Funding you earn now, next payment 04:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.066%
Price spread now: KuCoin against Backpack+0.124%7-day average −0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$490.487% of the position
Funding, last 7 days−0.096%−$10 on $10k
+Price spread, last 4 days (all we have)−0.126%−$13 · spread now +0.124%, 7d avg −0.040%
=The price spread pays, funding is against you. KuCoin is 0.164% dearer against Backpack than usual: you sell high and buy low (spread +0.124% now, against its 7-day average of −0.040%): +$16 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 7 days (−0.096% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.096% in total (about -5.0% 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 | Backpack TAO_USDC_PERP | 314.83 | 0.0339 | pay 0.0042% / 1h | 38m 41s | $315K | $913K | 10x |
| Short | KuCoin TAOUSDTM | 315.22 | 0.0100 | get 0.0050% / 4h | 38m 41s | $17.5M | $31.7M | 75x |
Backpack TAO_USDC_PERP
KuCoin TAOUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$50.28
- Price spread: +0.124% → −0.040%
- $16.43
- Slippage, 4 orders
- −$26.68
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$82.53
- Costs to cover
- 0.487%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 20 min ago; KuCoin: live order book, 5 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, 20 min ago | 2.85 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 5 min ago | 0.79 bp | 15.0 bp −$15 | 25.7 bp −$257 | 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 | −0.0482% | 1h | 315.13 | +0.095% | $167K | $1K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 315.04 | +0.068% | $126K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 314.93 | +0.032% | $20K | — | 150x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0056% | 1h | 314.78 | −0.017% | $5.5M | $20.6M | 50x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 315.97 | +0.362% | $42K | $686K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 315.09 | +0.083% | $90.8M | $490.9M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.30 | +0.149% | $25.9M | $119.7M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 314.90 | +0.022% | $12.9M | $49.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 315.33 | +0.159% | $106.0M | $142.7M | 300x | as long as short |
| KuCoin TAOUSDTMshort | +0.0100% | 4h | 315.22 | +0.124% | $17.5M | $31.7M | 75x |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Kraken Futures PF_TAOUSD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 315.24 | +0.130% | $35.2M | $55.9M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.41 | +0.185% | $35K | $302K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.94 | +0.035% | $46K | $252K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 315.73 | +0.286% | $89K | $790K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 315.25 | +0.132% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.80 | −0.010% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.75 | −0.025% | $109K | $527K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 314.81 | −0.006% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0101% | 8h | 315.58 | +0.238% | $1K | $787K | 5x | as long as short |
| GRVT TAO_USDT_Perp | +0.0104% | 4h | 316.85 | +0.642% | $528K | $944K | 10x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 315.05 | +0.070% | $173K | $998 | 3x | as long as short |
| Bybit TAOUSDT | +0.0112% | 4h | 315.36 | +0.168% | $68.5M | $146.8M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0126% | 1h | 314.88 | +0.014% | $11K | $1.6M | 25x | as long as short |
| Orderly PERP_TAO_USDC | +0.0127% | 4h | 314.81 | −0.006% | $57K | $275K | 10x | as long as short |
| BingX TAO-USDT | +0.0146% | 4h | 315.46 | +0.200% | — | $30.0M | — | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0151% / S +0.0122% | 1h | 314.96 | +0.042% | $421K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0183% | 1h | 315.72 | +0.283% | $805K | $2.2M | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0185% | 8h | 315.41 | +0.183% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0207% | 4h | 315.26 | +0.138% | $1.2M | $10.2M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0248% | 1h | 316.01 | +0.375% | $3K | $4K | 5x | as long as short |
| Hyperliquid TAO | +0.0271% | 1h | 315.32 | +0.156% | $93.4M | $105.6M | 5x | as long as short |
| Extended TAO-USD | +0.0288% | 1h | 315.36 | +0.168% | $922K | $2.4M | 25x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0339% | 1h | 314.83 | long leg | $315K | $913K | 10x | |
| BloFin TAO-USDT | +0.0340% | 4h | 315.25 | +0.133% | $4.5M | $10.9M | 100x | as long as short |
| Arcus TAO-USD | +0.0345% | 1h | 315.64 | +0.257% | $99K | $488K | 5x | as long as short |
| Pacifica TAO | +0.0365% | 1h | 315.17 | +0.108% | $359K | $411K | 10x | as long as short |
| Lighter TAO | +0.0376% | 1h | 315.45 | +0.196% | $1.5M | $6.5M | 5x | as long as short |
| Phoenix TAO | +0.0581% | 1h | 317.30 | +0.785% | $316K | $697K | 5x | as long as short |
| Variational Omni TAO | +0.0615% | 4h | 315.95 | +0.355% | $5.8M | $9.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 315.44 | +0.194% | $363 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0991% | 1h | 315.96 | +0.359% | $438K | $659K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 318.13 | +1.048% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4222% | 1h | 319.61 | +1.518% | $23K | $2K | 12x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
GRVT TAO_USDT_Perp
Aevo TAO-PERP
Bybit TAOUSDT
Deribit TAO_USDC-PERPETUAL
Orderly PERP_TAO_USDC
BingX TAO-USDT
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
Paradex TAO-USD-PERP
Aster TAOUSDT
01 Exchange TAOUSD
Hyperliquid TAO
Extended TAO-USD
BloFin TAO-USDT
Arcus TAO-USD
Pacifica TAO
Lighter TAO
Phoenix TAO
Variational Omni TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP