Funding you earn now, next payment 01:00 UTC+0.0802%/8h= +87.8% APRpaid last 24h +0.039%
Price spread now: Backpack against MEXC−0.472%7-day average +0.045% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$200.202% of the position
Funding, last 7 days+0.087%+$9 on $10k
+Price spread, last 4 days (all we have)+0.467%+$47 · spread now −0.472%, 7d avg +0.045%
=Funding pays, the price is against you. Backpack is 0.517% cheaper against MEXC than usual: you would sell low and buy high (spread −0.472% now, against its 7-day average of +0.045%). If the spread goes back, that is −$52 on $10k: about 2.1 days of funding at the current rate (+$24 a day). At the pace of the last 7 days (+0.087% in total) that is about 41 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.087% in total (about 4.6% 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 | MEXC TAO_USDT | 320.14 | 0.0100 | pay 0.0050% / 4h | 3h 40m | $107.2M | $133.2M | 300x |
| Short | Backpack TAO_USDC_PERP | 318.63 | 0.0902 | get 0.0113% / 1h | 40m 03s | $321K | $820K | 10x |
MEXC TAO_USDT
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. 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
- $168.46
- Price spread: −0.472% → +0.045%
- −$51.69
- Slippage, 4 orders
- −$10.16
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $96.61
- Costs to cover
- 0.202%
- Break-even
- 3.0 days
Slippage from MEXC: live order book, 4 min ago; Backpack: live order book, 34 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 MEXC live order book, 4 min ago | 0.47 bp | 2.3 bp −$2 | 8.1 bp −$81 | 28.3 bp −$2,830 | 115.7 bp −$57.8K |
| Sell Backpack live order book, 34 min ago | 2.57 bp | 7.9 bp −$8 | 128.6 bp −$1,286 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.0882% | 1h | 320.07 | −0.022% | $170K | $44K | 10x | as long as short |
| Phemex TAOUSDT | −0.0598% | 4h | 318.58 | −0.487% | $3.5M | $7.9M | 50x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 319.66 | −0.150% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.15 | −0.310% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 319.40 | −0.231% | $41K | $584K | 20x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0096% | 1h | 319.53 | −0.192% | $23K | $1.5M | 25x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 318.52 | −0.505% | $92.1M | $443.1M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 320.20 | +0.019% | $26.1M | $108.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.50 | −0.512% | $12.9M | $50.2M | 50x | as long as short |
| MEXC TAO_USDTlong | +0.0100% | 4h | 320.14 | long leg | $107.2M | $133.2M | 300x |
Bulk TAO-USD
Phemex TAOUSDT
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Deribit TAO_USDC-PERPETUAL
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.42 | −0.225% | $18.7M | $28.5M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 319.99 | −0.047% | $35.7M | $49.6M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 322.03 | +0.591% | $37K | $287K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 320.32 | +0.056% | $49K | $269K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 319.51 | −0.197% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.36 | −0.244% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.27 | −0.272% | $127K | $422K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0101% | 8h | 319.80 | −0.106% | $654 | $605K | 5x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.53 | −0.191% | $175K | $998 | 3x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0089% | 1h | 319.15 | −0.310% | $463K | — | 100x | as long as short |
| Bullet TAO-USD | +0.0178% | 1h | 319.17 | −0.303% | $12K | $18K | 20x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 320.08 | −0.020% | $379K | $373K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 319.93 | −0.066% | $85K | $545K | 5x | as long as short |
| GRVT TAO_USDT_Perp | +0.0210% | 4h | 321.55 | +0.442% | $533K | $958K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0235% | 8h | 319.88 | −0.082% | $15K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0237% | 4h | 319.23 | −0.283% | $1.1M | $8.1M | 50x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 320.32 | +0.056% | $4.5M | $10.9M | 100x | as long as short |
| Polymarket Perps TAO-USD | +0.0347% | 1h | 319.46 | −0.212% | $94K | $637K | 5x | as long as short |
| Variational Omni TAO | +0.0378% | 4h | 321.33 | +0.370% | $5.6M | $8.6M | — | as long as short |
| Bybit TAOUSDT | +0.0468% | 4h | 318.71 | −0.447% | $65.6M | $131.2M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0480% | 1h | 319.08 | −0.332% | $5.7M | $20.2M | 50x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 322.20 | +0.643% | $337K | $624K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 321.10 | +0.300% | $23K | $652 | 12x | as long as short |
| BingX TAO-USDT | +0.0680% | 4h | 318.54 | −0.500% | — | $30.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 319.08 | −0.330% | $367 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0712% | 1h | 319.84 | −0.094% | $3K | $4K | 5x | as long as short |
| Nado TAO-PERP | +0.0774% | 1h | 319.20 | −0.293% | $888K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0902% | 1h | 318.63 | −0.472% | $321K | $820K | 10x | |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 320.59 | +0.141% | $1.5M | $6.1M | 50x | as long as short |
| Extended TAO-USD | +0.1104% | 1h | 320.25 | +0.035% | $938K | $2.2M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 319.72 | −0.131% | $423K | $595K | 5x | as long as short |
| Lighter TAO | +0.1520% | 1h | 319.31 | −0.258% | $1.7M | $5.9M | 5x | as long as short |
| Hyperliquid TAO | +0.2619% | 1h | 319.22 | −0.287% | $103.9M | $90.1M | 5x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Katana Perps TAO-USD
Aevo TAO-PERP
GMX TAO/USD [WBTC.b-USDC]
Bullet TAO-USD
Pacifica TAO
Arcus TAO-USD
GRVT TAO_USDT_Perp
Paradex TAO-USD-PERP
Aster TAOUSDT
BloFin TAO-USDT
Polymarket Perps TAO-USD
Variational Omni TAO
Bybit TAOUSDT
Kraken Futures PF_TAOUSD
Phoenix TAO
Injective TAO/USDC PERP
BingX TAO-USDT
Reya TAORUSDPERP
01 Exchange TAOUSD
Nado TAO-PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO