Funding you earn now, next payment 08:00 UTC−0.0718%/8h= −78.6% APRnext payment −$0.90 per $10,000 · paid last 24h −0.091%
Price spread now: dYdX against Backpack+0.035%7-day average −0.091% · you sell dearer than you buy
Net, funding: paid 7d − costs−$117as in the Funding arb table
Net, price: spread back to 7d avg − costs−$102as in the Price arb table
costs, in and out, $10k−$1141.142% of the position
Funding, last 7 days−0.031%−$3 on $10k
+Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.035%, 7d avg −0.091%
=The price spread pays, funding is against you. dYdX is 0.126% dearer against Backpack than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.091%): +$13 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.031% in total) that is about 28 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.031% in total (about -1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.90 per $10,000. 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 | 318.55 | 0.0773 | pay 0.0097% / 1h | 43m 06s | $297K | $904K | 10x |
| Short | dYdX TAO-USD | 318.66 | 0.0056 | get 0.0007% / 1h | 43m 06s | $127K | $85K | 5x |
Backpack TAO_USDC_PERP
dYdX TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$150.68
- Price spread: +0.035% → −0.091%
- $12.55
- Slippage, 4 orders
- −$94.23
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$252.36
- Costs to cover
- 1.142%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 61 min ago; dYdX: live order book, 61 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, 61 min ago | 1.87 bp | 7.3 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell dYdX live order book, 61 min ago | 44.87 bp | 49.9 bp −$50 | 57.1 bp −$571 | 185.6 bp −$18.6K | 503.1 bp −$251.6K |
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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0005% | 1h | 318.31 | −0.077% | $22K | — | 150x | as long as short |
| dYdX TAO-USDshort | +0.0056% | 1h | 318.66 | +0.035% | $127K | $85K | 5x | |
| Popdex TAOUSDT | +0.0096% | 1h | 318.89 | +0.107% | $44K | $709K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 318.20 | −0.110% | $26.4M | $130.5M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.20 | −0.110% | $14.5M | $51.1M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.28 | −0.085% | $17.9M | $32.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 318.16 | −0.122% | $35.8M | $57.9M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 318.79 | +0.075% | $89K | $1.2M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 318.12 | −0.135% | $1K | $2.0M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 318.65 | +0.031% | $116K | $604K | 20x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps TAO-USD | +0.0107% | 8h | 318.80 | +0.078% | $723 | $1.1M | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0108% / S +0.0133% | 1h | 318.55 | −0.001% | $410K | — | 100x | as long as short |
| Aevo TAO-PERP | +0.0128% | 1h | 318.50 | −0.016% | $175K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0149% | 4h | 318.36 | −0.060% | $53K | $293K | 10x | as long as short |
| edgeX TAOUSDC | +0.0178% | 4h | 318.66 | +0.035% | $42K | $320K | 10x | as long as short |
| MEXC TAO_USDT | +0.0182% | 4h | 318.46 | −0.028% | $100.2M | $151.2M | 300x | as long as short |
| Binance TAOUSDT | +0.0186% | 4h | 318.37 | −0.057% | $92.4M | $529.3M | 75x | as long as short |
| Paradex TAO-USD-PERP | +0.0255% | 8h | 319.09 | +0.170% | $14K | $1K | 10x | as long as short |
| BingX TAO-USDT | +0.0283% | 4h | 318.50 | −0.016% | — | $37.0M | — | as long as short |
| Bybit TAOUSDT | +0.0294% | 4h | 318.46 | −0.028% | $70.0M | $156.3M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0309% | 1h | 318.62 | +0.022% | $46K | $260K | 50x | as long as short |
| Pacifica TAO | +0.0313% | 1h | 318.92 | +0.118% | $362K | $429K | 10x | as long as short |
| Bulk TAO-USD | +0.0314% | 1h | 317.73 | −0.257% | $169K | $333 | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0318% | 1h | 318.39 | −0.050% | $15K | $2.0M | 25x | as long as short |
| GRVT TAO_USDT_Perp | +0.0334% | 4h | 318.97 | +0.133% | $544K | $926K | 10x | as long as short |
| Aster TAOUSDT | +0.0344% | 4h | 318.58 | +0.009% | $1.3M | $11.0M | 50x | as long as short |
| Bullet TAO-USD | +0.0366% | 1h | 318.87 | +0.099% | $12K | $17K | 20x | as long as short |
| Extended TAO-USD | +0.0368% | 1h | 318.23 | −0.100% | $908K | $2.4M | 25x | as long as short |
| BloFin TAO-USDT | +0.0426% | 4h | 319.21 | +0.207% | $4.7M | $10.9M | 100x | as long as short |
| Arcus TAO-USD | +0.0473% | 1h | 319.26 | +0.223% | $103K | $388K | 5x | as long as short |
| Nado TAO-PERP | +0.0497% | 1h | 318.85 | +0.095% | $790K | $2.0M | 10x | as long as short |
| Phemex TAOUSDT | +0.0527% | 4h | 318.59 | +0.013% | $3.2M | $8.2M | 50x | as long as short |
| Variational Omni TAO | +0.0534% | 4h | 319.26 | +0.224% | $5.6M | $10.3M | — | as long as short |
| Lighter TAO | +0.0536% | 1h | 318.71 | +0.051% | $1.6M | $6.9M | 5x | as long as short |
| Phoenix TAO | +0.0629% | 1h | 319.10 | +0.173% | $318K | $703K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0698% | 1h | 318.80 | +0.077% | $367 | — | 20x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0773% | 1h | 318.55 | long leg | $297K | $904K | 10x | |
| 01 Exchange TAOUSD | +0.0792% | 1h | 319.36 | +0.254% | $3K | $4K | 5x | as long as short |
| Hyperliquid TAO | +0.0796% | 1h | 318.65 | +0.031% | $94.3M | $110.1M | 5x | as long as short |
| RISEx TAO/USDC | +0.0831% | 1h | 318.83 | +0.089% | $450K | $673K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0832% | 1h | 318.48 | −0.021% | $6.0M | $21.6M | 50x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 318.70 | +0.047% | $1.5M | $6.9M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4513% | 1h | 322.94 | +1.378% | $23K | $2K | 12x | as long as short |
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Aevo TAO-PERP
Orderly PERP_TAO_USDC
edgeX TAOUSDC
MEXC TAO_USDT
Binance TAOUSDT
Paradex TAO-USD-PERP
BingX TAO-USDT
Bybit TAOUSDT
ApeX Omni TAOUSDT
Pacifica TAO
Bulk TAO-USD
Deribit TAO_USDC-PERPETUAL
GRVT TAO_USDT_Perp
Aster TAOUSDT
Bullet TAO-USD
Extended TAO-USD
BloFin TAO-USDT
Arcus TAO-USD
Nado TAO-PERP
Phemex TAOUSDT
Variational Omni TAO
Lighter TAO
Phoenix TAO
Reya TAORUSDPERP
01 Exchange TAOUSD
Hyperliquid TAO
RISEx TAO/USDC
Kraken Futures PF_TAOUSD
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP