Funding you earn now, next payment 22:00 UTC−0.1131%/8h= −123.8% APRnext payment −$1.41 per $10,000 · paid last 24h −0.019%
Price spread now: Arcus against Backpack−0.219%7-day average +0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$600.601% of the position
Funding, last 3 days (all we have)−0.036%−$4 on $10k
+Price spread, last 4 days (all we have)+0.286%+$29 · spread now −0.219%, 7d avg +0.034%
=Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and Arcus is 0.254% cheaper against Backpack than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.034%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.036% in total (about -3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.41 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 | Backpack TAO_USDC_PERP | 305.58 | 0.1231 | pay 0.0154% / 1h | 38m 50s | $467K | $683K | 10x |
| Short | Arcus TAO-USD | 304.91 | 0.0100 | get 0.0013% / 1h | 38m 50s | $136K | $593K | 5x |
Backpack TAO_USDC_PERP
Arcus TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Backpack. 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
- −$237.5
- Price spread: −0.219% → +0.034%
- −$25.37
- Slippage, 4 orders
- −$45.64
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$323.02
- Costs to cover
- 0.601%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 50 min ago; Arcus: live order book, 50 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 Backpack live order book, 50 min ago | 0.64 bp | 21.1 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
| Sell Arcus live order book, 50 min ago | 10.10 bp | 14.5 bp −$15 | 24.9 bp −$249 | 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 | 305.37 | −0.069% | $128K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.77 | −0.265% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 304.45 | −0.370% | $41K | $525K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 305.76 | +0.060% | $361K | $400K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 305.65 | +0.024% | $85.7M | $401.6M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 305.72 | +0.046% | $58.9M | $117.7M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 305.50 | −0.026% | $25.0M | $92.1M | 50x | as long as short |
| Arcus TAO-USDshort | +0.0100% | 1h | 304.91 | −0.219% | $136K | $593K | 5x | |
| Gate TAO_USDT | +0.0100% | 4h | 305.30 | −0.092% | $12.0M | $47.7M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 305.67 | +0.029% | $112.4M | $122.3M | 300x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 305.44 | −0.046% | $18.4M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 305.54 | −0.013% | $34.3M | $44.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 305.67 | +0.029% | — | $30.5M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 306.23 | +0.213% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 305.88 | +0.099% | $40K | $276K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.96 | +0.123% | $536K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 305.81 | +0.075% | $46K | $267K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 304.99 | −0.192% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 304.99 | −0.193% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 305.02 | −0.183% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 304.96 | −0.203% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 304.99 | −0.193% | $3.2M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 305.06 | −0.171% | $168K | $998 | 3x | as long as short |
| Polymarket Perps TAO-USD | +0.0105% | 1h | 305.00 | −0.190% | $85K | $669K | 5x | as long as short |
| Katana Perps TAO-USD | +0.0113% | 8h | 304.55 | −0.337% | $2K | $424K | 5x | as long as short |
| Aster TAOUSDT | +0.0117% | 4h | 305.49 | −0.029% | $1.1M | $7.5M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0124% | 1h | 305.16 | −0.138% | $13K | $1.3M | 25x | as long as short |
| Paradex TAO-USD-PERP | +0.0165% | 8h | 304.52 | −0.346% | $14K | $992 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 304.77 | −0.265% | $435K | — | 100x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 305.80 | +0.072% | $324K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0237% | 1h | 304.84 | −0.243% | $843K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 305.23 | −0.115% | $4.2M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0488% | 1h | 304.83 | −0.245% | $3K | $4K | 5x | as long as short |
| Extended TAO-USD | +0.0656% | 1h | 305.51 | −0.021% | $873K | $1.9M | 25x | as long as short |
| Bulk TAO-USD | +0.0668% | 1h | 304.81 | −0.252% | $200K | $57K | 10x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 305.02 | −0.183% | $351 | — | 20x | as long as short |
| Lighter TAO | +0.0824% | 1h | 306.01 | +0.142% | $1.6M | $4.8M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 306.88 | +0.425% | $1.5M | $5.3M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1033% | 1h | 305.24 | −0.113% | $6.2M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 304.66 | −0.301% | $406K | $533K | 5x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.1231% | 1h | 305.58 | long leg | $467K | $683K | 10x | |
| Hyperliquid TAO | +0.1605% | 1h | 306.33 | +0.244% | $92.9M | $75.3M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4876% | 1h | 307.78 | +0.720% | $22K | $136 | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Polymarket Perps TAO-USD
Katana Perps TAO-USD
Aster TAOUSDT
Deribit TAO_USDC-PERPETUAL
Paradex TAO-USD-PERP
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Extended TAO-USD
Bulk TAO-USD
Reya TAORUSDPERP
Lighter TAO
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP