Funding you earn now, next payment 00:00 UTC+0.0434%/8h= +47.5% APRpaid last 24h +0.033%
Price spread now: Backpack against Katana Perps+0.057%7-day average +0.021% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.072%−$7 on $10k
+Price spread, last 4 days (all we have)−0.055%−$6 · spread now +0.057%, 7d avg +0.021%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Backpack is 0.036% dearer against Katana Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.021%. Mind the row above: over the last 4 days funding on this pair cost −0.072%, 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 4 days it paid -0.072% in total (about -7.2% 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 | Katana Perps TAO-USD | 315.77 | 0.0112 | pay 0.0112% / 8h | 1m 51s | $1K | $577K | 5x |
| Short | Backpack TAO_USDC_PERP | 315.95 | 0.0546 | get 0.0068% / 1h | 1m 51s | $314K | $813K | 10x |
Katana Perps TAO-USD
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Katana Perps. 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
- $91.15
- Price spread: +0.057% → +0.021%
- $3.65
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $81
- Costs to cover
- 0.138%
- Break-even
- 0.8 days
Slippage unknown: Katana Perps: no order-book sample; Backpack: live order book, 12 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 Katana Perps no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 12 min ago | 2.57 bp | 7.9 bp −$8 | 128.6 bp −$1,286 | doesn't fit | doesn't fit |
Katana Perps: 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 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 | −0.2086% | 1h | 311.96 | −1.207% | $167K | $47K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 314.75 | −0.323% | $126K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 315.55 | −0.069% | $21K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 315.12 | −0.206% | $23K | $374 | 12x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 315.77 | 0.000% | $39K | $568K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 315.35 | −0.133% | $373K | $363K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 315.35 | −0.133% | $89.5M | $431.5M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 315.54 | −0.073% | $64.9M | $128.1M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.40 | −0.117% | $25.4M | $103.5M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 315.50 | −0.086% | $12.6M | $50.7M | 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 | 315.71 | −0.019% | $111.6M | $132.8M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 315.64 | −0.041% | $18.8M | $28.0M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 315.18 | −0.187% | $35.2M | $47.7M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 315.29 | −0.152% | — | $30.5M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 313.07 | −0.855% | $41K | $281K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 312.90 | −0.910% | $524K | $952K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 312.33 | −1.089% | $47K | $268K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 315.85 | +0.025% | $12K | $17K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 315.72 | −0.016% | $61K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 315.61 | −0.051% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 315.47 | −0.095% | $129K | $422K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 315.87 | +0.032% | $3.4M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 316.23 | +0.147% | $174K | $998 | 3x | as long as short |
| Polymarket Perps TAO-USD | +0.0111% | 1h | 315.94 | +0.054% | $77K | $450K | 5x | as long as short |
| Katana Perps TAO-USDlong | +0.0112% | 8h | 315.77 | long leg | $1K | $577K | 5x | |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0071% | 1h | 315.57 | −0.065% | $450K | — | 100x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 315.76 | −0.003% | $83K | $545K | 5x | as long as short |
| Aster TAOUSDT | +0.0187% | 4h | 315.50 | −0.087% | $1.1M | $7.9M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0198% | 8h | 315.39 | −0.120% | $14K | $1K | 10x | as long as short |
| Variational Omni TAO | +0.0220% | 4h | 312.31 | −1.095% | $3.9M | $7.1M | — | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 315.59 | −0.057% | $4.4M | $10.6M | 100x | as long as short |
| Nado TAO-PERP | +0.0431% | 1h | 315.72 | −0.015% | $857K | $2.0M | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0443% | 1h | 315.89 | +0.039% | $25K | $1.5M | 25x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0444% | 1h | 316.13 | +0.115% | $5.8M | $19.9M | 50x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 315.70 | −0.022% | $330K | $521K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0546% | 1h | 315.95 | +0.057% | $314K | $813K | 10x | |
| 01 Exchange TAOUSD | +0.0592% | 1h | 316.01 | +0.076% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 315.77 | +0.001% | $363 | — | 20x | as long as short |
| Extended TAO-USD | +0.0888% | 1h | 315.64 | −0.042% | $926K | $2.2M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 317.76 | +0.630% | $1.5M | $5.9M | 50x | as long as short |
| Lighter TAO | +0.1192% | 1h | 316.45 | +0.217% | $1.7M | $5.8M | 5x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 315.82 | +0.015% | $418K | $585K | 5x | as long as short |
| Hyperliquid TAO | +0.1589% | 1h | 316.29 | +0.165% | $99.1M | $84.8M | 5x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
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
Polymarket Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Variational Omni TAO
BloFin TAO-USDT
Nado TAO-PERP
Deribit TAO_USDC-PERPETUAL
Kraken Futures PF_TAOUSD
Phoenix TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Lighter TAO
RISEx TAO/USDC
Hyperliquid TAO