TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1054%/8h= −115.5% APRnext payment −$1.32 per $10,000 · paid last 24h −0.019%

Price spread now: Bullet against Backpack−0.192%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Bullet is 0.192% cheaper against Backpack than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TAO_USDC_PERP	306.79	0.1154	pay 0.0144% / 1h	43m 32s	$469K	$683K	10x
Short	Bullet TAO-USD	306.20	0.0100	get 0.0013% / 1h	43m 32s	$12K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee BulletbpOrdersPrice spread, now −0.192%Rate

Funding earned: −$221.44
Price spread: −0.192% → 0.000%: −$19.22
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$258.66
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 45 min ago; Bullet: no order-book sample. Net counts fees only.

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, 45 min ago	0.64 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0973%	1h	304.87	−0.626%	$200K	$57K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	305.57	−0.398%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	305.92	−0.285%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.91	−0.287%	$40K	$524K	20x	as long as short
Pacifica TAO	+0.0100%	1h	305.99	−0.259%	$362K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.88	−0.296%	$85.7M	$400.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	306.09	−0.228%	$58.8M	$117.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.90	−0.290%	$24.9M	$91.9M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.03	−0.248%	$137K	$592K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	305.70	−0.355%	$12.1M	$47.5M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	305.81	−0.319%	$111.6M	$121.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	305.74	−0.342%	$18.2M	$26.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	305.30	−0.486%	$34.2M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.93	−0.280%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	304.69	−0.686%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.46	−0.433%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	304.62	−0.709%	$544K	$957K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.59	−0.391%	$46K	$267K	50x	as long as short
Bullet TAO-USDshort	+0.0100%	1h	306.20	−0.192%	$12K	$18K	20x
Orderly PERP_TAO_USDC	+0.0100%	4h	306.42	−0.121%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	306.19	−0.196%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	306.14	−0.212%	$121K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	305.96	−0.271%	$3.2M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	306.07	−0.235%	$168K	$998	3x	as long as short
Polymarket Perps TAO-USD	+0.0107%	1h	305.86	−0.303%	$84K	$668K	5x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	305.93	−0.280%	$1K	$419K	5x	as long as short
Aster TAOUSDT	+0.0119%	4h	305.74	−0.341%	$1.1M	$7.4M	50x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	305.82	−0.315%	$14K	$992	10x	as long as short
Nado TAO-PERP	+0.0168%	1h	305.65	−0.370%	$747K	$1.8M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	305.97	−0.269%	$436K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	304.80	−0.649%	$323K	$462K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0250%	1h	306.24	−0.179%	$13K	$1.3M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	304.81	−0.645%	$4.2M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0456%	1h	306.24	−0.179%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0632%	1h	305.71	−0.351%	$873K	$1.9M	25x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	305.35	−0.469%	$351	—	20x	as long as short
Lighter TAO	+0.0752%	1h	306.18	−0.199%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	307.05	+0.085%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1029%	1h	306.33	−0.151%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	305.76	−0.335%	$406K	$530K	5x	as long as short
Backpack TAO_USDC_PERPlong	+0.1154%	1h	306.79	long leg	$469K	$683K	10x
Hyperliquid TAO	+0.1505%	1h	306.79	0.000%	$93.0M	$75.2M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	307.78	+0.323%	$22K	$136	12x	as long as short