Funding you earn now, next payment 21:00 UTC+0.0860%/8h= +94.2% APRpaid last 24h +0.200%
Price spread now: Coinbase International against Bybit−0.137%7-day average +0.152% · you buy dearer than you sell
Net, funding: paid 7d − costs−$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$510.510% of the position
Funding, last 7 days+0.492%+$49 on $10k
+Price spread, last 3 days (all we have)+0.285%+$28 · spread now −0.137%, 7d avg +0.152%
=Funding pays, the price is against you. Coinbase International is 0.289% cheaper against Bybit than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of +0.152%). If the spread goes back, that is −$29 on $10k: about 27 hours of funding at the current rate (+$26 a day). At the pace of the last 7 days (+0.492% in total) that is about 4.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.492% in total (about 25.7% 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 | Bybit TAOUSDT | 307.21 | 0.0100 | pay 0.0050% / 4h | 2h 25m | $59.3M | $118.3M | 50x |
| Short | Coinbase International TAO-PERP-INTX | 306.79 | 0.0960 | get 0.0120% / 1h | 25m 56s | $1.5M | $5.4M | 50x |
Bybit TAOUSDT
Coinbase International TAO-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bybit. 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
- $180.6
- Price spread: −0.137% → +0.152%
- −$28.85
- Slippage, 4 orders
- −$30
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $100.75
- Costs to cover
- 0.510%
- Break-even
- 3.1 days
Slippage from Bybit: live order book, 3 min ago; Coinbase International: live order book, 3 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 Bybit live order book, 3 min ago | 0.16 bp | 10.0 bp −$10 | 18.2 bp −$182 | 45.3 bp −$4,526 | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 7.99 bp | 13.0 bp −$13 | 20.1 bp −$201 | 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 | 305.59 | −0.528% | $128K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0005% | 1h | 305.60 | −0.524% | $22K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 305.13 | −0.677% | $42K | $526K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 305.58 | −0.531% | $361K | $401K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 306.90 | −0.102% | $85.7M | $403.4M | 75x | as long as short |
| Bybit TAOUSDTlong | +0.0100% | 4h | 307.21 | long leg | $59.3M | $118.3M | 50x | |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 306.70 | −0.166% | $25.2M | $93.0M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 305.69 | −0.495% | $137K | $596K | 5x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 307.07 | −0.046% | $201K | $57K | 10x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 306.30 | −0.296% | $12.2M | $48.1M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
Bulk TAO-USD
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 306.62 | −0.192% | $114.0M | $123.8M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 306.65 | −0.182% | $18.5M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 306.50 | −0.231% | $34.3M | $44.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 307.09 | −0.039% | — | $30.4M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 307.53 | +0.105% | $3.6M | $6.5M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 307.34 | +0.042% | $40K | $278K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 307.77 | +0.181% | $539K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 307.19 | −0.007% | $46K | $267K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 305.63 | −0.514% | $86K | $667K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 305.77 | −0.469% | $11K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 305.81 | −0.456% | $59K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 305.75 | −0.475% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 305.72 | −0.485% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 305.94 | −0.413% | $3.2M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 305.77 | −0.470% | $168K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0112% | 8h | 305.35 | −0.605% | $873 | $434K | 5x | as long as short |
| Aster TAOUSDT | +0.0145% | 4h | 306.42 | −0.258% | $1.1M | $7.5M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0162% | 8h | 305.66 | −0.504% | $14K | $1K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0174% | 1h | 305.88 | −0.434% | $15K | $1.3M | 25x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 305.60 | −0.523% | $436K | — | 100x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 305.60 | −0.524% | $324K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0307% | 1h | 305.26 | −0.635% | $833K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 305.11 | −0.684% | $4.3M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0512% | 1h | 305.41 | −0.586% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 305.51 | −0.553% | $351 | — | 20x | as long as short |
| Extended TAO-USD | +0.0696% | 1h | 306.70 | −0.167% | $902K | $2.0M | 25x | as long as short |
| Lighter TAO | +0.0912% | 1h | 306.58 | −0.205% | $1.6M | $4.8M | 5x | as long as short |
| Coinbase International TAO-PERP-INTXshort | +0.0960% | 1h | 306.79 | −0.137% | $1.5M | $5.4M | 50x | |
| Kraken Futures PF_TAOUSD | +0.1029% | 1h | 306.29 | −0.301% | $6.3M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 305.35 | −0.606% | $408K | $535K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1171% | 1h | 306.68 | −0.173% | $443K | $715K | 10x | as long as short |
| Hyperliquid TAO | +0.1718% | 1h | 307.09 | −0.039% | $93.8M | $76.2M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4876% | 1h | 305.96 | −0.407% | $22K | $171 | 12x | as long as short |
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
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Deribit TAO_USDC-PERPETUAL
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Reya TAORUSDPERP
Extended TAO-USD
Lighter TAO
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Backpack TAO_USDC_PERP
Hyperliquid TAO
Injective TAO/USDC PERP