Funding you earn now, next payment 22:00 UTC−0.1093%/8h= −119.7% APRpaid last 24h −0.019%
Price spread now: HTX against Backpack−0.046%7-day average −0.158% · you buy dearer than you sell
Net, funding: paid 7d − costs−$296as in the Funding arb table
Net, price: spread back to 7d avg − costs−$280as in the Price arb table
costs, in and out, $10k−$2922.915% of the position
Funding, last 7 days−0.050%−$5 on $10k
+Price spread, last 3 days (all we have)−0.076%−$8 · spread now −0.046%, 7d avg −0.158%
=The price spread pays, funding is against you. HTX is 0.112% dearer against Backpack than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.158%): +$11 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.050% in total) that is about 16 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% 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 | 305.16 | 0.1193 | pay 0.0149% / 1h | 26m 56s | $441K | $715K | 10x |
| Short | HTX TAO-USDT | 305.02 | 0.0100 | get 0.0050% / 4h | 2h 26m | $120K | $352K | 20x |
Backpack TAO_USDC_PERP
HTX TAO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$229.53
- Price spread: −0.046% → −0.158%
- $11.22
- Slippage, 4 orders
- −$269.5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$509.81
- Costs to cover
- 2.915%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 62 min ago; HTX: live order book, 60 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, 62 min ago | 0.64 bp | 21.1 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
| Sell HTX live order book, 60 min ago | 31.40 bp | 92.6 bp −$93 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 304.91 | −0.082% | $128K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.95 | −0.069% | $19K | — | 150x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0041% | 1h | 305.12 | −0.014% | $15K | $1.3M | 25x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 305.14 | −0.007% | $41K | $525K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 305.19 | +0.010% | $361K | $401K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 305.31 | +0.049% | $85.4M | $403.2M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 305.56 | +0.131% | $59.0M | $118.2M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 305.60 | +0.144% | $25.1M | $92.6M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 305.56 | +0.131% | $136K | $596K | 5x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 307.07 | +0.626% | $201K | $57K | 10x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
Bulk 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 | 304.90 | −0.085% | $12.1M | $48.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 305.01 | −0.049% | $112.8M | $123.6M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 304.93 | −0.075% | $18.4M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 305.40 | +0.079% | $34.2M | $44.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 305.43 | +0.088% | — | $30.4M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 307.53 | +0.777% | $3.6M | $6.5M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 307.34 | +0.714% | $40K | $278K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 307.77 | +0.854% | $539K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 307.19 | +0.665% | $46K | $267K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 305.21 | +0.016% | $86K | $668K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 305.09 | −0.025% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 305.03 | −0.043% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 304.95 | −0.069% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDTshort | +0.0100% | 4h | 305.02 | −0.046% | $120K | $352K | 20x | |
| Phemex TAOUSDT | +0.0100% | 4h | 304.80 | −0.118% | $3.2M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 305.17 | +0.005% | $168K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0112% | 8h | 305.14 | −0.007% | $3K | $434K | 5x | as long as short |
| Aster TAOUSDT | +0.0151% | 4h | 305.02 | −0.047% | $1.1M | $7.5M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0162% | 8h | 305.08 | −0.025% | $14K | $1K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 304.92 | −0.078% | $435K | — | 100x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 305.60 | +0.144% | $324K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0311% | 1h | 305.03 | −0.042% | $833K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 305.11 | −0.016% | $4.3M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0520% | 1h | 305.41 | +0.082% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 305.11 | −0.017% | $351 | — | 20x | as long as short |
| Extended TAO-USD | +0.0696% | 1h | 304.89 | −0.087% | $897K | $2.0M | 25x | as long as short |
| Lighter TAO | +0.0912% | 1h | 305.38 | +0.073% | $1.6M | $4.8M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 306.30 | +0.374% | $1.5M | $5.3M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1033% | 1h | 305.22 | +0.019% | $6.3M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 305.26 | +0.034% | $408K | $535K | 5x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.1193% | 1h | 305.16 | long leg | $441K | $715K | 10x | |
| Hyperliquid TAO | +0.1714% | 1h | 306.09 | +0.305% | $93.4M | $76.0M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4876% | 1h | 305.96 | +0.262% | $22K | $171 | 12x | as long as short |
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
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
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Reya TAORUSDPERP
Extended TAO-USD
Lighter TAO
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP