Settings8H · net · $10k
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Funding arb · Price arb /

TAO

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0249%/8h= +27.3% APRpaid last 24h +0.066%
Price spread now: Backpack against KuCoin+0.073%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$550.551% of the position
Long on KuCoinShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.096%+$10 on $10k
Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.073%, 7d avg +0.040%
Together, before fees+0.025%+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Backpack is 0.033% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.040%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.096% in total (about 5.0% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin TAOUSDTM314.430.0100pay 0.0050% / 4h3h 55m$17.8M$31.7M75x
ShortBackpack TAO_USDC_PERP314.660.0349get 0.0044% / 1h55m 02s$313K$914K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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
$52.27
Price spread: +0.073% → +0.040%
$3.27
Slippage, 4 orders
−$33.1
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Backpack: 5 bp × 2 orders
−$10
Net
$0.44
Costs to cover
0.551%
Break-even
6.9 days
Slippage from KuCoin: live order book, 4 min ago; Backpack: live order book, 64 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 KuCoin live order book, 4 min ago1.75 bp19.8 bp −$2033.4 bp −$334doesn't fitdoesn't fit
Sell Backpack live order book, 64 min ago2.85 bp7.9 bp −$842.9 bp −$429doesn't fitdoesn'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
Kraken Futures PF_TAOUSD−0.0345%1h314.47+0.014%$5.5M$20.6M50xas long as short
Gate TAO_USDT−0.0126%4h314.30−0.041%$13.1M$49.2M50xas long as short
Popdex TAOUSDT−0.0032%1h314.70+0.086%$43K$653K20xas long as short
dYdX TAO-USD0.0000%1h314.25−0.058%$125K$85K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h314.40−0.010%$20K—150xas long as short
Katana Perps TAO-USD+0.0098%8h314.50+0.022%$2K$805K5xas long as short
Pacifica TAO+0.0100%1h314.12−0.099%$358K$412K10xas long as short
Binance TAOUSDT+0.0100%4h314.38−0.016%$90.8M$495.9M75xas long as short
Bybit TAOUSDT+0.0100%4h314.45+0.006%$67.7M$149.2M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h314.30−0.041%$26.0M$120.6M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD+0.0100%1h314.80+0.118%$167K$2K10xas long as short
MEXC TAO_USDT+0.0100%4h314.55+0.038%$101.0M$143.6M300xas long as short
KuCoin TAOUSDTMlong+0.0100%4h314.43long leg$17.8M$31.7M75x
Bitget TAOUSDT+0.0100%4h313.81−0.197%$35.1M$56.5M50xas long as short
BingX TAO-USDT+0.0100%4h314.52+0.029%—$33.0M—as long as short
edgeX TAOUSDC+0.0100%4h314.50+0.024%$42K$312K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h313.64−0.253%$532K$955K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h314.57+0.045%$46K$255K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h314.63+0.064%$78K$863K5xas long as short
Bullet TAO-USD+0.0100%1h314.79+0.114%$12K$18K20xas long as short
SunX TAO-USDT+0.0100%4h314.26−0.054%$1K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h314.11−0.102%$109K$535K20xas long as short
Phemex TAOUSDT+0.0100%4h314.68+0.080%$3.2M$8.1M50xas long as short
Aevo TAO-PERP+0.0104%1h314.24−0.062%$173K$9983xas long as short
Hyperliquid TAO+0.0116%1h314.71+0.089%$92.4M$106.9M5xas long as short
Orderly PERP_TAO_USDC+0.0123%4h314.44+0.003%$52K$271K10xas long as short
Aster TAOUSDT+0.0131%4h314.430.000%$1.2M$10.4M50xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0143% / S +0.0124%1h314.55+0.038%$428K—100xas long as short
Paradex TAO-USD-PERP+0.0145%8h313.92−0.162%$14K$1K10xas long as short
Extended TAO-USD+0.0192%1h314.08−0.111%$918K$2.4M25xas long as short
Nado TAO-PERP+0.0216%1h314.72+0.091%$799K$2.2M10xas long as short
Arcus TAO-USD+0.0231%1h314.76+0.105%$101K$441K5xas long as short
01 Exchange TAOUSD+0.0328%1h314.79+0.114%$3K$4K5xas long as short
BloFin TAO-USDT+0.0340%4h314.51+0.025%$4.6M$10.8M100xas long as short
Backpack TAO_USDC_PERPshort+0.0349%1h314.66+0.073%$313K$914K10x
Variational Omni TAO+0.0362%4h313.70−0.232%$5.6M$9.9M—as long as short
Deribit TAO_USDC-PERPETUAL+0.0366%1h314.59+0.050%$22K$1.7M25xas long as short
Lighter TAO+0.0392%1h314.80+0.117%$1.5M$6.4M5xas long as short
Phoenix TAO+0.0581%1h313.60−0.264%$312K$711K5xas long as short
Reya TAORUSDPERP+0.0697%1h314.71+0.089%$362—20xas long as short
RISEx TAO/USDC+0.0816%1h314.68+0.078%$435K$653K5xas long as short
Coinbase International TAO-PERP-INTX+0.0952%1h314.04−0.124%$1.5M$6.6M50xas long as short
Injective TAO/USDC PERP+0.4092%1h317.67+1.030%$23K$2K12xas long as short