Funding you earn now, next payment 09:00 UTC−0.0522%/8h= −57.2% APRpaid last 24h −0.091%
Price spread now: Orderly against Kraken Futures+0.044%7-day average −0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.346%−$35 on $10k
+Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.044%, 7d avg −0.040%
=The price spread pays, funding is against you. Orderly is 0.084% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of −0.040%): +$8 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.346% in total) that is about 41 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.346% in total (about -18.0% 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 | Kraken Futures PF_TAOUSD | 324.32 | 0.0767 | pay 0.0096% / 1h | 59m 35s | $6.3M | $21.0M | 50x |
| Short | Orderly PERP_TAO_USDC | 324.46 | 0.0245 | get 0.0123% / 4h | 2h 59m | $55K | $272K | 10x |
Kraken Futures PF_TAOUSD
Orderly PERP_TAO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$109.69
- Price spread: +0.044% → −0.040%
- $8.38
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$117.31
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 4 min ago; Orderly: no order-book sample. 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 Kraken Futures live order book, 4 min ago | 6.49 bp | 14.0 bp −$14 | 24.1 bp −$241 | 81.9 bp −$8,193 | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.0241% | 1h | 318.85 | −1.687% | $169K | $0 | 10x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 324.21 | −0.034% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 323.48 | −0.258% | $52K | $704K | 20x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 323.38 | −0.289% | $71.2M | $155.0M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 323.20 | −0.345% | $27.0M | $131.4M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 323.00 | −0.406% | $15.4M | $47.8M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 323.80 | −0.160% | $17.7M | $32.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 322.91 | −0.434% | $36.5M | $56.7M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 323.32 | −0.308% | $89K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 324.04 | −0.086% | $2K | $1.9M | 20x | as long as short |
Bulk TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TAO-USDT | +0.0100% | 4h | 324.34 | +0.007% | $117K | $552K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 324.09 | −0.070% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0116% | 8h | 323.25 | −0.329% | $661 | $1.2M | 5x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 324.43 | +0.036% | $178K | $998 | 3x | as long as short |
| edgeX TAOUSDC | +0.0156% | 4h | 323.71 | −0.188% | $43K | $323K | 10x | as long as short |
| MEXC TAO_USDT | +0.0158% | 4h | 323.38 | −0.289% | $106.0M | $148.4M | 300x | as long as short |
| BingX TAO-USDT | +0.0158% | 4h | 323.27 | −0.323% | — | $39.0M | — | as long as short |
| Binance TAOUSDT | +0.0158% | 4h | 323.41 | −0.280% | $95.2M | $519.6M | 75x | as long as short |
| Paradex TAO-USD-PERP | +0.0224% | 8h | 323.27 | −0.325% | $15K | $876 | 10x | as long as short |
| Orderly PERP_TAO_USDCshort | +0.0245% | 4h | 324.46 | +0.044% | $55K | $272K | 10x | |
| Extended TAO-USD | +0.0280% | 1h | 323.27 | −0.325% | $979K | $2.2M | 25x | as long as short |
| Bullet TAO-USD | +0.0284% | 1h | 324.64 | +0.099% | $13K | $17K | 20x | as long as short |
| GRVT TAO_USDT_Perp | +0.0304% | 4h | 323.87 | −0.139% | $550K | $826K | 10x | as long as short |
| Aster TAOUSDT | +0.0327% | 4h | 323.40 | −0.283% | $1.3M | $11.2M | 50x | as long as short |
| Pacifica TAO | +0.0349% | 1h | 323.68 | −0.196% | $377K | $439K | 10x | as long as short |
| Arcus TAO-USD | +0.0364% | 1h | 323.71 | −0.187% | $102K | $329K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0369% / S −0.0109% | 1h | 323.08 | −0.382% | $383K | — | 100x | as long as short |
| ApeX Omni TAOUSDT | +0.0392% | 1h | 323.88 | −0.135% | $46K | $256K | 50x | as long as short |
| BloFin TAO-USDT | +0.0399% | 4h | 323.57 | −0.231% | $4.8M | $11.0M | 100x | as long as short |
| Variational Omni TAO | +0.0522% | 4h | 323.77 | −0.170% | $5.7M | $9.8M | — | as long as short |
| Lighter TAO | +0.0560% | 1h | 323.56 | −0.235% | $1.6M | $6.6M | 5x | as long as short |
| dYdX TAO-USD | +0.0562% | 1h | 323.11 | −0.372% | $272K | $232K | 5x | as long as short |
| Phoenix TAO | +0.0578% | 1h | 324.30 | −0.005% | $326K | $705K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 323.21 | −0.341% | $372 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0701% | 1h | 323.16 | −0.356% | $444K | $713K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0713% | 1h | 324.35 | +0.010% | $302K | $1.1M | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0737% | 1h | 324.40 | +0.025% | $20K | $1.9M | 25x | as long as short |
| Nado TAO-PERP | +0.0765% | 1h | 323.47 | −0.261% | $735K | $2.0M | 10x | as long as short |
| Kraken Futures PF_TAOUSDlong | +0.0767% | 1h | 324.32 | long leg | $6.3M | $21.0M | 50x | |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 324.68 | +0.112% | $1.1M | $7.5M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.1000% | 1h | 323.76 | −0.172% | $3K | $4K | 5x | as long as short |
| Hyperliquid TAO | +0.1002% | 1h | 323.52 | −0.246% | $97.7M | $109.9M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.3512% | 1h | 322.62 | −0.524% | $23K | $2K | 12x | as long as short |
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
Aevo TAO-PERP
edgeX TAOUSDC
MEXC TAO_USDT
BingX TAO-USDT
Binance TAOUSDT
Paradex TAO-USD-PERP
Extended TAO-USD
Bullet TAO-USD
GRVT TAO_USDT_Perp
Aster TAOUSDT
Pacifica TAO
Arcus TAO-USD
GMX TAO/USD [WBTC.b-USDC]
ApeX Omni TAOUSDT
BloFin TAO-USDT
Variational Omni TAO
Lighter TAO
dYdX TAO-USD
Phoenix TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Backpack TAO_USDC_PERP
Deribit TAO_USDC-PERPETUAL
Nado TAO-PERP
Coinbase International TAO-PERP-INTX
01 Exchange TAOUSD
Hyperliquid TAO
Injective TAO/USDC PERP