Funding you earn now, next payment 22:00 UTC−0.0461%/8h= −50.5% APRpaid last 24h −0.013%
Price spread now: BingX against Backpack−0.069%7-day average −0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$440.439% of the position
Funding, last 7 days+0.038%+$4 on $10k
+Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.069%, 7d avg −0.043%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and BingX is 0.026% cheaper against Backpack than usual: you would sell low and buy high (−$3 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 0.038% in total (about 2.0% 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 | 304.77 | 0.0561 | pay 0.0070% / 1h | 56m 52s | $435K | $674K | 10x |
| Short | BingX TAO-USDT | 304.56 | 0.0100 | get 0.0050% / 4h | 2h 56m | — | $30.5M | — |
Backpack TAO_USDC_PERP
BingX TAO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$96.75
- Price spread: −0.069% → −0.043%
- −$2.57
- Slippage, 4 orders
- −$23.85
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$143.18
- Costs to cover
- 0.439%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 32 min ago; BingX: 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, 32 min ago | 0.64 bp | 21.1 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 12 min ago | 1.14 bp | 7.6 bp −$8 | 12.4 bp −$124 | 28.5 bp −$2,848 | 75.1 bp −$37.5K |
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 | −0.7481% | 1h | 306.26 | +0.489% | $201K | $57K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 304.70 | −0.024% | $128K | $92K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.83 | +0.021% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 305.12 | +0.115% | $38K | $518K | 20x | as long as short |
| Aster TAOUSDT | +0.0100% | 4h | 304.28 | −0.161% | $1.2M | $7.4M | 50x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 304.82 | +0.016% | $356K | $405K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 304.65 | −0.039% | $85.4M | $400.0M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 304.77 | 0.000% | $58.3M | $117.3M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 304.70 | −0.023% | $25.0M | $91.2M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 305.13 | +0.118% | $137K | $591K | 5x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Aster TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate TAO_USDT | +0.0100% | 4h | 304.40 | −0.121% | $12.0M | $47.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 304.70 | −0.023% | $108.8M | $120.0M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 304.55 | −0.072% | $18.2M | $26.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 304.48 | −0.095% | $34.1M | $43.8M | 50x | as long as short |
| BingX TAO-USDTshort | +0.0100% | 4h | 304.56 | −0.069% | — | $30.5M | — | |
| Variational Omni TAO | +0.0100% | 4h | 308.35 | +1.175% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 306.98 | +0.724% | $40K | $275K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 306.09 | +0.432% | $535K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 306.65 | +0.617% | $47K | $267K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 305.24 | +0.154% | $85K | $656K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 305.01 | +0.079% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 304.71 | −0.020% | $58K | $277K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 304.93 | +0.052% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 304.92 | +0.049% | $121K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 304.60 | −0.056% | $3.2M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 304.96 | +0.062% | $167K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0115% | 8h | 304.90 | +0.043% | $2K | $412K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0149% | 1h | 304.82 | +0.015% | $16K | $1.3M | 25x | as long as short |
| Paradex TAO-USD-PERP | +0.0157% | 8h | 304.58 | −0.062% | $14K | $992 | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 304.94 | +0.056% | $4.3M | $9.3M | 100x | as long as short |
| Phoenix TAO | +0.0365% | 1h | 309.30 | +1.486% | $328K | $322K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0368% | 1h | 305.24 | +0.154% | $3K | $4K | 5x | as long as short |
| Nado TAO-PERP | +0.0433% | 1h | 305.22 | +0.147% | $915K | $1.6M | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0465% / S −0.0175% | 1h | 304.77 | 0.000% | $434K | — | 100x | as long as short |
| Extended TAO-USD | +0.0536% | 1h | 304.71 | −0.018% | $879K | $1.9M | 25x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0561% | 1h | 304.77 | long leg | $435K | $674K | 10x | |
| Hyperliquid TAO | +0.0569% | 1h | 304.96 | +0.062% | $89.2M | $71.9M | 5x | as long as short |
| Lighter TAO | +0.0608% | 1h | 305.14 | +0.121% | $1.7M | $4.7M | 5x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 305.03 | +0.084% | $351 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 305.83 | +0.348% | $1.5M | $5.5M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1034% | 1h | 305.01 | +0.080% | $6.2M | $19.9M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 305.05 | +0.091% | $401K | $533K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4876% | 1h | 311.91 | +2.343% | $23K | $135 | 12x | as long as short |
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
Paradex TAO-USD-PERP
BloFin TAO-USDT
Phoenix TAO
01 Exchange TAOUSD
Nado TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
Extended TAO-USD
Hyperliquid TAO
Lighter TAO
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Injective TAO/USDC PERP