Funding you earn now, next payment 02:00 UTC+0.0322%/8h= +35.3% APRnext payment +$0.40 per $10,000 · paid last 24h +0.038%
Price spread now: Backpack against Pacifica+0.014%7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$380.379% of the position
Funding, last 7 days+0.007%+$1 on $10k
+Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.014%, 7d avg +0.038%
=Together, before fees+0.013%+ Points / potential airdropPacifica: Active · farm board+$1 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.025% cheaper against Pacifica than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.038%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.007% in total) that is about 26 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.007% in total (about 0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.40 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 | Pacifica TAO | 308.45 | 0.0285 | pay 0.0036% / 1h | 55m 52s | $365K | $373K | 10x |
| Short | Backpack TAO_USDC_PERP | 308.49 | 0.0607 | get 0.0076% / 1h | 55m 52s | $312K | $818K | 10x |
Pacifica TAO
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Pacifica. 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
- $67.64
- Price spread: +0.014% → +0.038%
- −$2.47
- Slippage, 4 orders
- −$19.91
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $27.25
- Costs to cover
- 0.379%
- Break-even
- 4.2 days
Slippage from Pacifica: live order book, 12 min ago; Backpack: live order book, 13 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 Pacifica live order book, 12 min ago | 3.00 bp | 10.0 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 13 min ago | 0.16 bp | 13.4 bp −$13 | 26.0 bp −$260 | 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 | 308.50 | +0.017% | $123K | $89K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 308.15 | −0.095% | $12K | — | 150x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0028% | 1h | 308.59 | +0.046% | $16K | $1.5M | 25x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 308.39 | −0.019% | $44K | $612K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 308.98 | +0.173% | $88.6M | $457.6M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 308.90 | +0.147% | $25.1M | $107.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 308.70 | +0.082% | $12.5M | $49.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 309.03 | +0.189% | $98.7M | $135.6M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 308.95 | +0.163% | $18.0M | $30.0M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 308.70 | +0.082% | $34.3M | $52.3M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 312.75 | +1.396% | $35K | $297K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 312.72 | +1.385% | $521K | $962K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 313.12 | +1.515% | $48K | $267K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 308.66 | +0.069% | $91K | $672K | 5x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 308.43 | −0.006% | $56K | $330K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 308.67 | +0.072% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 307.89 | −0.181% | $117K | $447K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 308.22 | −0.074% | $169K | $998 | 3x | as long as short |
| Bullet TAO-USD | +0.0114% | 1h | 308.38 | −0.022% | $11K | $17K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0117% | 8h | 308.75 | +0.098% | $632 | $662K | 5x | as long as short |
| Aster TAOUSDT | +0.0151% | 4h | 308.43 | −0.007% | $1.2M | $9.0M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0171% / S +0.0096% | 1h | 308.11 | −0.108% | $419K | — | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0171% | 1h | 308.37 | −0.025% | $5.5M | $20.4M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0230% | 8h | 308.70 | +0.082% | $14K | $1K | 10x | as long as short |
| Pacifica TAOlong | +0.0285% | 1h | 308.45 | long leg | $365K | $373K | 10x | |
| Arcus TAO-USD | +0.0337% | 1h | 309.08 | +0.205% | $82K | $550K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 309.68 | +0.399% | $4.4M | $10.5M | 100x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 316.84 | +2.721% | $23K | $2K | 12x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 313.80 | +1.735% | $328K | $620K | 5x | as long as short |
| Bulk TAO-USD | +0.0529% | 1h | 316.43 | +2.588% | $168K | $40K | 10x | as long as short |
| 01 Exchange TAOUSD | +0.0560% | 1h | 309.07 | +0.202% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0607% | 1h | 308.49 | +0.014% | $312K | $818K | 10x | |
| Variational Omni TAO | +0.0654% | 4h | 308.57 | +0.039% | $5.3M | $8.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 308.54 | +0.031% | $355 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0704% | 4h | 309.05 | +0.195% | — | $30.8M | — | as long as short |
| Bybit TAOUSDT | +0.0750% | 4h | 309.13 | +0.221% | $62.9M | $135.2M | 50x | as long as short |
| Nado TAO-PERP | +0.0895% | 1h | 308.54 | +0.028% | $760K | $2.1M | 10x | as long as short |
| Hyperliquid TAO | +0.1022% | 1h | 308.91 | +0.150% | $98.1M | $92.6M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 309.22 | +0.250% | $1.5M | $6.3M | 50x | as long as short |
| Extended TAO-USD | +0.1032% | 1h | 309.03 | +0.187% | $893K | $2.4M | 25x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 308.89 | +0.142% | $410K | $602K | 5x | as long as short |
| Phemex TAOUSDT | +0.1292% | 4h | 308.30 | −0.048% | $3.3M | $7.9M | 50x | as long as short |
| Lighter TAO | +0.1616% | 1h | 308.86 | +0.135% | $1.6M | $6.0M | 5x | as long as short |
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Bullet TAO-USD
Katana Perps TAO-USD
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Kraken Futures PF_TAOUSD
Paradex TAO-USD-PERP
Arcus TAO-USD
BloFin TAO-USDT
Injective TAO/USDC PERP
Phoenix TAO
Bulk TAO-USD
01 Exchange TAOUSD
Variational Omni TAO
Reya TAORUSDPERP
BingX TAO-USDT
Bybit TAOUSDT
Nado TAO-PERP
Hyperliquid TAO
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Phemex TAOUSDT
Lighter TAO