Funding you earn now, next payment 01:00 UTC+0.0794%/8h= +86.9% APRpaid last 24h +0.039%
Price spread now: Backpack against Binance+0.018%7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$330.326% of the position
Funding, last 7 days+0.086%+$9 on $10k
+Price spread, last 4 days (all we have)+0.049%+$5 · spread now +0.018%, 7d avg +0.044%
=Funding pays, the price is against you. Backpack is 0.026% cheaper against Binance than usual: you would sell low and buy high (spread +0.018% now, against its 7-day average of +0.044%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$24 a day). At the pace of the last 7 days (+0.086% in total) that is about 2.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% 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 | Binance TAOUSDT | 319.89 | 0.0100 | pay 0.0050% / 4h | 3h 34m | $92.2M | $445.7M | 75x |
| Short | Backpack TAO_USDC_PERP | 319.95 | 0.0894 | get 0.0112% / 1h | 34m 58s | $323K | $819K | 10x |
Binance TAOUSDT
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- $166.72
- Price spread: +0.018% → +0.044%
- −$2.61
- Slippage, 4 orders
- −$12.59
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $131.52
- Costs to cover
- 0.326%
- Break-even
- 1.5 days
Slippage from Binance: live order book, 9 min ago; Backpack: live order book, 39 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 Binance live order book, 9 min ago | 0.62 bp | 9.4 bp −$9 | 17.1 bp −$171 | 35.3 bp −$3,527 | doesn't fit |
| Sell Backpack live order book, 39 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 | −0.1322% | 1h | 319.84 | −0.016% | $170K | $44K | 10x | as long as short |
| Phemex TAOUSDT | −0.0525% | 4h | 319.48 | −0.129% | $3.4M | $7.9M | 50x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 319.00 | −0.279% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.05 | −0.263% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 319.60 | −0.091% | $42K | $587K | 20x | as long as short |
| Binance TAOUSDTlong | +0.0100% | 4h | 319.89 | long leg | $92.2M | $445.7M | 75x | |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.70 | −0.060% | $26.2M | $108.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 319.50 | −0.122% | $13.0M | $50.4M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 319.69 | −0.063% | $107.7M | $134.1M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.62 | −0.085% | $18.2M | $29.1M | 75x | as long as short |
Bulk TAO-USD
Phemex TAOUSDT
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTMShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 319.55 | −0.107% | $35.6M | $50.2M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 318.20 | −0.528% | $40K | $292K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 316.52 | −1.053% | $524K | $960K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 319.60 | −0.091% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.21 | −0.213% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.94 | +0.015% | $128K | $424K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.99 | +0.030% | $176K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0121% | 8h | 319.81 | −0.026% | $1K | $615K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0089% | 1h | 319.09 | −0.251% | $463K | — | 100x | as long as short |
| Bullet TAO-USD | +0.0175% | 1h | 319.24 | −0.203% | $12K | $18K | 20x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 319.59 | −0.093% | $378K | $374K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 319.91 | +0.006% | $85K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0237% | 4h | 319.79 | −0.033% | $1.1M | $8.3M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0240% | 8h | 319.10 | −0.247% | $14K | $1K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0263% | 1h | 319.61 | −0.087% | $18K | $1.6M | 25x | as long as short |
| Polymarket Perps TAO-USD | +0.0330% | 1h | 319.75 | −0.044% | $94K | $638K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 319.99 | +0.031% | $4.5M | $10.9M | 100x | as long as short |
| ApeX Omni TAOUSDT | +0.0344% | 1h | 319.23 | −0.207% | $48K | $266K | 50x | as long as short |
| Bybit TAOUSDT | +0.0385% | 4h | 320.21 | +0.100% | $65.8M | $132.7M | 50x | as long as short |
| Variational Omni TAO | +0.0398% | 4h | 320.33 | +0.136% | $5.6M | $8.7M | — | as long as short |
| BingX TAO-USDT | +0.0428% | 4h | 319.77 | −0.038% | — | $30.5M | — | as long as short |
| Kraken Futures PF_TAOUSD | +0.0480% | 1h | 319.57 | −0.101% | $5.8M | $20.3M | 50x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 317.50 | −0.748% | $332K | $624K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 319.79 | −0.032% | $23K | $666 | 12x | as long as short |
| 01 Exchange TAOUSD | +0.0672% | 1h | 320.20 | +0.096% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 319.24 | −0.203% | $367 | — | 20x | as long as short |
| Nado TAO-PERP | +0.0772% | 1h | 319.34 | −0.173% | $889K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0894% | 1h | 319.95 | +0.018% | $323K | $819K | 10x | |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 320.02 | +0.040% | $1.5M | $6.2M | 50x | as long as short |
| Extended TAO-USD | +0.1128% | 1h | 319.43 | −0.143% | $936K | $2.2M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 319.85 | −0.014% | $425K | $600K | 5x | as long as short |
| Lighter TAO | +0.1488% | 1h | 320.16 | +0.085% | $1.7M | $6.0M | 5x | as long as short |
| Hyperliquid TAO | +0.2377% | 1h | 320.13 | +0.075% | $103.4M | $90.7M | 5x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
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]
Bullet TAO-USD
Pacifica TAO
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Deribit TAO_USDC-PERPETUAL
Polymarket Perps TAO-USD
BloFin TAO-USDT
ApeX Omni TAOUSDT
Bybit TAOUSDT
Variational Omni TAO
BingX TAO-USDT
Kraken Futures PF_TAOUSD
Phoenix TAO
Injective TAO/USDC PERP
01 Exchange TAOUSD
Reya TAORUSDPERP
Nado TAO-PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO