Funding you earn now, next payment 03:00 UTC+0.3995%/8h= +437.4% APRnext payment +$4.99 per $10,000 · paid last 24h +0.322%
Price spread now: Deribit against Bulk+1.079%7-day average +0.128% · 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+$68as in the Price arb table
costs, in and out, $10k−$270.272% of the position
Funding, last 4 days (all we have)+0.331%+$33 on $10k
+Price spread, last 4 days (all we have)−0.853%−$85 · spread now +1.079%, 7d avg +0.128%
=Both sides work for this trade now. Funding pays +$120 a day on $10k at the current rate, and Deribit is 0.951% dearer against Bulk than usual: you sell high and buy low: +$95 more if the spread goes back to its 7-day average of +0.128%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.331% in total (about 34.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.99 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 | Bulk TAO-USD | 316.49 | −0.3652 | get 0.0456% / 1h | 40m 04s | $168K | $1K | 10x |
| Short | Deribit TAO_USDC-PERPETUAL | 319.91 | 0.0343 | get 0.0043% / 1h | 40m 04s | $17K | $1.6M | 25x |
Bulk TAO-USD
Deribit TAO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bulk. 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
- $838.85
- Price spread: +1.079% → +0.128%
- $95.13
- Slippage, 4 orders
- −$13.16
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $906.83
- Costs to cover
- 0.272%
- Break-even
- from the start
Slippage from Bulk: live order book, 24 min ago; Deribit: live order book, 4 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 Bulk live order book, 24 min ago | 0.16 bp | 4.7 bp −$5 | 8.2 bp −$82 | 15.3 bp −$1,526 | doesn't fit |
| Sell Deribit live order book, 4 min ago | 3.14 bp | 6.6 bp −$7 | 14.2 bp −$142 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USDlong | −0.3652% | 1h | 316.49 | long leg | $168K | $1K | 10x | |
| dYdX TAO-USD | 0.0000% | 1h | 320.00 | +1.109% | $128K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.71 | +1.017% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 320.71 | +1.333% | $44K | $654K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 320.02 | +1.115% | $92.7M | $472.0M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.80 | +1.046% | $26.4M | $116.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 320.00 | +1.109% | $13.1M | $49.4M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 319.05 | +0.809% | $106.6M | $139.3M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 320.11 | +1.144% | $18.1M | $30.9M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 319.04 | +0.806% | $35.6M | $53.9M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 318.60 | +0.666% | $36K | $300K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 320.42 | +1.242% | $74K | $764K | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.92 | +1.084% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 320.49 | +1.264% | $131K | $478K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 320.16 | +1.160% | $3.4M | $7.8M | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0101% | 4h | 320.18 | +1.166% | $58K | $282K | 10x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 320.26 | +1.190% | $176K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0115% | 8h | 320.65 | +1.314% | $681 | $754K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0163% / S +0.0106% | 1h | 319.68 | +1.009% | $434K | — | 100x | as long as short |
| GRVT TAO_USDT_Perp | +0.0224% | 4h | 318.95 | +0.778% | $526K | $955K | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0245% | 1h | 320.19 | +1.168% | $5.6M | $20.5M | 50x | as long as short |
| Bullet TAO-USD | +0.0300% | 1h | 320.04 | +1.122% | $12K | $18K | 20x | as long as short |
| Aster TAOUSDT | +0.0330% | 4h | 320.16 | +1.160% | $1.2M | $9.3M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0331% | 8h | 320.76 | +1.349% | $15K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 320.59 | +1.295% | $4.5M | $10.7M | 100x | as long as short |
| Deribit TAO_USDC-PERPETUALshort | +0.0343% | 1h | 319.91 | +1.079% | $17K | $1.6M | 25x | |
| Pacifica TAO | +0.0448% | 1h | 320.39 | +1.233% | $378K | $396K | 10x | as long as short |
| Phoenix TAO | +0.0504% | 1h | 318.90 | +0.761% | $333K | $707K | 5x | as long as short |
| Arcus TAO-USD | +0.0509% | 1h | 321.05 | +1.441% | $101K | $489K | 5x | as long as short |
| Nado TAO-PERP | +0.0527% | 1h | 320.35 | +1.218% | $773K | $2.1M | 10x | as long as short |
| BingX TAO-USDT | +0.0642% | 4h | 320.20 | +1.172% | — | $30.3M | — | as long as short |
| Bybit TAOUSDT | +0.0648% | 4h | 319.95 | +1.093% | $68.2M | $140.0M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 320.07 | +1.130% | $368 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0784% | 1h | 321.39 | +1.548% | $3K | $4K | 5x | as long as short |
| Variational Omni TAO | +0.0878% | 4h | 320.22 | +1.178% | $5.9M | $9.7M | — | as long as short |
| ApeX Omni TAOUSDT | +0.0883% | 1h | 318.78 | +0.724% | $47K | $253K | 50x | as long as short |
| Lighter TAO | +0.0896% | 1h | 320.57 | +1.289% | $1.6M | $6.3M | 5x | as long as short |
| Extended TAO-USD | +0.0920% | 1h | 319.14 | +0.837% | $937K | $2.3M | 25x | as long as short |
| Backpack TAO_USDC_PERP | +0.1005% | 1h | 320.57 | +1.289% | $441K | $860K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 320.58 | +1.292% | $1.5M | $6.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1159% | 1h | 320.74 | +1.341% | $455K | $627K | 5x | as long as short |
| Hyperliquid TAO | +0.1402% | 1h | 320.54 | +1.280% | $100.6M | $98.9M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4172% | 1h | 319.69 | +1.011% | $23K | $2K | 12x | as long as short |
edgeX TAOUSDC
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Orderly PERP_TAO_USDC
Aevo TAO-PERP
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
GRVT TAO_USDT_Perp
Kraken Futures PF_TAOUSD
Bullet TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
BloFin TAO-USDT
Pacifica TAO
Phoenix TAO
Arcus TAO-USD
Nado TAO-PERP
BingX TAO-USDT
Bybit TAOUSDT
Reya TAORUSDPERP
01 Exchange TAOUSD
Variational Omni TAO
ApeX Omni TAOUSDT
Lighter TAO
Extended TAO-USD
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP