Funding you earn now, next payment 02:00 UTC+0.0782%/8h= +85.6% APRpaid last 24h +0.048%
Price spread now: Backpack against OKX+0.016%7-day average +0.072% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$360.359% of the position
Funding, last 7 days+0.086%+$9 on $10k
+Price spread, last 4 days (all we have)+0.079%+$8 · spread now +0.016%, 7d avg +0.072%
=Funding pays, the price is against you. Backpack is 0.056% cheaper against OKX than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.072%). If the spread goes back, that is −$6 on $10k: about 6 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.086% in total) that is about 4.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% 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 | OKX TAO-USDT-SWAP | 313.10 | 0.0100 | pay 0.0100% / 8h | 6h 29m | $25.6M | $111.0M | 50x |
| Short | Backpack TAO_USDC_PERP | 313.15 | 0.0882 | get 0.0110% / 1h | 29m 48s | $316K | $814K | 10x |
OKX TAO-USDT-SWAP
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. 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
- $164.19
- Price spread: +0.016% → +0.072%
- −$5.61
- Slippage, 4 orders
- −$15.88
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $122.71
- Costs to cover
- 0.359%
- Break-even
- 1.8 days
Slippage from OKX: live order book, 4 min ago; Backpack: live order book, 39 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 OKX live order book, 4 min ago | 1.61 bp | 8.1 bp −$8 | 15.1 bp −$151 | 55.2 bp −$5,522 | doesn't fit |
| Sell Backpack live order book, 39 min ago | 0.16 bp | 13.4 bp −$13 | 26.0 bp −$260 | doesn't fit | doesn't fit |
TAO on 42 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 | 312.02 | −0.346% | $125K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 312.32 | −0.249% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 312.70 | −0.128% | $38K | $623K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 312.86 | −0.075% | $89.8M | $463.2M | 75x | as long as short |
| OKX TAO-USDT-SWAPlong | +0.0100% | 8h | 313.10 | long leg | $25.6M | $111.0M | 50x | |
| Gate TAO_USDT | +0.0100% | 4h | 312.60 | −0.160% | $12.7M | $50.0M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 312.61 | −0.156% | $107.5M | $138.4M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 312.52 | −0.185% | $18.0M | $30.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 312.77 | −0.105% | $34.9M | $53.3M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 308.62 | −1.432% | $34K | $299K | 10x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDCShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 310.29 | −0.899% | $511K | $966K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 308.66 | −1.418% | $46K | $269K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 312.53 | −0.182% | $57K | $282K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.50 | −0.192% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.47 | −0.201% | $128K | $471K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 312.90 | −0.064% | $3.4M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.48 | −0.197% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0122% | 8h | 312.56 | −0.172% | $1K | $692K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0158% | 1h | 312.89 | −0.067% | $82K | $678K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0169% | 1h | 313.10 | −0.002% | $5.6M | $20.4M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0169% / S +0.0090% | 1h | 312.34 | −0.244% | $437K | — | 100x | as long as short |
| Aster TAOUSDT | +0.0213% | 4h | 312.78 | −0.102% | $1.3M | $9.4M | 50x | as long as short |
| Bullet TAO-USD | +0.0222% | 1h | 312.73 | −0.119% | $12K | $17K | 20x | as long as short |
| Pacifica TAO | +0.0285% | 1h | 312.67 | −0.137% | $369K | $381K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0310% | 8h | 312.39 | −0.226% | $14K | $1K | 10x | as long as short |
| Arcus TAO-USD | +0.0337% | 1h | 312.86 | −0.077% | $98K | $534K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 312.28 | −0.262% | $23K | $2K | 12x | as long as short |
| Nado TAO-PERP | +0.0534% | 1h | 312.81 | −0.091% | $776K | $2.1M | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0553% | 1h | 313.11 | +0.002% | $24K | $1.5M | 25x | as long as short |
| Phoenix TAO | +0.0588% | 1h | 309.20 | −1.246% | $323K | $681K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0648% | 1h | 312.95 | −0.048% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 312.85 | −0.080% | $360 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0708% | 4h | 312.91 | −0.061% | — | $31.0M | — | as long as short |
| Variational Omni TAO | +0.0774% | 4h | 311.95 | −0.368% | $5.4M | $8.8M | — | as long as short |
| Bybit TAOUSDT | +0.0796% | 4h | 313.19 | +0.029% | $65.2M | $137.1M | 50x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0882% | 1h | 313.15 | +0.016% | $316K | $814K | 10x | |
| Extended TAO-USD | +0.0920% | 1h | 312.38 | −0.230% | $898K | $2.3M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 313.88 | +0.249% | $1.5M | $6.4M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 312.63 | −0.150% | $447K | $631K | 5x | as long as short |
| Hyperliquid TAO | +0.1210% | 1h | 313.29 | +0.061% | $99.0M | $94.6M | 5x | as long as short |
| Lighter TAO | +0.1416% | 1h | 313.32 | +0.071% | $1.6M | $6.0M | 5x | as long as short |
| Bulk TAO-USD | +0.4286% | 1h | 309.11 | −1.275% | $164K | $40K | 10x | as long as short |
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Polymarket Perps TAO-USD
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]
Aster TAOUSDT
Bullet TAO-USD
Pacifica TAO
Paradex TAO-USD-PERP
Arcus TAO-USD
Injective TAO/USDC PERP
Nado TAO-PERP
Deribit TAO_USDC-PERPETUAL
Phoenix TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
BingX TAO-USDT
Variational Omni TAO
Bybit TAOUSDT
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Lighter TAO
Bulk TAO-USD