TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0458%/8h= +50.2% APRnext payment +$0.57 per $10,000 · paid last 24h −0.572%

Price spread now: Backpack against Injective−1.535%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−3.356%−$336 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Backpack is 1.535% cheaper against Injective than usual: you would sell low and buy high (spread −1.535% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$153 on $10k: about 11 days of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −3.356%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TAO/USDC PERP	321.23	0.0470	pay 0.0059% / 1h	7m 04s	$23K	$2K	12x
Short	Backpack TAO_USDC_PERP	316.30	0.0928	get 0.0116% / 1h	7m 04s	$320K	$809K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee BackpackbpOrdersPrice spread, now −1.535%Rate

Funding earned: $96.2
Price spread: −1.535% → 0.000%: −$153.47
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$67.29
Costs to cover: 0.100%
Break-even: 11.9 days

Slippage unknown: Injective: no order-book sample; Backpack: live order book, 62 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 62 min ago	0.16 bp	13.4 bp −$13	26.0 bp −$260	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TAO on 42 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	316.03	−1.619%	$126K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.19	−1.570%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.91	−1.656%	$43K	$642K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.12	−1.591%	$91.3M	$468.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.10	−1.597%	$26.3M	$114.5M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.28	−1.852%	$167K	$40K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.80	−1.690%	$12.9M	$50.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	315.97	−1.637%	$113.5M	$140.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.50	−1.472%	$18.1M	$30.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.00	−1.628%	$35.3M	$53.5M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	315.52	−1.776%	$35K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.25	−1.550%	$83K	$696K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	316.52	−1.466%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.35	−1.519%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	316.10	−1.597%	$129K	$472K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.09	−1.600%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.93	−1.337%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0118%	8h	315.77	−1.700%	$4K	$725K	5x	as long as short
ApeX Omni TAOUSDT	+0.0140%	1h	315.42	−1.809%	$47K	$252K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0167%	1h	316.62	−1.434%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0167% / S +0.0102%	1h	316.24	−1.553%	$429K	—	100x	as long as short
GRVT TAO_USDT_Perp	+0.0188%	4h	314.95	−1.956%	$519K	$957K	10x	as long as short
Bullet TAO-USD	+0.0249%	1h	316.64	−1.429%	$12K	$18K	20x	as long as short
Aster TAOUSDT	+0.0262%	4h	316.37	−1.513%	$1.2M	$9.3M	50x	as long as short
Pacifica TAO	+0.0285%	1h	316.28	−1.541%	$368K	$396K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	316.43	−1.494%	$99K	$489K	5x	as long as short
Paradex TAO-USD-PERP	+0.0372%	8h	316.20	−1.567%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERPlong	+0.0470%	1h	321.23	long leg	$23K	$2K	12x
Deribit TAO_USDC-PERPETUAL	+0.0501%	1h	316.70	−1.410%	$15K	$1.6M	25x	as long as short
Nado TAO-PERP	+0.0536%	1h	316.11	−1.594%	$756K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	315.80	−1.690%	$330K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	316.30	−1.535%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.39	−1.505%	$364	—	20x	as long as short
BingX TAO-USDT	+0.0768%	4h	316.08	−1.603%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0788%	4h	316.07	−1.606%	$67.0M	$138.3M	50x	as long as short
Variational Omni TAO	+0.0861%	4h	319.57	−0.515%	$6.1M	$9.4M	—	as long as short
Backpack TAO_USDC_PERPshort	+0.0928%	1h	316.30	−1.535%	$320K	$809K	10x
Extended TAO-USD	+0.0928%	1h	316.69	−1.415%	$907K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.17	−1.264%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	316.18	−1.572%	$450K	$622K	5x	as long as short
Hyperliquid TAO	+0.1357%	1h	316.51	−1.469%	$99.5M	$96.9M	5x	as long as short
Lighter TAO	+0.1376%	1h	316.49	−1.474%	$1.6M	$6.1M	5x	as long as short