 20x | as long as short |
| Lighter TAO | +0.0720% | 1h | 306.79 | +0.024% | $1.7M | $4.9M | 5x | as long as short |
| Extended TAO-USD | +0.0840% | 1h | 306.46 | −0.084% | $894K | $2.0M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 307.40 | +0.223% | $1.5M | $5.6M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1030% | 1h | 306.67 | −0.014% | $6.3M | $19.0M | 50x | as long as short |
| RISEx TAO/USDC | +0.1155% | 1h | 306.73 | +0.003% | $413K | $545K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.1621% | 1h | 308.73 | +0.657% | $22K | $264 | 12x | as long as short |
| Hyperliquid TAO | +0.1725% | 1h | 306.95 | +0.077% | $95.4M | $77.9M | 5x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Polymarket Perps TAO-USD
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Pacifica TAO
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
BloFin TAO-USDT
ApeX Omni TAOUSDT
01 Exchange TAOUSD
Nado TAO-PERP
Reya TAORUSDPERP
Lighter TAO
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Injective TAO/USDC PERP
Hyperliquid TAO