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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0745%/8h= −81.6% APRpaid last 24h −0.074%
Price spread now: KuCoin against Backpack−0.244%7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$540.537% of the position
Long on BackpackShort on KuCoin
What this pair did over the last
the charts below follow
Funding, last 7 days−0.103%−$10 on $10k
Price spread, last 4 days (all we have)+0.267%+$27 · spread now −0.244%, 7d avg −0.039%
Together, before fees+0.165%+$16 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and KuCoin is 0.205% cheaper against Backpack than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.039%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.103% in total (about -5.4% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack TAO_USDC_PERP319.020.0845pay 0.0106% / 1h17m 21s$316K$890K10x
ShortKuCoin TAOUSDTM318.240.0100get 0.0050% / 4h2h 17m$17.5M$31.5M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

KuCoin 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
−$156.51
Price spread: −0.244% → −0.039%
−$20.52
Slippage, 4 orders
−$31.65
Fee Backpack: 5 bp × 2 orders
−$10
Fee KuCoin: 6 bp × 2 orders
−$12
Net
−$230.68
Costs to cover
0.537%
Break-even
never at this rate
Slippage from Backpack: live order book, 32 min ago; KuCoin: live order book, 2 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, 32 min ago0.32 bp10.1 bp −$10doesn't fitdoesn't fitdoesn't fit
Sell KuCoin live order book, 2 min ago1.72 bp18.8 bp −$1940.5 bp −$405doesn'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−0.0038%1h313.74−1.655%$167K$33310xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h317.72−0.407%$21K—150xas long as short
dYdX TAO-USD+0.0036%1h317.84−0.371%$127K$85K5xas long as short
Binance TAOUSDT+0.0100%4h317.99−0.324%$91.3M$512.3M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h317.90−0.351%$26.6M$125.0M50xas long as short
Gate TAO_USDT+0.0100%4h317.80−0.382%$14.2M$51.5M50xas long as short
MEXC TAO_USDT+0.0100%4h318.04−0.307%$100.5M$147.7M300xas long as short
KuCoin TAOUSDTMshort+0.0100%4h318.24−0.244%$17.5M$31.5M75x
Bitget TAOUSDT+0.0100%4h317.78−0.389%$35.8M$57.4M50xas long as short
edgeX TAOUSDC+0.0100%4h318.55−0.146%$42K$316K10xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Polymarket Perps TAO-USD+0.0100%1h317.90−0.351%$91K$920K5xas long as short
SunX TAO-USDT+0.0100%4h318.75−0.085%$1K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h318.64−0.119%$116K$564K20xas long as short
Phemex TAOUSDT+0.0100%4h318.83−0.060%$3.2M$8.0M50xas long as short
Popdex TAOUSDT+0.0104%1h318.39−0.197%$53K$672K20xas long as short
Aevo TAO-PERP+0.0104%1h318.20−0.259%$175K$9983xas long as short
Katana Perps TAO-USD+0.0111%8h318.43−0.185%$2K$942K5xas long as short
Orderly PERP_TAO_USDC+0.0118%4h318.01−0.317%$53K$290K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0127% / S +0.0141%1h317.57−0.454%$426K—100xas long as short
Pacifica TAO+0.0233%1h318.27−0.235%$363K$420K10xas long as short
Aster TAOUSDT+0.0263%4h318.36−0.207%$1.3M$10.7M50xas long as short
Paradex TAO-USD-PERP+0.0275%8h318.59−0.134%$14K$1K10xas long as short
Nado TAO-PERP+0.0277%1h318.04−0.306%$799K$2.2M10xas long as short
Kraken Futures PF_TAOUSD+0.0298%1h319.33+0.099%$6.0M$21.5M50xas long as short
Bullet TAO-USD+0.0329%1h318.07−0.296%$12K$17K20xas long as short
BloFin TAO-USDT+0.0340%4h318.93−0.028%$4.6M$11.0M100xas long as short
Bybit TAOUSDT+0.0390%4h318.16−0.270%$69.4M$153.5M50xas long as short
BingX TAO-USDT+0.0400%4h317.96−0.332%—$33.7M—as long as short
GRVT TAO_USDT_Perp+0.0448%4h318.95−0.021%$545K$935K10xas long as short
Variational Omni TAO+0.0459%4h318.52−0.157%$5.6M$10.1M—as long as short
Arcus TAO-USD+0.0483%1h318.83−0.060%$103K$345K5xas long as short
Extended TAO-USD+0.0504%1h318.36−0.206%$906K$2.4M25xas long as short
Phoenix TAO+0.0513%1h319.50+0.150%$318K$713K5xas long as short
Deribit TAO_USDC-PERPETUAL+0.0513%1h317.98−0.325%$15K$1.8M25xas long as short
ApeX Omni TAOUSDT+0.0520%1h319.52+0.157%$45K$256K50xas long as short
Reya TAORUSDPERP+0.0697%1h317.90−0.351%$366—20xas long as short
01 Exchange TAOUSD+0.0808%1h318.56−0.144%$3K$4K5xas long as short
Hyperliquid TAO+0.0816%1h318.40−0.194%$93.6M$109.2M5xas long as short
Lighter TAO+0.0816%1h318.34−0.212%$1.5M$6.6M5xas long as short
Backpack TAO_USDC_PERPlong+0.0845%1h319.02long leg$316K$890K10x
Coinbase International TAO-PERP-INTX+0.0928%1h319.49+0.147%$1.5M$7.0M50xas long as short
RISEx TAO/USDC+0.0948%1h318.44−0.183%$460K$650K5xas long as short
Injective TAO/USDC PERP+0.3711%1h322.94+1.229%$23K$2K12xas long as short