TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.4045%/8h= +442.9% APRnext payment +$5.06 per $10,000 · paid last 24h +0.612%

Price spread now: Injective against Backpack+1.525%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.394%+$339 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$121 a day on $10k at the current rate, and Injective is 1.525% dearer against Backpack than usual: you sell high and buy low: +$153 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	Backpack TAO_USDC_PERP	318.66	0.0678	pay 0.0085% / 1h	4m 46s	$297K	$905K	10x
Short	Injective TAO/USDC PERP	323.52	0.4723	get 0.0590% / 1h	4m 46s	$24K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Backpack. 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 BackpackbpFee InjectivebpOrdersPrice spread, now +1.525%Rate

Funding earned: $849.45
Price spread: +1.525% → 0.000%: $152.51
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $991.94
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Backpack: live order book, 39 min ago; Injective: no order-book sample. 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 Backpack live order book, 39 min ago	1.87 bp	7.3 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Bulk TAO-USD	−0.0237%	1h	320.94	+0.715%	$171K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.28	+0.194%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	318.86	+0.063%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.23	+0.179%	$44K	$707K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.80	−0.270%	$26.7M	$129.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.70	−0.301%	$14.3M	$52.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.42	−0.075%	$17.7M	$32.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.42	−0.389%	$35.7M	$58.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.08	+0.132%	$46K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.12	+0.144%	$85K	$1.2M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	318.95	+0.091%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.85	+0.060%	$116K	$599K	20x	as long as short
Katana Perps TAO-USD	+0.0108%	8h	319.20	+0.169%	$725	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0113% / S +0.0154%	1h	318.81	+0.046%	$426K	—	100x	as long as short
Aevo TAO-PERP	+0.0128%	1h	319.25	+0.187%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0131%	4h	319.11	+0.141%	$53K	$293K	10x	as long as short
MEXC TAO_USDT	+0.0186%	4h	318.04	−0.195%	$107.5M	$151.9M	300x	as long as short
Binance TAOUSDT	+0.0186%	4h	317.90	−0.238%	$92.3M	$528.4M	75x	as long as short
edgeX TAOUSDC	+0.0188%	4h	319.19	+0.166%	$42K	$318K	10x	as long as short
Paradex TAO-USD-PERP	+0.0243%	8h	319.45	+0.248%	$14K	$1K	10x	as long as short
Bybit TAOUSDT	+0.0270%	4h	317.96	−0.220%	$69.8M	$155.9M	50x	as long as short
BingX TAO-USDT	+0.0282%	4h	317.78	−0.276%	—	$35.4M	—	as long as short
Bullet TAO-USD	+0.0306%	1h	319.20	+0.169%	$12K	$17K	20x	as long as short
Aster TAOUSDT	+0.0351%	4h	318.08	−0.181%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0352%	1h	318.23	−0.136%	$908K	$2.4M	25x	as long as short
GRVT TAO_USDT_Perp	+0.0364%	4h	318.37	−0.090%	$540K	$917K	10x	as long as short
BloFin TAO-USDT	+0.0426%	4h	319.29	+0.198%	$4.7M	$11.0M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0469%	1h	319.08	+0.132%	$15K	$2.0M	25x	as long as short
Nado TAO-PERP	+0.0507%	1h	319.40	+0.233%	$792K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0514%	4h	319.69	+0.323%	$5.7M	$10.2M	—	as long as short
Pacifica TAO	+0.0525%	1h	319.52	+0.269%	$363K	$429K	10x	as long as short
Phemex TAOUSDT	+0.0528%	4h	319.10	+0.138%	$3.2M	$8.1M	50x	as long as short
Phoenix TAO	+0.0567%	1h	319.50	+0.264%	$318K	$709K	5x	as long as short
Lighter TAO	+0.0584%	1h	317.56	−0.344%	$1.6M	$6.8M	5x	as long as short
Hyperliquid TAO	+0.0592%	1h	317.96	−0.220%	$94.0M	$110.0M	5x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	319.39	+0.229%	$3K	$4K	5x	as long as short
Arcus TAO-USD	+0.0641%	1h	319.61	+0.298%	$103K	$389K	5x	as long as short
Backpack TAO_USDC_PERPlong	+0.0678%	1h	318.66	long leg	$297K	$905K	10x
Reya TAORUSDPERP	+0.0698%	1h	319.17	+0.160%	$367	—	20x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.41	+0.549%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	319.22	+0.176%	$440K	$677K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1157%	1h	319.16	+0.156%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERPshort	+0.4723%	1h	323.52	+1.525%	$24K	$2K	12x