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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC−0.0925%/8h= −101.3% APRpaid last 24h −0.145%
Price spread now: Bitget against Kraken Futures−0.142%7-day average −0.082% · you buy dearer than you sell
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$550.547% of the position
Long on Kraken FuturesShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days−0.163%−$16 on $10k
Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.142%, 7d avg −0.082%
Together, before fees−0.138%−$14 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Bitget is 0.060% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.082%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.163% in total (about -8.5% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_TAOUSD307.540.1025pay 0.0128% / 1h24m 21s$6.3M$19.3M50x
ShortBitget TAOUSDT307.100.0100get 0.0050% / 4h2h 24m$34.4M$44.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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

Funding earned
−$194.25
Price spread: −0.142% → −0.082%
−$6
Slippage, 4 orders
−$32.68
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$254.93
Costs to cover
0.547%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Bitget: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 5 min ago8.33 bp16.7 bp −$1746.8 bp −$468362.9 bp −$36.3Kdoesn't fit
Sell Bitget live order book, 5 min ago1.64 bp11.7 bp −$1219.9 bp −$19942.7 bp −$4,272doesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX TAO-USD0.0000%1h306.93−0.197%$129K$84K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0006%1h307.17−0.120%$26K—150xas long as short
Deribit TAO_USDC-PERPETUAL+0.0007%1h307.32−0.069%$15K$1.3M25xas long as short
Popdex TAOUSDT+0.0096%1h307.03−0.165%$42K$526K20xas long as short
Pacifica TAO+0.0100%1h307.21−0.106%$363K$401K10xas long as short
Binance TAOUSDT+0.0100%4h307.25−0.093%$85.8M$403.6M75xas long as short
Bybit TAOUSDT+0.0100%4h307.28−0.083%$59.3M$118.3M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h307.40−0.044%$25.4M$93.2M50xas long as short
Arcus TAO-USD+0.0100%1h307.51−0.008%$137K$598K5xas long as short
Bulk TAO-USD+0.0100%1h307.07−0.152%$201K$57K10xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate TAO_USDT+0.0100%4h307.10−0.142%$12.2M$48.1M50xas long as short
MEXC TAO_USDT+0.0100%4h307.11−0.139%$114.1M$123.8M300xas long as short
KuCoin TAOUSDTM+0.0100%4h307.06−0.155%$18.5M$26.4M75xas long as short
Bitget TAOUSDTshort+0.0100%4h307.10−0.142%$34.4M$44.4M50x
BingX TAO-USDT+0.0100%4h307.29−0.080%—$30.5M—as long as short
Variational Omni TAO+0.0100%4h305.90−0.532%$3.6M$6.5M—as long as short
edgeX TAOUSDC+0.0100%4h305.13−0.784%$39K$276K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h305.16−0.774%$535K$967K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h304.90−0.857%$46K$267K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h307.37−0.054%$77K$675K5xas long as short
Bullet TAO-USD+0.0100%1h307.22−0.103%$11K$18K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h307.22−0.103%$59K$276K10xas long as short
SunX TAO-USDT+0.0100%4h307.15−0.125%$1K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h307.25−0.093%$121K$353K20xas long as short
Phemex TAOUSDT+0.0100%4h306.76−0.252%$3.3M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h307.72+0.059%$169K$9983xas long as short
Katana Perps TAO-USD+0.0112%8h307.10−0.142%$1K$437K5xas long as short
Aster TAOUSDT+0.0162%4h307.26−0.090%$1.1M$7.5M50xas long as short
Paradex TAO-USD-PERP+0.0165%8h307.10−0.141%$14K$1K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0069%1h307.10−0.141%$438K—100xas long as short
Phoenix TAO+0.0234%1h305.60−0.630%$324K$462K5xas long as short
Nado TAO-PERP+0.0297%1h307.02−0.167%$840K$1.9M10xas long as short
BloFin TAO-USDT+0.0340%4h306.84−0.226%$4.3M$9.4M100xas long as short
01 Exchange TAOUSD+0.0520%1h307.39−0.047%$3K$4K5xas long as short
Reya TAORUSDPERP+0.0694%1h307.32−0.070%$353—20xas long as short
Extended TAO-USD+0.0696%1h307.29−0.079%$902K$2.0M25xas long as short
Lighter TAO+0.0920%1h307.46−0.025%$1.7M$4.8M5xas long as short
Coinbase International TAO-PERP-INTX+0.0960%1h308.04+0.164%$1.5M$5.4M50xas long as short
Kraken Futures PF_TAOUSDlong+0.1025%1h307.54long leg$6.3M$19.3M50x
RISEx TAO/USDC+0.1053%1h307.23−0.099%$414K$537K5xas long as short
Backpack TAO_USDC_PERP+0.1157%1h307.02−0.168%$443K$715K10xas long as short
Hyperliquid TAO+0.1732%1h307.79+0.083%$94.2M$75.7M5xas long as short
Injective TAO/USDC PERP+0.4876%1h305.96−0.512%$22K$17112xas long as short