Funding you earn now, next payment 01:00 UTC−0.1805%/8h= −197.7% APRnext payment −$2.26 per $10,000 · paid last 24h −0.432%
Price spread now: Bulk against Kraken Futures+0.927%7-day average −0.169% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$76as in the Price arb table
costs, in and out, $10k−$330.332% of the position
Funding, last 3 days (all we have)−0.551%−$55 on $10k
+Price spread, last 3 days (all we have)−1.255%−$125 · spread now +0.927%, 7d avg −0.169%
=The price spread pays, funding is against you. Bulk is 1.096% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.927% now, against its 7-day average of −0.169%): +$110 on $10k if it goes back. Holding the pair costs −$54 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 3 days (−0.551% in total) that is about 6.8 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.551% in total (about -58.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.26 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 | Kraken Futures PF_TAOUSD | 316.90 | 0.0484 | pay 0.0060% / 1h | 37m 29s | $5.7M | $20.3M | 50x |
| Short | Bulk TAO-USD | 319.84 | −0.1322 | pay 0.0165% / 1h | 37m 29s | $170K | $44K | 10x |
Kraken Futures PF_TAOUSD
Bulk TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$379.15
- Price spread: +0.927% → −0.169%
- $109.61
- Slippage, 4 orders
- −$16.19
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$302.74
- Costs to cover
- 0.332%
- Break-even
- from the start
Slippage from Kraken Futures: live order book, 2 min ago; Bulk: live order book, 36 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 Kraken Futures live order book, 2 min ago | 4.73 bp | 9.9 bp −$10 | 30.9 bp −$309 | 92.6 bp −$9,255 | doesn't fit |
| Sell Bulk live order book, 36 min ago | 0.16 bp | 4.6 bp −$5 | 11.3 bp −$113 | 21.0 bp −$2,098 | 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-USDshort | −0.1322% | 1h | 319.84 | +0.927% | $170K | $44K | 10x | |
| Phemex TAOUSDT | −0.0733% | 4h | 316.88 | −0.007% | $3.4M | $7.9M | 50x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 317.69 | +0.249% | $127K | $88K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | 0.0000% | 1h | 316.82 | −0.027% | $20K | $1.5M | 25x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 316.79 | −0.036% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 319.61 | +0.854% | $43K | $585K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 319.44 | +0.799% | $92.4M | $444.8M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.40 | +0.788% | $26.1M | $108.3M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.30 | +0.441% | $12.9M | $50.3M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 319.60 | +0.851% | $107.1M | $133.8M | 300x | as long as short |
Phemex TAOUSDT
dYdX TAO-USD
Deribit TAO_USDC-PERPETUAL
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.37 | +0.778% | $18.3M | $29.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 319.31 | +0.759% | $35.6M | $49.9M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 318.20 | +0.410% | $40K | $292K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 316.52 | −0.120% | $524K | $960K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 316.74 | −0.052% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 316.71 | −0.061% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 317.64 | +0.232% | $127K | $424K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 317.09 | +0.058% | $174K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0125% | 8h | 319.45 | +0.804% | $2K | $614K | 5x | as long as short |
| Bullet TAO-USD | +0.0166% | 1h | 319.62 | +0.858% | $12K | $18K | 20x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0089% | 1h | 316.80 | −0.033% | $460K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 318.30 | +0.442% | $377K | $374K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0192% | 1h | 318.59 | +0.532% | $48K | $266K | 50x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 319.68 | +0.876% | $85K | $545K | 5x | as long as short |
| Aster TAOUSDT | +0.0209% | 4h | 317.76 | +0.269% | $1.1M | $8.2M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0233% | 8h | 318.61 | +0.538% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0306% | 1h | 319.58 | +0.845% | $94K | $638K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 317.00 | +0.030% | $4.5M | $10.8M | 100x | as long as short |
| Bybit TAOUSDT | +0.0364% | 4h | 319.58 | +0.845% | $65.7M | $131.9M | 50x | as long as short |
| Variational Omni TAO | +0.0378% | 4h | 321.33 | +1.395% | $5.6M | $8.6M | — | as long as short |
| BingX TAO-USDT | +0.0478% | 4h | 318.66 | +0.554% | — | $30.5M | — | as long as short |
| Kraken Futures PF_TAOUSDlong | +0.0484% | 1h | 316.90 | long leg | $5.7M | $20.3M | 50x | |
| Phoenix TAO | +0.0525% | 1h | 317.50 | +0.188% | $332K | $624K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 319.59 | +0.848% | $23K | $653 | 12x | as long as short |
| 01 Exchange TAOUSD | +0.0672% | 1h | 319.79 | +0.911% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 319.50 | +0.820% | $367 | — | 20x | as long as short |
| Nado TAO-PERP | +0.0780% | 1h | 319.50 | +0.820% | $893K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0862% | 1h | 317.24 | +0.106% | $321K | $819K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 317.03 | +0.040% | $1.5M | $6.1M | 50x | as long as short |
| Extended TAO-USD | +0.1088% | 1h | 318.81 | +0.602% | $929K | $2.2M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 319.54 | +0.832% | $423K | $595K | 5x | as long as short |
| Lighter TAO | +0.1536% | 1h | 318.47 | +0.494% | $1.7M | $5.9M | 5x | as long as short |
| Hyperliquid TAO | +0.2462% | 1h | 319.91 | +0.949% | $103.4M | $90.6M | 5x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Katana Perps TAO-USD
Bullet TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
ApeX Omni TAOUSDT
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Polymarket Perps TAO-USD
BloFin TAO-USDT
Bybit TAOUSDT
Variational Omni TAO
BingX TAO-USDT
Phoenix TAO
Injective TAO/USDC PERP
01 Exchange TAOUSD
Reya TAORUSDPERP
Nado TAO-PERP
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO