Funding you earn now, next payment 02:00 UTC+0.0538%/8h= +58.9% APRnext payment +$0.67 per $10,000 · paid last 24h +0.045%
Price spread now: Backpack against Arcus+0.074%7-day average −0.030% · 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−$45as in the Price arb table
costs, in and out, $10k−$550.554% of the position
Funding, last 3 days (all we have)+0.062%+$6 on $10k
+Price spread, last 4 days (all we have)−0.129%−$13 · spread now +0.074%, 7d avg −0.030%
=Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Backpack is 0.105% dearer against Arcus than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.030%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.062% in total (about 6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.67 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 | Arcus TAO-USD | 309.18 | 0.0337 | pay 0.0042% / 1h | 46m 22s | $82K | $551K | 5x |
| Short | Backpack TAO_USDC_PERP | 309.41 | 0.0875 | get 0.0109% / 1h | 46m 22s | $313K | $816K | 10x |
Arcus TAO-USD
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Arcus. 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
- $112.93
- Price spread: +0.074% → −0.030%
- $10.46
- Slippage, 4 orders
- −$40.88
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $68.01
- Costs to cover
- 0.554%
- Break-even
- 2.8 days
Slippage from Arcus: live order book, 22 min ago; Backpack: live order book, 23 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 Arcus live order book, 22 min ago | 8.37 bp | 14.8 bp −$15 | 27.7 bp −$277 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 23 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 | 308.79 | −0.126% | $123K | $87K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 308.59 | −0.190% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 308.88 | −0.097% | $46K | $604K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 308.70 | −0.155% | $88.6M | $458.1M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 308.80 | −0.123% | $25.1M | $107.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 308.60 | −0.188% | $12.5M | $49.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 308.80 | −0.123% | $100.7M | $136.7M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 308.81 | −0.120% | $17.9M | $30.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 308.59 | −0.191% | $34.4M | $52.4M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 311.23 | +0.664% | $34K | $299K | 10x | as long as short |
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 TAOUSDT
edgeX TAOUSDCShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 311.49 | +0.746% | $519K | $964K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 308.69 | −0.158% | $56K | $307K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 308.52 | −0.213% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 309.06 | −0.039% | $126K | $471K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 309.09 | −0.029% | $170K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0118% | 8h | 308.92 | −0.084% | $632 | $673K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0170% / S +0.0092% | 1h | 308.49 | −0.223% | $425K | — | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0171% | 1h | 308.72 | −0.148% | $5.5M | $20.3M | 50x | as long as short |
| Aster TAOUSDT | +0.0177% | 4h | 308.75 | −0.140% | $1.3M | $9.1M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0217% | 1h | 308.62 | −0.180% | $15K | $1.5M | 25x | as long as short |
| Bullet TAO-USD | +0.0230% | 1h | 308.84 | −0.110% | $12K | $17K | 20x | as long as short |
| Paradex TAO-USD-PERP | +0.0265% | 8h | 309.11 | −0.021% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0274% | 1h | 309.01 | −0.055% | $78K | $656K | 5x | as long as short |
| Pacifica TAO | +0.0285% | 1h | 309.14 | −0.013% | $365K | $378K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0290% | 1h | 310.96 | +0.576% | $47K | $268K | 50x | as long as short |
| Arcus TAO-USDlong | +0.0337% | 1h | 309.18 | long leg | $82K | $551K | 5x | |
| BloFin TAO-USDT | +0.0340% | 4h | 311.16 | +0.640% | $4.4M | $10.7M | 100x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 315.63 | +2.086% | $23K | $2K | 12x | as long as short |
| Nado TAO-PERP | +0.0562% | 1h | 308.74 | −0.142% | $758K | $2.1M | 10x | as long as short |
| Phemex TAOUSDT | +0.0585% | 4h | 309.32 | +0.045% | $3.3M | $7.9M | 50x | as long as short |
| Phoenix TAO | +0.0588% | 1h | 311.70 | +0.815% | $326K | $681K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0672% | 1h | 309.17 | −0.003% | $3K | $4K | 5x | as long as short |
| Variational Omni TAO | +0.0696% | 4h | 309.05 | −0.043% | $5.4M | $8.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 308.82 | −0.115% | $355 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0740% | 4h | 308.76 | −0.136% | — | $31.0M | — | as long as short |
| Bybit TAOUSDT | +0.0790% | 4h | 308.92 | −0.084% | $63.1M | $135.2M | 50x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0875% | 1h | 309.41 | +0.074% | $313K | $816K | 10x | |
| Extended TAO-USD | +0.0984% | 1h | 308.68 | −0.161% | $890K | $2.4M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 310.00 | +0.265% | $1.5M | $6.3M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 308.96 | −0.071% | $410K | $605K | 5x | as long as short |
| Hyperliquid TAO | +0.1301% | 1h | 309.16 | −0.006% | $98.1M | $92.7M | 5x | as long as short |
| Lighter TAO | +0.1432% | 1h | 309.34 | +0.051% | $1.6M | $6.0M | 5x | as long as short |
| Bulk TAO-USD | +0.3743% | 1h | 312.40 | +1.041% | $166K | $40K | 10x | as long as short |
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Kraken Futures PF_TAOUSD
Aster TAOUSDT
Deribit TAO_USDC-PERPETUAL
Bullet TAO-USD
Paradex TAO-USD-PERP
Polymarket Perps TAO-USD
Pacifica TAO
ApeX Omni TAOUSDT
BloFin TAO-USDT
Injective TAO/USDC PERP
Nado TAO-PERP
Phemex TAOUSDT
Phoenix TAO
01 Exchange TAOUSD
Variational Omni TAO
Reya TAORUSDPERP
BingX TAO-USDT
Bybit TAOUSDT
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Lighter TAO
Bulk TAO-USD