Funding you earn now, next payment 00:00 UTC−0.0451%/8h= −49.4% APRpaid last 24h −0.033%
Price spread now: Binance against Backpack−0.066%7-day average −0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$310.308% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.066%, 7d avg −0.043%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Binance is 0.023% cheaper against Backpack than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.043%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.083% in total (about -4.3% 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 | Backpack TAO_USDC_PERP | 314.37 | 0.0551 | pay 0.0069% / 1h | 32m 09s | $298K | $801K | 10x |
| Short | Binance TAOUSDT | 314.16 | 0.0100 | get 0.0050% / 4h | 32m 09s | $89.2M | $425.8M | 75x |
Backpack TAO_USDC_PERP
Binance TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$94.74
- Price spread: −0.066% → −0.043%
- −$2.33
- Slippage, 4 orders
- −$10.8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$127.87
- Costs to cover
- 0.308%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 47 min ago; Binance: live order book, 12 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, 47 min ago | 1.96 bp | 7.0 bp −$7 | 40.6 bp −$406 | doesn't fit | doesn't fit |
| Sell Binance live order book, 12 min ago | 0.16 bp | 6.6 bp −$7 | 16.7 bp −$167 | 42.3 bp −$4,234 | 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 | −0.4478% | 1h | 313.97 | −0.127% | $168K | $48K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 314.86 | +0.156% | $126K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 313.96 | −0.132% | $21K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 314.95 | +0.184% | $23K | $361 | 12x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0075% | 1h | 314.16 | −0.066% | $25K | $1.5M | 25x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 314.07 | −0.095% | $34K | $563K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 315.06 | +0.219% | $373K | $369K | 10x | as long as short |
| Binance TAOUSDTshort | +0.0100% | 4h | 314.16 | −0.066% | $89.2M | $425.8M | 75x | |
| Bybit TAOUSDT | +0.0100% | 4h | 314.54 | +0.054% | $61.8M | $124.7M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.30 | −0.022% | $25.3M | $101.7M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Injective TAO/USDC PERP
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDT
Pacifica TAO
Bybit TAOUSDT
OKX TAO-USDT-SWAPShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate TAO_USDT | +0.0100% | 4h | 313.90 | −0.150% | $12.8M | $49.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 314.23 | −0.045% | $110.5M | $129.4M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.31 | −0.019% | $18.9M | $27.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 314.05 | −0.102% | $35.0M | $46.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 314.37 | 0.000% | — | $30.2M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 314.20 | −0.053% | $41K | $280K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 313.97 | −0.129% | $521K | $956K | 10x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 314.21 | −0.051% | $11K | $17K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 314.20 | −0.054% | $60K | $275K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.10 | −0.086% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.87 | +0.159% | $127K | $400K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 314.19 | −0.057% | $3.4M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.30 | −0.021% | $173K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 314.22 | −0.048% | $1K | $546K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0133% | 1h | 314.26 | −0.035% | $77K | $489K | 5x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 314.59 | +0.070% | $83K | $606K | 5x | as long as short |
| Variational Omni TAO | +0.0194% | 4h | 314.76 | +0.124% | $4.0M | $7.0M | — | as long as short |
| Paradex TAO-USD-PERP | +0.0197% | 8h | 315.18 | +0.259% | $14K | $1K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0205% | 1h | 315.19 | +0.261% | $47K | $267K | 50x | as long as short |
| Aster TAOUSDT | +0.0215% | 4h | 314.19 | −0.057% | $1.1M | $7.8M | 50x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 315.81 | +0.458% | $4.4M | $10.4M | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0448% | 1h | 313.93 | −0.140% | $5.7M | $19.9M | 50x | as long as short |
| Nado TAO-PERP | +0.0454% | 1h | 314.15 | −0.071% | $831K | $2.0M | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0477% / S −0.0175% | 1h | 313.81 | −0.177% | $450K | — | 100x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 315.20 | +0.264% | $330K | $521K | 5x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0551% | 1h | 314.37 | long leg | $298K | $801K | 10x | |
| 01 Exchange TAOUSD | +0.0680% | 1h | 314.37 | 0.000% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 314.06 | −0.099% | $361 | — | 20x | as long as short |
| Extended TAO-USD | +0.0880% | 1h | 314.10 | −0.085% | $864K | $2.1M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 315.70 | +0.423% | $1.5M | $5.8M | 50x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 314.19 | −0.056% | $453K | $559K | 5x | as long as short |
| Lighter TAO | +0.1328% | 1h | 314.68 | +0.099% | $1.6M | $5.8M | 5x | as long as short |
| Hyperliquid TAO | +0.1812% | 1h | 314.70 | +0.105% | $98.2M | $83.6M | 5x | as long as short |
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Polymarket Perps TAO-USD
Arcus TAO-USD
Variational Omni TAO
Paradex TAO-USD-PERP
ApeX Omni TAOUSDT
Aster TAOUSDT
BloFin TAO-USDT
Kraken Futures PF_TAOUSD
Nado TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO