Funding you earn now, next payment 01:00 UTC+0.0756%/8h= +82.8% APRpaid last 24h +0.059%
Price spread now: Backpack against GRVT+0.117%7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$380.376% of the position
Funding, last 7 days+0.061%+$6 on $10k
+Price spread, last 3 days (all we have)−0.206%−$21 · spread now +0.117%, 7d avg +0.038%
=Together, before fees−0.145%+ Points / potential airdropGRVT: Active · farm board−$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Backpack is 0.079% dearer against GRVT than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.038%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% 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 | GRVT TAO_USDT_Perp | 321.55 | 0.0210 | pay 0.0105% / 4h | 3h 41m | $533K | $958K | 10x |
| Short | Backpack TAO_USDC_PERP | 321.93 | 0.0966 | get 0.0121% / 1h | 41m 31s | $324K | $820K | 10x |
GRVT TAO_USDT_Perp
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GRVT. 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
- $158.78
- Price spread: +0.117% → +0.038%
- $7.91
- Slippage, 4 orders
- −$18.57
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $129.12
- Costs to cover
- 0.376%
- Break-even
- 1.3 days
Slippage from GRVT: live order book, 31 min ago; Backpack: live order book, 32 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 GRVT live order book, 31 min ago | 6.56 bp | 11.1 bp −$11 | 14.1 bp −$141 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 32 min ago | 2.57 bp | 7.9 bp −$8 | 128.6 bp −$1,286 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex TAOUSDT | −0.1204% | 4h | 321.63 | +0.023% | $3.5M | $7.9M | 50x | as long as short |
| Bulk TAO-USD | −0.0882% | 1h | 320.07 | −0.462% | $170K | $44K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 320.53 | −0.319% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 321.55 | −0.001% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 320.40 | −0.359% | $41K | $584K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 320.39 | −0.362% | $92.7M | $442.7M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 320.20 | −0.421% | $26.2M | $107.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 320.40 | −0.359% | $13.0M | $50.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 320.44 | −0.347% | $107.2M | $132.8M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 320.53 | −0.319% | $18.7M | $28.5M | 75x | as long as short |
Phemex TAOUSDT
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTMShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 320.33 | −0.381% | $35.7M | $49.5M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 322.03 | +0.148% | $37K | $287K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 320.32 | −0.384% | $49K | $269K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 321.84 | +0.089% | $58K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 321.70 | +0.045% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 321.84 | +0.089% | $128K | $423K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0101% | 8h | 320.43 | −0.350% | $656 | $605K | 5x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 322.19 | +0.198% | $177K | $998 | 3x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0089% | 1h | 321.56 | +0.002% | $467K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 320.67 | −0.275% | $380K | $373K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 320.79 | −0.238% | $85K | $545K | 5x | as long as short |
| GRVT TAO_USDT_Perplong | +0.0210% | 4h | 321.55 | long leg | $533K | $958K | 10x | |
| Bullet TAO-USD | +0.0218% | 1h | 321.86 | +0.094% | $12K | $18K | 20x | as long as short |
| Paradex TAO-USD-PERP | +0.0238% | 8h | 320.43 | −0.350% | $15K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0254% | 4h | 321.28 | −0.086% | $1.1M | $8.1M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0286% | 1h | 321.83 | +0.086% | $23K | $1.5M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 322.28 | +0.226% | $4.5M | $10.9M | 100x | as long as short |
| Variational Omni TAO | +0.0341% | 4h | 319.24 | −0.720% | $5.5M | $8.6M | — | as long as short |
| Polymarket Perps TAO-USD | +0.0403% | 1h | 321.80 | +0.076% | $95K | $637K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0476% | 1h | 321.75 | +0.060% | $5.8M | $20.3M | 50x | as long as short |
| Bybit TAOUSDT | +0.0521% | 4h | 320.48 | −0.334% | $66.2M | $130.9M | 50x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 319.70 | −0.577% | $335K | $624K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 320.76 | −0.247% | $23K | $651 | 12x | as long as short |
| BingX TAO-USDT | +0.0680% | 4h | 320.45 | −0.344% | — | $30.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 321.63 | +0.024% | $370 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0736% | 1h | 320.45 | −0.344% | $3K | $4K | 5x | as long as short |
| Nado TAO-PERP | +0.0770% | 1h | 320.23 | −0.410% | $890K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0966% | 1h | 321.93 | +0.117% | $324K | $820K | 10x | |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 322.30 | +0.232% | $1.5M | $6.1M | 50x | as long as short |
| Extended TAO-USD | +0.1112% | 1h | 320.46 | −0.342% | $943K | $2.2M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 320.41 | −0.355% | $424K | $595K | 5x | as long as short |
| Lighter TAO | +0.1552% | 1h | 321.06 | −0.153% | $1.7M | $5.9M | 5x | as long as short |
| Hyperliquid TAO | +0.2743% | 1h | 322.01 | +0.142% | $104.7M | $90.0M | 5x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Katana Perps TAO-USD
Aevo TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Arcus TAO-USD
Bullet TAO-USD
Paradex TAO-USD-PERP
Aster TAOUSDT
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
Variational Omni TAO
Polymarket Perps TAO-USD
Kraken Futures PF_TAOUSD
Bybit TAOUSDT
Phoenix TAO
Injective TAO/USDC PERP
BingX TAO-USDT
Reya TAORUSDPERP
01 Exchange TAOUSD
Nado TAO-PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO