Funding you earn now, next payment 22:00 UTC+0.0408%/8h= +44.6% APRnext payment +$0.51 per $10,000 · paid last 24h −0.037%
Price spread now: Backpack against Lighter+0.125%7-day average −0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$460.457% of the position
Funding, last 7 days−0.131%−$13 on $10k
+Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.125%, 7d avg −0.036%
=Together, before fees−0.170%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.161% dearer against Lighter than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.036%. Mind the row above: over the last 7 days funding on this pair cost −0.131%, 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 7 days it paid -0.131% in total (about -6.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 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 | Lighter TAO | 306.89 | 0.0872 | pay 0.0109% / 1h | 34m 56s | $1.6M | $4.8M | 5x |
| Short | Backpack TAO_USDC_PERP | 307.27 | 0.1280 | get 0.0160% / 1h | 34m 56s | $470K | $683K | 10x |
Lighter TAO
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $85.58
- Price spread: +0.125% → −0.036%
- $16.12
- Slippage, 4 orders
- −$35.66
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $56.03
- Costs to cover
- 0.457%
- Break-even
- 2.4 days
Slippage from Lighter: live order book, 3 min ago; Backpack: live order book, 54 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 Lighter live order book, 3 min ago | 2.35 bp | 6.3 bp −$6 | 22.2 bp −$222 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 54 min ago | 0.64 bp | 9.0 bp −$9 | 13.3 bp −$133 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 306.36 | −0.172% | $129K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 306.17 | −0.235% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 306.52 | −0.119% | $41K | $524K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 306.50 | −0.126% | $362K | $400K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 307.16 | +0.090% | $86.2M | $401.5M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 307.37 | +0.158% | $59.2M | $117.4M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 307.20 | +0.102% | $25.0M | $92.6M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 306.77 | −0.038% | $137K | $593K | 5x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 306.60 | −0.093% | $12.1M | $47.7M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 306.84 | −0.015% | $113.0M | $122.6M | 300x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
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 | 306.71 | −0.057% | $18.5M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 307.03 | +0.047% | $34.4M | $44.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 306.85 | −0.012% | — | $30.4M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 305.77 | −0.364% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 305.09 | −0.587% | $39K | $276K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.96 | −0.303% | $536K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 305.64 | −0.406% | $46K | $268K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 306.28 | −0.197% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 306.37 | −0.168% | $59K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 306.34 | −0.178% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 306.04 | −0.276% | $120K | $351K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 306.57 | −0.103% | $3.2M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 306.42 | −0.153% | $168K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0113% | 8h | 306.54 | −0.113% | $876 | $428K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0123% | 1h | 306.64 | −0.080% | $85K | $668K | 5x | as long as short |
| Aster TAOUSDT | +0.0140% | 4h | 306.60 | −0.094% | $1.1M | $7.5M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0166% | 8h | 306.55 | −0.110% | $14K | $992 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 306.17 | −0.233% | $437K | — | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0206% | 1h | 306.49 | −0.128% | $14K | $1.3M | 25x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 306.20 | −0.224% | $324K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0253% | 1h | 306.46 | −0.137% | $849K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 306.55 | −0.109% | $4.3M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0512% | 1h | 306.95 | +0.021% | $3K | $4K | 5x | as long as short |
| Bulk TAO-USD | +0.0668% | 1h | 304.81 | −0.676% | $200K | $57K | 10x | as long as short |
| Extended TAO-USD | +0.0688% | 1h | 307.14 | +0.083% | $877K | $1.9M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 306.34 | −0.178% | $352 | — | 20x | as long as short |
| Lighter TAOlong | +0.0872% | 1h | 306.89 | long leg | $1.6M | $4.8M | 5x | |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 307.40 | +0.167% | $1.5M | $5.4M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1028% | 1h | 306.75 | −0.044% | $6.3M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 306.68 | −0.067% | $411K | $537K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.1280% | 1h | 307.27 | +0.125% | $470K | $683K | 10x | |
| Hyperliquid TAO | +0.1669% | 1h | 307.47 | +0.190% | $93.6M | $75.6M | 5x | as long as short |
| Injective TAO/USDC PERP | +0.4876% | 1h | 308.62 | +0.565% | $22K | $138 | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
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
Katana Perps TAO-USD
Polymarket Perps TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
GMX TAO/USD [WBTC.b-USDC]
Deribit TAO_USDC-PERPETUAL
Phoenix TAO
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Bulk TAO-USD
Extended TAO-USD
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Hyperliquid TAO
Injective TAO/USDC PERP