Funding you earn now, next payment 22:00 UTC+0.1268%/8h= +138.9% APRnext payment +$1.59 per $10,000 · paid last 24h −0.010%
Price spread now: Backpack against dYdX−0.006%7-day average +0.076% · you buy dearer than you sell
Net, funding: paid 7d − costs−$140as in the Funding arb table
Net, price: spread back to 7d avg − costs−$139as in the Price arb table
costs, in and out, $10k−$1301.304% of the position
Funding, last 7 days−0.097%−$10 on $10k
+Price spread, last 4 days (all we have)+0.219%+$22 · spread now −0.006%, 7d avg +0.076%
=Funding pays, the price is against you. Backpack is 0.082% cheaper against dYdX than usual: you would sell low and buy high (spread −0.006% now, against its 7-day average of +0.076%). If the spread goes back, that is −$8 on $10k: about 5 hours of funding at the current rate (+$38 a day). Mind the row above: over the last 7 days funding on this pair cost −0.097%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.097% in total (about -5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.59 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 | dYdX TAO-USD | 306.36 | 0 | get 0.0000% / 1h | 35m 22s | $129K | $84K | 5x |
| Short | Backpack TAO_USDC_PERP | 306.34 | 0.1268 | get 0.0159% / 1h | 35m 22s | $469K | $683K | 10x |
dYdX TAO-USD
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against dYdX. 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
- $266.37
- Price spread: −0.006% → +0.076%
- −$8.18
- Slippage, 4 orders
- −$110.37
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $127.83
- Costs to cover
- 1.304%
- Break-even
- 3.6 days
Slippage from dYdX: live order book, 53 min ago; Backpack: live order book, 53 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 dYdX live order book, 53 min ago | 45.10 bp | 50.1 bp −$50 | 76.6 bp −$766 | 166.4 bp −$16.6K | 377.2 bp −$188.6K |
| Sell Backpack live order book, 53 min ago | 0.64 bp | 9.0 bp −$9 | 13.3 bp −$133 | 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-USDlong | 0.0000% | 1h | 306.36 | long leg | $129K | $84K | 5x | |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 306.17 | −0.063% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 306.52 | +0.053% | $41K | $524K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 306.50 | +0.046% | $362K | $400K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 306.38 | +0.007% | $85.9M | $401.4M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 306.54 | +0.059% | $59.0M | $117.4M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 306.50 | +0.046% | $25.0M | $92.4M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 306.77 | +0.134% | $137K | $593K | 5x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 306.20 | −0.052% | $12.1M | $47.7M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 306.36 | +0.001% | $112.8M | $122.5M | 300x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 306.37 | +0.004% | $18.5M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 306.29 | −0.022% | $34.3M | $44.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 306.39 | +0.010% | — | $30.4M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 305.77 | −0.192% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 305.09 | −0.415% | $39K | $276K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.96 | −0.131% | $536K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 305.64 | −0.234% | $46K | $268K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 306.28 | −0.025% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 306.37 | +0.004% | $59K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 306.34 | −0.006% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 306.21 | −0.048% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 305.79 | −0.185% | $3.2M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 306.42 | +0.019% | $168K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0113% | 8h | 306.54 | +0.059% | $876 | $428K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0123% | 1h | 306.64 | +0.092% | $85K | $668K | 5x | as long as short |
| Aster TAOUSDT | +0.0140% | 4h | 306.34 | −0.006% | $1.1M | $7.5M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0166% | 8h | 306.55 | +0.062% | $14K | $992 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 306.17 | −0.061% | $437K | — | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0206% | 1h | 306.49 | +0.044% | $14K | $1.3M | 25x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 306.20 | −0.052% | $324K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0253% | 1h | 306.46 | +0.035% | $849K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 306.41 | +0.017% | $4.3M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0512% | 1h | 306.95 | +0.193% | $3K | $4K | 5x | as long as short |
| Bulk TAO-USD | +0.0668% | 1h | 304.81 | −0.505% | $200K | $57K | 10x | as long as short |
| Extended TAO-USD | +0.0688% | 1h | 306.54 | +0.059% | $872K | $1.9M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 306.34 | −0.006% | $352 | — | 20x | as long as short |
| Lighter TAO | +0.0872% | 1h | 306.88 | +0.171% | $1.6M | $4.8M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 306.23 | −0.042% | $1.5M | $5.3M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1028% | 1h | 306.75 | +0.129% | $6.3M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 306.68 | +0.105% | $411K | $537K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.1268% | 1h | 306.34 | −0.006% | $469K | $683K | 10x | |
| Hyperliquid TAO | +0.1659% | 1h | 307.00 | +0.210% | $93.3M | $75.5M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4876% | 1h | 308.62 | +0.738% | $22K | $138 | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Polymarket Perps TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
GMX TAO/USD [WBTC.b-USDC]
Deribit TAO_USDC-PERPETUAL
Phoenix TAO
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Bulk TAO-USD
Extended TAO-USD
Reya TAORUSDPERP
Lighter TAO
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP