Funding you earn now, next payment 01:00 UTC+0.0315%/8h= +34.4% APRpaid last 24h +0.032%
Price spread now: Backpack against Variational Omni+0.533%7-day average −0.011% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.059%+$6 on $10k
+Price spread, last 4 days (all we have)−0.395%−$40 · spread now +0.533%, 7d avg −0.011%
=Together, before fees−0.337%+ Points / potential airdropVariational Omni: Active · farm board−$34 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.544% dearer against Variational Omni than usual: you sell high and buy low: +$54 more if the spread goes back to its 7-day average of −0.011%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.059% in total (about 6.4% 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 | Variational Omni TAO | 318.38 | 0.0515 | pay 0.0257% / 4h | 3h 19m | $5.6M | $8.7M | — |
| Short | Backpack TAO_USDC_PERP | 320.08 | 0.0830 | get 0.0104% / 1h | 19m 38s | $323K | $818K | 10x |
Variational Omni TAO
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Variational Omni. 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
- $66.07
- Price spread: +0.533% → −0.011%
- $54.37
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $110.44
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Backpack: live order book, 54 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 Variational Omni RFQ quote, 5 min ago | 2.88 bp | doesn't fit | 13.6 bp −$136 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 54 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 | −0.1321% | 1h | 318.22 | −0.051% | $169K | $44K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 319.20 | +0.257% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.57 | +0.374% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 319.26 | +0.276% | $43K | $597K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 319.24 | +0.269% | $91.9M | $448.6M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.40 | +0.320% | $26.2M | $109.4M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 319.00 | +0.194% | $12.9M | $50.9M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 319.31 | +0.291% | $110.2M | $135.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.83 | +0.455% | $18.2M | $29.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 318.94 | +0.175% | $35.4M | $51.1M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
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 | 318.35 | −0.011% | $40K | $293K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 319.06 | +0.212% | $528K | $960K | 10x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 319.91 | +0.480% | $12K | $17K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 319.85 | +0.461% | $58K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.72 | +0.420% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 320.04 | +0.521% | $128K | $423K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 319.72 | +0.420% | $3.4M | $7.8M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.40 | +0.318% | $175K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0112% | 8h | 319.21 | +0.260% | $1K | $632K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0173% / S +0.0094% | 1h | 319.49 | +0.348% | $460K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 319.56 | +0.370% | $379K | $375K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 319.44 | +0.332% | $84K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0228% | 4h | 319.71 | +0.416% | $1.2M | $8.7M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0236% | 8h | 319.90 | +0.476% | $15K | $1K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0292% | 1h | 318.26 | −0.038% | $49K | $267K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0295% | 1h | 320.19 | +0.568% | $94K | $633K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 318.00 | −0.120% | $4.5M | $10.8M | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0426% | 1h | 319.76 | +0.433% | $17K | $1.5M | 25x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0480% | 1h | 319.70 | +0.415% | $5.8M | $20.3M | 50x | as long as short |
| BingX TAO-USDT | +0.0490% | 4h | 319.39 | +0.316% | — | $30.5M | — | as long as short |
| Variational Omni TAOlong | +0.0515% | 4h | 318.38 | long leg | $5.6M | $8.7M | — | |
| Phoenix TAO | +0.0525% | 1h | 319.30 | +0.288% | $334K | $624K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0568% | 1h | 319.45 | +0.335% | $3K | $4K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 318.88 | +0.156% | $23K | $778 | 12x | as long as short |
| Bybit TAOUSDT | +0.0628% | 4h | 319.55 | +0.367% | $65.9M | $133.1M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 319.90 | +0.478% | $368 | — | 20x | as long as short |
| Nado TAO-PERP | +0.0747% | 1h | 320.19 | +0.569% | $893K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0830% | 1h | 320.08 | +0.533% | $323K | $818K | 10x | |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 320.47 | +0.656% | $1.5M | $6.4M | 50x | as long as short |
| Extended TAO-USD | +0.1128% | 1h | 319.28 | +0.282% | $924K | $2.3M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 319.15 | +0.243% | $422K | $593K | 5x | as long as short |
| Lighter TAO | +0.1424% | 1h | 320.32 | +0.609% | $1.7M | $6.0M | 5x | as long as short |
| Hyperliquid TAO | +0.1968% | 1h | 320.54 | +0.678% | $103.0M | $91.5M | 5x | as long as short |
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
BloFin TAO-USDT
Deribit TAO_USDC-PERPETUAL
Kraken Futures PF_TAOUSD
BingX TAO-USDT
Phoenix TAO
01 Exchange TAOUSD
Injective TAO/USDC PERP
Bybit TAOUSDT
Reya TAORUSDPERP
Nado TAO-PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO