TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0671%/8h= +73.5% APRnext payment +$0.84 per $10,000 · paid last 24h +0.028%

Price spread now: Backpack against Bullet−0.073%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bullet Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Backpack is 0.073% cheaper against Bullet than usual: you would sell low and buy high (spread −0.073% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 9 hours of funding at the current rate (+$20 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	314.18	0.0230	pay 0.0029% / 1h	57m 39s	$12K	$17K	20x
Short	Backpack TAO_USDC_PERP	313.95	0.0901	get 0.0113% / 1h	57m 39s	$301K	$799K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bullet. 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 BulletbpFee BackpackbpOrdersPrice spread, now −0.073%Rate

Funding earned: $140.87
Price spread: −0.073% → 0.000%: −$7.33
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $115.54
Costs to cover: 0.180%
Break-even: 1.3 days

Slippage unknown: Bullet: no order-book sample; Backpack: live order book, 21 min ago. Net counts fees only.

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 Bullet no order-book sample	—	—	—	—	—
Sell Backpack live order book, 21 min ago	1.96 bp	7.3 bp −$7	20.8 bp −$208	doesn't fit	doesn't fit

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-USD	−0.1120%	1h	305.94	−2.623%	$164K	$52K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.75	−0.136%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.90	−0.090%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	308.73	−1.735%	$22K	$259	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.12	−0.019%	$40K	$547K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.96	−0.071%	$371K	$370K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.88	−0.094%	$88.4M	$418.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.06	−0.038%	$61.3M	$122.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.00	−0.057%	$25.3M	$99.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.70	−0.153%	$12.5M	$48.4M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	313.72	−0.146%	$119.9M	$125.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.79	−0.124%	$19.0M	$27.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.75	−0.137%	$35.1M	$45.8M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.88	−0.096%	—	$30.3M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.23	−0.302%	$41K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.77	−0.767%	$515K	$950K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	309.27	−1.563%	$46K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.03	−0.048%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.01	−0.054%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.19	+0.003%	$126K	$385K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.79	−0.124%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	317.35	+1.010%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	314.22	+0.013%	$831	$528K	5x	as long as short
Variational Omni TAO	+0.0136%	4h	310.79	−1.078%	$3.8M	$6.8M	—	as long as short
Arcus TAO-USD	+0.0186%	1h	314.18	0.000%	$81K	$644K	5x	as long as short
Paradex TAO-USD-PERP	+0.0189%	8h	313.92	−0.083%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0209%	4h	314.03	−0.048%	$1.1M	$7.8M	50x	as long as short
Bullet TAO-USDlong	+0.0230%	1h	314.18	long leg	$12K	$17K	20x
Deribit TAO_USDC-PERPETUAL	+0.0274%	1h	314.10	−0.027%	$19K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.15	−0.010%	$4.3M	$9.7M	100x	as long as short
Nado TAO-PERP	+0.0383%	1h	314.19	+0.005%	$863K	$1.9M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0447%	1h	314.07	−0.035%	$5.8M	$19.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0464%	1h	314.19	+0.003%	$77K	$548K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0477% / S −0.0175%	1h	313.87	−0.098%	$450K	—	100x	as long as short
Phoenix TAO	+0.0521%	1h	312.60	−0.503%	$327K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.86	−0.102%	$361	—	20x	as long as short
Extended TAO-USD	+0.0760%	1h	313.81	−0.119%	$851K	$2.1M	25x	as long as short
Backpack TAO_USDC_PERPshort	+0.0901%	1h	313.95	−0.073%	$301K	$799K	10x
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.58	+0.127%	$1.5M	$5.7M	50x	as long as short
01 Exchange TAOUSD	+0.1104%	1h	314.75	+0.181%	$3K	$4K	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	314.07	−0.036%	$432K	$537K	5x	as long as short
Lighter TAO	+0.1368%	1h	314.08	−0.030%	$1.6M	$5.7M	5x	as long as short
Hyperliquid TAO	+0.2489%	1h	314.92	+0.235%	$98.2M	$82.4M	5x	as long as short