TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0209%/8h= +22.9% APRnext payment +$0.26 per $10,000 · paid last 24h −0.057%

Price spread now: Backpack against RISEx+0.090%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on RISEx Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.349%−$35 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now +0.090%, 7d avg +0.022%

Together, before fees−0.489%−$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.068% dearer against RISEx than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.022%. Mind the row above: over the last 3 days funding on this pair cost −0.349%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	305.60	0.1053	pay 0.0132% / 1h	28m 13s	$409K	$535K	5x
Short	Backpack TAO_USDC_PERP	305.88	0.1262	get 0.0158% / 1h	28m 13s	$442K	$712K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against RISEx. 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 RISExbpFee BackpackbpOrdersPrice spread, now +0.090%Rate

Funding earned: $43.87
Price spread: +0.090% → +0.022%: $6.77
Slippage, 4 orders: −$26.28
Fee RISEx: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: $8.36
Costs to cover: 0.423%
Break-even: 5.7 days

Slippage from RISEx: live order book, 60 min ago; Backpack: live order book, 60 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 RISEx live order book, 60 min ago	2.73 bp	6.2 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 60 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	305.80	+0.063%	$128K	$84K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	0.0000%	1h	305.09	−0.168%	$15K	$1.3M	25x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	304.87	−0.241%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.15	−0.149%	$41K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	305.95	+0.113%	$361K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	305.07	−0.176%	$85.3M	$403.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	305.36	−0.080%	$58.9M	$118.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	305.20	−0.132%	$24.9M	$92.3M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	306.08	+0.156%	$136K	$595K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	+0.480%	$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	304.80	−0.263%	$12.2M	$48.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	305.01	−0.194%	$112.7M	$123.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	305.13	−0.155%	$18.4M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	304.89	−0.234%	$34.2M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	305.02	−0.191%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.631%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.34	+0.567%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.77	+0.708%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.19	+0.519%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.68	+0.025%	$86K	$668K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.00	−0.198%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.07	−0.175%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.89	−0.234%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.97	−0.208%	$120K	$352K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	304.93	−0.221%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.17	−0.142%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	305.28	−0.106%	$3K	$434K	5x	as long as short
Aster TAOUSDT	+0.0147%	4h	305.05	−0.181%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0163%	8h	305.79	+0.061%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.77	−0.272%	$435K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	308.30	+0.882%	$327K	$462K	5x	as long as short
Nado TAO-PERP	+0.0307%	1h	305.31	−0.097%	$834K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	306.14	+0.175%	$4.2M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0520%	1h	305.57	−0.011%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	305.01	−0.195%	$351	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	305.09	−0.167%	$897K	$2.0M	25x	as long as short
Lighter TAO	+0.0928%	1h	305.62	+0.005%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	306.30	+0.228%	$1.5M	$5.3M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1032%	1h	305.33	−0.091%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDClong	+0.1053%	1h	305.60	long leg	$409K	$535K	5x
Backpack TAO_USDC_PERPshort	+0.1262%	1h	305.88	+0.090%	$442K	$712K	10x
Hyperliquid TAO	+0.1701%	1h	305.62	+0.005%	$93.4M	$75.9M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	+0.116%	$22K	$171	12x	as long as short