Funding you earn now, next payment 02:00 UTC+0.0782%/8h= +85.6% APRnext payment +$0.98 per $10,000 · paid last 24h +0.048%
Price spread now: Backpack against ApeX Omni+0.517%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs+$3as in the Price arb table
costs, in and out, $10k−$480.478% of the position
Funding, last 7 days+0.028%+$3 on $10k
+Price spread, last 4 days (all we have)−2.029%−$203 · spread now +0.517%, 7d avg +0.010%
=Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Backpack is 0.507% dearer against ApeX Omni than usual: you sell high and buy low: +$51 more if the spread goes back to its 7-day average of +0.010%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.028% in total (about 1.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.98 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 | ApeX Omni TAOUSDT | 311.54 | 0.0100 | pay 0.0013% / 1h | 29m 34s | $47K | $256K | 50x |
| Short | Backpack TAO_USDC_PERP | 313.15 | 0.0882 | get 0.0110% / 1h | 29m 34s | $316K | $814K | 10x |
ApeX Omni TAOUSDT
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against ApeX Omni. 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
- $164.19
- Price spread: +0.517% → +0.010%
- $50.67
- Slippage, 4 orders
- −$27.76
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $167.1
- Costs to cover
- 0.478%
- Break-even
- from the start
Slippage from ApeX Omni: live order book, 37 min ago; Backpack: live order book, 39 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 ApeX Omni live order book, 37 min ago | 5.51 bp | 12.7 bp −$13 | 108.4 bp −$1,084 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 39 min ago | 0.16 bp | 13.4 bp −$13 | 26.0 bp −$260 | doesn't fit | doesn't fit |
TAO on 42 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 | 312.49 | +0.305% | $125K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 312.32 | +0.251% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 312.77 | +0.395% | $39K | $623K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 312.69 | +0.369% | $89.7M | $463.2M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 312.90 | +0.437% | $25.7M | $111.0M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 312.90 | +0.437% | $12.7M | $50.0M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 312.98 | +0.462% | $107.6M | $138.4M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.15 | +0.517% | $18.0M | $30.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 312.79 | +0.401% | $34.9M | $53.3M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 311.73 | +0.060% | $34K | $300K | 10x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDCShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 310.29 | −0.403% | $511K | $966K | 10x | as long as short |
| ApeX Omni TAOUSDTlong | +0.0100% | 1h | 311.54 | long leg | $47K | $256K | 50x | |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 312.53 | +0.318% | $57K | $282K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.50 | +0.308% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.47 | +0.299% | $128K | $471K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 312.90 | +0.437% | $3.4M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.48 | +0.303% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0122% | 8h | 313.01 | +0.472% | $1K | $696K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0158% | 1h | 312.89 | +0.433% | $82K | $678K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0169% | 1h | 313.10 | +0.499% | $5.6M | $20.4M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0169% / S +0.0090% | 1h | 312.34 | +0.256% | $437K | — | 100x | as long as short |
| Bullet TAO-USD | +0.0222% | 1h | 312.73 | +0.382% | $12K | $17K | 20x | as long as short |
| Aster TAOUSDT | +0.0222% | 4h | 312.75 | +0.389% | $1.3M | $9.4M | 50x | as long as short |
| Pacifica TAO | +0.0285% | 1h | 313.04 | +0.482% | $368K | $381K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0314% | 8h | 312.90 | +0.437% | $14K | $1K | 10x | as long as short |
| Arcus TAO-USD | +0.0337% | 1h | 313.31 | +0.568% | $98K | $529K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 312.28 | +0.238% | $23K | $2K | 12x | as long as short |
| Nado TAO-PERP | +0.0534% | 1h | 312.81 | +0.409% | $776K | $2.1M | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0553% | 1h | 313.11 | +0.502% | $24K | $1.5M | 25x | as long as short |
| Phoenix TAO | +0.0588% | 1h | 309.20 | −0.751% | $323K | $681K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0648% | 1h | 313.14 | +0.514% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 312.85 | +0.420% | $360 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0708% | 4h | 313.15 | +0.517% | — | $31.0M | — | as long as short |
| Variational Omni TAO | +0.0774% | 4h | 311.95 | +0.131% | $5.4M | $8.8M | — | as long as short |
| Bybit TAOUSDT | +0.0799% | 4h | 312.84 | +0.417% | $65.2M | $137.2M | 50x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0882% | 1h | 313.15 | +0.517% | $316K | $814K | 10x | |
| Extended TAO-USD | +0.0920% | 1h | 312.91 | +0.439% | $898K | $2.3M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 313.88 | +0.751% | $1.5M | $6.4M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 313.02 | +0.477% | $448K | $631K | 5x | as long as short |
| Hyperliquid TAO | +0.1210% | 1h | 313.29 | +0.562% | $99.0M | $94.6M | 5x | as long as short |
| Lighter TAO | +0.1416% | 1h | 313.32 | +0.572% | $1.6M | $6.0M | 5x | as long as short |
| Bulk TAO-USD | +0.4286% | 1h | 309.11 | −0.781% | $164K | $40K | 10x | as long as short |
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Polymarket Perps TAO-USD
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]
Bullet TAO-USD
Aster TAOUSDT
Pacifica TAO
Paradex TAO-USD-PERP
Arcus TAO-USD
Injective TAO/USDC PERP
Nado TAO-PERP
Deribit TAO_USDC-PERPETUAL
Phoenix TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
BingX TAO-USDT
Variational Omni TAO
Bybit TAOUSDT
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Lighter TAO
Bulk TAO-USD