Funding you earn now, next payment 09:00 UTC+0.0536%/8h= +58.7% APRpaid last 24h +0.094%
Price spread now: Backpack against edgeX−0.281%85s7-day average +0.052% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$370.367% of the position
Funding, last 7 days+0.161%+$16 on $10k
+Price spread, last 4 days (all we have)−0.392%−$39 · spread now −0.281%, 7d avg +0.052%
=Together, before fees−0.231%+ Points / potential airdropedgeX: Active · farm board−$23 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.333% cheaper against edgeX than usual: you would sell low and buy high (spread −0.281% now, against its 7-day average of +0.052%). If the spread goes back, that is −$33 on $10k: about 2.1 days of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.161% in total) that is about 14 days. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.161% in total (about 8.4% 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 | edgeX TAOUSDC | 316.46 | 0.0165 | pay 0.0083% / 4h | 3h 40m | $42K | $322K | 10x |
| Short | Backpack TAO_USDC_PERP | 315.57 | 0.0701 | get 0.0088% / 1h | 40m 02s | $315K | $1.0M | 10x |
edgeX TAOUSDC
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against edgeX. 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
- $112.51
- Price spread: −0.281% → +0.052%
- −$33.25
- Slippage, 4 orders
- −$17.71
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $42.54
- Costs to cover
- 0.367%
- Break-even
- 4.4 days
Slippage from edgeX: live order book, 58 min ago; Backpack: 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 edgeX live order book, 58 min ago | 6.32 bp | 10.8 bp −$11 | 23.2 bp −$232 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 min ago | 2.53 bp | 7.6 bp −$8 | 30.1 bp −$301 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0005% | 1h | 315.00 | −0.460% | $22K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 315.52 | −0.296% | $49K | $714K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0100% | 8h | 315.31 | −0.363% | $645 | $1.2M | 5x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.40 | −0.334% | $26.3M | $130.2M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 315.20 | −0.398% | $14.8M | $49.3M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 315.29 | −0.369% | $17.7M | $32.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 315.20 | −0.398% | $35.5M | $57.7M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 315.24 | −0.385% | $86K | $1.2M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 315.09 | −0.432% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.68 | −0.562% | $115K | $589K | 20x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Katana Perps TAO-USD
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TAOUSDT | +0.0100% | 4h | 315.38 | −0.341% | $3.2M | $8.1M | 50x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 315.45 | −0.319% | $173K | $998 | 3x | as long as short |
| MEXC TAO_USDT | +0.0152% | 4h | 315.54 | −0.290% | $104.3M | $151.7M | 300x | as long as short |
| Binance TAOUSDT | +0.0154% | 4h | 315.56 | −0.284% | $92.1M | $530.0M | 75x | as long as short |
| edgeX TAOUSDClong | +0.0165% | 4h | 316.46 | long leg | $42K | $322K | 10x | |
| dYdX TAO-USD | +0.0176% | 1h | 315.51 | −0.301% | $127K | $86K | 5x | as long as short |
| Orderly PERP_TAO_USDC | +0.0209% | 4h | 315.35 | −0.350% | $54K | $299K | 10x | as long as short |
| Bullet TAO-USD | +0.0209% | 1h | 315.41 | −0.330% | $12K | $17K | 20x | as long as short |
| GRVT TAO_USDT_Perp | +0.0220% | 4h | 316.21 | −0.079% | $541K | $877K | 10x | as long as short |
| Bybit TAOUSDT | +0.0230% | 4h | 315.61 | −0.268% | $69.5M | $155.7M | 50x | as long as short |
| Bulk TAO-USD | +0.0233% | 1h | 316.19 | −0.085% | $168K | $0 | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0239% | 8h | 315.74 | −0.226% | $14K | $876 | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0254% | 1h | 316.32 | −0.044% | $45K | $257K | 50x | as long as short |
| Aster TAOUSDT | +0.0317% | 4h | 315.59 | −0.275% | $1.2M | $11.1M | 50x | as long as short |
| BingX TAO-USDT | +0.0328% | 4h | 315.53 | −0.293% | — | $37.4M | — | as long as short |
| Pacifica TAO | +0.0349% | 1h | 315.93 | −0.167% | $370K | $442K | 10x | as long as short |
| Extended TAO-USD | +0.0360% | 1h | 315.20 | −0.397% | $894K | $2.4M | 25x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0361% / S −0.0107% | 1h | 315.92 | −0.171% | $371K | — | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0383% | 1h | 315.33 | −0.356% | $15K | $1.9M | 25x | as long as short |
| BloFin TAO-USDT | +0.0394% | 4h | 315.60 | −0.271% | $4.7M | $10.8M | 100x | as long as short |
| Arcus TAO-USD | +0.0404% | 1h | 315.83 | −0.198% | $99K | $371K | 5x | as long as short |
| Hyperliquid TAO | +0.0468% | 1h | 315.68 | −0.247% | $93.0M | $110.3M | 5x | as long as short |
| Nado TAO-PERP | +0.0525% | 1h | 315.23 | −0.387% | $765K | $2.0M | 10x | as long as short |
| Phoenix TAO | +0.0578% | 1h | 316.80 | +0.108% | $319K | $714K | 5x | as long as short |
| Variational Omni TAO | +0.0602% | 4h | 315.71 | −0.235% | $5.6M | $10.1M | — | as long as short |
| Lighter TAO | +0.0608% | 1h | 315.77 | −0.216% | $1.6M | $6.6M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0616% | 1h | 315.70 | −0.240% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0698% | 1h | 315.13 | −0.421% | $362 | — | 20x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0701% | 1h | 315.57 | −0.281% | $315K | $1.0M | 10x | |
| Kraken Futures PF_TAOUSD | +0.0789% | 1h | 315.61 | −0.267% | $6.0M | $21.3M | 50x | as long as short |
| RISEx TAO/USDC | +0.0840% | 1h | 315.76 | −0.220% | $437K | $679K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 315.62 | −0.265% | $1.2M | $7.2M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.3512% | 1h | 319.36 | +0.917% | $23K | $2K | 12x | as long as short |
Phemex TAOUSDT
Aevo TAO-PERP
MEXC TAO_USDT
Binance TAOUSDT
dYdX TAO-USD
Orderly PERP_TAO_USDC
Bullet TAO-USD
GRVT TAO_USDT_Perp
Bybit TAOUSDT
Bulk TAO-USD
Paradex TAO-USD-PERP
ApeX Omni TAOUSDT
Aster TAOUSDT
BingX TAO-USDT
Pacifica TAO
Extended TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
Arcus TAO-USD
Hyperliquid TAO
Nado TAO-PERP
Phoenix TAO
Variational Omni TAO
Lighter TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP