Settings8H · net · $10k
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Funding arb · Price arb /

TAO

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0603%/8h= +66.1% APRnext payment +$0.75 per $10,000 · paid last 24h +0.179%
Price spread now: Coinbase International against Backpack+0.267%7-day average +0.141% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$510.510% of the position
Long on BackpackShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days+0.496%+$50 on $10k
Price spread, last 3 days (all we have)−0.198%−$20 · spread now +0.267%, 7d avg +0.141%
Together, before fees+0.298%+$30 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Coinbase International is 0.127% dearer against Backpack than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.141%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack TAO_USDC_PERP306.580.0405pay 0.0051% / 1h53m 55s$379K$756K10x
ShortCoinbase International TAO-PERP-INTX307.400.1008get 0.0126% / 1h53m 55s$1.5M$5.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International 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

Funding earned
$126.69
Price spread: +0.267% → +0.141%
$12.66
Slippage, 4 orders
−$31.05
Fee Backpack: 5 bp × 2 orders
−$10
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
$88.31
Costs to cover
0.510%
Break-even
2.1 days
Slippage from Backpack: live order book, 30 min ago; Coinbase International: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 30 min ago0.16 bp20.3 bp −$20doesn't fitdoesn't fitdoesn't fit
Sell Coinbase International live order book, 5 min ago4.70 bp12.8 bp −$1319.4 bp −$194doesn't fitdoesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.0306%1h307.82+0.404%$202K$57K10xas long as short
dYdX TAO-USD0.0000%1h306.65+0.023%$126K$87K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0007%1h306.48−0.033%$26K—150xas long as short
Deribit TAO_USDC-PERPETUAL+0.0077%1h306.63+0.017%$15K$1.3M25xas long as short
Popdex TAOUSDT+0.0096%1h306.37−0.068%$42K$532K20xas long as short
Binance TAOUSDT+0.0100%4h306.51−0.023%$86.1M$407.8M75xas long as short
Bybit TAOUSDT+0.0100%4h306.53−0.016%$59.6M$120.0M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h306.40−0.059%$24.7M$94.7M50xas long as short
Arcus TAO-USD+0.0100%1h306.96+0.124%$137K$584K5xas long as short
Gate TAO_USDT+0.0100%4h306.40−0.059%$12.2M$48.0M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC TAO_USDT+0.0100%4h306.57−0.003%$120.8M$123.3M300xas long as short
KuCoin TAOUSDTM+0.0100%4h306.36−0.072%$18.8M$26.8M75xas long as short
Bitget TAOUSDT+0.0100%4h306.29−0.095%$34.4M$45.6M50xas long as short
BingX TAO-USDT+0.0100%4h306.46−0.039%—$30.4M—as long as short
Variational Omni TAO+0.0100%4h308.27+0.551%$3.7M$6.6M—as long as short
edgeX TAOUSDC+0.0100%4h307.32+0.243%$40K$276K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h308.04+0.475%$548K$937K10xas long as short
Polymarket Perps TAO-USD+0.0100%1h306.64+0.020%$78K$630K5xas long as short
Bullet TAO-USD+0.0100%1h306.580.000%$11K$18K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h306.54−0.013%$59K$276K10xas long as short
SunX TAO-USDT+0.0100%4h306.38−0.065%$1K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h306.62+0.013%$121K$354K20xas long as short
Phemex TAOUSDT+0.0100%4h306.39−0.062%$3.2M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h306.72+0.044%$168K$9983xas long as short
Katana Perps TAO-USD+0.0113%8h306.61+0.010%$627$480K5xas long as short
Aster TAOUSDT+0.0144%4h306.39−0.063%$1.1M$7.6M50xas long as short
Paradex TAO-USD-PERP+0.0160%8h306.57−0.002%$14K$1K10xas long as short
Pacifica TAO+0.0164%1h306.72+0.046%$363K$369K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0069%1h306.39−0.062%$437K—100xas long as short
Phoenix TAO+0.0234%1h308.50+0.626%$327K$491K5xas long as short
BloFin TAO-USDT+0.0340%4h306.92+0.111%$4.3M$9.4M100xas long as short
Backpack TAO_USDC_PERPlong+0.0405%1h306.58long leg$379K$756K10x
ApeX Omni TAOUSDT+0.0428%1h308.15+0.512%$46K$268K50xas long as short
01 Exchange TAOUSD+0.0512%1h306.59+0.003%$3K$4K5xas long as short
Nado TAO-PERP+0.0560%1h306.28−0.099%$844K$1.9M10xas long as short
Reya TAORUSDPERP+0.0694%1h306.55−0.008%$353—20xas long as short
Lighter TAO+0.0720%1h306.79+0.068%$1.7M$4.9M5xas long as short
Extended TAO-USD+0.0840%1h306.51−0.024%$894K$2.0M25xas long as short
Coinbase International TAO-PERP-INTXshort+0.1008%1h307.40+0.267%$1.5M$5.6M50x
Kraken Futures PF_TAOUSD+0.1030%1h306.67+0.030%$6.3M$19.0M50xas long as short
RISEx TAO/USDC+0.1155%1h306.73+0.047%$413K$545K5xas long as short
Injective TAO/USDC PERP+0.1621%1h308.73+0.701%$22K$26412xas long as short
Hyperliquid TAO+0.1725%1h306.95+0.121%$95.4M$77.9M5xas long as short