Funding you earn now, next payment 02:00 UTC−0.0557%/8h= −61.0% APRnext payment −$0.70 per $10,000 · paid last 24h −0.045%
Price spread now: Arcus against Backpack−0.045%7-day average +0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$63as 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)+0.100%+$10 · spread now −0.045%, 7d avg +0.030%
=Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Arcus is 0.075% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.030%). Swap the legs.
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 −$0.70 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 | Backpack TAO_USDC_PERP | 310.63 | 0.0894 | pay 0.0112% / 1h | 48m 00s | $314K | $816K | 10x |
| Short | Arcus TAO-USD | 310.49 | 0.0337 | get 0.0042% / 1h | 48m 00s | $82K | $551K | 5x |
Backpack TAO_USDC_PERP
Arcus TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Backpack. 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
- −$117.07
- Price spread: −0.045% → +0.030%
- −$7.53
- Slippage, 4 orders
- −$40.88
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$179.98
- Costs to cover
- 0.554%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 21 min ago; Arcus: live order book, 21 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 Backpack live order book, 21 min ago | 0.16 bp | 5.2 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell Arcus live order book, 21 min ago | 8.37 bp | 22.0 bp −$22 | 32.9 bp −$329 | 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 | 310.36 | −0.087% | $124K | $87K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 309.63 | −0.321% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 310.25 | −0.122% | $46K | $617K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 309.86 | −0.248% | $88.9M | $460.3M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 309.80 | −0.267% | $25.2M | $108.7M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 310.10 | −0.171% | $12.6M | $49.3M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 309.76 | −0.280% | $100.9M | $136.6M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 309.91 | −0.232% | $18.0M | $30.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 309.55 | −0.348% | $34.4M | $52.5M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 310.91 | +0.092% | $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 | 312.42 | +0.577% | $521K | $962K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 310.05 | −0.187% | $56K | $321K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 309.99 | −0.206% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 310.29 | −0.109% | $127K | $473K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 310.31 | −0.102% | $170K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0119% | 8h | 310.25 | −0.122% | $1K | $674K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0170% | 1h | 310.33 | −0.098% | $5.6M | $20.4M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0170% / S +0.0092% | 1h | 309.58 | −0.339% | $427K | — | 100x | as long as short |
| Aster TAOUSDT | +0.0185% | 4h | 310.13 | −0.162% | $1.2M | $9.1M | 50x | as long as short |
| Bullet TAO-USD | +0.0230% | 1h | 310.03 | −0.194% | $12K | $17K | 20x | as long as short |
| ApeX Omni TAOUSDT | +0.0260% | 1h | 311.50 | +0.280% | $47K | $267K | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0263% | 8h | 310.28 | −0.113% | $14K | $1K | 10x | as long as short |
| Pacifica TAO | +0.0285% | 1h | 310.48 | −0.048% | $366K | $378K | 10x | as long as short |
| Arcus TAO-USDshort | +0.0337% | 1h | 310.49 | −0.045% | $82K | $551K | 5x | |
| Deribit TAO_USDC-PERPETUAL | +0.0339% | 1h | 310.07 | −0.181% | $15K | $1.5M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 311.16 | +0.171% | $4.4M | $10.7M | 100x | as long as short |
| Polymarket Perps TAO-USD | +0.0341% | 1h | 310.27 | −0.116% | $89K | $673K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 315.63 | +1.610% | $23K | $2K | 12x | as long as short |
| Bulk TAO-USD | +0.0529% | 1h | 316.43 | +1.867% | $168K | $40K | 10x | as long as short |
| Nado TAO-PERP | +0.0537% | 1h | 309.91 | −0.233% | $761K | $2.1M | 10x | as long as short |
| Phoenix TAO | +0.0588% | 1h | 310.60 | −0.010% | $325K | $681K | 5x | as long as short |
| Phemex TAOUSDT | +0.0629% | 4h | 310.71 | +0.026% | $3.4M | $7.9M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0680% | 1h | 310.58 | −0.016% | $3K | $4K | 5x | as long as short |
| Variational Omni TAO | +0.0682% | 4h | 311.59 | +0.308% | $5.4M | $8.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 309.80 | −0.266% | $356 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0722% | 4h | 310.30 | −0.106% | — | $31.0M | — | as long as short |
| Bybit TAOUSDT | +0.0782% | 4h | 309.98 | −0.209% | $63.3M | $135.8M | 50x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0894% | 1h | 310.63 | long leg | $314K | $816K | 10x | |
| Extended TAO-USD | +0.0992% | 1h | 309.67 | −0.310% | $891K | $2.4M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 311.28 | +0.209% | $1.5M | $6.4M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 310.32 | −0.100% | $412K | $604K | 5x | as long as short |
| Hyperliquid TAO | +0.1302% | 1h | 310.59 | −0.013% | $98.6M | $92.6M | 5x | as long as short |
| Lighter TAO | +0.1432% | 1h | 310.87 | +0.078% | $1.6M | $6.0M | 5x | 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
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]
Aster TAOUSDT
Bullet TAO-USD
ApeX Omni TAOUSDT
Paradex TAO-USD-PERP
Pacifica TAO
Deribit TAO_USDC-PERPETUAL
BloFin TAO-USDT
Polymarket Perps TAO-USD
Injective TAO/USDC PERP
Bulk TAO-USD
Nado TAO-PERP
Phoenix TAO
Phemex TAOUSDT
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