TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0613%/8h= +67.2% APRnext payment +$0.77 per $10,000 · paid last 24h −0.158%

Price spread now: Backpack against Reya+0.082%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Backpack is 0.082% dearer against Reya than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya TAORUSDPERP	307.41	0.0694	pay 0.0087% / 1h	31m 19s	$354	—	20x
Short	Backpack TAO_USDC_PERP	307.66	0.1308	get 0.0163% / 1h	31m 19s	$471K	$682K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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

Position, each leg$Hold fordaysFee ReyabpFee BackpackbpOrdersPrice spread, now +0.082%Rate

Funding earned: $128.83
Price spread: +0.082% → 0.000%: $8.16
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: $120.98
Costs to cover: 0.160%
Break-even: 0.4 days

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 57 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 57 min ago	0.64 bp	9.0 bp −$9	13.3 bp −$133	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	307.10	−0.101%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	307.27	−0.047%	$20K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0058%	1h	307.45	+0.014%	$14K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.23	−0.058%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	307.38	−0.010%	$363K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.32	−0.029%	$86.0M	$402.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.48	+0.023%	$59.2M	$117.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.30	−0.036%	$25.1M	$92.6M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	307.44	+0.010%	$136K	$594K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	−0.110%	$201K	$57K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	307.30	−0.036%	$12.1M	$47.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	307.29	−0.039%	$113.5M	$122.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.25	−0.052%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.23	−0.058%	$34.4M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.34	−0.023%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.77	−0.533%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.38	−0.009%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.30	−0.035%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.14	−0.088%	$46K	$267K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.41	+0.001%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.32	−0.029%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.25	−0.052%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.48	+0.023%	$121K	$351K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.41	0.000%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.56	+0.049%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	307.39	−0.006%	$2K	$430K	5x	as long as short
Polymarket Perps TAO-USD	+0.0116%	1h	307.56	+0.049%	$86K	$669K	5x	as long as short
Aster TAOUSDT	+0.0163%	4h	307.37	−0.013%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0164%	8h	307.35	−0.020%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.21	−0.064%	$438K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.290%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0283%	1h	307.42	+0.003%	$846K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.18	−0.075%	$4.3M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	307.53	+0.039%	$3K	$4K	5x	as long as short
Reya TAORUSDPERPlong	+0.0694%	1h	307.41	long leg	$354	—	20x
Extended TAO-USD	+0.0696%	1h	307.34	−0.024%	$906K	$2.0M	25x	as long as short
Lighter TAO	+0.0912%	1h	307.75	+0.110%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.45	+0.339%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1025%	1h	307.61	+0.066%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.36	−0.016%	$411K	$535K	5x	as long as short
Backpack TAO_USDC_PERPshort	+0.1308%	1h	307.66	+0.082%	$471K	$682K	10x
Hyperliquid TAO	+0.1685%	1h	307.95	+0.176%	$94.0M	$75.7M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.394%	$22K	$138	12x	as long as short