Funding you earn now, next payment 00:00 UTC−0.0339%/8h= −37.2% APRnext payment −$0.42 per $10,000 · paid last 24h +0.005%
Price spread now: Backpack against Extended−0.146%7-day average +0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$260.259% of the position
Funding, last 7 days−0.054%−$5 on $10k
+Price spread, last 4 days (all we have)+0.271%+$27 · spread now −0.146%, 7d avg +0.091%
=Together, before fees+0.217%+ Points / potential airdropExtended: Active · farm board+$22 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Backpack is 0.237% cheaper against Extended than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.091%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.054% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 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 | Extended TAO-USD | 313.78 | 0.0880 | pay 0.0110% / 1h | 31m 04s | $864K | $2.1M | 25x |
| Short | Backpack TAO_USDC_PERP | 313.32 | 0.0541 | get 0.0068% / 1h | 31m 04s | $297K | $801K | 10x |
Extended TAO-USD
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Extended. 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
- −$71.29
- Price spread: −0.146% → +0.091%
- −$23.69
- Slippage, 4 orders
- −$10.95
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$120.93
- Costs to cover
- 0.259%
- Break-even
- never at this rate
Slippage from Extended: live order book, 3 min ago; Backpack: live order book, 48 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 Extended live order book, 3 min ago | 3.33 bp | 5.8 bp −$6 | 7.5 bp −$75 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 48 min ago | 1.96 bp | 7.3 bp −$7 | 20.8 bp −$208 | 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-USD | −0.4478% | 1h | 313.97 | +0.061% | $168K | $48K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 313.81 | +0.009% | $125K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 313.68 | −0.031% | $21K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 314.95 | +0.374% | $23K | $361 | 12x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 314.05 | +0.087% | $34K | $564K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 314.08 | +0.097% | $372K | $369K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.01 | −0.245% | $88.9M | $426.2M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 313.37 | −0.130% | $61.5M | $124.8M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 313.00 | −0.248% | $25.2M | $101.3M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 313.00 | −0.248% | $12.7M | $49.6M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Injective TAO/USDC PERP
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
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 | 313.26 | −0.165% | $110.2M | $129.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.26 | −0.165% | $18.8M | $27.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 312.98 | −0.254% | $34.9M | $46.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 313.14 | −0.203% | — | $30.2M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.36 | +0.503% | $41K | $281K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 315.48 | +0.544% | $523K | $956K | 10x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 313.79 | +0.004% | $11K | $17K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 313.85 | +0.023% | $60K | $275K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.69 | −0.028% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 313.91 | +0.042% | $127K | $400K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 313.19 | −0.187% | $3.3M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.06 | +0.088% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 314.09 | +0.100% | $1K | $549K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0124% | 1h | 313.92 | +0.045% | $77K | $489K | 5x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 314.30 | +0.166% | $83K | $606K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0192% | 1h | 315.38 | +0.511% | $47K | $267K | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0195% | 8h | 314.10 | +0.103% | $14K | $1K | 10x | as long as short |
| Variational Omni TAO | +0.0200% | 4h | 313.88 | +0.032% | $4.0M | $7.0M | — | as long as short |
| Aster TAOUSDT | +0.0206% | 4h | 313.77 | −0.003% | $1.1M | $7.9M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0233% | 1h | 313.88 | +0.031% | $25K | $1.5M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 314.21 | +0.138% | $4.3M | $10.5M | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0448% | 1h | 313.79 | +0.005% | $5.7M | $19.9M | 50x | as long as short |
| Nado TAO-PERP | +0.0455% | 1h | 313.94 | +0.051% | $830K | $2.0M | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0476% / S −0.0175% | 1h | 313.64 | −0.044% | $450K | — | 100x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 315.20 | +0.453% | $330K | $521K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0541% | 1h | 313.32 | −0.146% | $297K | $801K | 10x | |
| 01 Exchange TAOUSD | +0.0664% | 1h | 314.24 | +0.147% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 313.67 | −0.035% | $361 | — | 20x | as long as short |
| Extended TAO-USDlong | +0.0880% | 1h | 313.78 | long leg | $864K | $2.1M | 25x | |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 314.94 | +0.370% | $1.5M | $5.8M | 50x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 314.18 | +0.127% | $452K | $560K | 5x | as long as short |
| Lighter TAO | +0.1248% | 1h | 313.92 | +0.044% | $1.6M | $5.8M | 5x | as long as short |
| Hyperliquid TAO | +0.1788% | 1h | 313.76 | −0.006% | $97.8M | $83.7M | 5x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
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
Arcus TAO-USD
ApeX Omni TAOUSDT
Paradex TAO-USD-PERP
Variational Omni TAO
Aster TAOUSDT
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
Kraken Futures PF_TAOUSD
Nado TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO