Funding you earn now, next payment 07:00 UTC−0.0577%/8h= −63.2% APRpaid last 24h −0.087%
Price spread now: Bitget against Backpack−0.126%7-day average −0.087% · you buy dearer than you sell
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$390.388% of the position
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 4 days (all we have)+0.078%+$8 · spread now −0.126%, 7d avg −0.087%
=Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Bitget is 0.039% cheaper against Backpack than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.087%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.2% 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 | 318.70 | 0.0677 | pay 0.0085% / 1h | 8m 01s | $297K | $905K | 10x |
| Short | Bitget TAOUSDT | 318.30 | 0.0100 | get 0.0050% / 4h | 1h 08m | $35.8M | $58.0M | 50x |
Backpack TAO_USDC_PERP
Bitget TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$121.21
- Price spread: −0.126% → −0.087%
- −$3.9
- Slippage, 4 orders
- −$16.84
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$163.94
- Costs to cover
- 0.388%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 36 min ago; Bitget: live order book, 1 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, 36 min ago | 1.87 bp | 7.3 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 1 min ago | 1.41 bp | 13.2 bp −$13 | 21.0 bp −$210 | 32.6 bp −$3,257 | 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 | −0.0237% | 1h | 320.94 | +0.703% | $171K | $333 | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 318.08 | −0.195% | $127K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0005% | 1h | 318.31 | −0.121% | $22K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 318.40 | −0.094% | $44K | $706K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 318.50 | −0.063% | $26.7M | $129.5M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.40 | −0.094% | $14.3M | $52.4M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.46 | −0.075% | $17.9M | $32.2M | 75x | as long as short |
| Bitget TAOUSDTshort | +0.0100% | 4h | 318.30 | −0.126% | $35.8M | $58.0M | 50x | |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 319.22 | +0.163% | $46K | $260K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 318.38 | −0.100% | $84K | $1.2M | 5x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
ApeX Omni TAOUSDT
Polymarket Perps TAO-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TAO-USDT | +0.0100% | 4h | 318.36 | −0.107% | $2K | $2.0M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 318.06 | −0.201% | $116K | $599K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0108% | 8h | 318.40 | −0.094% | $723 | $1.1M | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0113% / S +0.0153% | 1h | 318.37 | −0.104% | $425K | — | 100x | as long as short |
| Aevo TAO-PERP | +0.0128% | 1h | 318.72 | +0.006% | $175K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0129% | 4h | 318.54 | −0.050% | $53K | $293K | 10x | as long as short |
| MEXC TAO_USDT | +0.0186% | 4h | 318.63 | −0.022% | $106.9M | $151.4M | 300x | as long as short |
| Binance TAOUSDT | +0.0187% | 4h | 318.68 | −0.006% | $92.6M | $527.9M | 75x | as long as short |
| edgeX TAOUSDC | +0.0196% | 4h | 320.39 | +0.531% | $42K | $317K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0248% | 8h | 318.44 | −0.082% | $14K | $1K | 10x | as long as short |
| Bybit TAOUSDT | +0.0283% | 4h | 318.70 | 0.000% | $70.0M | $155.9M | 50x | as long as short |
| BingX TAO-USDT | +0.0294% | 4h | 318.63 | −0.022% | — | $35.3M | — | as long as short |
| Bullet TAO-USD | +0.0309% | 1h | 318.64 | −0.019% | $12K | $17K | 20x | as long as short |
| Aster TAOUSDT | +0.0352% | 4h | 318.60 | −0.030% | $1.3M | $10.9M | 50x | as long as short |
| Extended TAO-USD | +0.0360% | 1h | 318.50 | −0.063% | $908K | $2.4M | 25x | as long as short |
| GRVT TAO_USDT_Perp | +0.0378% | 4h | 320.18 | +0.463% | $543K | $929K | 10x | as long as short |
| BloFin TAO-USDT | +0.0428% | 4h | 319.12 | +0.132% | $4.7M | $11.0M | 100x | as long as short |
| Variational Omni TAO | +0.0513% | 4h | 319.68 | +0.306% | $5.7M | $10.2M | — | as long as short |
| Nado TAO-PERP | +0.0519% | 1h | 318.45 | −0.078% | $789K | $2.0M | 10x | as long as short |
| Phemex TAOUSDT | +0.0521% | 4h | 318.67 | −0.009% | $3.2M | $8.1M | 50x | as long as short |
| Pacifica TAO | +0.0525% | 1h | 318.52 | −0.057% | $362K | $429K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0533% | 1h | 318.58 | −0.036% | $15K | $2.0M | 25x | as long as short |
| Phoenix TAO | +0.0567% | 1h | 320.70 | +0.628% | $319K | $709K | 5x | as long as short |
| Hyperliquid TAO | +0.0602% | 1h | 318.78 | +0.025% | $94.3M | $109.9M | 5x | as long as short |
| Lighter TAO | +0.0608% | 1h | 318.78 | +0.026% | $1.6M | $6.8M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0624% | 1h | 318.59 | −0.035% | $3K | $4K | 5x | as long as short |
| Arcus TAO-USD | +0.0641% | 1h | 318.76 | +0.019% | $103K | $389K | 5x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0677% | 1h | 318.70 | long leg | $297K | $905K | 10x | |
| Reya TAORUSDPERP | +0.0698% | 1h | 318.61 | −0.027% | $366 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 319.13 | +0.135% | $1.5M | $6.8M | 50x | as long as short |
| RISEx TAO/USDC | +0.1077% | 1h | 318.41 | −0.092% | $438K | $676K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1158% | 1h | 318.74 | +0.014% | $6.0M | $21.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4723% | 1h | 325.94 | +2.272% | $24K | $2K | 12x | as long as short |
SunX TAO-USDT
HTX TAO-USDT
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Aevo TAO-PERP
Orderly PERP_TAO_USDC
MEXC TAO_USDT
Binance TAOUSDT
edgeX TAOUSDC
Paradex TAO-USD-PERP
Bybit TAOUSDT
BingX TAO-USDT
Bullet TAO-USD
Aster TAOUSDT
Extended TAO-USD
GRVT TAO_USDT_Perp
BloFin TAO-USDT
Variational Omni TAO
Nado TAO-PERP
Phemex TAOUSDT
Pacifica TAO
Deribit TAO_USDC-PERPETUAL
Phoenix TAO
Hyperliquid TAO
Lighter TAO
01 Exchange TAOUSD
Arcus TAO-USD
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP