TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0063%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h +0.057%

Price spread now: RISEx against Backpack+0.318%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$7as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Backpack Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.349%+$35 on $10k

Price spread, last 4 days (all we have)−0.268%−$27 · spread now +0.318%, 7d avg −0.022%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. RISEx is 0.341% dearer against Backpack than usual: you sell high and buy low (spread +0.318% now, against its 7-day average of −0.022%): +$34 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 18 days. Mind the row above: over the last 3 days funding on this pair paid +0.349%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TAO_USDC_PERP	307.34	0.1116	pay 0.0140% / 1h	22m 58s	$444K	$715K	10x
Short	RISEx TAO/USDC	308.32	0.1053	get 0.0132% / 1h	22m 58s	$415K	$537K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.318%Rate

Funding earned: −$13.33
Price spread: +0.318% → −0.022%: $34.07
Slippage, 4 orders: −$25.45
Fee Backpack: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$20.71
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Backpack: live order book, 66 min ago; RISEx: live order book, 1 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, 66 min ago	0.64 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	0.65 bp	7.5 bp −$8	32.6 bp −$326	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	307.80	+0.149%	$129K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	307.77	+0.140%	$15K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	307.76	+0.138%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.15	+0.264%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.21	+0.283%	$364K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.14	−0.067%	$85.8M	$404.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.14	−0.065%	$59.3M	$118.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.00	−0.111%	$25.3M	$93.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.26	+0.299%	$137K	$598K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	−0.088%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.10	−0.078%	$12.2M	$48.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.01	−0.107%	$114.0M	$124.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.05	−0.094%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	306.97	−0.120%	$34.4M	$44.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.10	−0.078%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.90	−0.469%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	305.13	−0.720%	$39K	$276K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	305.16	−0.710%	$535K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	304.90	−0.794%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.34	+0.325%	$78K	$675K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	308.06	+0.235%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.87	+0.172%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.76	+0.137%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.88	+0.176%	$121K	$353K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.36	+0.007%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	308.00	+0.216%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	308.21	+0.283%	$1K	$437K	5x	as long as short
Paradex TAO-USD-PERP	+0.0164%	8h	308.10	+0.248%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0166%	4h	307.33	−0.003%	$1.1M	$7.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.80	+0.149%	$440K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	307.30	−0.013%	$325K	$462K	5x	as long as short
Nado TAO-PERP	+0.0287%	1h	308.01	+0.219%	$842K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.69	+0.114%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	308.54	+0.390%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	308.25	+0.295%	$354	—	20x	as long as short
Extended TAO-USD	+0.0704%	1h	307.01	−0.106%	$906K	$2.0M	25x	as long as short
Lighter TAO	+0.0920%	1h	307.85	+0.165%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.04	+0.228%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1024%	1h	307.72	+0.124%	$6.3M	$19.3M	50x	as long as short
RISEx TAO/USDCshort	+0.1053%	1h	308.32	+0.318%	$415K	$537K	5x
Backpack TAO_USDC_PERPlong	+0.1116%	1h	307.34	long leg	$444K	$715K	10x
Hyperliquid TAO	+0.1738%	1h	308.01	+0.218%	$94.2M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	−0.449%	$22K	$171	12x	as long as short